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MARUHACHI HOLDINGS CO., LTD., First Half Ordinary Profit Decreases by 46%, July-September Ordinary Profit Turns to Loss

Wed Nov 13, 2024 4:00 pm JST Earnings

3504 MARUHACHI HOLDINGS CO., LTD. 【J-GAAP】

Earnings Report

MARUHACHI HOLDINGS CO., LTD. <3504> [NSE-M] announced its financial results after the market closed on November 13th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 46.5% from the same period last year to 1.25 billion yen. The progress rate against the 2.56 billion yen full-year plan was 48.8%, also falling below the five-year average of 56.5%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 20.8% from the same period last year, reaching 1.31 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 493 million yen (compared to a profit of 1 billion yen in the same period last year). The operating profit margin decreased from 15.2% in the same period last year to 11.1%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2022 5,811 709 2,268 1,293 83.5 71.1 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 6,036 957 2,338 1,460 94.3 68.3 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 5,933 717 1,251 1,210 78.1 48.8 Nov 13, 2024 J-GAAP
YoY -1.7% -25.1% -46.5% -17.1% -17.1%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance 5,775 753 1,394 1,335 86.1 0 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 5,933 717 1,251 1,210 78.1 0 Nov 13, 2024 J-GAAP
Revision Rate +2.7% -4.8% -10.3% -9.4% -9.3%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2023 5,793 476 1,087 867 56.0 30 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 5,725 571 1,313 898 57.9 30 Nov 13, 2024 J-GAAP
YoY -1.2% +20.0% +20.8% +3.6% +3.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 12,105 1,515 3,192 2,968 191.6 30 May 12, 2023 J-GAAP
Mar, 2024 11,829 1,433 3,425 2,327 150.2 30 May 14, 2024 J-GAAP
Mar, 2025 Guidance 11,658 1,288 2,564 2,108 136.0 30 May 14, 2024 J-GAAP
YoY -1.4% -10.1% -25.1% -9.4% -9.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,834 432 1,009 720 46.5 15.2 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 3,279 556 867 589 38.0 17.0 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 2,514 -80 220 278 17.9 -3.2 May 14, 2024 J-GAAP
Apr - Jun, 2024 3,132 405 1,744 1,824 117.8 12.9 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 2,801 312 -493 -614 -39.7 11.1 Nov 13, 2024 J-GAAP
YoY -1.2% -27.8% － － －

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