MURO CORPORATION, First Half Ordinary Profit Decreases by 62%, July-September Ordinary Profit Decreases by 91%

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Thu Nov 14, 2024 12:30 pm JST Earnings

7264 MURO CORPORATION 【J-GAAP】

Earnings Report

MURO CORPORATION <7264> [TSE-S] announced its financial results at noon (12:30) on November 14th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 61.9% from the same period last year to 513 million yen. The progress rate against the 1 billion yen full-year plan was 50.9%, below the five-year average of 55.3%.

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 decrease by 17.8% from the same period last year to 495 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 56 million yen, a 90.6% decrease compared to the same period last year. The operating profit margin drastically worsened from 8.2% in the same period last year to 4.6%.

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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	10,488	178	737	416	69.0	95.7	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	11,971	943	1,348	916	151.6	69.1	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	11,255	430	513	350	58.0	50.9	Nov 14, 2024	J-GAAP
YoY	-6.0%	-54.4%	-61.9%	-61.8%	-61.8%

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	11,255	430	513	350	57.9	22	Nov 13, 2024	J-GAAP
Apr - Sep, 2024 Results	11,255	430	513	350	58.0	22	Nov 14, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	+0.1%

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	11,684	503	602	401	66.4	22	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	11,337	385	495	188	31.1	23	Nov 13, 2024	J-GAAP
YoY	-3.0%	-23.5%	-17.8%	-53.1%	-53.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	21,842	410	770	291	48.2	44	May 12, 2023	J-GAAP
Mar, 2024	23,655	1,446	1,950	1,317	218.0	44	May 14, 2024	J-GAAP
Mar, 2025 Guidance	22,592	815	1,008	538	89.0	45	Nov 13, 2024	J-GAAP
YoY	-4.5%	-43.6%	-48.3%	-59.1%	-59.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,154	502	593	417	69.0	8.2	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	6,267	518	382	279	46.2	8.3	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	5,417	-15	220	122	20.2	-0.3	May 14, 2024	J-GAAP
Apr - Jun, 2024	5,548	170	457	338	56.1	3.1	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	5,707	260	56	12	2.0	4.6	Nov 14, 2024	J-GAAP
YoY	-7.3%	-48.2%	-90.6%	-97.1%	-97.1%