MITANI CORPORATIN, First Half Ordinary Profit Increases by 12%, Current Fiscal Year Dividend Revised Upward by 7 yen

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Thu Nov 14, 2024 1:30 pm JST Earnings

8066 MITANI CORPORATIN 【J-GAAP】

Earnings Report

MITANI CORPORATIN <8066> [TSE-S] announced its financial results in the afternoon session on November 14th (13:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 11.8% from the same period last year, reaching 15.3 billion yen. The progress rate against the 27.8 billion yen full-year plan was 55.4%, also surpassing the five-year average of 45.8%.

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 22.2% from the same period last year to 12.4 billion yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 50 yen to 57 yen (compared to 55 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 7.7% from the same period last year, reaching 7.92 billion yen. The operating profit margin improved from 7.8% in the same period last year to 9.7%.

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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	150,275	9,770	12,141	7,430	82.5	49.9	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	156,654	11,166	13,768	8,613	96.5	46.3	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	158,045	14,285	15,388	9,729	111.6	55.4	Nov 14, 2024	J-GAAP
YoY	+0.9%	+27.9%	+11.8%	+13.0%	+15.7%

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	155,000	14,000	15,100	9,400	111.1	27	Nov 11, 2024	J-GAAP
Apr - Sep, 2024 Results	158,045	14,285	15,388	9,729	111.6	33	Nov 14, 2024	J-GAAP
Revision Rate	+2.0%	+2.0%	+1.9%	+3.5%	+0.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	305,000	26,000	27,800	15,900	189.9	50	Nov 11, 2024	J-GAAP
Mar, 2025 New	305,000	26,000	27,800	15,900	189.9	57	Nov 14, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

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	168,117	14,772	15,951	9,554	107.1	29	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	146,955	11,715	12,412	6,171	73.7	24	Nov 14, 2024	J-GAAP
YoY	-12.6%	-20.7%	-22.2%	-35.4%	-31.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	320,281	21,674	24,347	14,864	165.6	40	May 15, 2023	J-GAAP
Mar, 2024	324,771	25,938	29,719	18,167	203.6	55	May 15, 2024	J-GAAP
Mar, 2025 Guidance	305,000	26,000	27,800	15,900	189.9	57	Nov 14, 2024	J-GAAP
YoY	-6.1%	+0.2%	-6.5%	-12.5%	-6.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	81,377	6,376	7,361	4,703	52.7	7.8	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	84,522	7,415	7,685	4,906	55.0	8.8	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	83,595	7,357	8,266	4,648	52.1	8.8	May 15, 2024	J-GAAP
Apr - Jun, 2024	76,749	6,407	7,459	4,694	53.1	8.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	81,296	7,878	7,929	5,035	57.8	9.7	Nov 14, 2024	J-GAAP
YoY	-0.1%	+23.6%	+7.7%	+7.1%	+9.6%