MUGEN ESTATE Co.,Ltd., January-September (Third Quarter Cumulative) Ordinary Profit Increases by 53%, July-September Ordinary Profit Increases by 41%

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Thu Nov 14, 2024 2:00 pm JST Earnings

3299 MUGEN ESTATE Co.,Ltd. 【J-GAAP】

Earnings Report

MUGEN ESTATE Co.,Ltd. <3299> [TSE-S] announced its financial results in the afternoon session on November 14th (14:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 6.99 billion yen, an increase of 52.6% compared to the same period last year. The progress rate against the 8.15 billion yen full-year plan was 85.8%, also surpassing the five-year average of 75.2%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to expand by 76.2% from the same period last year, reaching 1.15 billion yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit increased by 41.0% from the same period last year, reaching 2.35 billion yen. The operating profit margin rose from 13.5% in the same period last year to 15.1%.

Kabutan News

Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	21,709	1,978	1,491	1,017	43.3	64.6	Nov 14, 2022	J-GAAP
Jan - Sep, 2023	39,993	5,164	4,587	3,047	129.6	87.5	Nov 14, 2023	J-GAAP
Jan - Sep, 2024	48,352	7,577	6,998	4,613	196.2	85.8	Nov 14, 2024	J-GAAP
YoY	+20.9%	+46.7%	+52.6%	+51.4%	+51.4%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	25,393	2,633	2,325	1,724	73.3	63	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	29,722	3,916	3,509	2,308	99.2	92	Nov 5, 2024	J-GAAP
YoY	+17.0%	+48.7%	+50.9%	+33.9%	+35.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	31,242	2,976	2,309	1,564	66.6	20	Feb 14, 2023	J-GAAP
Dec, 2023	51,640	5,936	5,243	3,653	155.3	63	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	61,224	8,945	8,154	5,372	230.9	92	Nov 5, 2024	J-GAAP
YoY	+18.6%	+50.7%	+55.5%	+47.1%	+48.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	13,746	1,861	1,669	1,118	47.5	13.5	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	11,647	772	656	606	25.8	6.6	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	12,307	1,182	993	651	27.6	9.6	May 10, 2024	J-GAAP
Apr - Jun, 2024	19,195	3,847	3,652	2,413	102.3	20.0	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	16,850	2,548	2,353	1,549	65.9	15.1	Nov 14, 2024	J-GAAP
YoY	+22.6%	+36.9%	+41.0%	+38.6%	+38.6%