MORIROKU HOLDINGS COMPANY,LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 59%

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Thu Nov 14, 2024 2:00 pm JST Earnings

4249 MORIROKU HOLDINGS COMPANY,LTD. 【J-GAAP】

Earnings Report

MORIROKU HOLDINGS COMPANY,LTD. <4249> [TSE-P] announced its financial results in the afternoon session on November 14th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 64.7% from the same period last year to 562 million yen, resulting in a decrease in profits compared to the previous forecast of a 6.6% increase.

In addition, the full-year consolidated ordinary profit has downwardly by 58.8%, from the previous forecast of 4.8 billion yen to 1.98 billion yen (compared to 6.18 billion yen in the previous period), leading to an increase in the profit decline rate from 22.4% to 68.0%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to significant drop by 69.1% from the same period last year to 1.41 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 1.01 billion yen (compared to a profit of 1.01 billion yen in the same period last year). The operating profit margin worsened from 2.5% in the same period last year to 0.6%.

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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	69,378	-42	330	-615	-39.0	20.7	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	66,969	1,049	1,594	976	64.6	25.8	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	71,670	1,626	562	201	13.7	28.4	Nov 14, 2024	J-GAAP
YoY	+7.0%	+55.0%	-64.7%	-79.4%	-78.8%

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	72,600	1,900	1,700	1,000	68.3	52.50	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	71,670	1,626	562	201	13.7	52.50	Nov 14, 2024	J-GAAP
Revision Rate	-1.3%	-14.4%	-66.9%	-79.9%	-79.9%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	150,000	5,200	4,800	3,400	232.1	105	May 14, 2024	J-GAAP
Mar, 2025 New	145,000	3,200	1,980	1,110	75.8	105	Nov 14, 2024	J-GAAP
Revision Rate	-3.3%	-38.5%	-58.8%	-67.4%	-67.4%

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	78,669	4,657	4,589	2,046	136.1	50	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	73,330	1,574	1,418	909	62.1	52.50	Nov 14, 2024	J-GAAP
YoY	-6.8%	-66.2%	-69.1%	-55.6%	-54.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	142,019	1,335	1,596	1,346	86.3	100	May 12, 2023	J-GAAP
Mar, 2024	145,638	5,706	6,183	3,022	201.0	100	May 14, 2024	J-GAAP
Mar, 2025 Guidance	145,000	3,200	1,980	1,110	75.8	105	Nov 14, 2024	J-GAAP
YoY	-0.4%	-43.9%	-68.0%	-63.3%	-62.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	34,443	876	1,013	562	37.2	2.5	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	39,116	2,480	2,314	1,730	114.7	6.3	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	39,553	2,177	2,275	316	21.0	5.5	May 14, 2024	J-GAAP
Apr - Jun, 2024	36,260	1,408	1,573	1,549	105.3	3.9	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	35,410	218	-1,011	-1,348	-92.0	0.6	Nov 14, 2024	J-GAAP
YoY	+2.8%	-75.1%	－	－	－