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

Thu Nov 14, 2024 2:00 pm JST Earnings

4249 MORIROKU 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 3,400 231.4 105 May 14, 2024 J-GAAP
Mar, 2025 New 145,000 3,200 1,980 1,110 75.6 105 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 61.9 52.50 Nov 14, 2024 J-GAAP
YoY -6.8% -66.2% -69.1% -55.6% -54.5%

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 75.6 105 Nov 14, 2024 J-GAAP
YoY -0.4% -43.9% -68.0% -63.3% -62.4%

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%

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