MATSUMOTO YUSHI-SEIYAKU CO.,LTD., First Half Ordinary Profit Decreases by 25%, July-September Ordinary Profit Decreases by 76%

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Thu Nov 14, 2024 3:30 pm JST Earnings

4365 MATSUMOTO YUSHI-SEIYAKU CO.,LTD. 【J-GAAP】

Earnings Report

MATSUMOTO YUSHI-SEIYAKU CO.,LTD. <4365> [TSE-S] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 24.7% from the same period last year to 4.48 billion yen. However, The progress rate against the 8 billion yen full-year plan was 56.1%, also surpassing the five-year average of 48.6%.

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 26.4% from the same period last year to 3.51 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 684 million yen, a 75.6% decrease compared to the same period last year. The operating profit margin decreased from 22.0% in the same period last year to 20.7%.

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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	20,630	4,306	6,252	4,391	1,357.2	66.0	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	21,160	4,523	5,958	4,196	1,446.4	55.5	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	22,288	5,090	4,484	3,195	1,101.3	56.1	Nov 14, 2024	J-GAAP
YoY	+5.3%	+12.5%	-24.7%	-23.9%	-23.9%

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	ー	ー	ー	ー	－	0	Aug 9, 2024	J-GAAP
Apr - Sep, 2024 Results	22,288	5,090	4,484	3,195	1,101.3	0	Nov 14, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	20,366	4,235	4,775	3,308	1,140.2	400	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	19,012	3,410	3,516	2,305	794.5	400	Nov 14, 2024	J-GAAP
YoY	-6.6%	-19.5%	-26.4%	-30.3%	-30.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	39,627	7,777	9,472	7,247	2,259.4	350	May 15, 2023	J-GAAP
Mar, 2024	41,526	8,758	10,733	7,504	2,586.4	400	May 15, 2024	J-GAAP
Mar, 2025 Guidance	41,300	8,500	8,000	5,500	1,895.7	400	Aug 9, 2024	J-GAAP
YoY	-0.5%	-2.9%	-25.5%	-26.7%	-26.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	10,643	2,345	2,803	1,974	680.4	22.0	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	10,834	2,308	2,116	1,462	503.9	21.3	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	9,532	1,927	2,659	1,846	636.3	20.2	May 15, 2024	J-GAAP
Apr - Jun, 2024	11,665	2,890	3,800	2,701	931.2	24.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	10,623	2,200	684	494	170.3	20.7	Nov 14, 2024	J-GAAP
YoY	-0.2%	-6.2%	-75.6%	-75.0%	-75.0%