MS&AD Insurance Group Holdings, Inc., The Current Fiscal Year Ordinary Profit Revised Upward by 3%, Adds to Record High Profit Forecast

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Tue Nov 19, 2024 3:30 pm JST Earnings

8725 MS&AD Insurance Group Holdings, Inc. 【J-GAAP】

Earnings Report

MS&AD Insurance Group Holdings, Inc. <8725> [TSE-P] announced its financial results after the market closed on November 19th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 4.8 times that of the same period last year, reaching 630 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 2.5%, from the previous forecast of 871 billion yen to 893 billion yen (compared to 416 billion yen in the previous period), increasing the growth rate from 2.1 times to 2.1 times, further surpassing the previous forecast of record-high profits for two consecutive terms.

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 decrease by 8.0% from the same period last year to 262 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a profit of profit of 332 billion yen (compared to a loss of 24 billion yen in the same period last year).

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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	2,824,773	ー	23,856	-1,159	-0.7	8.2	Nov 18, 2022	J-GAAP
Apr - Sep, 2023	3,628,542	ー	131,413	87,511	54.8	31.6	Nov 17, 2023	J-GAAP
Apr - Sep, 2024	3,447,807	ー	630,802	458,987	290.1	70.6	Nov 19, 2024	J-GAAP
YoY	-5.0%	－	+380.0%	+424.5%	+429.8%

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	ー	ー	ー	ー	－	72.50	May 20, 2024	J-GAAP
Apr - Sep, 2024 Results	3,447,807	ー	630,802	458,987	290.1	72.50	Nov 19, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	ー	ー	871,000	610,000	399.1	145	May 20, 2024	J-GAAP
Mar, 2025 New	ー	ー	893,000	630,000	412.2	145	Nov 19, 2024	J-GAAP
Revision Rate	－	－	+2.5%	+3.3%	+3.3%

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	2,944,347	ー	285,027	281,755	176.9	50	May 20, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	262,198	171,013	111.9	72.50	Nov 19, 2024	J-GAAP
YoY	－	－	-8.0%	-39.3%	-36.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	5,250,794	ー	292,262	211,006	130.5	66.67	May 19, 2023	J-GAAP
Mar, 2024	6,572,889	ー	416,440	369,266	231.8	90	May 20, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	893,000	630,000	412.2	145	Nov 19, 2024	J-GAAP
YoY	－	－	+114.4%	+70.6%	+77.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,652,605	ー	-24,041	-24,106	-15.1	0.0	Nov 17, 2023	J-GAAP
Oct - Dec, 2023	1,319,249	ー	255,166	194,085	121.7	0.0	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	1,625,098	ー	29,861	87,670	55.0	0.0	May 20, 2024	J-GAAP
Apr - Jun, 2024	1,937,162	ー	298,624	204,270	128.8	0.0	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	1,510,645	ー	332,178	254,717	161.0	0.0	Nov 19, 2024	J-GAAP
YoY	-8.6%	－	－	－	－