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Morozoff Limited, February-October (Third Quarter Cumulative) Ordinary Profit Decreases by 54%, August-October Ordinary Profit Loss Widens

Wed Dec 11, 2024 3:30 pm JST Earnings

2217 Morozoff Limited 【J-GAAP】

Earnings Report

Morozoff Limited <2217> [TSE Prime] announced its financial results after the market closed on December 11th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending January 2025 (February to October) significantly dropped 53.8% from the same period last year to 233 million yen. The progress rate toward the full-year plan of 2.02 billion yen was 11.5%, almost the same as the five-year average of 12.8%.

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 November to January period (4Q) is expected to decrease 11.2% from the same period last year to 1.78 billion yen.

In the most recent three-month period, from August to October (3Q), the consolidated ordinary loss expanded to a loss of 515 million yen (compared to a loss of 352 million yen in the same period last year). The operating profit/loss margin worsened from -6.0% in the same period last year to -8.8%.

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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
Feb - Oct, 2022 19,921 430 624 337 16.0 23.9 Dec 6, 2022 J-GAAP
Feb - Oct, 2023 21,652 480 504 255 12.1 20.0 Dec 11, 2023 J-GAAP
Feb - Oct, 2024 22,340 210 233 345 16.7 11.5 Dec 11, 2024 J-GAAP
YoY +3.2% -56.3% -53.8% +35.3% +38.2%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug - Jan, 2023 19,185 1,640 1,661 1,176 55.9 32.67 Mar 15, 2024 J-GAAP
Aug - Jan, 2024 Guidance 19,380 1,273 1,272 864 42.8 14.33 Sep 11, 2024 J-GAAP
YoY +1.0% -22.4% -23.4% -26.5% -23.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan, 2023 32,505 2,423 2,615 1,703 80.7 21.67 Mar 16, 2023 J-GAAP
Jan, 2024 34,933 2,474 2,517 1,715 81.6 32.67 Mar 15, 2024 J-GAAP
Jan, 2025 Guidance 35,850 2,000 2,020 1,350 66.8 26 Sep 11, 2024 J-GAAP
YoY +2.6% -19.2% -19.7% -21.3% -18.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Aug - Oct, 2023 5,904 -354 -352 -284 -13.5 -6.0 Dec 11, 2023 J-GAAP
Nov - Jan, 2023 13,281 1,994 2,013 1,460 69.4 15.0 Mar 15, 2024 J-GAAP
Feb - Apr, 2024 9,310 728 732 500 24.1 7.8 Jun 10, 2024 J-GAAP
May - Jul, 2024 7,160 -1 16 -14 -0.7 0.0 Sep 11, 2024 J-GAAP
Aug - Oct, 2024 5,870 -517 -515 -141 -6.8 -8.8 Dec 11, 2024 J-GAAP
YoY -0.6% -46.0% -46.3% +50.4% +49.3%

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