Mitsui High-tec, February-October (Third Quarter Cumulative) Ordinary Profit Decreases by 23%

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Thu Dec 12, 2024 3:30 pm JST Earnings

6966 Mitsui High-tec, Inc. 【J-GAAP】

Earnings Report

Mitsui High-tec, Inc. <6966> [TSE Prime] announced its financial results after the market closed on December 12th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending January 2025 (February to October) decreased 22.5% from the same period last year to 12.9 billion yen. However, The progress rate toward the full-year plan of 13.5 billion yen was 96.1%, also surpassing the five-year average of 71.6%.

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 significant drop 89.5% from the same period last year to 524 million yen.

In the most recent three-month period, from August to October (3Q), the consolidated ordinary profit dropped to 3.54 billion yen, a 41.0% decrease compared to the same period last year. The operating profit margin worsened from 9.2% in the same period last year to 6.7%.

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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	130,922	18,497	21,200	16,955	92.8	93.5	Dec 9, 2022	J-GAAP
Feb - Oct, 2023	144,078	13,076	16,749	11,765	64.4	77.1	Dec 13, 2023	J-GAAP
Feb - Oct, 2024	158,208	11,465	12,976	9,346	51.2	96.1	Dec 12, 2024	J-GAAP
YoY	+9.8%	-12.3%	-22.5%	-20.6%	-20.5%

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	102,267	9,691	10,994	7,838	42.9	9.60	Mar 12, 2024	J-GAAP
Aug - Jan, 2024 Guidance	110,031	5,150	4,069	2,425	13.3	12	Sep 10, 2024	J-GAAP
YoY	+7.6%	-46.9%	-63.0%	-69.1%	-69.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2023	174,615	22,586	22,669	17,581	96.2	13	Mar 14, 2023	J-GAAP
Jan, 2024	195,881	18,119	21,733	15,545	85.1	14.40	Mar 12, 2024	J-GAAP
Jan, 2025 Guidance	214,000	13,000	13,500	9,500	52.0	17.60	Sep 10, 2024	J-GAAP
YoY	+9.3%	-28.3%	-37.9%	-38.9%	-38.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Aug - Oct, 2023	50,464	4,648	6,010	4,058	22.2	9.2	Dec 13, 2023	J-GAAP
Nov - Jan, 2023	51,803	5,043	4,984	3,780	20.7	9.7	Mar 12, 2024	J-GAAP
Feb - Apr, 2024	50,431	3,971	6,462	4,777	26.1	7.9	Jun 14, 2024	J-GAAP
May - Jul, 2024	53,538	3,879	2,969	2,298	12.6	7.2	Sep 10, 2024	J-GAAP
Aug - Oct, 2024	54,239	3,615	3,545	2,271	12.4	6.7	Dec 12, 2024	J-GAAP
YoY	+7.5%	-22.2%	-41.0%	-44.0%	-44.0%