MITACHI , First Half Ordinary Profit Decreases by 2%

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Thu Dec 26, 2024 3:30 pm JST Earnings

3321 MITACHI CO.,LTD. 【J-GAAP】

Earnings Report

MITACHI CO.,LTD. <3321> [TSE Std] announced its financial results after the market closed on December 26th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending May 2025 (June to November) was 1 billion yen, a 2.0% decrease compared to the same period last year. The progress rate toward the full-year plan of 2.1 billion yen was 47.8%, also falling below the five-year average of 55.2%.

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 December to May period (2H) is expected to expand 60.7% from the same period last year, reaching 1.09 billion yen.

In the most recent three-month period, from September to November (2Q), the consolidated ordinary profit grew 15.8% from the same period last year, reaching 683 million yen. However, the operating profit margin worsened from 5.2% in the same period last year to 2.3%.

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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
Jun - Nov, 2022	23,610	1,653	1,677	1,160	146.0	68.4	Dec 27, 2022	J-GAAP
Jun - Nov, 2023	20,048	935	1,024	705	88.6	60.0	Dec 27, 2023	J-GAAP
Jun - Nov, 2024	39,908	947	1,004	718	90.2	47.8	Dec 26, 2024	J-GAAP
YoY	+99.1%	+1.3%	-2.0%	+1.8%	+1.8%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun - Nov, 2024 Guidance	40,000	900	1,000	600	75.3	25	Nov 22, 2024	J-GAAP
Jun - Nov, 2024 Results	39,908	947	1,004	718	90.2	25	Dec 26, 2024	J-GAAP
Revision Rate	-0.2%	+5.2%	+0.4%	+19.7%	+19.8%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec - May, 2023	18,851	656	682	517	65.0	25	Jul 5, 2024	J-GAAP
Dec - May, 2024 Guidance	50,092	953	1,096	632	79.3	25	Dec 26, 2024	J-GAAP
YoY	+165.7%	+45.3%	+60.7%	+22.2%	+22.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	43,271	2,490	2,452	1,693	212.9	65	Jul 7, 2023	J-GAAP
May, 2024	38,899	1,591	1,706	1,222	153.5	45	Jul 5, 2024	J-GAAP
May, 2025 Guidance	90,000	1,900	2,100	1,350	169.4	50	Nov 22, 2024	J-GAAP
YoY	+131.4%	+19.4%	+23.1%	+10.5%	+10.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	10,394	542	590	402	50.5	5.2	Dec 27, 2023	J-GAAP
Dec - Feb, 2023	9,667	356	322	224	28.2	3.7	Mar 29, 2024	J-GAAP
Mar - May, 2024	9,184	300	360	293	36.8	3.3	Jul 5, 2024	J-GAAP
Jun - Aug, 2024	9,272	252	321	227	28.6	2.7	Oct 4, 2024	J-GAAP
Sep - Nov, 2024	30,636	695	683	491	61.7	2.3	Dec 26, 2024	J-GAAP
YoY	+194.7%	+28.2%	+15.8%	+22.1%	+22.1%