Maezawa Industries, Sep-Nov (2Q) Ordinary Profit Decreases by 27%

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Fri Jan 10, 2025 3:00 pm JST Earnings

6489 Maezawa Industries,Inc. 【J-GAAP】

Earnings Report

Maezawa Industries,Inc. <6489> [TSE Std] announced its financial results in the afternoon session on January 10th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending May 2025 (June to November) increased 23.5% from the same period last year, reaching 0.55 billion yen. However, the progress rate toward the full-year plan of 4.5 billion yen was 12.4%, almost the same as the five-year average of 11.5%.

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 decrease 13.2% from the same period last year to 3.94 billion yen.

In the most recent three-month period, from September to November (2Q), the consolidated ordinary profit decreased to 0.63 billion yen, a 27.1% decrease compared to the same period last year. The operating profit margin decreased from 10.6% in the same period last year to 7.6%.

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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	12,019	186	238	467	25.8	7.1	Jan 13, 2023	J-GAAP
Jun - Nov, 2023	12,446	390	452	283	15.7	9.1	Jan 12, 2024	J-GAAP
Jun - Nov, 2024	13,982	499	558	334	18.9	12.4	Jan 10, 2025	J-GAAP
YoY	+12.3%	+27.9%	+23.5%	+18.0%	+20.8%

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	ー	ー	ー	ー	－	18	Jul 11, 2024	J-GAAP
Jun - Nov, 2024 Results	13,982	499	558	334	18.9	18	Jan 10, 2025	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
Dec - May, 2023	24,065	4,485	4,541	3,248	180.9	22	Jul 11, 2024	J-GAAP
Dec - May, 2024 Guidance	23,518	3,901	3,942	2,566	145.8	18	Jan 10, 2025	J-GAAP
YoY	-2.3%	-13.0%	-13.2%	-21.0%	-19.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	32,369	3,226	3,345	2,630	145.0	28	Jul 14, 2023	J-GAAP
May, 2024	36,511	4,875	4,993	3,531	196.7	36	Jul 11, 2024	J-GAAP
May, 2025 Guidance	37,500	4,400	4,500	2,900	164.8	36	Jul 11, 2024	J-GAAP
YoY	+2.7%	-9.7%	-9.9%	-17.9%	-16.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	8,177	866	868	576	31.9	10.6	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	11,027	2,421	2,475	1,674	93.0	22.0	Apr 12, 2024	J-GAAP
Mar - May, 2024	13,038	2,064	2,066	1,574	87.7	15.8	Jul 11, 2024	J-GAAP
Jun - Aug, 2024	5,615	-134	-75	-46	-2.6	-2.4	Oct 15, 2024	J-GAAP
Sep - Nov, 2024	8,367	633	633	380	21.5	7.6	Jan 10, 2025	J-GAAP
YoY	+2.3%	-26.9%	-27.1%	-34.0%	-32.5%