MAINICHI COMNET , First Half Ordinary Profit Decreases by 80%, Sep-Nov Ordinary Profit Decreases by 6%

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Fri Jan 10, 2025 3:30 pm JST Earnings

8908 MAINICHI COMNET CO., LTD. 【J-GAAP】

Earnings Report

MAINICHI COMNET CO., LTD. <8908> [TSE Std] announced its financial results after the market closed on January 10th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending May 2025 (June to November) significantly dropped 80.4% from the same period last year to 0.17 billion yen. The progress rate toward the full-year plan of 2.27 billion yen was 7.7%, also falling below the five-year average of 28.8%.

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 57.4% from the same period last year, reaching 2.09 billion yen.

In the most recent three-month period, from September to November (2Q), the consolidated ordinary profit decreased to 0.07 billion yen, a 6.3% decrease compared to the same period last year. However, the operating profit margin remained almost flat, changing from 2.2% in the same period last year to 2.4%.

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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	11,355	864	878	588	32.7	42.2	Jan 12, 2023	J-GAAP
Jun - Nov, 2023	10,439	904	886	601	34.1	39.9	Jan 11, 2024	J-GAAP
Jun - Nov, 2024	8,793	232	174	121	6.9	7.7	Jan 10, 2025	J-GAAP
YoY	-15.8%	-74.3%	-80.4%	-79.9%	-79.7%

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	8,735	215	145	103	5.8	9	Nov 25, 2024	J-GAAP
Jun - Nov, 2024 Results	8,793	232	174	121	6.9	9	Jan 10, 2025	J-GAAP
Revision Rate	+0.7%	+7.9%	+20.0%	+17.5%	+18.3%

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	10,333	1,388	1,332	883	50.1	22	Jul 12, 2024	J-GAAP
Dec - May, 2024 Guidance	13,237	2,178	2,096	1,399	79.4	22	Jan 10, 2025	J-GAAP
YoY	+28.1%	+56.9%	+57.4%	+58.4%	+58.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	21,248	2,081	2,083	1,381	77.0	28	Jul 13, 2023	J-GAAP
May, 2024	20,772	2,292	2,218	1,484	84.2	30	Jul 12, 2024	J-GAAP
May, 2025 Guidance	22,030	2,410	2,270	1,520	86.3	31	Jul 12, 2024	J-GAAP
YoY	+6.1%	+5.1%	+2.3%	+2.4%	+2.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	4,084	89	79	46	2.6	2.2	Jan 11, 2024	J-GAAP
Dec - Feb, 2023	4,138	-34	-59	-49	-2.8	-0.8	Apr 10, 2024	J-GAAP
Mar - May, 2024	6,195	1,422	1,391	932	52.9	23.0	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	4,434	127	100	75	4.3	2.9	Oct 10, 2024	J-GAAP
Sep - Nov, 2024	4,359	105	74	46	2.6	2.4	Jan 10, 2025	J-GAAP
YoY	+6.7%	+18.0%	-6.3%	0.0%	+0.8%