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

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%

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