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MUGEN ESTATE, Last Fiscal Year Ordinary Profit Revised Upward by 9%, Exceeded Record Profit Forecast, Dividend Revised Upward by 12 yen

Wed Jan 29, 2025 2:00 pm JST Revision

3299 MUGEN ESTATE Co.,Ltd. 【J-GAAP】

Guidance Update Report

MUGEN ESTATE Co.,Ltd. <3299> [TSE Std] announced a revision to its performance and dividend in the afternoon session on January 29th (14:00). The consolidated ordinary profit for the fiscal year ending December 2024 has been revised upward 8.5%, from the previous forecast of 8.15 billion yen to 8.85 billion yen (compared to 5.24 billion yen in the previous period), increasing the growth rate from 55.5% to 68.8%. The company has further increased its previous forecast of record profits for the first time in seven years.

Based on the upwardly revised full-year plan announced by the company, our calculation indicates that the July to December period (2H) consolidated ordinary profit is expected to increase 19.9%, from the previous forecast of 3.5 billion yen to 4.2 billion yen (compared to 2.32 billion yen in the same period of the previous year), increasing the growth rate from 50.9% to 80.9%.

In light of the strong performance, the company has increased its planned year-end lump-sum dividend for the last fiscal year from the original plan of 92 yen to 104 yen (compared to 63 yen in the previous period).

Kabutan News

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 Prev 29,722 3,916 3,509 2,308 99.2 92 Nov 5, 2024 J-GAAP
Jul - Dec, 2024 New 30,685 4,586 4,206 3,017 128.6 104 Jan 29, 2025 J-GAAP
Revision Rate +3.2% +17.1% +19.9% +30.7% +29.7%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 61,224 8,945 8,154 5,372 230.9 92 Nov 5, 2024 J-GAAP
Dec, 2024 New 62,187 9,615 8,851 6,081 259.3 104 Jan 29, 2025 J-GAAP
Revision Rate +1.6% +7.5% +8.5% +13.2% +12.3%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 25,393 2,633 2,325 1,724 73.3 63 Feb 14, 2024 J-GAAP
Jul - Dec, 2024 Guidance 30,685 4,586 4,206 3,017 128.6 104 Jan 29, 2025 J-GAAP
YoY +20.8% +74.2% +80.9% +75.0% +75.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 31,242 2,976 2,309 1,564 66.6 20 Feb 14, 2023 J-GAAP
Dec, 2023 51,640 5,936 5,243 3,653 155.3 63 Feb 14, 2024 J-GAAP
Dec, 2024 Guidance 62,187 9,615 8,851 6,081 259.3 104 Jan 29, 2025 J-GAAP
YoY +20.4% +62.0% +68.8% +66.5% +67.0%

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