Mitsui O.S.K.Lines, The Current Fiscal Year Ordinary Profit Revised Upward by 12%, Dividend Revised Upward by 40 yen

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Fri Jan 31, 2025 12:00 pm JST Earnings

9104 Mitsui O.S.K.Lines,Ltd. 【J-GAAP】

Earnings Report

Mitsui O.S.K.Lines,Ltd. <9104> [TSE Prime] announced its financial results at noon (12:00) on January 31st. The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 374 billion yen, an increase 90.0% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward 12.3%, from the previous forecast of 365 billion yen to 410 billion yen (compared to 258 billion yen in the previous period), increasing the growth rate from 40.9% to 58.3%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) is expected to increase 38.8%, from the previous forecast of 115 billion yen to 160 billion yen (compared to 104 billion yen in the same period of the previous year), increasing the growth rate from 11.0% to 54.1%.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 300 yen to 340 yen (compared to 220 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit surged 2.9 times that of the same period last year, reaching 125 billion yen. The operating profit margin improved from 7.2% in the same period last year to 7.9%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022	1,257,968	96,244	739,254	723,245	2,003.1	91.1	Jan 31, 2023	J-GAAP
Apr - Dec, 2023	1,218,664	80,126	197,263	203,604	562.6	76.2	Jan 31, 2024	J-GAAP
Apr - Dec, 2024	1,318,676	122,321	374,869	368,133	1,019.4	91.4	Jan 31, 2025	J-GAAP
YoY	+8.2%	+52.7%	+90.0%	+80.8%	+81.2%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	889,372	63,815	115,972	103,303	295.7	120	Oct 31, 2024	J-GAAP
Oct - Mar, 2024 New	889,372	64,815	160,972	153,303	438.8	160	Jan 31, 2025	J-GAAP
Revision Rate	0.0%	+1.6%	+38.8%	+48.4%	+48.4%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	1,790,000	153,000	365,000	350,000	1,001.7	300	Oct 31, 2024	J-GAAP
Mar, 2025 New	1,790,000	154,000	410,000	400,000	1,144.9	340	Jan 31, 2025	J-GAAP
Revision Rate	0.0%	+0.7%	+12.3%	+14.3%	+14.3%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	837,810	53,832	104,455	110,859	306.3	110	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	889,372	64,815	160,972	153,303	438.8	160	Jan 31, 2025	J-GAAP
YoY	+6.2%	+20.4%	+54.1%	+38.3%	+43.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,611,984	108,709	811,589	796,060	2,204.0	560	Apr 28, 2023	J-GAAP
Mar, 2024	1,627,912	103,132	258,986	261,651	722.9	220	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	1,790,000	154,000	410,000	400,000	1,144.9	340	Jan 31, 2025	J-GAAP
YoY	+10.0%	+49.3%	+58.3%	+52.9%	+58.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	428,562	30,826	42,732	52,812	145.9	7.2	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	409,248	23,006	61,723	58,047	160.4	5.6	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	435,949	40,666	108,651	107,103	295.6	9.3	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	464,679	48,519	140,377	139,594	385.2	10.4	Oct 31, 2024	J-GAAP
Oct - Dec, 2024	418,048	33,136	125,841	121,436	336.3	7.9	Jan 31, 2025	J-GAAP
YoY	-2.5%	+7.5%	+194.5%	+129.9%	+130.4%