Meiji Shipping, Apr-Dec (Cumulative 3Q) Ordinary Profit Increases by 37%, Oct-Dec Ordinary Profit Increases by 2.1 times

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Fri Jan 31, 2025 1:00 pm JST Earnings

9115 Meiji Shipping Group Co., Ltd. 【J-GAAP】

Earnings Report

Meiji Shipping Group Co., Ltd. <9115> [TSE Std] announced its financial results in the afternoon session on January 31st (13:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 5.67 billion yen, an increase 36.7% compared to the same period last year. The progress rate toward the full-year plan of 8 billion yen was 70.9%, exceeding the five-year average of 63.6%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the January to March period (4Q) is expected to expand 38.0% from the same period last year, reaching 2.32 billion yen.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit surged 2.1 times that of the same period last year, reaching 3.59 billion yen. The operating profit margin rose from 18.3% in the same period last year to 18.7%.

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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	43,141	5,762	2,073	5,427	160.5	32.2	Jan 27, 2023	J-GAAP
Apr - Dec, 2023	50,409	9,353	4,151	3,119	92.3	71.1	Jan 31, 2024	J-GAAP
Apr - Dec, 2024	48,465	8,372	5,674	1,329	39.3	70.9	Jan 31, 2025	J-GAAP
YoY	-3.9%	-10.5%	+36.7%	-57.4%	-57.4%

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	32,705	5,356	3,430	3,301	97.7	5	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	28,501	4,235	5,923	3,025	89.2	－	Oct 31, 2024	J-GAAP
YoY	-12.9%	-20.9%	+72.7%	-8.4%	-8.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	58,061	8,764	6,443	6,439	190.2	5	May 12, 2023	J-GAAP
Mar, 2024	65,018	11,398	5,836	5,189	153.5	5	May 15, 2024	J-GAAP
Mar, 2025 Guidance	61,400	9,700	8,000	3,800	112.0	－	May 15, 2024	J-GAAP
YoY	-5.6%	-14.9%	+37.1%	-26.8%	-27.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	18,096	3,311	1,745	1,231	36.4	18.3	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	14,609	2,045	1,685	2,070	61.3	14.0	May 15, 2024	J-GAAP
Apr - Jun, 2024	15,969	3,050	1,745	906	26.9	19.1	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	16,930	2,415	332	-131	-3.9	14.3	Oct 31, 2024	J-GAAP
Oct - Dec, 2024	15,566	2,907	3,597	554	16.4	18.7	Jan 31, 2025	J-GAAP
YoY	-14.0%	-12.2%	+106.1%	-55.0%	-55.0%