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Meiwa, The Current Fiscal Year Ordinary Profit Revised Upward by 5%, Dividend Revised Upward by 5 yen

Fri Jan 31, 2025 1:30 pm JST Earnings

8103 Meiwa Corporation 【J-GAAP】

Earnings Report

Meiwa Corporation <8103> [TSE Prime] announced its financial results in the afternoon session on January 31st (13:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 18.5% from the same period last year, reaching 3.5 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward 5.3%, from the previous forecast of 3.8 billion yen to 4 billion yen (compared to 4.03 billion yen in the previous period), and the declining rate is expected to decrease from 5.8% to 0.8%.

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) has been revised upward 10.3%, from the previous forecast of 1.94 billion yen to 2.14 billion yen (compared to 2.44 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 20.7% to 12.5%.

In light of the strong performance, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 32 yen to 37 yen (compared to 34 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 19.9% from the same period last year, reaching 1.64 billion yen. The operating profit margin improved from 2.5% in the same period last year to 3.1%.

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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 119,194 3,012 3,077 1,862 44.6 97.1 Jan 31, 2023 J-GAAP
Apr - Dec, 2023 118,237 2,306 2,953 1,943 46.6 73.2 Jan 31, 2024 J-GAAP
Apr - Dec, 2024 120,355 2,814 3,500 2,446 60.2 87.5 Jan 31, 2025 J-GAAP
YoY +1.8% +22.0% +18.5% +25.9% +29.1%

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 87,843 1,401 1,943 1,279 31.8 32 Oct 31, 2024 J-GAAP
Oct - Mar, 2024 New 78,843 1,801 2,143 1,679 41.8 37 Jan 31, 2025 J-GAAP
Revision Rate -10.2% +28.6% +10.3% +31.3% +31.3%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 166,000 2,900 3,800 2,600 64.7 32 Apr 30, 2024 J-GAAP
Mar, 2025 New 157,000 3,300 4,000 3,000 74.6 37 Jan 31, 2025 J-GAAP
Revision Rate -5.4% +13.8% +5.3% +15.4% +15.4%

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 83,287 1,741 2,449 1,783 42.8 34 Apr 30, 2024 J-GAAP
Oct - Mar, 2024 Guidance 78,843 1,801 2,143 1,679 41.8 37 Jan 31, 2025 J-GAAP
YoY -5.3% +3.4% -12.5% -5.8% -2.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 156,662 3,655 3,169 1,720 41.2 25 Apr 28, 2023 J-GAAP
Mar, 2024 158,279 2,970 4,032 2,754 66.1 34 Apr 30, 2024 J-GAAP
Mar, 2025 Guidance 157,000 3,300 4,000 3,000 74.6 37 Jan 31, 2025 J-GAAP
YoY -0.8% +11.1% -0.8% +8.9% +12.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 43,245 1,077 1,370 972 23.3 2.5 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 40,042 664 1,079 811 19.5 1.7 Apr 30, 2024 J-GAAP
Apr - Jun, 2024 39,742 780 1,071 756 18.4 2.0 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 38,415 719 786 565 13.8 1.9 Oct 31, 2024 J-GAAP
Oct - Dec, 2024 42,198 1,315 1,643 1,125 27.7 3.1 Jan 31, 2025 J-GAAP
YoY -2.4% +22.1% +19.9% +15.7% +18.7%

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