MEIJI ELECTRIC INDUSTRIES, Oct-Dec (3Q) Ordinary Profit Increases by 22%

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Fri Jan 31, 2025 3:30 pm JST Earnings

3388 MEIJI ELECTRIC INDUSTRIES CO., LTD. 【J-GAAP】

Earnings Report

MEIJI ELECTRIC INDUSTRIES CO., LTD. <3388> [TSE Prime] announced its financial results after the market closed on January 31st (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 13.4% from the same period last year to 1.8 billion yen. The progress rate toward the full-year plan of 3.22 billion yen was 55.9%, almost the same as the five-year average of 57.6%.

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 grow 13.2% from the same period last year, reaching 1.41 billion yen.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 21.9% from the same period last year, reaching 0.87 billion yen. The operating profit margin remained almost flat, changing from 3.8% in the same period last year to 3.9%.

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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	47,794	1,177	1,395	1,015	80.2	45.7	Jan 31, 2023	J-GAAP
Apr - Dec, 2023	52,375	1,793	2,079	1,482	117.1	62.4	Jan 31, 2024	J-GAAP
Apr - Dec, 2024	53,056	1,559	1,801	1,273	100.0	55.9	Jan 31, 2025	J-GAAP
YoY	+1.3%	-13.1%	-13.4%	-14.1%	-14.5%

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	40,611	1,814	1,970	1,462	115.4	38	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	43,327	2,182	2,293	1,603	125.9	30	Oct 31, 2024	J-GAAP
YoY	+6.7%	+20.3%	+16.4%	+9.6%	+9.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	70,947	2,724	3,050	2,191	173.2	52	May 15, 2023	J-GAAP
Mar, 2024	74,580	2,914	3,332	2,426	191.5	58	May 14, 2024	J-GAAP
Mar, 2025 Guidance	77,500	3,010	3,220	2,240	175.9	60	Oct 31, 2024	J-GAAP
YoY	+3.9%	+3.3%	-3.4%	-7.7%	-8.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	18,406	693	717	518	40.9	3.8	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	22,205	1,121	1,253	944	74.5	5.0	May 14, 2024	J-GAAP
Apr - Jun, 2024	15,148	45	189	133	10.5	0.3	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	19,025	783	738	504	39.6	4.1	Oct 31, 2024	J-GAAP
Oct - Dec, 2024	18,883	731	874	636	50.0	3.9	Jan 31, 2025	J-GAAP
YoY	+2.6%	+5.5%	+21.9%	+22.8%	+22.1%