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Mitsuchi, The Current Fiscal Year Ordinary Profit Revised Upward by 16%

Mon Feb 3, 2025 3:30 pm JST Earnings

3439 Mitsuchi Corporation 【J-GAAP】

Earnings Report

Mitsuchi Corporation <3439> [TSE Std] announced its financial results after the market closed on February 3rd (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending June 2025 (July to December) decreased 22.7% from the same period last year to 191 million yen.

However, the full-year consolidated ordinary profit has been revised upward 16.2%, from the previous forecast of 382 million yen to 444 million yen (compared to 637 million yen in the previous period), and the declining rate is expected to decrease from 40.0% to 30.3%. However, the full-year consolidated net income has decreased 35.0%, from the previous forecast of 306 million yen to 199 million yen (compared to 419 million yen in the previous period), leading to an increase in the profit decline rate from 27.0% to 52.5%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the January to June period (2H) is expected to drop 35.1% from the same period last year to 253 million yen.

In the most recent three-month period, from October to December (2Q), the consolidated ordinary profit dropped to 143 million yen, a 33.2% decrease compared to the same period last year. The operating profit margin drastically worsened from 6.2% in the same period last year to 0.2%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jul - Dec, 2022 6,328 -22 45 -96 -19.1 31.9 Jan 31, 2023 J-GAAP
Jul - Dec, 2023 6,793 220 247 161 31.8 38.8 Jan 31, 2024 J-GAAP
Jul - Dec, 2024 6,303 131 191 -2 -0.4 43.0 Feb 3, 2025 J-GAAP
YoY -7.2% -40.5% -22.7%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 Guidance 7,004 182 221 173 34.2 10 Jul 31, 2024 J-GAAP
Jul - Dec, 2024 Results 6,303 131 191 -2 -0.4 10 Feb 3, 2025 J-GAAP
Revision Rate -10.0% -28.0% -13.6%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jun, 2025 Prev 13,872 352 382 306 65.6 20 Oct 31, 2024 J-GAAP
Jun, 2025 New 12,947 366 444 199 42.7 20 Feb 3, 2025 J-GAAP
Revision Rate -6.7% +4.0% +16.2% -35.0% -35.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan - Jun, 2024 6,354 246 390 258 51.0 15 Jul 31, 2024 J-GAAP
Jan - Jun, 2025 Guidance 6,644 235 253 201 43.1 10 Feb 3, 2025 J-GAAP
YoY +4.6% -4.5% -35.1% -22.1% -15.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jun, 2023 12,555 -31 141 -32 -6.4 0 Jul 31, 2023 J-GAAP
Jun, 2024 13,147 466 637 419 82.8 24.50 Jul 31, 2024 J-GAAP
Jun, 2025 Guidance 12,947 366 444 199 42.7 20 Feb 3, 2025 J-GAAP
YoY -1.5% -21.5% -30.3% -52.5% -48.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 3,605 225 214 152 30.1 6.2 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 3,164 176 242 166 32.8 5.6 Apr 26, 2024 J-GAAP
Apr - Jun, 2024 3,190 70 148 92 18.2 2.2 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 3,176 125 48 27 5.5 3.9 Oct 31, 2024 J-GAAP
Oct - Dec, 2024 3,127 6 143 -29 -6.0 0.2 Feb 3, 2025 J-GAAP
YoY -13.3% -97.3% -33.2%

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