MegaChips, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 28% Decrease, Dividend Revised Upward by 20 yen

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Fri Feb 7, 2025 3:30 pm JST Earnings

6875 MegaChips Corporation 【J-GAAP】

Earnings Report

MegaChips Corporation <6875> [TSE Prime] announced its financial results after the market closed on February 7th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 22.8% from the same period last year to 2.39 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 37.5%, from the previous forecast of 4 billion yen to 2.5 billion yen (compared to 3.45 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 27.7% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has decreased 72.9%, from the previous forecast of 2.05 billion yen to 0.55 billion yen (compared to 0.89 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 37.6% decrease in profit.

At the same time, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 120 yen to 140 yen (compared to 110 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit decreased to 0.45 billion yen, a 16.3% decrease compared to the same period last year. The operating profit margin drastically worsened from 6.6% in the same period last year to 2.0%.

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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	56,070	5,542	7,003	4,678	243.9	95.8	Feb 3, 2023	J-GAAP
Apr - Dec, 2023	47,601	4,457	3,109	2,087	112.3	90.0	Feb 9, 2024	J-GAAP
Apr - Dec, 2024	34,544	1,971	2,399	3,399	192.2	96.0	Feb 7, 2025	J-GAAP
YoY	-27.4%	-55.8%	-22.8%	+62.9%	+71.0%

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	27,147	2,221	2,057	1,934	113.3	120	Nov 8, 2024	J-GAAP
Oct - Mar, 2024 New	20,147	521	557	1,934	113.3	140	Feb 7, 2025	J-GAAP
Revision Rate	-25.8%	-76.5%	-72.9%	0.0%	0.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	52,000	4,000	4,000	5,000	292.9	120	May 10, 2024	J-GAAP
Mar, 2025 New	45,000	2,300	2,500	5,000	292.9	140	Feb 7, 2025	J-GAAP
Revision Rate	-13.5%	-42.5%	-37.5%	0.0%	0.0%

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	21,441	1,761	892	2,797	151.1	110	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	20,147	521	557	1,934	113.3	140	Feb 7, 2025	J-GAAP
YoY	-6.0%	-70.4%	-37.6%	-30.9%	-25.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	70,722	6,029	7,311	7,086	369.4	90	May 12, 2023	J-GAAP
Mar, 2024	57,942	5,483	3,456	4,486	242.3	110	May 10, 2024	J-GAAP
Mar, 2025 Guidance	45,000	2,300	2,500	5,000	292.9	140	Feb 7, 2025	J-GAAP
YoY	-22.3%	-58.1%	-27.7%	+11.5%	+20.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	11,100	735	545	398	21.4	6.6	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	10,341	1,026	347	2,399	129.6	9.9	May 10, 2024	J-GAAP
Apr - Jun, 2024	9,660	874	584	2,187	121.9	9.0	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	15,193	905	1,359	879	49.2	6.0	Nov 8, 2024	J-GAAP
Oct - Dec, 2024	9,691	192	456	333	18.8	2.0	Feb 7, 2025	J-GAAP
YoY	-12.7%	-73.9%	-16.3%	-16.3%	-12.1%