Meito Sangyo, The Current Fiscal Year Ordinary Profit Revised Upward by 10%, Dividend Revised Upward by 2 yen

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Mon Feb 10, 2025 2:00 pm JST Earnings

2207 Meito Sangyo Co.,Ltd. 【J-GAAP】

Earnings Report

Meito Sangyo Co.,Ltd. <2207> [TSE Prime] announced its financial results in the afternoon session on February 10th (14:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 2.5 billion yen, an increase 85.8% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward 10.4%, from the previous forecast of 2.4 billion yen to 2.65 billion yen (compared to 1.43 billion yen in the previous period), increasing the growth rate from 67.8% to 85.3%.

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) is expected to increase 33.3%, from the previous forecast of 0.75 billion yen to 1 billion yen (compared to 0.78 billion yen in the same period of the previous year), turning to a 27.5% increase in the consolidated ordinary profit outlook.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 33 yen to 35 yen (compared to 28 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 21.7% from the same period last year, reaching 0.85 billion yen. However, the operating profit margin remained almost flat, changing from 4.5% in the same period last year to 4.4%.

Kabutan News

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	16,549	-7	901	583	34.5	79.6	Feb 10, 2023	J-GAAP
Apr - Dec, 2023	18,236	258	1,349	957	56.6	94.3	Feb 9, 2024	J-GAAP
Apr - Dec, 2024	21,299	1,253	2,506	4,430	261.8	94.6	Feb 10, 2025	J-GAAP
YoY	+16.8%	+385.7%	+85.8%	+362.9%	+362.2%

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	14,185	277	751	1,001	59.1	16	Nov 8, 2024	J-GAAP
Oct - Mar, 2024 New	14,185	427	1,001	1,251	73.9	18	Feb 10, 2025	J-GAAP
Revision Rate	0.0%	+54.2%	+33.3%	+25.0%	+25.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	28,000	1,200	2,400	4,400	259.9	33	Nov 8, 2024	J-GAAP
Mar, 2025 New	28,000	1,350	2,650	4,650	274.7	35	Feb 10, 2025	J-GAAP
Revision Rate	0.0%	+12.5%	+10.4%	+5.7%	+5.7%

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	13,102	290	785	-1,171	-69.3	15	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	14,185	427	1,001	1,251	73.9	18	Feb 10, 2025	J-GAAP
YoY	+8.3%	+47.2%	+27.5%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	22,727	95	1,132	700	41.5	26	May 12, 2023	J-GAAP
Mar, 2024	24,392	232	1,430	-703	-41.6	28	May 13, 2024	J-GAAP
Mar, 2025 Guidance	28,000	1,350	2,650	4,650	274.7	35	Feb 10, 2025	J-GAAP
YoY	+14.8%	+481.9%	+85.3%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	6,946	316	704	489	28.9	4.5	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	6,156	-26	81	-1,660	-98.2	-0.4	May 13, 2024	J-GAAP
Apr - Jun, 2024	6,031	322	1,001	958	56.7	5.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	7,784	601	648	2,441	144.3	7.7	Nov 8, 2024	J-GAAP
Oct - Dec, 2024	7,484	330	857	1,031	60.9	4.4	Feb 10, 2025	J-GAAP
YoY	+7.7%	+4.4%	+21.7%	+110.8%	+110.5%