Maruha Nichiro, Oct-Dec (3Q) Ordinary Profit Increases by 65%, Current Fiscal Year Dividend Revised Upward by 10 yen

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Mon Feb 10, 2025 3:30 pm JST Earnings

1333 Maruha Nichiro Corporation 【J-GAAP】

Earnings Report

Maruha Nichiro Corporation <1333> [TSE Prime] announced its financial results after the market closed on February 10th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) was 31 billion yen, a 2.6% increase compared to the same period last year. The progress rate toward the full-year plan of 32 billion yen was 97.0%, almost the same as the five-year average of 95.4%.

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 11.2% from the same period last year, reaching 0.97 billion yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 100 yen to 110 yen (compared to 85 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit increased 64.6% from the same period last year, reaching 15.3 billion yen. The operating profit margin improved from 3.1% in the same period last year to 4.0%.

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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	781,020	26,947	30,847	18,503	360.4	92.1	Feb 6, 2023	J-GAAP
Apr - Dec, 2023	787,346	25,358	30,228	22,434	444.8	97.2	Feb 5, 2024	J-GAAP
Apr - Dec, 2024	828,101	27,834	31,024	23,238	461.4	97.0	Feb 10, 2025	J-GAAP
YoY	+5.2%	+9.8%	+2.6%	+3.6%	+3.7%

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	517,866	13,930	16,311	8,190	162.6	50	Nov 11, 2024	J-GAAP
Oct - Mar, 2024 New	517,866	13,930	16,311	8,190	162.6	60	Feb 10, 2025	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	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	1,050,000	30,000	32,000	22,000	436.8	100	Aug 5, 2024	J-GAAP
Mar, 2025 New	1,050,000	30,000	32,000	22,000	436.8	110	Feb 10, 2025	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	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	523,318	9,777	10,192	9,959	197.5	50	May 7, 2024	J-GAAP
Oct - Mar, 2024 Guidance	517,866	13,930	16,311	8,190	162.6	60	Feb 10, 2025	J-GAAP
YoY	-1.0%	+42.5%	+60.0%	-17.8%	-17.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,020,456	29,575	33,500	18,596	363.7	65	May 8, 2023	J-GAAP
Mar, 2024	1,030,674	26,534	31,106	20,853	413.6	85	May 7, 2024	J-GAAP
Mar, 2025 Guidance	1,050,000	30,000	32,000	22,000	436.8	110	Feb 10, 2025	J-GAAP
YoY	+1.9%	+13.1%	+2.9%	+5.5%	+5.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	279,990	8,601	9,314	11,540	228.8	3.1	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	243,328	1,176	878	-1,581	-31.4	0.5	May 7, 2024	J-GAAP
Apr - Jun, 2024	256,928	7,657	9,868	6,540	129.9	3.0	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	275,206	8,413	5,821	7,270	144.4	3.1	Nov 11, 2024	J-GAAP
Oct - Dec, 2024	295,967	11,764	15,335	9,428	187.2	4.0	Feb 10, 2025	J-GAAP
YoY	+5.7%	+36.8%	+64.6%	-18.3%	-18.2%