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Morinaga &, Apr-Dec (Cumulative 3Q) Ordinary Profit Decreases by 2%, Oct-Dec Ordinary Profit Decreases by 1%

Mon Feb 10, 2025 3:30 pm JST Earnings

2201 Morinaga & Co.,Ltd. 【J-GAAP】

Earnings Report

Morinaga & Co.,Ltd. <2201> [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 19.8 billion yen, a 1.6% decrease compared to the same period last year. The progress rate toward the full-year plan of 21.7 billion yen was 91.4%, almost the same as the five-year average of 92.4%.

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 surge 2.1 times that of the same period last year, reaching 1.85 billion yen.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit amounted to 5.74 billion yen, a 0.6% decrease compared to the same period last year. The operating profit margin decreased from 10.2% in the same period last year to 9.7%.

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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 147,869 13,750 13,995 8,857 91.4 88.8 Feb 10, 2023 J-GAAP
Apr - Dec, 2023 163,797 19,691 20,175 13,985 152.3 95.9 Feb 8, 2024 J-GAAP
Apr - Dec, 2024 176,584 19,427 19,844 13,601 153.0 91.4 Feb 10, 2025 J-GAAP
YoY +7.8% -1.3% -1.6% -2.7% +0.4%

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 103,760 6,106 6,642 4,894 53.5 55 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 108,155 7,445 7,601 6,069 70.7 60 Nov 12, 2024 J-GAAP
YoY +4.2% +21.9% +14.4% +24.0% +32.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 194,373 15,235 15,757 10,059 104.4 50 May 11, 2023 J-GAAP
Mar, 2024 213,368 20,273 21,039 15,154 165.6 55 May 10, 2024 J-GAAP
Mar, 2025 Guidance 227,000 21,300 21,700 16,700 194.6 60 Nov 12, 2024 J-GAAP
YoY +6.4% +5.1% +3.1% +10.2% +17.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 54,189 5,524 5,778 3,725 40.6 10.2 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 49,571 582 864 1,169 12.8 1.2 May 10, 2024 J-GAAP
Apr - Jun, 2024 56,928 6,741 6,938 4,880 54.2 11.8 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 61,917 7,114 7,161 5,751 64.0 11.5 Nov 12, 2024 J-GAAP
Oct - Dec, 2024 57,739 5,572 5,745 2,970 33.4 9.7 Feb 10, 2025 J-GAAP
YoY +6.6% +0.9% -0.6% -20.3% -17.7%

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