MUTOH HOLDINGS, The Current Fiscal Year Net Income Revised Upward by 13%, Dividend Revised Upward by 10 yen

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Thu Feb 13, 2025 4:00 pm JST Earnings

7999 MUTOH HOLDINGS CO., LTD. 【J-GAAP】

Earnings Report

MUTOH HOLDINGS CO., LTD. <7999> [TSE Std] announced its financial results after the market closed on February 13th (16:00). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) surged 2.5 times that of the same period last year, reaching 1.31 billion yen.

In addition, the full-year consolidated net income has been revised upward 13.0%, from the previous forecast of 1.15 billion yen to 1.3 billion yen (compared to 0.76 billion yen in the previous period), increasing the growth rate from 50.5% to 70.2%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the October to March period (2H) has been revised upward 2.4 times, from the previous forecast of 0.1 billion yen to 0.25 billion yen (compared to 0.5 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 78.7% to 48.8%.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 110 yen to 120 yen (compared to 65 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated net income grew 5.4% from the same period last year, reaching 0.27 billion yen. However, the operating profit margin remained almost flat, changing from 8.1% in the same period last year to 8.0%.

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	12,532	688	689	468	102.6	70.4	Feb 14, 2023	J-GAAP
Apr - Dec, 2023	12,902	866	776	521	114.1	66.2	Feb 14, 2024	J-GAAP
Apr - Dec, 2024	13,618	1,075	1,069	1,316	287.9	82.2	Feb 13, 2025	J-GAAP
YoY	+5.5%	+24.1%	+37.8%	+152.6%	+152.3%

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	9,088	603	602	107	23.4	74	Nov 13, 2024	J-GAAP
Oct - Mar, 2024 New	9,588	603	602	257	56.2	84	Feb 13, 2025	J-GAAP
Revision Rate	+5.5%	0.0%	0.0%	+140.2%	+140.2%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	18,000	1,300	1,300	1,150	251.3	110	May 14, 2024	J-GAAP
Mar, 2025 New	18,500	1,300	1,300	1,300	284.1	120	Feb 13, 2025	J-GAAP
Revision Rate	+2.8%	0.0%	0.0%	+13.0%	+13.0%

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	9,005	735	726	502	109.9	40	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	9,588	603	602	257	56.2	84	Feb 13, 2025	J-GAAP
YoY	+6.5%	-18.0%	-17.1%	-48.8%	-48.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	16,794	967	979	878	192.5	45	May 12, 2023	J-GAAP
Mar, 2024	17,507	1,246	1,172	764	167.2	65	May 14, 2024	J-GAAP
Mar, 2025 Guidance	18,500	1,300	1,300	1,300	284.1	120	Feb 13, 2025	J-GAAP
YoY	+5.7%	+4.3%	+10.9%	+70.2%	+69.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	4,400	355	330	259	56.7	8.1	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	4,605	380	396	243	53.2	8.3	May 14, 2024	J-GAAP
Apr - Jun, 2024	4,472	374	339	870	190.4	8.4	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	4,440	323	359	173	37.9	7.3	Nov 13, 2024	J-GAAP
Oct - Dec, 2024	4,706	378	371	273	59.7	8.0	Feb 13, 2025	J-GAAP
YoY	+7.0%	+6.5%	+12.4%	+5.4%	+5.3%