Meiho Holdings, First Half Ordinary Profit Turns to Profit

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Fri Feb 14, 2025 1:00 pm JST Earnings

7369 Meiho Holdings,Inc. 【J-GAAP】

Earnings Report

Meiho Holdings,Inc. <7369> [TSE Growth] announced its financial results in the afternoon session on February 14th (13:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending June 2025 (July to December) turned into a profit of 82 million yen (compared to a loss of 96 million yen in the same period last year). However, the progress rate toward the full-year plan of 600 million yen was 13.7%, also falling below the five-year average of 38.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the January to June period (2H) is expected to surge 2.8 times that of the same period last year, reaching 518 million yen.

In the most recent three-month period, from October to December (2Q), the consolidated ordinary profit/loss turned to a profit of 138 million yen (compared to a loss of 60 million yen in the same period last year). The operating profit margin improved from 1.3% in the same period last year to 4.1%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jul - Dec, 2022	3,386	166	169	81	17.3	34.1	Feb 14, 2023	J-GAAP
Jul - Dec, 2023	4,383	-14	-96	-174	-37.2	ー	Feb 13, 2024	J-GAAP
Jul - Dec, 2024	6,208	100	82	-16	-3.5	13.7	Feb 14, 2025	J-GAAP
YoY	+41.6%	－	－	+90.8%	+90.7%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Guidance	7,100	280	250	90	19.2	0	Aug 13, 2024	J-GAAP
Jul - Dec, 2024 Results	6,208	100	82	-16	-3.5	0	Feb 14, 2025	J-GAAP
Revision Rate	-12.6%	-64.3%	-67.2%	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan - Jun, 2024	5,965	161	185	86	18.3	0	Aug 13, 2024	J-GAAP
Jan - Jun, 2025 Guidance	7,792	550	518	296	63.0	0	Feb 14, 2025	J-GAAP
YoY	+30.6%	+241.6%	+180.0%	+244.2%	+244.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun, 2023	7,371	462	496	270	57.6	0	Aug 10, 2023	J-GAAP
Jun, 2024	10,348	147	89	-88	-18.7	0	Aug 13, 2024	J-GAAP
Jun, 2025 Guidance	14,000	650	600	280	59.6	0	Aug 13, 2024	J-GAAP
YoY	+35.3%	+342.2%	+574.2%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	2,540	34	-60	-133	-28.4	1.3	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	3,361	455	466	262	55.9	13.5	May 14, 2024	J-GAAP
Apr - Jun, 2024	2,604	-294	-281	-176	-37.5	-11.3	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	2,872	-36	-56	-75	-15.9	-1.3	Nov 14, 2024	J-GAAP
Oct - Dec, 2024	3,336	136	138	59	12.8	4.1	Feb 14, 2025	J-GAAP
YoY	+31.3%	+300.0%	－	－	－