MITSUI MATSUSHIMA, The Current Fiscal Year Ordinary Profit Revised Upward by 24%, Dividend Revised Upward by 30 yen

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Fri Feb 14, 2025 4:00 pm JST Earnings

1518 MITSUI MATSUSHIMA HOLDINGS CO., LTD. 【J-GAAP】

Earnings Report

MITSUI MATSUSHIMA HOLDINGS CO., LTD. <1518> [TSE Prime] announced its financial results after the market closed on February 14th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) significantly dropped 70.0% from the same period last year to 6.67 billion yen.

However, the full-year consolidated ordinary profit has been revised upward 23.7%, from the previous forecast of 5.9 billion yen to 7.3 billion yen (compared to 26 billion yen in the previous period), and the declining rate is expected to decrease from 77.3% to 71.9%.

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) has been revised upward 80.6%, from the previous forecast of 1.73 billion yen to 3.13 billion yen (compared to 8.67 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 80.0% to 63.8%.

In light of the strong performance, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 100 yen to 130 yen (compared to 100 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit dropped to 2.51 billion yen, a 48.8% decrease compared to the same period last year. The operating profit margin significantly dropped from 26.0% in the same period last year to 14.5%.

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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	56,086	24,488	25,835	18,037	277.6	71.9	Feb 10, 2023	J-GAAP
Apr - Dec, 2023	57,207	21,170	22,237	15,532	245.6	85.5	Feb 9, 2024	J-GAAP
Apr - Dec, 2024	45,328	6,190	6,676	5,145	88.6	91.5	Feb 14, 2025	J-GAAP
YoY	-20.8%	-70.8%	-70.0%	-66.9%	-63.9%

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	30,762	2,147	1,737	3,120	55.6	10	Nov 8, 2024	J-GAAP
Oct - Mar, 2024 New	30,762	2,947	3,137	5,020	89.5	16	Feb 14, 2025	J-GAAP
Revision Rate	0.0%	+37.3%	+80.6%	+60.9%	+60.9%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	60,000	6,000	5,900	6,000	107.0	20	Jul 5, 2024	J-GAAP
Mar, 2025 New	60,000	6,800	7,300	7,900	140.9	26	Feb 14, 2025	J-GAAP
Revision Rate	0.0%	+13.3%	+23.7%	+31.7%	+31.7%

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	37,844	8,577	8,675	3,213	51.4	12	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	30,762	2,947	3,137	5,020	89.5	16	Feb 14, 2025	J-GAAP
YoY	-18.7%	-65.6%	-63.8%	+56.2%	+74.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	80,015	35,789	35,933	22,977	353.6	64	May 15, 2023	J-GAAP
Mar, 2024	77,472	25,170	26,004	15,117	241.9	20	May 13, 2024	J-GAAP
Mar, 2025 Guidance	60,000	6,800	7,300	7,900	140.9	26	Feb 14, 2025	J-GAAP
YoY	-22.6%	-73.0%	-71.9%	-47.7%	-41.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	17,579	4,577	4,908	3,628	57.4	26.0	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	20,265	4,000	3,767	-415	-6.6	19.7	May 13, 2024	J-GAAP
Apr - Jun, 2024	13,536	1,460	1,752	1,370	23.1	10.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	15,702	2,393	2,411	1,510	25.7	15.2	Nov 8, 2024	J-GAAP
Oct - Dec, 2024	16,090	2,337	2,513	2,265	39.0	14.5	Feb 14, 2025	J-GAAP
YoY	-8.5%	-48.9%	-48.8%	-37.6%	-32.0%