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Meiji Shipping, The Current Fiscal Year Ordinary Profit Revised Upward by 6%, Exceeded Record Profit Forecast, The Undetermined Dividend Set at 5 yen

Fri Feb 28, 2025 1:00 pm JST Revision

9115 Meiji Shipping Group Co., Ltd. 【J-GAAP】

Guidance Update Report

Meiji Shipping Group Co., Ltd. <9115> [TSE Std] announced a revision to its performance and dividend in the afternoon session on February 28th (13:00). The consolidated ordinary profit for the fiscal year ending March 2025 has been revised upward 6.3%, from the previous forecast of 8 billion yen to 8.5 billion yen (compared to 5.83 billion yen in the previous period), increasing the growth rate from 37.1% to 45.6%. The company has further increased its previous forecast of record profits for the first time in eleven years. However, the full-year consolidated net income has decreased 18.4%, from the previous forecast of 3.8 billion yen to 3.1 billion yen (compared to 5.18 billion yen in the previous period), leading to an increase in the profit decline rate from 26.8% to 40.3%.

Based on the upwardly revised full-year plan announced by the company, our calculation indicates that the October to March period (2H) consolidated ordinary profit is expected to increase 8.4%, from the previous forecast of 5.92 billion yen to 6.42 billion yen (compared to 3.43 billion yen in the same period of the previous year), increasing the growth rate from 72.7% to 87.3%.

In light of the strong performance, the company has decided to implement a year-end lump-sum dividend of 5 yen for the current fiscal year, which was previously undecided (compared to 5 yen in the prior term).

Kabutan News

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 28,501 4,235 5,923 3,025 89.2 － Oct 31, 2024 J-GAAP
Oct - Mar, 2024 New 34,701 5,535 6,423 2,325 68.5 5 Feb 28, 2025 J-GAAP
Revision Rate +21.8% +30.7% +8.4% -23.1% -23.1%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 61,400 9,700 8,000 3,800 112.0 － May 15, 2024 J-GAAP
Mar, 2025 New 67,600 11,000 8,500 3,100 91.4 5 Feb 28, 2025 J-GAAP
Revision Rate +10.1% +13.4% +6.3% -18.4% -18.4%

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 32,705 5,356 3,430 3,301 97.7 5 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 34,701 5,535 6,423 2,325 68.5 5 Feb 28, 2025 J-GAAP
YoY +6.1% +3.3% +87.3% -29.6% -29.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 58,061 8,764 6,443 6,439 190.2 5 May 12, 2023 J-GAAP
Mar, 2024 65,018 11,398 5,836 5,189 153.5 5 May 15, 2024 J-GAAP
Mar, 2025 Guidance 67,600 11,000 8,500 3,100 91.4 5 Feb 28, 2025 J-GAAP
YoY +4.0% -3.5% +45.6% -40.3% -40.5%

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