MEIHO ENTERPRISE, First Half Ordinary Profit Decreases by 40%, Nov-Jan Ordinary Profit Decreases by 85%

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Mon Mar 17, 2025 3:30 pm JST Earnings

8927 MEIHO ENTERPRISE CO.,LTD. 【J-GAAP】

Earnings Report

MEIHO ENTERPRISE CO.,LTD. <8927> [TSE Std] announced its financial results after the market closed on March 17th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending July 2025 (August 2024 to January 2025) dropped 39.6% from the same period last year to 0.72 billion yen. The progress rate toward the full-year plan of 2 billion yen was 36.0%, almost the same as the five-year average of 36.3%.

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 February to July period (2H) is expected to expand 82.1% from the same period last year, reaching 1.28 billion yen.

In the most recent three-month period, from November to January (2Q), the consolidated ordinary profit significantly dropped to 0.12 billion yen, a 84.6% decrease compared to the same period last year. The operating profit margin sharply declined from 14.7% in the same period last year to 6.9%.

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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
Aug - Jan, 2022	3,385	89	-67	-46	-1.9	ー	Mar 17, 2023	J-GAAP
Aug - Jan, 2023	10,868	1,374	1,192	835	28.3	62.9	Mar 15, 2024	J-GAAP
Aug - Jan, 2024	11,752	1,051	720	460	15.6	36.0	Mar 17, 2025	J-GAAP
YoY	+8.1%	-23.5%	-39.6%	-44.9%	-44.9%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug - Jan, 2024 Guidance	12,200	920	610	430	14.6	5.50	Sep 12, 2024	J-GAAP
Aug - Jan, 2024 Results	11,752	1,051	720	460	15.6	5.50	Mar 17, 2025	J-GAAP
Revision Rate	-3.7%	+14.2%	+18.0%	+7.0%	+7.1%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb - Jul, 2024	9,694	967	703	540	18.3	6.50	Sep 12, 2024	J-GAAP
Feb - Jul, 2025 Guidance	17,248	1,549	1,280	940	31.9	5.50	Mar 17, 2025	J-GAAP
YoY	+77.9%	+60.2%	+82.1%	+74.1%	+74.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul, 2023	15,247	1,304	968	637	23.7	9	Sep 14, 2023	J-GAAP
Jul, 2024	20,562	2,341	1,895	1,375	46.6	11	Sep 12, 2024	J-GAAP
Jul, 2025 Guidance	29,000	2,600	2,000	1,400	47.5	11	Sep 12, 2024	J-GAAP
YoY	+41.0%	+11.1%	+5.5%	+1.8%	+1.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Nov - Jan, 2023	5,950	876	818	564	19.1	14.7	Mar 15, 2024	J-GAAP
Feb - Apr, 2024	6,008	945	839	595	20.2	15.7	Jun 14, 2024	J-GAAP
May - Jul, 2024	3,686	22	-136	-55	-1.9	0.6	Sep 12, 2024	J-GAAP
Aug - Oct, 2024	7,192	737	594	384	13.0	10.2	Dec 12, 2024	J-GAAP
Nov - Jan, 2024	4,560	314	126	76	2.6	6.9	Mar 17, 2025	J-GAAP
YoY	-23.4%	-64.2%	-84.6%	-86.5%	-86.5%