Mitsui DM Sugar, The Current Fiscal Year Ordinary Profit Revised Upward by 18%

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Fri Jan 31, 2025 3:00 pm JST Earnings

2109 Mitsui DM Sugar Co.,Ltd. 【J-GAAP】

Earnings Report

Mitsui DM Sugar Holdings Co., Ltd. <2109> [TSE Prime] announced its financial results in the afternoon session on January 31st (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 12.1 billion yen, an increase 64.7% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward 18.2%, from the previous forecast of 11 billion yen to 13 billion yen (compared to 9.77 billion yen in the previous period), increasing the growth rate from 12.5% to 33.0%.

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) is expected to increase 49.6%, from the previous forecast of 4.03 billion yen to 6.03 billion yen (compared to 3.59 billion yen in the same period of the previous year), increasing the growth rate from 12.3% to 67.9%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit surged 4.4 times that of the same period last year, reaching 5.16 billion yen. The operating profit margin drastically improved from 2.6% in the same period last year to 10.4%.

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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	123,763	1,243	916	-269	-8.4	4.8	Feb 9, 2023	J-GAAP
Apr - Dec, 2023	129,398	2,430	7,369	6,502	201.5	75.4	Jan 31, 2024	J-GAAP
Apr - Dec, 2024	136,986	11,567	12,138	8,858	274.5	93.4	Jan 31, 2025	J-GAAP
YoY	+5.9%	+376.0%	+64.7%	+36.2%	+36.2%

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	91,929	4,504	4,031	1,526	47.3	65	Oct 31, 2024	J-GAAP
Oct - Mar, 2024 New	91,929	6,504	6,031	3,526	109.2	65	Jan 31, 2025	J-GAAP
Revision Rate	0.0%	+44.4%	+49.6%	+131.1%	+131.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	180,000	11,000	11,000	7,000	216.9	130	Oct 31, 2024	J-GAAP
Mar, 2025 New	180,000	13,000	13,000	9,000	278.8	130	Jan 31, 2025	J-GAAP
Revision Rate	0.0%	+18.2%	+18.2%	+28.6%	+28.6%

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	86,557	3,006	3,591	2,379	73.7	70	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	91,929	6,504	6,031	3,526	109.2	65	Jan 31, 2025	J-GAAP
YoY	+6.2%	+116.4%	+67.9%	+48.2%	+48.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	163,310	1,100	19,058	7,911	245.2	120	May 15, 2023	J-GAAP
Mar, 2024	170,774	4,251	9,778	8,445	261.7	130	May 15, 2024	J-GAAP
Mar, 2025 Guidance	180,000	13,000	13,000	9,000	278.8	130	Jan 31, 2025	J-GAAP
YoY	+5.4%	+205.8%	+33.0%	+6.6%	+6.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	45,181	1,185	1,182	436	13.5	2.6	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	41,376	1,821	2,409	1,943	60.2	4.4	May 15, 2024	J-GAAP
Apr - Jun, 2024	44,871	3,277	3,957	2,889	89.5	7.3	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	43,200	3,219	3,012	2,585	80.1	7.5	Oct 31, 2024	J-GAAP
Oct - Dec, 2024	48,915	5,071	5,169	3,384	104.9	10.4	Jan 31, 2025	J-GAAP
YoY	+8.3%	+327.9%	+337.3%	+676.1%	+676.2%