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MORINAGA MILK, Oct-Dec (3Q) Ordinary Profit Increases by 30%

Wed Feb 12, 2025 2:00 pm JST Earnings

2264 MORINAGA MILK INDUSTRY CO.,LTD 【J-GAAP】

Earnings Report

MORINAGA MILK INDUSTRY CO.,LTD <2264> [TSE Prime] announced its financial results in the afternoon session on February 12th (14:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 8.7% from the same period last year to 26 billion yen. However, the progress rate toward the full-year plan of 28.2 billion yen was 92.4%, almost the same as the five-year average of 90.7%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the January to March period (4Q) is expected to turn into a profit of 2.15 billion yen (compared to a loss of 0.41 billion yen in the same period last year).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit increased 30.5% from the same period last year, reaching 8.79 billion yen. The operating profit margin improved from 5.2% in the same period last year to 5.7%.

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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 405,224 20,460 21,529 12,128 134.1 85.4 Feb 10, 2023 J-GAAP
Apr - Dec, 2023 423,256 27,993 28,517 62,699 709.6 101.5 Feb 9, 2024 J-GAAP
Apr - Dec, 2024 430,721 25,489 26,043 14,740 173.7 92.4 Feb 12, 2025 J-GAAP
YoY +1.8% -8.9% -8.7% -76.5% -75.5%

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 260,469 7,014 6,328 2,186 24.9 60 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 269,401 11,001 10,953 8,291 99.3 45 Nov 8, 2024 J-GAAP
YoY +3.4% +56.8% +73.1% +279.3% +299.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 525,603 23,939 25,218 16,875 186.6 45 May 15, 2023 J-GAAP
Mar, 2024 547,059 27,839 28,104 61,307 696.9 60 May 14, 2024 J-GAAP
Mar, 2025 Guidance 560,000 28,500 28,200 18,000 215.5 90 Nov 8, 2024 J-GAAP
YoY +2.4% +2.4% +0.3% -70.6% -69.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 136,666 7,168 6,741 3,578 40.5 5.2 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 123,803 -154 -413 -1,392 -15.8 -0.1 May 14, 2024 J-GAAP
Apr - Jun, 2024 140,637 8,472 9,554 5,313 61.5 6.0 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 149,962 9,027 7,693 4,396 51.4 6.0 Nov 8, 2024 J-GAAP
Oct - Dec, 2024 140,122 7,990 8,796 5,031 59.3 5.7 Feb 12, 2025 J-GAAP
YoY +2.5% +11.5% +30.5% +40.6% +46.5%

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