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MORINAGA MILK, 7% Increase in Ordinary Profit, Record High for The First Time in Four Years, Dividend Raised by 3 yen

Tue May 13, 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 May 13th (14:00). The consolidated ordinary profit for the fiscal year ending March 2025 increased 6.3% from the previous period to 29.8 billion yen. For the fiscal year ending March 2026, the consolidated ordinary profit is expected to grow by 6.8% to 31.9 billion yenExpected to reach record high profits for the first time in four years. This will be the fourth consecutive term of revenue and the third consecutive term of profit growth.

At the same time, the company has decided to increase the dividend this fiscal year to 93 yen, an increase of 3 yen from the previous fiscal year.

In the most recent three-month period, from January to March (4Q), the consolidated ordinary profit/loss turned to a profit of 3.82 billion yen (compared to a loss of 0.41 billion yen in the same period last year). The operating profit/loss margin significantly improved from -0.1% in the same period last year to 3.2%.

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Actual Results

Historical Performance
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 561,173 29,658 29,864 5,459 64.6 90 May 13, 2025 J-GAAP
YoY +2.6% +6.5% +6.3% -91.1% -90.7%

Full Year Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Guidance 560,000 29,500 29,200 5,000 59.2 90 Apr 15, 2025 J-GAAP
Mar, 2025 Results 561,173 29,658 29,864 5,459 64.6 90 May 13, 2025 J-GAAP
Revision Rate +0.2% +0.5% +2.3% +9.2% +9.2%

Current Period Guidance

H1 Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 290,599 17,499 17,247 9,709 113.6 45 Nov 8, 2024 J-GAAP
Apr - Sep, 2025 Guidance 303,000 18,000 18,100 13,300 162.3 45 May 13, 2025 J-GAAP
YoY +4.3% +2.9% +4.9% +37.0% +42.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 547,059 27,839 28,104 61,307 696.9 60 May 14, 2024 J-GAAP
Mar, 2025 561,173 29,658 29,864 5,459 64.6 90 May 13, 2025 J-GAAP
Mar, 2026 Guidance 580,000 32,000 31,900 19,000 233.9 93 May 13, 2025 J-GAAP
YoY +3.4% +7.9% +6.8% +248.0% +262.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
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
Jan - Mar, 2025 130,452 4,169 3,821 -9,281 -109.8 3.2 May 13, 2025 J-GAAP
YoY +5.4% － － -566.7% -594.2%

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