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MatsukiyoCocokara & Co., First Half Ordinary Profit Revised Downward to an Unexpected 1%Decrease

Thu Nov 14, 2024 3:30 pm JST Earnings

3088 MatsukiyoCocokara & Co. 【J-GAAP】

Earnings Report

MatsukiyoCocokara & Co. <3088> [TSE-P] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 39.6 billion yen, a 1.1% decrease compared to the same period last year, resulting in a decrease in profits compared to the previous forecast of a 1.1% increase.

However, The progress rate against the 81.5 billion yen full-year plan was 48.6%, which was higher than the five-year average of 45.3%.

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 October to March period (second half) is expected to grow by 3.6% from the same period last year, reaching 41.8 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 21.2 billion yen, a 0.7% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 7.7% in the same period last year to 7.7%.

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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
Apr - Sep, 2022 465,075 28,322 30,635 18,504 43.7 45.9 Nov 14, 2022 J-GAAP
Apr - Sep, 2023 507,766 37,554 40,068 25,838 61.8 49.8 Nov 14, 2023 J-GAAP
Apr - Sep, 2024 525,729 37,662 39,618 24,958 60.4 48.6 Nov 14, 2024 J-GAAP
YoY +3.5% +0.3% -1.1% -3.4% -2.3%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance 515,000 38,000 40,500 26,000 64.4 21 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 525,729 37,662 39,618 24,958 60.4 21 Nov 14, 2024 J-GAAP
Revision Rate +2.1% -0.9% -2.2% -4.0% -6.3%

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 514,765 38,151 40,431 26,509 63.5 20 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 524,271 39,838 41,882 27,542 68.3 21 Nov 14, 2024 J-GAAP
YoY +1.8% +4.4% +3.6% +3.9% +7.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 951,247 62,276 66,721 40,545 96.0 28.33 May 12, 2023 J-GAAP
Mar, 2024 1,022,531 75,705 80,499 52,347 125.3 36.67 May 10, 2024 J-GAAP
Mar, 2025 Guidance 1,050,000 77,500 81,500 52,500 130.1 42 May 10, 2024 J-GAAP
YoY +2.7% +2.4% +1.2% +0.3% +3.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 259,544 20,104 21,423 13,841 33.1 7.7 Nov 14, 2023 J-GAAP
Oct - Dec, 2023 262,567 21,194 22,330 16,456 39.4 8.1 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 252,198 16,957 18,101 10,053 24.1 6.7 May 10, 2024 J-GAAP
Apr - Jun, 2024 259,749 17,279 18,345 11,673 28.0 6.7 Aug 13, 2024 J-GAAP
Jul - Sep, 2024 265,980 20,383 21,273 13,285 32.1 7.7 Nov 14, 2024 J-GAAP
YoY +2.5% +1.4% -0.7% -4.0% -2.9%

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