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

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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%