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MUGEN ESTATE Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 35%, Highest in Seven Terms, Dividend Revised Upward by 24 yen

Tue Nov 5, 2024 2:00 pm JST Revision

3299 MUGEN ESTATE Co.,Ltd. 【J-GAAP】

Guidance Update Report

MUGEN ESTATE Co.,Ltd. <3299> [TSE-S] announced a revision to its performance and dividend in the afternoon session on November 5th (14:00). The consolidated ordinary profit for the fiscal year ending December 2024 has been revised upward by 35.1%, from the previous forecast of 6.03 billion yen to 8.15 billion yen (compared to 5.24 billion yen in the previous period), increasing the growth rate from 15.1% to 55.5%, reaches new record high for the first time in seven terms.

Based on the upwardly revised full-year plan announced by the company, our calculation indicates that the July to December period (second half) consolidated ordinary profit is expected to increase by 2.5 times, from the previous forecast of 1.39 billion yen to 3.5 billion yen (compared to 2.32 billion yen in the same period of the previous year), turning to a 50.9% increase in the consolidated ordinary profit outlook.

In light of the strong performance, the company has significantly increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 68 yen to 92 yen (compared to 63 yen in the previous period).

Kabutan News

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 Prev 29,394 1,832 1,391 921 39.6 68 Aug 9, 2024 J-GAAP
Jul - Dec, 2024 New 29,722 3,916 3,509 2,308 99.2 92 Nov 5, 2024 J-GAAP
Revision Rate +1.1% +113.8% +152.3% +150.6% +150.6%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 60,896 6,861 6,036 3,985 171.3 68 Feb 14, 2024 J-GAAP
Dec, 2024 New 61,224 8,945 8,154 5,372 230.9 92 Nov 5, 2024 J-GAAP
Revision Rate +0.5% +30.4% +35.1% +34.8% +34.8%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 25,393 2,633 2,325 1,724 73.3 63 Feb 14, 2024 J-GAAP
Jul - Dec, 2024 Guidance 29,722 3,916 3,509 2,308 99.2 92 Nov 5, 2024 J-GAAP
YoY +17.0% +48.7% +50.9% +33.9% +35.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 31,242 2,976 2,309 1,564 66.6 20 Feb 14, 2023 J-GAAP
Dec, 2023 51,640 5,936 5,243 3,653 155.3 63 Feb 14, 2024 J-GAAP
Dec, 2024 Guidance 61,224 8,945 8,154 5,372 230.9 92 Nov 5, 2024 J-GAAP
YoY +18.6% +50.7% +55.5% +47.1% +48.7%

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