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MITACHI , First Half Ordinary Profit Decreases by 2%

Thu Dec 26, 2024 3:30 pm JST Earnings

3321 MITACHI CO.,LTD. 【J-GAAP】

Earnings Report

MITACHI CO.,LTD. <3321> [TSE Std] announced its financial results after the market closed on December 26th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending May 2025 (June to November) was 1 billion yen, a 2.0% decrease compared to the same period last year. The progress rate toward the full-year plan of 2.1 billion yen was 47.8%, also falling below the five-year average of 55.2%.

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 December to May period (2H) is expected to expand 60.7% from the same period last year, reaching 1.09 billion yen.

In the most recent three-month period, from September to November (2Q), the consolidated ordinary profit grew 15.8% from the same period last year, reaching 683 million yen. However, the operating profit margin worsened from 5.2% in the same period last year to 2.3%.

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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
Jun - Nov, 2022 23,610 1,653 1,677 1,160 146.0 68.4 Dec 27, 2022 J-GAAP
Jun - Nov, 2023 20,048 935 1,024 705 88.6 60.0 Dec 27, 2023 J-GAAP
Jun - Nov, 2024 39,908 947 1,004 718 90.2 47.8 Dec 26, 2024 J-GAAP
YoY +99.1% +1.3% -2.0% +1.8% +1.8%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jun - Nov, 2024 Guidance 40,000 900 1,000 600 75.3 25 Nov 22, 2024 J-GAAP
Jun - Nov, 2024 Results 39,908 947 1,004 718 90.2 25 Dec 26, 2024 J-GAAP
Revision Rate -0.2% +5.2% +0.4% +19.7% +19.8%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec - May, 2023 18,851 656 682 517 65.0 25 Jul 5, 2024 J-GAAP
Dec - May, 2024 Guidance 50,092 953 1,096 632 79.3 25 Dec 26, 2024 J-GAAP
YoY +165.7% +45.3% +60.7% +22.2% +22.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
May, 2023 43,271 2,490 2,452 1,693 212.9 65 Jul 7, 2023 J-GAAP
May, 2024 38,899 1,591 1,706 1,222 153.5 45 Jul 5, 2024 J-GAAP
May, 2025 Guidance 90,000 1,900 2,100 1,350 169.4 50 Nov 22, 2024 J-GAAP
YoY +131.4% +19.4% +23.1% +10.5% +10.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Sep - Nov, 2023 10,394 542 590 402 50.5 5.2 Dec 27, 2023 J-GAAP
Dec - Feb, 2023 9,667 356 322 224 28.2 3.7 Mar 29, 2024 J-GAAP
Mar - May, 2024 9,184 300 360 293 36.8 3.3 Jul 5, 2024 J-GAAP
Jun - Aug, 2024 9,272 252 321 227 28.6 2.7 Oct 4, 2024 J-GAAP
Sep - Nov, 2024 30,636 695 683 491 61.7 2.3 Dec 26, 2024 J-GAAP
YoY +194.7% +28.2% +15.8% +22.1% +22.1%

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