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Milbon, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 26% Decrease

Fri Aug 8, 2025 3:30 pm JST Earnings

4919 Milbon Co., Ltd. 【J-GAAP】

Earnings Report

Milbon Co., Ltd. <4919> [TSE Prime] announced its financial results after the market closed on August 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending December 2025 (January to June) dropped 44.3% from the same period last year to 1.85 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 26.0%, from the previous forecast of 7.00 billion yen to 5.18 billion yen (compared to 6.96 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 25.7% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the July to December period (second half) is expected to decrease 8.7% from the same period last year to 3.32 billion yen.

In the most recent three-month period, from April to June (2Q), the consolidated ordinary profit dropped to 1.22 billion yen, a 36.5% decrease compared to the same period last year. The operating profit margin significantly dropped from 14.1% in the same period last year to 9.0%.

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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
Jan - Jun, 2023 22,703 3,090 3,129 2,195 67.5 56.0 Aug 10, 2023 J-GAAP
Jan - Jun, 2024 24,526 3,178 3,324 2,280 70.1 47.7 Aug 9, 2024 J-GAAP
Jan - Jun, 2025 24,807 1,938 1,853 419 12.9 35.8 Aug 8, 2025 J-GAAP
YoY +1.1% -39.0% -44.3% -81.6% -81.6%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan - Jun, 2025 Guidance ー ー ー ー － 40 Feb 14, 2025 J-GAAP
Jan - Jun, 2025 Results 24,807 1,938 1,853 419 12.9 40 Aug 8, 2025 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2025 Prev 54,250 7,000 7,000 5,200 163.6 88 Feb 14, 2025 J-GAAP
Dec, 2025 New 52,300 5,300 5,180 3,000 94.4 88 Aug 8, 2025 J-GAAP
Revision Rate -3.6% -24.3% -26.0% -42.3% -42.3%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 26,790 3,661 3,644 2,737 84.1 48 Feb 14, 2025 J-GAAP
Jul - Dec, 2025 Guidance 27,493 3,362 3,327 2,581 81.2 48 Aug 8, 2025 J-GAAP
YoY +2.6% -8.2% -8.7% -5.7% -3.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 47,762 5,525 5,586 4,001 123.0 88 Feb 14, 2024 J-GAAP
Dec, 2024 51,316 6,839 6,968 5,017 154.1 88 Feb 14, 2025 J-GAAP
Dec, 2025 Guidance 52,300 5,300 5,180 3,000 94.4 88 Aug 8, 2025 J-GAAP
YoY +1.9% -22.5% -25.7% -40.2% -38.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Apr - Jun, 2024 13,018 1,841 1,934 1,307 40.2 14.1 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 12,467 1,676 1,557 1,113 34.2 13.4 Nov 15, 2024 J-GAAP
Oct - Dec, 2024 14,323 1,985 2,087 1,624 49.9 13.9 Feb 14, 2025 J-GAAP
Jan - Mar, 2025 11,180 712 625 462 14.2 6.4 May 13, 2025 J-GAAP
Apr - Jun, 2025 13,627 1,226 1,228 -43 -1.3 9.0 Aug 8, 2025 J-GAAP
YoY +4.7% -33.4% -36.5% － －

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