Mitsui Mining and Smelting, The Current Fiscal Year Ordinary Profit Revised Upward by 25%, Highest in Three Terms

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Wed Feb 12, 2025 3:30 pm JST Earnings

5706 Mitsui Mining and Smelting Company, Limited 【J-GAAP】

Earnings Report

Mitsui Mining and Smelting Company, Limited <5706> [TSE Prime] announced its financial results after the market closed on February 12th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) surged 2.2 times that of the same period last year, reaching 59.1 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward 24.5%, from the previous forecast of 55 billion yen to 68.5 billion yen (compared to 44.5 billion yen in the previous period), increasing the growth rate from 23.6% to 53.9%, reaches new record high for the first time in three terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) is expected to increase 81.3%, from the previous forecast of 16.6 billion yen to 30.1 billion yen (compared to 27.6 billion yen in the same period of the previous year), turning to a 9.0% increase in the consolidated ordinary profit outlook.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit surged 2.1 times that of the same period last year, reaching 20.7 billion yen. The operating profit margin significantly improved from 6.2% in the same period last year to 9.8%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022	498,285	18,550	24,370	17,225	301.5	122.5	Feb 7, 2023	J-GAAP
Apr - Dec, 2023	476,522	14,801	26,951	15,179	265.6	60.5	Feb 7, 2024	J-GAAP
Apr - Dec, 2024	525,891	56,215	59,111	52,137	911.9	86.3	Feb 12, 2025	J-GAAP
YoY	+10.4%	+279.8%	+119.3%	+243.5%	+243.4%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	346,874	17,179	16,612	9,465	165.5	75	Nov 8, 2024	J-GAAP
Oct - Mar, 2024 New	361,874	27,179	30,112	19,965	349.2	75	Feb 12, 2025	J-GAAP
Revision Rate	+4.3%	+58.2%	+81.3%	+110.9%	+110.9%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	695,000	56,000	55,000	46,500	813.2	165	Nov 8, 2024	J-GAAP
Mar, 2025 New	710,000	66,000	68,500	57,000	996.8	165	Feb 12, 2025	J-GAAP
Revision Rate	+2.2%	+17.9%	+24.5%	+22.6%	+22.6%

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	334,577	27,035	27,627	17,847	312.3	70	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	361,874	27,179	30,112	19,965	349.2	75	Feb 12, 2025	J-GAAP
YoY	+8.2%	+0.5%	+9.0%	+11.9%	+11.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	651,965	12,528	19,886	8,511	149.0	140	May 10, 2023	J-GAAP
Mar, 2024	646,697	31,694	44,513	25,989	454.7	140	May 13, 2024	J-GAAP
Mar, 2025 Guidance	710,000	66,000	68,500	57,000	996.8	165	Feb 12, 2025	J-GAAP
YoY	+9.8%	+108.2%	+53.9%	+119.3%	+119.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	164,402	10,142	10,065	7,037	123.1	6.2	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	170,175	16,893	17,562	10,810	189.1	9.9	May 13, 2024	J-GAAP
Apr - Jun, 2024	169,869	23,481	26,192	22,103	386.7	13.8	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	178,257	15,340	12,196	14,932	261.2	8.6	Nov 8, 2024	J-GAAP
Oct - Dec, 2024	177,765	17,394	20,723	15,102	264.2	9.8	Feb 12, 2025	J-GAAP
YoY	+8.1%	+71.5%	+105.9%	+114.6%	+114.5%