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MITSUBOSHI CO., LTD., July-September (2Q) Ordinary Profit Decreases by 46%

Thu Oct 31, 2024 4:00 pm JST Earnings

5820 MITSUBOSHI CO., LTD. 【J-GAAP】

Earnings Report

MITSUBOSHI CO., LTD. <5820> [TSE-S] announced its financial results after the market closed on October 31st (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 51 million yen, an increase of 45.7% compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 8.6% decrease.

However, The progress rate against the 145 million yen full-year plan was 35.2%, also falling below the five-year average of 51.1%.

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 23.7% from the same period last year, reaching 94 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 28 million yen, a 46.2% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 0.7% in the same period last year to 0.6%.

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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 4,877 95 142 -107 -31.2 69.6 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 4,877 0 35 94 27.5 31.5 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 5,361 31 51 40 11.9 35.2 Oct 31, 2024 J-GAAP
YoY +9.9% － +45.7% -57.4% -56.6%

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 5,300 41 32 29 8.4 0 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 5,361 31 51 40 11.9 0 Oct 31, 2024 J-GAAP
Revision Rate +1.2% -24.4% +59.4% +37.9% +41.3%

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 5,452 60 76 29 8.5 17 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 5,639 109 94 65 18.9 17 Oct 31, 2024 J-GAAP
YoY +3.4% +81.7% +23.7% +124.1% +122.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 9,946 155 204 -68 -19.9 16.67 May 12, 2023 J-GAAP
Mar, 2024 10,329 60 111 123 35.9 17 May 14, 2024 J-GAAP
Mar, 2025 Guidance 11,000 140 145 105 30.5 17 May 14, 2024 J-GAAP
YoY +6.5% +133.3% +30.6% -14.6% -15.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,468 17 52 42 12.3 0.7 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 2,769 35 47 27 7.9 1.3 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 2,683 25 29 2 0.6 0.9 May 14, 2024 J-GAAP
Apr - Jun, 2024 2,682 15 23 13 4.0 0.6 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 2,679 16 28 27 8.0 0.6 Oct 31, 2024 J-GAAP
YoY +8.5% -5.9% -46.2% -35.7% -34.5%

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