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Meiji Machine Co.,Ltd., The Current Fiscal Year Net Income Revised Downward by 60%

Tue Nov 12, 2024 4:00 pm JST Earnings

6334 Meiji Machine Co.,Ltd. 【J-GAAP】

Earnings Report

Meiji Machine Co.,Ltd. <6334> [TSE-S] announced its financial results after the market closed on November 12th (16:00). The consolidated net loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to a loss of 295 million yen (compared to a loss of 115 million yen in the same period last year).

In addition, the full-year consolidated net income has downwardly by 59.7%, from the previous forecast of 268 million yen to 108 million yen (compared to 314 million yen in the previous period), leading to an increase in the profit decline rate from 14.6% to 65.6%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease by 6.1% from the same period last year to 403 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated net loss expanded to a loss of 176 million yen (compared to a loss of 29 million yen in the same period last year). However, the operating profit/loss margin significantly improved from -7.8% in the same period last year to -3.4%.

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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 3,128 77 114 1,569 137.8 49.4 Nov 14, 2022 J-GAAP
Apr - Sep, 2023 1,497 -164 -143 -115 -10.2 ー Nov 13, 2023 J-GAAP
Apr - Sep, 2024 2,341 -163 -134 -295 -26.5 ー Nov 12, 2024 J-GAAP
YoY +56.4% +0.6% +6.3% -156.5% -160.6%

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 ー ー ー ー － 0 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 2,341 -163 -134 -295 -26.5 0 Nov 12, 2024 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
Mar, 2025 Prev 6,000 280 280 268 25.2 4 May 13, 2024 J-GAAP
Mar, 2025 New 6,000 280 280 108 10.2 4 Nov 12, 2024 J-GAAP
Revision Rate 0.0% 0.0% 0.0% -59.7% -59.7%

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 3,399 411 408 429 38.1 4 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 3,659 443 414 403 37.9 4 Nov 12, 2024 J-GAAP
YoY +7.6% +7.8% +1.5% -6.1% -0.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 6,306 188 231 1,764 155.0 2 May 12, 2023 J-GAAP
Mar, 2024 4,896 247 265 314 27.9 4 May 13, 2024 J-GAAP
Mar, 2025 Guidance 6,000 280 280 108 10.2 4 Nov 12, 2024 J-GAAP
YoY +22.5% +13.4% +5.7% -65.6% -63.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 842 -66 -59 -29 -2.6 -7.8 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 1,588 216 214 211 18.8 13.6 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 1,811 195 194 218 19.4 10.8 May 13, 2024 J-GAAP
Apr - Jun, 2024 946 -116 -107 -119 -10.7 -12.3 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 1,395 -47 -27 -176 -15.8 -3.4 Nov 12, 2024 J-GAAP
YoY +65.7% +28.8% +54.2% -506.9% -516.4%

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