MEIDENSHA CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward by 7%, Adds to Record High Profit Forecast

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Mon Oct 28, 2024 3:30 pm JST Earnings

6508 MEIDENSHA CORPORATION 【J-GAAP】

Earnings Report

MEIDENSHA CORPORATION <6508> [TSE-P] announced its financial results after the market closed on October 28th (15:30). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a profit of 1.74 billion yen (compared to a loss of 1.62 billion yen in the same period last year), reversing from the forecast of a loss of 1.5 billion yen to a profit.

In addition, the full-year consolidated ordinary profit has been revised upward by 6.9%, from the previous forecast of 14.5 billion yen to 15.5 billion yen (compared to 13.3 billion yen in the previous period), increasing the growth rate from 8.3% to 15.8%, further surpassing the previous forecast of record-high profits for two consecutive terms.

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 October to March period (second half) is expected to decrease by 8.3% from the same period last year to 13.7 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 49.1% from the same period last year, reaching 1.53 billion yen. The operating profit margin improved from 1.5% in the same period last year to 4.3%.

Kabutan News

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	111,742	-4,892	-3,957	-2,746	-60.5	ー	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	119,047	-2,366	-1,622	-1,616	-35.6	ー	Oct 30, 2023	J-GAAP
Apr - Sep, 2024	120,099	1,909	1,743	2,094	46.2	11.2	Oct 28, 2024	J-GAAP
YoY	+0.9%	－	－	－	－

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	123,000	-1,500	-1,500	-1,000	-22.0	35	Aug 29, 2024	J-GAAP
Apr - Sep, 2024 Results	120,099	1,909	1,743	2,094	46.2	35	Oct 28, 2024	J-GAAP
Revision Rate	-2.4%	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	310,000	15,000	14,500	10,500	231.5	－	May 10, 2024	J-GAAP
Mar, 2025 New	300,000	16,000	15,500	11,500	253.5	－	Oct 28, 2024	J-GAAP
Revision Rate	-3.2%	+6.7%	+6.9%	+9.5%	+9.5%

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	168,833	15,097	15,007	12,821	282.6	50	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	179,901	14,091	13,757	9,406	207.3	－	Oct 28, 2024	J-GAAP
YoY	+6.6%	-6.7%	-8.3%	-26.6%	-26.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	272,578	8,539	8,823	7,128	157.1	50	May 12, 2023	J-GAAP
Mar, 2024	287,880	12,731	13,385	11,205	247.0	75	May 10, 2024	J-GAAP
Mar, 2025 Guidance	300,000	16,000	15,500	11,500	253.5	－	Oct 28, 2024	J-GAAP
YoY	+4.2%	+25.7%	+15.8%	+2.6%	+2.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	65,515	1,008	1,026	486	10.7	1.5	Oct 30, 2023	J-GAAP
Oct - Dec, 2023	64,871	2,287	2,046	3,257	71.8	3.5	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	103,962	12,810	12,961	9,564	210.8	12.3	May 10, 2024	J-GAAP
Apr - Jun, 2024	54,975	-896	213	1,017	22.4	-1.6	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	65,124	2,805	1,530	1,077	23.8	4.3	Oct 28, 2024	J-GAAP
YoY	-0.6%	+178.3%	+49.1%	+121.6%	+121.8%