MIMAKI ENGINEERING, The Current Fiscal Year Ordinary Profit Revised Upward by 5%, Raises Record High Profit Forecast

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Thu Feb 13, 2025 11:30 am JST Earnings

6638 MIMAKI ENGINEERING CO.,LTD. 【J-GAAP】

Earnings Report

MIMAKI ENGINEERING CO.,LTD. <6638> [TSE Prime] announced its financial results at noon (11:30) on February 13th. The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) surged 2.0 times that of the same period last year, reaching 6.85 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward 5.3%, from the previous forecast of 7.5 billion yen to 7.9 billion yen (compared to 4.88 billion yen in the previous period), increasing the growth rate from 53.6% to 61.8%, further surpassing the previous forecast of record-high profits for three consecutive 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 12.6%, from the previous forecast of 3.17 billion yen to 3.57 billion yen (compared to 2.86 billion yen in the same period of the previous year), increasing the growth rate from 10.8% to 24.8%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit increased 80.5% from the same period last year, reaching 2.53 billion yen. The operating profit margin drastically improved from 8.3% in the same period last year to 13.3%.

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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	52,346	3,126	2,779	1,957	68.0	73.3	Mar 13, 2023	J-GAAP
Apr - Dec, 2023	54,826	3,946	3,417	2,437	84.7	70.0	Feb 14, 2024	J-GAAP
Apr - Dec, 2024	61,374	7,423	6,854	4,944	171.5	86.8	Feb 13, 2025	J-GAAP
YoY	+11.9%	+88.1%	+100.6%	+102.9%	+102.4%

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	41,558	3,552	3,179	2,350	81.4	15	Nov 11, 2024	J-GAAP
Oct - Mar, 2024 New	43,058	3,902	3,579	2,400	83.1	15	Feb 13, 2025	J-GAAP
Revision Rate	+3.6%	+9.9%	+12.6%	+2.1%	+2.1%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	82,500	8,250	7,500	5,600	193.9	32.50	Nov 5, 2024	J-GAAP
Mar, 2025 New	84,000	8,600	7,900	5,650	195.7	32.50	Feb 13, 2025	J-GAAP
Revision Rate	+1.8%	+4.2%	+5.3%	+0.9%	+0.9%

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	40,194	3,149	2,868	2,295	79.7	15	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	43,058	3,902	3,579	2,400	83.1	15	Feb 13, 2025	J-GAAP
YoY	+7.1%	+23.9%	+24.8%	+4.6%	+4.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	70,607	4,241	3,789	2,807	97.6	17.50	May 15, 2023	J-GAAP
Mar, 2024	75,631	5,480	4,882	3,707	128.8	25	May 13, 2024	J-GAAP
Mar, 2025 Guidance	84,000	8,600	7,900	5,650	195.7	32.50	Feb 13, 2025	J-GAAP
YoY	+11.1%	+56.9%	+61.8%	+52.4%	+51.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	19,389	1,615	1,403	1,025	35.6	8.3	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	20,805	1,534	1,465	1,270	44.1	7.4	May 13, 2024	J-GAAP
Apr - Jun, 2024	19,804	2,052	1,952	1,482	51.4	10.4	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	21,138	2,646	2,369	1,768	61.4	12.5	Nov 11, 2024	J-GAAP
Oct - Dec, 2024	20,432	2,725	2,533	1,694	58.8	13.3	Feb 13, 2025	J-GAAP
YoY	+5.4%	+68.7%	+80.5%	+65.3%	+64.9%