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Mitsui High-tec, February-October (Third Quarter Cumulative) Ordinary Profit Decreases by 23%

Thu Dec 12, 2024 3:30 pm JST Earnings

6966 Mitsui High-tec, Inc. 【J-GAAP】

Earnings Report

Mitsui High-tec, Inc. <6966> [TSE Prime] announced its financial results after the market closed on December 12th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending January 2025 (February to October) decreased 22.5% from the same period last year to 12.9 billion yen. However, The progress rate toward the full-year plan of 13.5 billion yen was 96.1%, also surpassing the five-year average of 71.6%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the November to January period (4Q) is expected to significant drop 89.5% from the same period last year to 524 million yen.

In the most recent three-month period, from August to October (3Q), the consolidated ordinary profit dropped to 3.54 billion yen, a 41.0% decrease compared to the same period last year. The operating profit margin worsened from 9.2% in the same period last year to 6.7%.

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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
Feb - Oct, 2022 130,922 18,497 21,200 16,955 92.8 93.5 Dec 9, 2022 J-GAAP
Feb - Oct, 2023 144,078 13,076 16,749 11,765 64.4 77.1 Dec 13, 2023 J-GAAP
Feb - Oct, 2024 158,208 11,465 12,976 9,346 51.2 96.1 Dec 12, 2024 J-GAAP
YoY +9.8% -12.3% -22.5% -20.6% -20.5%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug - Jan, 2023 102,267 9,691 10,994 7,838 42.9 9.60 Mar 12, 2024 J-GAAP
Aug - Jan, 2024 Guidance 110,031 5,150 4,069 2,425 13.3 12 Sep 10, 2024 J-GAAP
YoY +7.6% -46.9% -63.0% -69.1% -69.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan, 2023 174,615 22,586 22,669 17,581 96.2 13 Mar 14, 2023 J-GAAP
Jan, 2024 195,881 18,119 21,733 15,545 85.1 14.40 Mar 12, 2024 J-GAAP
Jan, 2025 Guidance 214,000 13,000 13,500 9,500 52.0 17.60 Sep 10, 2024 J-GAAP
YoY +9.3% -28.3% -37.9% -38.9% -38.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Aug - Oct, 2023 50,464 4,648 6,010 4,058 22.2 9.2 Dec 13, 2023 J-GAAP
Nov - Jan, 2023 51,803 5,043 4,984 3,780 20.7 9.7 Mar 12, 2024 J-GAAP
Feb - Apr, 2024 50,431 3,971 6,462 4,777 26.1 7.9 Jun 14, 2024 J-GAAP
May - Jul, 2024 53,538 3,879 2,969 2,298 12.6 7.2 Sep 10, 2024 J-GAAP
Aug - Oct, 2024 54,239 3,615 3,545 2,271 12.4 6.7 Dec 12, 2024 J-GAAP
YoY +7.5% -22.2% -41.0% -44.0% -44.0%

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