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Mortgage Service Japan Limited, First Half Ordinary Profit Decreases by 16%

Tue Nov 5, 2024 3:30 pm JST Earnings

7192 Mortgage Service Japan Limited 【J-GAAP】

Earnings Report

Mortgage Service Japan Limited <7192> [TSE-S] announced its financial results after the market closed on November 5th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 16.0% from the same period last year to 639 million yen. However, The progress rate against the 1.08 billion yen full-year plan was 59.1%, also surpassing the five-year average of 52.2%.

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 drop by 30.6% from the same period last year to 442 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 375 million yen, a 7.4% decrease compared to the same period last year. The operating profit margin decreased from 23.1% in the same period last year to 20.3%.

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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 3,648 830 830 606 41.2 56.4 Nov 7, 2022 J-GAAP
Apr - Sep, 2023 3,484 761 761 534 36.4 54.4 Nov 6, 2023 J-GAAP
Apr - Sep, 2024 3,592 639 639 441 30.0 59.1 Nov 5, 2024 J-GAAP
YoY +3.1% -16.0% -16.0% -17.4% -17.4%

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 3,611 491 491 316 21.5 － May 9, 2024 J-GAAP
Apr - Sep, 2024 Results 3,592 639 639 441 30.0 － Nov 5, 2024 J-GAAP
Revision Rate -0.5% +30.1% +30.1% +39.6% +39.8%

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 3,626 637 637 340 23.1 20 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 3,664 442 442 282 19.2 18 Nov 5, 2024 J-GAAP
YoY +1.0% -30.6% -30.6% -17.1% -17.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 7,325 1,471 1,471 1,002 68.2 20 May 8, 2023 J-GAAP
Mar, 2024 7,110 1,398 1,398 874 59.5 20 May 9, 2024 J-GAAP
Mar, 2025 Guidance 7,256 1,081 1,081 723 49.2 18 May 9, 2024 J-GAAP
YoY +2.1% -22.7% -22.7% -17.3% -17.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 1,754 405 405 282 19.2 23.1 Nov 6, 2023 J-GAAP
Oct - Dec, 2023 1,785 418 418 303 20.6 23.4 Feb 5, 2024 J-GAAP
Jan - Mar, 2024 1,841 219 219 37 2.5 11.9 May 9, 2024 J-GAAP
Apr - Jun, 2024 1,747 264 264 186 12.7 15.1 Aug 5, 2024 J-GAAP
Jul - Sep, 2024 1,845 375 375 255 17.4 20.3 Nov 5, 2024 J-GAAP
YoY +5.2% -7.4% -7.4% -9.6% -9.6%

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