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MUSASHI SEIMITSU INDUSTRY CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 0.4％ Decrease

Thu Nov 7, 2024 4:50 pm JST Earnings

7220 MUSASHI SEIMITSU INDUSTRY CO.,LTD. 【J-GAAP】

Earnings Report

MUSASHI SEIMITSU INDUSTRY CO.,LTD. <7220> [TSE-P] announced its financial results after the market closed on November 7th (16:50). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 6.5% from the same period last year to 6.25 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 11.4%, from the previous forecast of 17.5 billion yen to 15.5 billion yen (compared to 15.5 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 0.4% decrease in profit.

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 grow by 4.2% from the same period last year, reaching 9.24 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 1.92 billion yen, a 53.1% decrease compared to the same period last year. The operating profit margin worsened from 5.1% in the same period last year to 4.6%.

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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 141,851 1,457 2,735 406 6.2 38.9 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 169,561 6,708 6,682 3,588 54.9 42.9 Nov 6, 2023 J-GAAP
Apr - Sep, 2024 173,402 7,840 6,251 2,972 45.4 40.3 Nov 7, 2024 J-GAAP
YoY +2.3% +16.9% -6.5% -17.2% -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 ー ー ー ー － 25 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 173,402 7,840 6,251 2,972 45.4 25 Nov 7, 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 340,000 20,500 17,500 11,000 167.9 50 May 13, 2024 J-GAAP
Mar, 2025 New 335,000 18,500 15,500 9,500 145.0 50 Nov 7, 2024 J-GAAP
Revision Rate -1.5% -9.8% -11.4% -13.6% -13.6%

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 180,356 11,666 8,878 4,333 66.3 25 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 161,598 10,660 9,249 6,528 99.6 25 Nov 7, 2024 J-GAAP
YoY -10.4% -8.6% +4.2% +50.7% +50.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 301,500 7,677 7,030 2,436 37.3 30 May 12, 2023 J-GAAP
Mar, 2024 349,917 18,374 15,560 7,921 121.2 40 May 13, 2024 J-GAAP
Mar, 2025 Guidance 335,000 18,500 15,500 9,500 145.0 50 Nov 7, 2024 J-GAAP
YoY -4.3% +0.7% -0.4% +19.9% +19.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 87,124 4,405 4,115 1,811 27.7 5.1 Nov 6, 2023 J-GAAP
Oct - Dec, 2023 87,848 4,818 4,081 2,791 42.7 5.5 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 92,508 6,848 4,797 1,542 23.6 7.4 May 13, 2024 J-GAAP
Apr - Jun, 2024 88,941 3,985 4,322 2,939 44.9 4.5 Aug 6, 2024 J-GAAP
Jul - Sep, 2024 84,461 3,855 1,929 33 0.5 4.6 Nov 7, 2024 J-GAAP
YoY -3.1% -12.5% -53.1% -98.2% -98.2%

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