MIKUNI, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 37% Decrease

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Mon Feb 10, 2025 4:00 pm JST Earnings

7247 MIKUNI CORPORATION 【J-GAAP】

Earnings Report

MIKUNI CORPORATION <7247> [TSE Std] announced its financial results after the market closed on February 10th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 7.4% from the same period last year to 1.7 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 42.9%, from the previous forecast of 3.5 billion yen to 2 billion yen (compared to 3.16 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 36.7% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has decreased 67.8%, from the previous forecast of 2.21 billion yen to 0.71 billion yen (compared to 2.18 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 67.5% decrease in profit.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit significantly dropped to 0.41 billion yen, a 51.8% decrease compared to the same period last year. The operating profit margin worsened from 3.5% in the same period last year to 3.0%.

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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	68,972	1,781	1,518	84	2.5	57.4	Feb 10, 2023	J-GAAP
Apr - Dec, 2023	73,729	2,086	1,843	495	14.7	58.3	Feb 9, 2024	J-GAAP
Apr - Dec, 2024	75,504	1,894	1,707	-32	-1.0	85.4	Feb 10, 2025	J-GAAP
YoY	+2.4%	-9.2%	-7.4%	－	－

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	53,717	3,160	2,212	1,557	46.2	8	Nov 11, 2024	J-GAAP
Oct - Mar, 2024 New	49,717	1,360	712	957	28.4	8	Feb 10, 2025	J-GAAP
Revision Rate	-7.4%	-57.0%	-67.8%	-38.5%	-38.5%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	104,000	4,300	3,500	1,600	47.5	14	May 10, 2024	J-GAAP
Mar, 2025 New	100,000	2,500	2,000	1,000	29.7	14	Feb 10, 2025	J-GAAP
Revision Rate	-3.8%	-41.9%	-42.9%	-37.5%	-37.5%

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	51,999	2,485	2,188	1,010	30.1	15	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	49,717	1,360	712	957	28.4	8	Feb 10, 2025	J-GAAP
YoY	-4.4%	-45.3%	-67.5%	-5.2%	-5.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	93,847	3,089	2,644	-1,682	-50.1	10	May 12, 2023	J-GAAP
Mar, 2024	99,941	3,672	3,161	1,115	33.2	20	May 10, 2024	J-GAAP
Mar, 2025 Guidance	100,000	2,500	2,000	1,000	29.7	14	Feb 10, 2025	J-GAAP
YoY	+0.1%	-31.9%	-36.7%	-10.3%	-10.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	25,787	899	870	390	11.6	3.5	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	26,212	1,586	1,318	620	18.5	6.1	May 10, 2024	J-GAAP
Apr - Jun, 2024	24,249	805	850	214	6.4	3.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	26,034	335	438	-171	-5.1	1.3	Nov 11, 2024	J-GAAP
Oct - Dec, 2024	25,221	754	419	-75	-2.3	3.0	Feb 10, 2025	J-GAAP
YoY	-2.2%	-16.1%	-51.8%	－	－