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MATSUMOTO, First Half Net Income Loss Widens

Fri Dec 13, 2024 3:30 pm JST Earnings

7901 MATSUMOTO INC. 【J-GAAP】

Earnings Report

MATSUMOTO INC. <7901> [TSE Std] announced its financial results after the market closed on December 13th (15:30). The net loss (non-consolidated) for the cumulative second quarter of the fiscal year ending April 2025 (May to October) expanded to a loss of 491 million yen (compared to a loss of 340 million yen in the same period last year), further increasing the deficit beyond the forecast of a loss of 393 million yen.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the net income for the November to April period (second half) is expected to expand 96.1% from the same period last year, reaching 498 million yen.

In the most recent three-month period, from August to October (2Q), the net loss expanded to a loss of 326 million yen (compared to a loss of 216 million yen in the same period last year). The operating profit/loss margin drastically worsened from -152.2% in the same period last year to -213.6%.

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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
May - Oct, 2022 665 -349 -338 -341 -301.5 ー Dec 14, 2022 J-GAAP
May - Oct, 2023 607 -398 -390 -340 -300.6 ー Dec 15, 2023 J-GAAP
May - Oct, 2024 566 -497 -488 -491 -434.3 ー Dec 13, 2024 J-GAAP
YoY -6.8% -24.9% -25.1% -44.4% -44.5%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
May - Oct, 2024 Guidance 617 -389 -389 -393 -347.2 0 Jun 14, 2024 J-GAAP
May - Oct, 2024 Results 566 -497 -488 -491 -434.3 0 Dec 13, 2024 J-GAAP
Revision Rate -8.3% -27.8% -25.4% -24.9% -25.1%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Nov - Apr, 2023 1,607 252 253 254 225.9 0 Jun 14, 2024 J-GAAP
Nov - Apr, 2024 Guidance 1,851 508 501 498 439.7 0 Dec 13, 2024 J-GAAP
YoY +15.2% +101.6% +98.0% +96.1% +94.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr, 2023 2,242 12 32 74 65.7 0 Jun 13, 2023 J-GAAP
Apr, 2024 2,214 -146 -137 -86 -76.5 0 Jun 14, 2024 J-GAAP
Apr, 2025 Guidance 2,417 11 13 7 6.2 0 Jun 14, 2024 J-GAAP
YoY +9.2% － － － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Aug - Oct, 2023 178 -271 -268 -216 -191.0 -152.2 Dec 15, 2023 J-GAAP
Nov - Jan, 2023 123 -89 -87 -88 -77.9 -72.4 Mar 18, 2024 J-GAAP
Feb - Apr, 2024 1,484 341 340 342 304.2 23.0 Jun 14, 2024 J-GAAP
May - Jul, 2024 412 -168 -163 -165 -146.0 -40.8 Sep 12, 2024 J-GAAP
Aug - Oct, 2024 154 -329 -325 -326 -288.4 -213.6 Dec 13, 2024 J-GAAP
YoY -13.5% -21.4% -21.3% -50.9% -51.0%

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