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Mitsui Fudosan Co., Ltd., First Half Ordinary Profit Decreases by 11%

Fri Nov 8, 2024 3:30 pm JST Earnings

8801 Mitsui Fudosan Co., Ltd. 【J-GAAP】

Earnings Report

Mitsui Fudosan Co., Ltd. <8801> [TSE-P] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 11.1% from the same period last year to 137 billion yen. However, The progress rate against the 260 billion yen full-year plan was 52.8%, also surpassing the five-year average of 42.4%.

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 grow by 8.1% from the same period last year, reaching 122 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 47.1 billion yen, a 42.2% decrease compared to the same period last year. The operating profit margin decreased from 16.4% in the same period last year to 12.8%.

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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 1,057,046 131,518 120,267 100,144 35.1 45.3 Nov 9, 2022 J-GAAP
Apr - Sep, 2023 1,165,245 179,734 154,409 129,293 46.2 57.6 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 1,162,438 169,470 137,322 88,322 31.6 52.8 Nov 8, 2024 J-GAAP
YoY -0.2% -5.7% -11.1% -31.7% -31.7%

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 － 15 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 1,162,438 169,470 137,322 88,322 31.6 15 Nov 8, 2024 J-GAAP
Revision Rate － － － － －

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 1,218,044 159,956 113,481 95,354 34.0 16.33 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 1,437,562 170,530 122,678 146,678 52.9 15 Nov 8, 2024 J-GAAP
YoY +18.0% +6.6% +8.1% +53.8% +55.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 2,269,103 305,405 265,358 196,998 69.3 20.67 May 10, 2023 J-GAAP
Mar, 2024 2,383,289 339,690 267,890 224,647 80.2 28 May 10, 2024 J-GAAP
Mar, 2025 Guidance 2,600,000 340,000 260,000 235,000 84.7 30 May 10, 2024 J-GAAP
YoY +9.1% +0.1% -2.9% +4.6% +5.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 603,881 99,324 81,550 43,442 15.5 16.4 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 533,770 65,560 45,350 37,164 13.3 12.3 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 684,274 94,396 68,131 58,190 20.8 13.8 May 10, 2024 J-GAAP
Apr - Jun, 2024 630,376 101,299 90,152 65,018 23.2 16.1 Aug 2, 2024 J-GAAP
Jul - Sep, 2024 532,062 68,171 47,170 23,304 8.3 12.8 Nov 8, 2024 J-GAAP
YoY -11.9% -31.4% -42.2% -46.4% -46.4%

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