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Mitsubishi Estate Company, Limited, First Half Ordinary Profit Increases by 6%

Thu Nov 7, 2024 3:30 pm JST Earnings

8802 Mitsubishi Estate Company, Limited 【J-GAAP】

Earnings Report

Mitsubishi Estate Company, Limited <8802> [TSE-P] announced its financial results after the market closed on November 7th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 5.6% from the same period last year, reaching 79.4 billion yen. However, The progress rate against the 252 billion yen full-year plan was 31.5%, also falling below the five-year average of 39.4%.

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 4.0% from the same period last year, reaching 172 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 12.8% from the same period last year, reaching 35.6 billion yen. The operating profit margin rose from 14.2% in the same period last year to 15.4%.

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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 594,565 142,078 130,534 76,342 57.7 48.0 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 587,933 90,314 75,224 41,546 32.3 31.2 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 641,065 99,878 79,442 50,021 39.7 31.5 Nov 7, 2024 J-GAAP
YoY +9.0% +10.6% +5.6% +20.4% +22.8%

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 － 21 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 641,065 99,878 79,442 50,021 39.7 21 Nov 7, 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 916,754 188,313 165,934 126,886 99.4 20 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 954,935 200,122 172,558 122,979 98.7 22 Nov 7, 2024 J-GAAP
YoY +4.2% +6.3% +4.0% -3.1% -0.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 1,377,827 296,702 271,819 165,343 125.5 38 May 11, 2023 J-GAAP
Mar, 2024 1,504,687 278,627 241,158 168,432 132.0 40 May 10, 2024 J-GAAP
Mar, 2025 Guidance 1,596,000 300,000 252,000 173,000 138.9 43 May 10, 2024 J-GAAP
YoY +6.1% +7.7% +4.5% +2.7% +5.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 295,468 41,914 31,594 22,277 17.3 14.2 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 338,515 56,507 48,060 36,001 28.1 16.7 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 578,239 131,806 117,874 90,885 71.2 22.8 May 10, 2024 J-GAAP
Apr - Jun, 2024 328,239 51,798 43,794 25,941 20.5 15.8 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 312,826 48,080 35,648 24,080 19.1 15.4 Nov 7, 2024 J-GAAP
YoY +5.9% +14.7% +12.8% +8.1% +10.2%

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