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M&A Research Institute, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 32% Decrease

Wed Apr 30, 2025 3:30 pm JST Earnings

9552 M&A Research Institute Holdings Inc. 【J-GAAP】

Earnings Report

M&A Research Institute Holdings Inc. <9552> [TSE Prime] announced its financial results after the market closed on April 30th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending September 2025 (October 2024 to March 2025) dropped 49.6% from the same period last year to 2.48 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 44.8%, from the previous forecast of 10.3 billion yen to 5.74 billion yen (compared to 8.4 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 31.7% 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 April to September period (2H) is expected to decrease 6.3% from the same period last year to 3.25 billion yen.

In the most recent three-month period, from January to March (2Q), the consolidated ordinary profit dropped to 0.8 billion yen, a 49.3% decrease compared to the same period last year. The operating profit margin significantly dropped from 43.7% in the same period last year to 22.9%.

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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
Oct - Mar, 2022 3,874 2,287 2,284 1,567 27.2 50.9 Apr 28, 2023 J-GAAP
Oct - Mar, 2023 8,526 4,938 4,937 3,173 54.3 58.7 Apr 30, 2024 J-GAAP
Oct - Mar, 2024 7,658 2,480 2,489 1,568 26.8 43.4 Apr 30, 2025 J-GAAP
YoY -10.2% -49.8% -49.6% -50.6% -50.6%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 Guidance ー ー ー ー － 0 Oct 29, 2024 J-GAAP
Oct - Mar, 2024 Results 7,658 2,480 2,489 1,568 26.8 0 Apr 30, 2025 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
Sep, 2025 Prev 23,200 10,400 10,398 6,759 123.2 0 Oct 29, 2024 J-GAAP
Sep, 2025 New 17,950 5,732 5,740 3,960 72.2 0 Apr 30, 2025 J-GAAP
Revision Rate -22.6% -44.9% -44.8% -41.4% -41.4%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 8,023 3,470 3,468 2,615 44.7 0 Oct 29, 2024 J-GAAP
Apr - Sep, 2025 Guidance 10,292 3,252 3,251 2,392 43.6 0 Apr 30, 2025 J-GAAP
YoY +28.3% -6.3% -6.3% -8.5% -2.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep, 2023 8,642 4,579 4,484 2,646 45.9 0 Oct 27, 2023 J-GAAP
Sep, 2024 16,549 8,408 8,405 5,788 98.8 0 Oct 29, 2024 J-GAAP
Sep, 2025 Guidance 17,950 5,732 5,740 3,960 72.2 0 Apr 30, 2025 J-GAAP
YoY +8.5% -31.8% -31.7% -31.6% -27.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jan - Mar, 2024 3,626 1,585 1,585 998 17.1 43.7 Apr 30, 2024 J-GAAP
Apr - Jun, 2024 4,245 2,081 2,083 1,325 22.6 49.0 Jul 30, 2024 J-GAAP
Jul - Sep, 2024 3,778 1,389 1,385 1,290 22.0 36.8 Oct 29, 2024 J-GAAP
Oct - Dec, 2024 4,178 1,684 1,685 1,092 18.7 40.3 Jan 30, 2025 J-GAAP
Jan - Mar, 2025 3,480 796 804 476 8.1 22.9 Apr 30, 2025 J-GAAP
YoY -4.0% -49.8% -49.3% -52.3% -52.3%

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