Mansei (7565) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 FY2025 was ¥5,465 million, a 14.2% decrease year-over-year due to production adjustments and changes in product flow among major customers.

• Operating income fell 54.9% year-over-year to ¥193 million, and net income attributable to shareholders dropped 54.1% to ¥144 million.

• The business environment remained challenging with ongoing inventory adjustments in China and high material costs, despite steady demand for IT and decarbonization investments.

Financial highlights

• Gross profit for Q1 FY2025 was ¥795 million, down from ¥1,029 million in the previous year.

• Comprehensive income for the quarter was ¥185 million, a 58.3% decrease year-over-year.

• EPS for Q1 FY2025 was ¥63.29, compared to ¥137.99 in Q1 FY2024.

Outlook and guidance

• Full-year revenue forecast is ¥23,500 million, up 10.1% year-over-year, but operating and net income are expected to decline 39.4% and 50.5%, respectively.

• Interim dividend forecast revised to ¥40.00 per share; year-end dividend remains undecided.

• Management notes that actual results may differ significantly due to various factors.