Meiji Electric Industries Co (3388) Q1 2025 earnings summary

Executive summary

• Net sales for the quarter ended June 30, 2024, were ¥15,148 million, down 3.9% year-over-year.

• Operating profit dropped 86.2% year-over-year to ¥45 million.

• Ordinary profit decreased 63.3% to ¥133 million compared to the same quarter last year.

• Profit attributable to owners of parent fell 63.4% year-over-year to ¥133 million.

• Earnings per share for the quarter were ¥10.46, down from ¥28.77 a year ago.

Financial highlights

• Gross profit for the quarter was ¥2,154 million, compared to ¥2,260 million last year.

• Selling, general and administrative expenses increased to ¥2,108 million from ¥1,931 million year-over-year.

• Total assets as of June 30, 2024, were ¥48,543 million, down from ¥52,148 million at the previous fiscal year-end.

• Equity ratio improved to 67.4% from 62.9% as of March 31, 2024.

• Comprehensive income for the quarter was ¥451 million, down from ¥761 million year-over-year.

Outlook and guidance

• Full-year net sales forecast is ¥78,500 million, up 5.3% year-over-year.

• Full-year operating profit is projected at ¥3,250 million, up 11.5% year-over-year.

• Profit attributable to owners of parent for the full year is forecast at ¥2,510 million, up 3.5% year-over-year.

• Full-year earnings per share forecast is ¥198.06.

• Annual dividend forecast is ¥60.00 per share.