MIRAIT ONE (1417) Q2 2025 earnings summary

Executive summary

• Orders received, net sales, and operating income all increased year-over-year in Q2 FY2024, reflecting strong business momentum and robust demand in NTT business, environmental and social innovation, and ICT solutions, with contributions from KOKUSAI KOGYO.

• Operating profit surged 97.9% year-over-year to 4,680 million yen, and profit attributable to owners of parent increased 642.0% to 1,418 million yen.

• Growth was driven by both organic expansion and the consolidation of KOKUSAI KOGYO, especially in environmental and social infrastructure.

• Strategic focus on data center business, ESG initiatives, digital transformation, and Vision 2030 underpins medium-term growth.

Financial highlights

• Orders received rose 21.8% year-over-year to ¥319.2 billion; net sales up 15.4% to ¥249.9 billion.

• Gross profit increased 49.5% year-over-year to ¥32.6 billion, with margin improving to 13.0%.

• Operating income nearly doubled to ¥4.7 billion (1.9% margin); net income rose to ¥1.4 billion.

• EBITDA for Q2 FY2024 reached ¥11.1 billion, with a margin of 4.4%.

• Comprehensive income for the period was 4,771 million yen, up 41.6% year-over-year.

Outlook and guidance

• Full-year FY2024 forecast maintained: orders received ¥580.0 billion, net sales ¥570.0 billion, EBITDA ¥40.0 billion (7.0% margin), operating income ¥27.0 billion (4.7% margin), net income ¥18.0 billion.

• Medium-term plan targets net sales of ¥720.0 billion+, EBITDA margin 8.5%+, and ROE 10%+.

• Annual dividend forecast raised to 75 yen per share.