Mitani Corporation (8066) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended December 31, 2024, increased by 2.1% year-over-year to ¥246.3 billion, driven by higher sales prices in construction materials, strong ODA project orders, and robust sales in the information systems and spice businesses.

• Operating income rose 21.2% year-over-year to ¥22.5 billion, supported by successful price pass-throughs and favorable segment performances, despite intensified competition in fuel and gasket businesses.

• Net income attributable to shareholders grew 11.3% year-over-year to ¥15.0 billion.

Financial highlights

• Gross profit margin improved to 17.6% from 16.4% year-over-year.

• Operating margin increased to 9.1% from 7.7% year-over-year.

• EPS for the period was ¥174.66, up from ¥151.41 in the prior year.

• Total assets at quarter-end were ¥300.6 billion, up ¥1.6 billion from the previous fiscal year-end.

• Equity ratio remained stable at 53.9%.

Outlook and guidance

• Full-year revenue forecast revised upward to ¥320.0 billion (+4.9% vs. previous forecast), operating income to ¥29.0 billion (+11.5%), and net income to ¥18.4 billion (+15.7%).

• Upward revision reflects resilient demand for construction materials and petroleum products, strong spice business sales, and effective price pass-through.

• Full-year EPS forecast raised to ¥219.93.