Mory Industries (5464) Q2 2025 earnings summary

Executive summary

• Revenue for the interim period was ¥22,829 million, down 4.6% year-over-year, with operating profit at ¥2,810 million (down 5.5%) and net profit attributable to shareholders at ¥2,079 million (down 12.7%).

• Results exceeded initial forecasts despite declines, supported by stable stainless pipe volumes and resilient pricing.

• Japanese segment sales fell 4.4%, Indonesian segment sales dropped 9.7%, with segment profits down 3.8% and 58.1% respectively.

• Interim dividend of ¥80 per share was implemented as planned.

Financial highlights

• Gross profit margin improved to 24.9% from 23.9% year-over-year.

• Operating profit margin for the interim period was 12.3%, nearly flat from the previous year.

• Net profit margin declined to 9.1% from 10.0% year-over-year.

• Comprehensive income dropped 42.0% to ¥1,762 million.

• EPS for the period was ¥268.12, down from ¥306.89.

Outlook and guidance

• Full-year revenue forecast is ¥45,000 million, with operating profit projected at ¥5,000 million and net profit at ¥3,500 million; guidance and dividend forecasts remain unchanged.

• Focus areas include strengthening pipe sales, facility renewals, technological innovation, and IT system upgrades.