MinebeaMitsumi announced its current fiscal-year results, with cumulative second-quarter net profit increasing 78.4% year on year to ¥51.0 billion. It upgraded its full-year net profit forecast to ¥100.0 billion and is expected to post another record profit.
MinebeaMitsumi announced through its earnings summary that cumulative second-quarter consolidated net profit for fiscal 2024, April–September, was ¥51.0 billion, up 78.4% year on year. The result exceeded the previous forecast of ¥40.5 billion and was calculated under IFRS.
The company upgraded its full-year net profit forecast from ¥87.0 billion to ¥100.0 billion, a 14.9% upward revision. It is consequently expected to post a record profit for the second consecutive period. Based on first-half results and the second-half outlook, second-half consolidated net profit is expected to fall 30.5% year on year to ¥48.9 billion.
July–September consolidated net profit was ¥29.7 billion, up 67.9% year on year, while the profit margin on sales was nearly unchanged at 6.8%, compared with 6.6% the previous year.
The current fiscal-year forecast continues to indicate growth even after the upward revision, while some decline in profit is expected in the second half.