Want to see JP:2201 full AI Analyst Report?
EarningsQ2 2024 Earnings Report
JP:2201 Q2 2024 EPS Results
Actual EPS¥64.11
Consensus EPS¥71.15
Beat/MissMissed by -¥7.04
One Year Ago EPS¥64.60
JP:2201 Q2 2024 Revenue Results
Actual Revenue¥61.92B
Expected Revenue¥62.75B
Beat/MissMissed by -¥829.68M
YoY Revenue Growth+5.81%
Earnings Announcement Details
QuarterQ2 2024
Date11/12/2024
TimeTBA
Conference CallTuesday, November 12, 2024
JP:2201 Upcoming Earnings
Morinaga & Co's next earnings date is estimated for November 12, 2026, based on past reporting schedules.
Q2 2024 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2024 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2024 Earnings Call Summary
Earnings Call Sentiment|Neutral
The earnings call highlighted significant growth in net sales and strong performance in key segments like the U.S. business and Frozen Desserts. Strategic initiatives and successful market expansions are positive indicators for future growth. However, challenges such as increased costs, expected profit declines in H2, and pressure on profit margins due to raw material costs present notable challenges. The overall sentiment is cautiously optimistic with a recognition of areas requiring attention.Company Guidance
Record-Breaking Net Sales and Growth
Net sales for Q2 reached JPY 109.6 billion, an increase of JPY 11.2 billion over the previous year, representing 111.4% of the previous year's sales. This was JPY 3.6 billion higher than the forecast announced 6 months prior.
U.S. Business Performance
Significant earnings contribution from the U.S. business with sales on a local currency basis reaching 130% of the previous year's level in H1 and a forecast of 127% for H2.
Strong Performance in Frozen Desserts
Frozen Desserts outperformed the market with a growth of 114.2% compared to the market's 111.8% from April to September. Ita Choco Ice shipments were 141% of the previous year's shipments.
Confectionery Segment Success
Morinaga Biscuits brand achieved record sales in September with a market growth of 124.4%, significantly higher than the overall market growth of 103.6%.
HI-CHEW Market Expansion
HI-CHEW achieved record total brand sales with a market growth of 129% compared to the year before the previous year. The rollout of HI-CHEW Day in August was well received.
Revised Positive Earnings Forecast
Revised net sales forecast for the fiscal year ending March 2024 is JPY 210 billion, an increase of JPY 15.7 billion over the previous year, with operating income expected to increase by JPY 3.5 billion.
Increase in Operating Margin
Operating income was JPY 14.1 billion, an increase of JPY 3.9 billion from the previous year, with an operating margin improvement of 2.5 percentage points to 12.9%.
Successful Strategic Initiatives
Company's strategic initiatives in DX, human resources, and advertising have contributed to the overall growth and are expected to continue supporting future business expansion.
JP:2201 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed