Mani (7730) Q3 2024 earnings summary

Executive summary

• Net sales for the nine months ended May 31, 2024, rose 16.7% year-over-year to ¥21,610 million, driven by strong overseas demand and yen depreciation.

• Operating income increased 19.7% to ¥6,498 million, and net income attributable to owners of parent grew 20.9% to ¥5,082 million year-over-year.

• Growth was supported by robust sales in Asia and North America, with notable contributions from the Surgical and Eyeless Needle segments.

• All product segments performed well, with foreign exchange gains from yen depreciation boosting ordinary income.

• Strategic investments included the launch of a Smart Factory in Japan and expansion of overseas production and sales subsidiaries.

Financial highlights

• Gross profit increased to ¥13,608 million (up from ¥11,327 million), with gross margin at 63.0% for the period.

• Ordinary income reached ¥7,125 million (up 23.3%), aided by foreign exchange gains.

• SG&A expenses rose by ¥1,210 million (20.5%) due to higher marketing and personnel costs.

• EPS for the nine months was ¥51.60, up from ¥42.71 year-over-year.

• Comprehensive income surged 44.8% to ¥6,641 million, mainly due to foreign currency translation adjustments.

Outlook and guidance

• Full-year net sales forecast maintained at ¥27,500 million, with operating income projected at ¥5,900 million and EPS at ¥59.90.

• No revisions to earnings forecasts despite strong 3Q results, reflecting caution over forex volatility and macroeconomic uncertainties.