Mani (7730) Q4 2024 earnings summary

Executive summary

• Achieved record highs in net sales, operating income, ordinary income, and net income for the third consecutive year in FY2024, driven by strong overseas demand and favorable foreign exchange rates.

• All product segments and regions saw sales growth, with Asia (especially China and India) and North America as key contributors.

• FY2024 results exceeded forecasts, and the company projects continued growth for FY2025 despite a strong yen environment.

Financial highlights

• FY2024 net sales rose 16.4% year-over-year to ¥28,513 million; operating income up 15.8% to ¥8,392 million.

• Net income increased 5.6% to ¥6,286 million; EBITDA reached ¥10,062 million.

• Gross margin remained stable at 62.8%; operating margin at 29.4%.

• Overseas sales ratio reached 85.2%.

Outlook and guidance

• FY2025 forecasts: net sales of ¥30,200 million (+5.9%), operating income of ¥8,900 million (+6.1%), net income of ¥6,350 million (+1.0%).

• Assumed exchange rate for FY2025 is ¥136/USD, reflecting a stronger yen.

• Upfront investments in marketing and personnel planned for Southeast Asia and North America.

• Annual dividend forecast maintained at ¥39 per share.