MISUMI Group (9962) Q1 2025 earnings summary

Executive summary

• Quarterly net sales reached a record ¥99,527 million, up 10.7% year-over-year, driven by strong demand in Asia, especially automotive, and favorable currency effects.

• Operating income rose 31.4% to ¥11,828 million, with net income up 52.0% to ¥9,251 million, supported by higher sales volume and improved product mix.

• Profitability improved despite ongoing costs for assertive measures and IT investments.

• Demand in Europe and the US remained weak due to sluggish market conditions and geopolitical risks, while Asia and Japan saw robust growth.

Financial highlights

• Net sales rose 10.7% year-over-year to ¥99,527 million in FY24 1Q.

• Operating income increased 31.4% to ¥11,828 million; margin up 1.9 points to 11.9%.

• Net income surged 52.0% to ¥9,251 million; net income per share was ¥32.92, up from ¥21.47.

• Gross profit increased to ¥47,152 million from ¥39,947 million year-over-year.

• Comprehensive income rose to ¥22,815 million, up 24.1% year-over-year.

Outlook and guidance

• Full-year FY24 forecast: net sales ¥393,000 million (+6.9%), operating income ¥46,000 million (+19.9%), net income ¥34,400 million (+22.2%), EPS ¥122.05.

• The company maintains its forecast due to ongoing market uncertainty despite gradual demand recovery.

• Profit management and assertive measures for MODEL innovation will continue amid market uncertainty.