Results for the Fiscal Year Ended March 31, 2023
May 11, 2023
MEITEC CORPORATION
President and CEO, COO
MEITEC Group CEO
Hideyo Kokubun
Disclaimer regarding forward-looking statements
Earnings forecasts and other forward-looking statements in this release are based on data currently available to management and certain assumptions that management believes are reasonable.
Actual results may therefore differ materially from these statements for various reasons. Some important factors that might have an effect on business performance pertain to Business
Risks stated in the Company's annual securities report and other information already released, but factors influencing business performance are not limited to those released.
IR Contact
E-mail: ir@meitec.com
Tel : 050-3033-0945
INDEX
- Results for the Fiscal Year Ended March 31, 2023
- New Mid-term Management Plan [2023-2025]
- Forecast for the Fiscal Year Ending March 31, 2024
- Reference Materials
(Note) This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translation and the Japanese original, the original shall prevail. | 5 |
1. Results for the Fiscal Year
Ended March 31, 2023
Results for the Fiscal Year Ended March 31, 2023 (Group Consolidated)
- Net sales rose 11.1% year on year while operating profit rose 28.4%
- Profit rose 32.6% year on year due to decreased tax burden on Meitec and Meitec Fielders
(Fractions of one million yen | FY ended | FY ended March. | YoY | % | Past Forecast | Progress toward the | |
March. 31, 2022 | 31, 2023 | Amount | Change | FY forecast | |||
are rounded down) | |||||||
Net sales | 107,140 | 119,069 | +11,928 | +11.1% | 119,500 | (431) | |
Cost of sales | 78,917 | 86,360 | +7,442 | +9.4% | 86,700 | (340) | |
Cost of sales to Net sales | 73.7% | 72.5% | (1.1%) | ||||
SG&A Expenses | 15,405 | 16,245 | +840 | +5.5% | 17,000 | (755) | |
Operating profit | 12,817 | 16,462 | +3,645 | +28.4% | 15,800 | +662 | |
Operating profit margins | 12.0% | 13.8% | +1.9% | 13.2% | +0.6% | ||
Ordinary profit | 12,948 | 16,540 | +3,592 | +27.7% | 15,900 | +640 | |
Extraordinary income & loss | (5) | (3) | +2 | ||||
Profit before income taxes | 12,942 | 16,537 | +3,594 | +27.8% | |||
Profit attributable to owners of parent | 9,240 | 12,252 | +3,011 | +32.6% | 10,900 | +1,352 | |
Profit margins | 8.6% | 10.3% | +1.7% | ||||
Return on Equity (ROE) | 20.6% | 26.6% | +6.0% | ||||
Ordinary profit to total assets ratio | 16.5% | 19.9% | +3.4% | ||||
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Results for the Fiscal Year Ended March 31, 2023 (Business Domains)
- Both sales and profit increased in the Engineering Solutions Business and the Recruiting & Placement Business for Engineers year on year.
(Fractions of one million yen are rounded down)
Sales of Engineering Solutions Business
Component ratio
Operating profit
Sales of Recruiting & Placement Business for Engineers
Component ratio
Operating profit
FY ended March. | FY ended March. | YoY | % | |
31, 2022 | 31, 2023 | Amount | Change | |
105,715 | 117,456 | +11,740 | +11.1% | |
98.7% | 98.6% | (0.0%) | ||
12,343 | 15,915 | +3,572 | +28.9% | |
1,530 | 1,681 | +151 | +9.9% | |
1.4% | 1.4% | (0.0%) | ||
474 | 547 | +72 | +15.3% | |
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Results for the Fiscal Year Ended March 31, 2023 (Meitec)
- Year on year, net sales rose 8.8% while operating profit rose 25.3% and the number of engineers increased 3.1%
- Profit rose 33.1% year on year due mainly to decreased tax burden
(Fractions of one million yen | FY ended | FY ended March. | YoY | % | Past Forecast | Progress toward | |
March. 31, 2022 | 31, 2023 | Amount | Change | the FY forecast | |||
are rounded down) | |||||||
Net sales | 77,010 | 83,765 | +6,754 | +8.8% | 83,500 | +265 | |
Cost of sales | 56,503 | 60,117 | +3,613 | +6.4% | 60,000 | +117 | |
Cost of sales to Net sales | 73.4% | 71.8% | (1.6%) | 71.9% | (0.1%) | ||
SG&A Expenses | 9,960 | 10,436 | +475 | +4.8% | 10,800 | (364) | |
Operating profit | 10,546 | 13,212 | +2,665 | +25.3% | 12,700 | +512 | |
Operating profit margins | 13.7% | 15.8% | +2.1% | 15.2% | +0.6% | ||
Ordinary profit | 11,125 | 14,113 | +2,988 | +26.9% | 13,600 | +513 | |
Extraordinary income & loss | (5) | (3) | +2 | ||||
Profit before income taxes | 11,120 | 14,110 | +2,990 | +26.9% | |||
Profit | 8,051 | 10,719 | +2,667 | +33.1% | 9,600 | +1,119 | |
Utilization ratio (Company-wide) | 94.3% | 97.2% | +2.9% | 96.5% | +0.7% | ||
Working Hours〈h/day〉 | 8.42 | 8.38 | (0.04) | (0.5%) | 8.41 | (0.03) | |
Number of Recruitment | 628 | 699 | +71 | +11.3% | 754 | (55) | |
Newly graduated | 462 | 474 | +12 | +2.6% | 474 | ― | |
Mid-career | 166 | 225 | +59 | +35.5% | 280 | (55) | |
Turnover Ratio | 5.8% | 6.0% | +0.2% | 5.8% | +0.2% | ||
Number of Engineers | 7,472 | 7,703 | +231 | +3.1% |
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Results for the Fiscal Year Ended March 31, 2023 (Meitec Fielders)
- Year on year, net sales rose 18.0% while operating profit rose 46.4% and the number of engineers increased 10.8%
- Profit rose 43.1% year on year due mainly to decreased tax burden
(Fractions of one million yen | FY ended March. | FY ended March. | YoY | % | Past Forecast | Progress toward | |
are rounded down) | 31, 2022 | 31, 2023 | Amount | Change | the FY forecast | ||
Net sales | 25,814 | 30,471 | +4,657 | +18.0% | 31,000 | (529) | |
Cost of sales | 20,015 | 23,561 | +3,545 | +17.7% | 23,950 | (389) | |
Cost of sales to Net sales | 77.5% | 77.3% | (0.2%) | 77.3% | +0.1% | ||
SG&A Expenses | 4,067 | 4,375 | +308 | +7.6% | 4,650 | (275) | |
Operating profit | 1,731 | 2,534 | +803 | +46.4% | 2,400 | +134 | |
Operating profit margins | 6.7% | 8.3% | +1.6% | 7.7% | +0.6% | ||
Ordinary profit | 1,732 | 2,535 | +802 | +46.3% | 2,400 | +135 | |
Extraordinary income & loss | ― | ― | ― | ||||
Profit before income taxes | 1,732 | 2,535 | +802 | +46.3% | |||
Profit | 1,337 | 1,913 | +576 | +43.1% | 1,650 | +263 | |
Utilization ratio (Company-wide) | 89.0% | 93.3% | +4.3% | 93.1% | +0.2% | ||
Working Hours〈h/day〉 | 8.39 | 8.26 | (0.13) | (1.5%) | 8.34 | (0.08) | |
Number of Recruitment | 913 | 1,008 | +95 | +10.4% | 1,211 | (203) | |
Newly graduated | 302 | 411 | +109 | +36.1% | 411 | ― | |
Mid-career | 611 | 597 | (14) | (2.3%) | 800 | (203) | |
Turnover Ratio | 13.5% | 13.9% | +0.4% | 13.0% | +0.9% | ||
Number of Engineers | 3,793 | 4,203 | +410 | +10.8% |
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Meitec Corporation published this content on 11 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 May 2023 02:43:07 UTC.