MEITEC GROUP HOLDINGS INC. Results for the 2nd Quarter of the Fiscal Year Ending March 31, 2023
October 27, 2022
MEITEC CORPORATION
President and CEO, COO
MEITEC Group CEO
Hideyo Kokubun
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INDEX
- Results for the 2nd Quarter of the Fiscal Year Ending March 31, 2023
- Forecast for the Fiscal Year Ending March 31, 2023
- 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 |
- I will now discuss the results for the second quarter and first half of the fiscal year ending March 31, 2023, and the forecast for the full year.
- Please see the Reference Materials later.
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1. Results for the 2nd Quarter of
the Fiscal Year Ending March 31, 2023
- I will begin by discussing results for the second quarter of the fiscal year ending March 31, 2023.
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Results for the 2nd Quarter of the Fiscal Year Ending March 31, 2023 (Group Consolidated)
- Net sales rose 14.0% year on year ⇒ Achieved an increase in number of engineers assigned to clients as a result of improvement in the pace of assignments of new employees
- Operating profit rose 42.1% year on year ⇒ Due to the increase in net sales absorbing the increase in labor expenses and other costs associated with growth in the number of engineers, and the increase in SG&A expenses
(Fractions of one million yen | 2Q ended Sep. | 2Q ended Sep. | YoY | ％ | Initial Forecast for | Progress toward the | |
2Q, announced on | |||||||
are rounded down) | 30, 2021 | 30, 2022 | Amount | Change | May 2022 | FY forecast | |
Net sales | 50,915 | 58,029 | ＋7,114 | ＋14.0% | 57,300 | ＋729 | |
Cost of sales | 38,074 | 42,357 | ＋4,282 | ＋11.2% | 42,000 | ＋357 | |
Cost of sales to Net sales | 74.8% | 73.0% | (1.8%) | ||||
SG&A Expenses | 7,503 | 8,088 | ＋584 | ＋7.8% | 8,500 | (412) | |
Operating profit | 5,336 | 7,584 | ＋2,247 | ＋42.1% | 6,800 | ＋784 | |
Operating profit margins | 10.5% | 13.1% | ＋2.6% | 11.9% | ＋1.2% | ||
Ordinary profit | 5,405 | 7,635 | ＋2,229 | ＋41.2% | 6,800 | ＋835 | |
Extraordinary income & loss | (4) | 0 | ＋4 | ||||
Profit before income taxes | 5,401 | 7,635 | ＋2,233 | ＋41.4% | |||
Profit attributable to owners of parent | 3,549 | 5,107 | ＋1,557 | ＋43.9% | 4,500 | ＋607 | |
Profit margins | 7.0% | 8.8% | ＋1.8% |
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- This shows the Group's consolidated results.
-
During the second quarter of the fiscal year ending March 31, 2023, restrictions on economic activities due to the impact of the novel coronavirus disease (COVID-19) were eased, and the shift towards a new stage of coexistence with COVID-19 brought about a moderate recovery in business conditions.
That said, the economic outlook remained uncertain due to a tense international situation, soaring resource prices, the impact from depreciation of the yen, and other factors. - Meanwhile, major manufacturing firms that are our main clients continued to invest in technological development, leading to a favorable environment for our orders.
- As a result, net sales rose 14% year on year to ¥58,029 million, operating profit rose 42.1% to ¥7,584 million and profit attributable to owners of parent rose 43.9% to ¥5,107 million.
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Results for the 2nd Quarter of the Fiscal Year Ending 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 | 2Q ended Sep. 30, | 2Q ended Sep. | YoY | ％ | ||
are rounded down) | 2021 | 30, 2022 | Amount | Change | ||
Sales of Engineering Solutions Business | 50,233 | 57,160 | ＋6,927 | ＋13.8% | ||
Component ratio | 98.7% | 98.5% | (0.2%) | |||
Operating profit | 5,122 | 7,257 | ＋2,134 | ＋41.7% | ||
Sales of Recruiting & Placement Business | 732 | 912 | ＋179 | ＋24.6% | ||
for Engineers | ||||||
Component ratio | 1.4% | 1.6% | ＋0.1% | |||
Operating profit | 214 | 327 | ＋113 | ＋52.8% | ||
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- This shows results for the Meitec Group by business domains.
- In the Engineering Solutions Business and Recruiting & Placement Business for Engineers, both sales and profit increased year on year.
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Meitec Corporation published this content on 09 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2022 00:10:05 UTC.
