Results for the 3rd Quarter of the Fiscal Year Ending March 31, 2023
January 31, 2023
MEITEC CORPORATION
President and CEO, COO
MEITEC Group CEO
Hideyo Kokubun
Disclaimer
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
Results for the 3rd Quarter of the Fiscal Year Ending March 31, 2023 (Group Consolidated)
- Net sales rose 12.4% ⇒ Achieved an increase in the number of engineers assigned to clients due to growth in the number of engineers and improvement of utilization ratio
- Operating profit rose 29.5% ⇒ 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 | 3Q ended Dec. 31, | 3Q ended Dec. 31, | YoY | % | Past Forecast | % | |
2021 | 2022 | Amount | Change | Change | |||
are rounded down) |
Net sales | 78,936 | 88,696 | + | + | 12.4% | 119,500 | 74.2% | |
9,760 | ||||||||
Cost of sales | 58,079 | 64,180 | + | + | 10.5% | 86,700 | ||
6,101 | ||||||||
Cost of sales to Net sales | 73.6% | 72.4% | (1.2%) | |||||
SG&A Expenses | 11,294 | 12,130 | +835 | +7.4% | 17,000 | |||
Operating profit | 9,562 | 12,385 | + | + | 29.5% | 15,800 | 78.4% | |
2,822 | ||||||||
Operating profit margins | 12.1% | 14.0% | 1.8% | 13.2% | ||||
+ | ||||||||
Ordinary profit | 9,667 | 12,447 | + | + | 28.8% | 15,900 | 78.3% | |
2,780 | ||||||||
Extraordinary income & loss | (4) | 0 | + | |||||
3 | ||||||||
Profit before income taxes | 9,662 | 12,447 | + | + | 28.8% | |||
2,784 | ||||||||
6,492 | 8,490 | + | + | 30.8% | 10,900 | 77.9% | ||
Profit attributable to owners of parent | 1,998 | |||||||
Profit margins | 8.2% | 9.6% | +1.3% | |||||
3
Results for the 3rd Quarter of the Fiscal Year Ending March 31, 2023 (Meitec)
- Year on year, net sales rose 9.8% while operating profit rose 26.3% and the number of engineers increased 3.4%
- Utilization ratio improved 3.6 points year on year ⇒ We proceeded with the assignment of engineering staff in response to orders.
3Q ended Dec. | 3Q ended Dec. | YoY | % | Past Forecast | % | ||
(Fractions of one million yen are | 31, 2021 | 31, 2022 | Amount | Change | Change | ||
rounded down) | |||||||
Net sales | 56,880 | 62,443 | +5,563 | +9.8% | 83,500 | 74.8% | |
Operating profit | 7,809 | 9,863 | +2,054 | +26.3% | 12,700 | 77.7% | |
Operating profit margins | 13.7% | 15.8% | +2.1% | 15.2% | |||
Ordinary profit | 8,388 | 10,764 | +2,376 | +28.3% | 13,600 | 79.1% | |
Profit | 5,793 | 7,608 | +1,814 | +31.3% | 9,600 | 79.3% | |
Utilization ratio (Company-wide) | 93.0% | 96.6% | +3.6% | 96.5% | |||
Working Hours〈h/day〉 | 8.37 | 8.36 | (0.01) | (0.1%) | 8.41 | ||
Number of Engineers | 7,511 | 7,764 | +253 | +3.4% | |||
4
Results for the 3rd Quarter of the Fiscal Year Ending March 31, 2023 (Meitec Fielders)
- Year on year, net sales rose 20.0% while operating profit rose 45.2% and the number of engineers increased 13.4%
- Utilization ratio improved 5.1 points year on year ⇒ We proceeded with the assignment of engineering staff in response to orders.
3Q ended Dec. | 3Q ended Dec. | YoY | % | Past Forecast | % | |||
(Fractions of one million yen are | 31, 2021 | 31, 2022 | Amount | Change | Change | |||
rounded down) | ||||||||
Net sales | 18,874 | 22,642 | +3,768 | +20.0% | 31,000 | 73.0% | ||
Operating profit | 1,370 | 1,990 | +619 | +45.2% | 2,400 | 82.9% | ||
Operating profit margins | 7.3% | 8.8% | + | 7.7% | ||||
1.5% | ||||||||
Ordinary profit | 1,371 | 1,990 | +618 | +45.1% | 2,400 | 82.9% | ||
Profit | 941 | 1,369 | +427 | +45.3% | 1,650 | 83.0% | ||
Utilization ratio (Company-wide) | 87.0% | 92.1% | 5.1% | 93.1% | ||||
+ | ||||||||
Working Hours〈h/day〉 | 8.35 | 8.25 | (0.10) | (1.2%) | 8.34 | |||
Number of Engineers | 3,749 | 4,250 | + | 501 | + | |||
13.4% | ||||||||
5
Results for the 3rd Quarter of the Fiscal Year Ending March 31, 2023 (Group Overview)
- Both sales and profit increased YoY for Meitec Next. ⇒ An increase in the number of job placements.
Engineering Solutions Business
Recruiting & Placement Business for Engineers
(Fractions of one million | Meitec | Meitec | Meitec | Meitec | Meitec | |||||
Fielders | Cast | EX | Next | |||||||
yen are rounded down) | ||||||||||
Net sales | 62,443 | 22,642 | 2,476 | 249 | 1,274 | |||||
YoY | + | 5,563 | + | + | + | 12 | + | |||
Amount | 3,768 | 246 | 157 | |||||||
% | + | + | 20.0% | + | + | + | ||||
Change | 9.8% | 11.0% | 5.3% | 14.0% | ||||||
Operating profit | 9,863 | 1,990 | 161 | (1) | 416 | |||||
YoY | + | 2,054 | + | 619 | + | (0) | + | |||
Amount | 21 | 77 | ||||||||
% | + | + | 45.2% | + | - | + | ||||
Change | 26.3% | 15.1% | 23.0% | |||||||
Ordinary profit | 10,764 | 1,990 | 161 | (1) | 416 | |||||
Profit | 7,608 | 1,369 | 111 | (1) | 288 | |||||
6
Number of Engineers (Group Consolidated)
- The number of engineers as of December 31, 2022 was 12,014, an increase of 754 engineers, or 6.7%, compared to December 31, 2021.
(名/Person) | |||||||||||||||
MEITEC | MEITEC FIELDERS | その他/Others | |||||||||||||
10,000 | |||||||||||||||
Lehman | Earth- | Previous Mid-term | Mid-term Plan | ||||||||||||
shock | quake | Plan | |||||||||||||
0 | |||||||||||||||
'07/4 | '08/4 | '09/4 | '10/4 | '11/4 | '12/4 | '13/4 | '14/4 | '15/4 | '16/4 | '17/4 | '18/4 | '19/4 | '20/4 | '21/4 | '22/4 |
7 |
Number of Engineers (Meitec)
- The number of engineers as of December 31, 2022 was 7,764, an increase of 253 engineers, or 3.4%, compared to December 31, 2021.
(名/Person) | |||||||||||||||
8,000 | Hiring of new | ||||||||||||||
graduates | |||||||||||||||
7,500 | |||||||||||||||
7,000 | |||||||||||||||
6,500 | |||||||||||||||
6,000 | Achieving both mid-career hire and reduction | ||||||||||||||
of turnover ratio at same time | |||||||||||||||
5,500 | |||||||||||||||
Lehman | Earth- | Previous Mid-term | Mid-term Plan | ||||||||||||
shock | quake | Plan | |||||||||||||
5,000 | |||||||||||||||
'07/4 | '08/4 | '09/4 | '10/4 | '11/4 | '12/4 | '13/4 | '14/4 | '15/4 | '16/4 | '17/4 | '18/4 | '19/4 | '20/4 | '21/4 | '22/4 |
8
Number of Engineers (Meitec Fielders)
- The number of engineers as of December 31, 2022 was 4,250, an increase of 501 engineers, or 13.4%,
compared to December 31, 2021.
(名/Person)
Hiring of new
graduates
Lehman
shock
Earthquake
Achieving both mid-career hire and
reduction of turnover ratio at same time
Previous Mid-term | Mid-term Plan |
Plan | |
Hiring Target for the Fiscal Year Ending March 31, 2023 Re-posted
Mid-career hires (FY 2023/3)
- The need for engineers continues to intensify and overheating , making the hiring environment extremely competitive
-
While maintaining its hiring standards, aim to achieve the target number of recruits by expanding recruiting channels
⇒Continuing to disseminate the "lifetime professional engineer" career style and our approach to career advancement
New Graduates (Joining April 2023)
- Corporate appetite for hiring new graduates remains at high levels, and competition is intensifying more than last year
- We strived to create contact points with many students, while maintaining our hiring standards and taking measures to prevent infection, keeping in mind the increasingly diverse inclinations of students
- However, due to robust hiring demand from manufacturers throughout the country and student preference for local jobs is strengthening, we are struggling to secure the required number of hires
(person)
Meitec
Meitec Fielders
Fiscal Year Ending March 31, 2023 | Fiscal Year | ||||||
Ending March 31, 2024 | |||||||
New Graduates | Mid-career | Total | New Graduates | ||||
April 2022 | April 2023 | ||||||
(Actual) | <Target> | Comparison to | <Target> | Comparison to | 〈Prospective Number | Comparison to | |
Initial Forecast | Initial Forecast | as of Oct. 2022〉 | Initial Forecast | ||||
474 | 280 | ― | 754 | ― | 483 | (17) | |
411 | 800 | ― | 1,211 | ― | 391 | (59) | |
Total | 885 | 1,080 | ― | 1,965 | ― | 874 | (76) |
Comparison to | +121 | +303 | +424 | ||||
previous year | 10 | ||||||
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Meitec Corporation published this content on 31 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2023 02:36:09 UTC.