Meitec : Presentation materials (6.46MB)

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

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： [e-mail]

Tel ： [phone]

INDEX

1. Results for the 2nd Quarter of the Fiscal Year Ending March 31, 2023
2. Forecast for the Fiscal Year Ending March 31, 2023
3. 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 2nd Quarter of

the Fiscal Year Ending March 31, 2023

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

		2Q ended Sep.	2Q ended Sep.	YoY	％	Initial Forecast for		Progress toward the
	(Fractions of one million yen	2Q, announced on
	Change
	are rounded down)	30, 2021	30, 2022	Amount	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%

7

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%

8

Results for the 2nd Quarter of the Fiscal Year Ending March 31, 2023 (Meitec)

• Year on year, net sales rose 11.0% while operating profit rose 36.9% and the number of engineers increased 3.3%
• Utilization ratio improved 4.6 points year on year ⇒ Due to pace of assignments improved for new employees compared to the previous fiscal year

	(Fractions of one million yen	2Q ended Sep.	2Q ended Sep.	YoY	％	Initial Forecast for	Progress toward
	2Q, announced on
	are rounded down)	30, 2021	30, 2022	Amount	Change	May 2022	the FY forecast
Net sales	36,841	40,899	＋4,057	＋11.0%	40,000	＋899
Cost of sales	27,476	29,634	＋2,157	＋7.9%	29,200	＋434
	Cost of sales to Net sales	74.6%	72.5%	(2.1%)		73.0%	(0.5%)
SG&A Expenses	4,917	5,176	＋259	＋5.3%	5,500	(324)
Operating profit	4,447	6,088	＋1,640	＋36.9%	5,300	＋788
	Operating profit margins	12.1%	14.9%	＋2.8%		13.3%	＋1.6%
Ordinary profit	5,027	6,986	＋1,958	＋38.9%	6,200	＋786
Extraordinary income & loss	(4)	0	＋4
Profit before income taxes	5,023	6,986	＋1,962	＋39.1%
Profit	3,470	4,937	＋1,467	＋42.3%	4,300	＋637
Utilization ratio (Company-wide)	91.0%	95.6%	＋4.6%		94.2%	＋1.4%
Working Hours〈h/day〉	8.36	8.34	(0.02)	(0.2%)	8.36	(0.02)
Number of Engineers	7,564	7,815	＋251	＋3.3%

9

Results for the 2nd Quarter of the Fiscal Year Ending March 31, 2023 (Meitec Fielders)

• Year on year, net sales rose 22.5% while operating profit rose 72.7% and the number of engineers increased 14.7%
• Utilization ratio improved 6.3 points year on year ⇒ Due to pace of assignments improved for new employees compared to the previous fiscal year

	(Fractions of one million yen	2Q ended Sep.	2Q ended Sep.	YoY	％	Initial Forecast for	Progress toward
	2Q, announced on
	are rounded down)	30, 2021	30, 2022	Amount	Change	May 2022	the FY forecast
Net sales	11,987	14,687	＋2,699	＋22.5%	14,600	＋87
Cost of sales	9,425	11,414	＋1,988	＋21.1%	11,450	(36)
	Cost of sales to Net sales	78.6%	77.7%	(0.9%)		78.4%	(0.7%)
SG&A Expenses	1,924	2,171	＋247	＋12.9%	2,200	(29)
Operating profit	638	1,101	＋463	＋72.7%	950	＋151
	Operating profit margins	5.3%	7.5%	＋2.2%		6.5%	＋1.0%
Ordinary profit	639	1,102	＋462	＋72.4%	950	＋152
Extraordinary income & loss	―	―	―
Profit before income taxes	639	1,102	＋462	＋72.4%
Profit	438	757	＋319	＋73.0%	650	＋107
Utilization ratio (Company-wide)	83.9%	90.2%	＋6.3%		90.2%	―
Working Hours〈h/day〉	8.34	8.23	(0.11)	(1.3%)	8.34	(0.11)
Number of Engineers	3,711	4,258	＋547	＋14.7%

10