Results for the Fiscal Year Ended March 31, 2023
May 11, 2023
MEITEC CORPORATION
President and CEO, COO
MEITEC Group CEO
Hideyo Kokubun
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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 |
- Now, I would like to present the results for the fiscal year ended March 31, 2023, the Group's new three-yearMid-term Management Plan, and our forecasts for the fiscal year ending March 31, 2024.
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1. Results for the Fiscal Year
Ended March 31, 2023
- First, I would like to present the results for the fiscal year ended March 31, 2023.
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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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- This shows the Group's consolidated results.
- In the fiscal year ended March 31, 2023, the economy continued its moderate recovery with the gradual easing of restrictions on movement caused by COVID-19 as well as the progress made in the normalization of social and economic activities. That said, the economic outlook remained uncertain due to a tense international situation, higher resource prices, and other factors.
- Meanwhile, major manufacturing firms that are our main clients have continued to invest in technological development, which also led to a favorable environment for our orders.
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As a result, net sales rose 11.1% year on year to ¥119,069 million and operating profit rose 28.4% year on year to ¥16,462 million.
Profit attributable to owners of parent increased by 32.6% year on year to ¥12,252 million mainly due to the decrease in the tax burden for both Meitec and Meitec Fielders from the application of tax credits for promotion of salary increases. - Net sales fell slightly short of our forecast due to lower working hours than in our forecast.
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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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- This shows the results for the Meitec Group by business domains.
- Both sales and profit increased year on year in the Engineering Solutions Business as well as the Recruiting & Placement Business for Engineers.
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Meitec Corporation published this content on 23 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 May 2023 07:09:07 UTC.