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Meiho Facility Works: Corrected Financial Report - 44th Term (2023/04/01 - 2024/03/31)
Mitsutoyo Facilities Research Memo (10): Implement stable and continuous dividends with a dividend payout ratio of around 55% as a guide.
Shareholder return policy, Meito Facility Works <1717> implements dividends as a shareholder return strategy, and the basic policy for dividends is to implement stable and continuous profit return. Regarding the dividend payout ratio, it has been raised from about 50% to about 55% since the March 2023 term, taking into account factors such as the solidification of the financial foundation. Based on the same policy, the per-share dividend for the March 2024 term is 37.5 yen (dividend payout ratio 54.9%), increased by 6.0 yen compared to the previous year's payout.
Meito Facility Research Memo (9): Enhancing the value of CM services, including the use of DX, and strengthening human capital.
Future Outlook 2. Measures to Improve Corporate Value Meitoyo Facility Works <1717> aims to enhance the future prospects of the client support business by providing the necessary value and decision-making processes to orderers in facility lifecycle management, from new construction to maintenance and conservation, and office construction. At the same time, the company also strives to improve its corporate value. Based on the company's management philosophy of "fairness and transparency," it provides high-value-added CM services utilizing human resources development based on DX.
Meito Facility Research Memo (8): Strong Demand for CM Services from Both Public and Private Sectors.
Future outlook: 1. For the fiscal year ending March 2025, Meito Facility Works <1717> expects a slight increase in revenue, with sales of 5.3 billion yen, up 0.6% from the previous year, operating profit of 1.09 billion yen, up 2.0% from the previous year, ordinary income of 1.09 billion yen, up 1.8% from the previous year, and net income of 800 million yen, up 1.2% from the previous year. With regard to sales, there was a joint proposal project with another company in the previous year, resulting in sales and cost of sales of approximately 64 million yen.
Meito Facile Research Memo (7): The self-capital ratio is at a level of around 70%. The financial content is good with debt-free management.
Performance trends of Meito Facility Works <1717> 3. Financial condition and management indicators Seeing the financial condition at the end of March 2024, total assets increased by 703 million yen from the previous period to 7,323 million yen. Looking at the main factors of increase and decrease, in current assets, cash and deposits increased by 108 million yen, while accounts receivable and contract assets increased by 274 million yen. In fixed assets, intangible fixed assets increased by 59 million yen, and investment securities increased by 150 million yen due to investment in Tokyo Green Bonds issued.
Meito Facility Research Memo (6): Achieved increased revenue and profit in all business segments in the fiscal year ending March 2024.
Performance trend 2. Trends by business segment (1) Office business The revenue of the office business increased by 8.3% from the previous period to 1,004 million yen, and the operating profit increased by 43.7% to 108 million yen. Revenue increased for the first time in six periods, and operating profit increased for the second consecutive period. As companies explore new moves toward post-coronavirus, Mitoyou Facility Works <1717> has increased the recognition of being an advanced company that is working on work style reforms and DX on its own, and there are large corporate group integrations and centralization.
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