On the 29th, Mishiki Industry <1718> announced its consolidated financial results for the second quarter of the fiscal year ending December 2024 (January to June 2024). Revenue decreased by 19.2% compared to the same period last year, totaling 13.125 billion yen, operating profit decreased by 28.2% to 0.543 billion yen, ordinary profit decreased by 27.9% to 0.548 billion yen, and net profit attributable to the parent company shareholders decreased by 27.6% to 0.36 billion yen.

In terms of construction business, sales of revenue condominiums for single-unit sales were conducted in June, earlier than initially expected. However, due to delays in the start of large-scale construction projects, revenue decreased by 29.1% to 7.454 billion yen compared to the same period last year, and operating profit decreased by 19.6% to 0.512 billion yen.

Regarding the residential business, revenue remained almost the same at a decrease of 1.1% to 5.555 billion yen. However, due to the inclusion of advertising expenses associated with the launch of new subdivision sites and expenses associated with the opening of sales offices, selling expenses and general and administrative expenses increased, resulting in an operating profit of 0.04 billion yen, a 65.5% decrease compared to the same period last year.

As for other businesses, the revenue increased by 8.8% to 0.115 billion yen due to the improvement in revenue from food and beverage businesses since COVID-19 transitioned to a low risk level. Operating profit was 0.005 billion yen (compared to a profit of 0 billion yen in the same period last year).

Concerning the consolidated performance forecast for the fiscal year ending December 2024, the initial plan is to maintain sales revenue of 28 billion yen, a 13.1% decrease compared to the previous year, operating income of 1.22 billion yen, a 7.3% decrease, ordinary profit of 1.2 billion yen, a 9.8% decrease, and net income attributable to parent company shareholders of 0.7 billion yen, a 16.6% decrease.