Mimaki reports strong sales and profit growth for last quarter

Mimaki has issued a statement announcing the financial results for the last quarter.

Overview of the Operating Results:  

During the nine months ended December 31, 2024, the global economy showed a moderate recovery, though core inflation remained high, and economic conditions varied across regions. North America maintained strong growth driven by personal consumption, while Europe experienced stagnation due to the prolonged Ukraine crisis. Japan’s economy continued its gradual recovery, with firm capital investment despite sluggish personal consumption.

The Company and its subsidiaries focused on executing priority measures under the “Mimaki V10” growth strategy. Key initiatives included launching new products, responding to market changes, and strengthening profitability. In the third quarter, notable developments included:

Sign Graphics (SG) Market: Introduction of a wallpaper sheet with an adhesive layer.

Textile & Apparel (TA) Market: Collaboration on the "Neo-Chromato Process" to support sustainable recycling.

Manufacturing Expansion: New building construction at the Kazawa Factory to address development space shortages.

Community Engagement: Hosting of the Mimaki Festival.

Financial Performance

Net Sales: ¥61,374 million (up 11.9% YoY)

Operating Profit: ¥7,423 million (up 88.1% YoY)

Ordinary Profit: ¥6,854 million (up 100.5% YoY)

Profit Attributable to Owners of Parent: ¥4,944 million (up 102.8% YoY)

Despite rising ocean freight costs, profitability improved due to reduced reliance on high-cost materials and better ink management. Exchange rate fluctuations also positively impacted financial performance.

Segment Performance

By Region

Japan, Asia & Oceania: ¥27,149 million (up 9.6% YoY)
Strong SG market growth, increased ink sales, and strong semiconductor equipment sales.
FA equipment sales declined compared to the previous year.

North & Latin America: ¥18,390 million (up 18.3% YoY)
Strong SG and TA market growth, especially DTF model sales.
Strong IP market growth, particularly small flatbed (FB) models.

Europe, Middle East & Africa: ¥15,834 million (up 9.2% YoY)
Strong SG and TA market performance.
Recovery in printer sales in the IP market.
Significant sales increase in Germany and other major European markets.

By Market

SG Market: ¥24,996 million (up 15.6%)
Significant increase in printer and ink sales, especially flagship UV ink models.

IP Market: ¥15,997 million (up 8.9%)
Strong performance in large and small FB printer models and ink sales.

TA Market: ¥7,835 million (up 17.6%)
Continued growth of DTF models and increased ink sales.

FA Business: ¥3,084 million (down 8.0%)
Strong semiconductor equipment sales but declining FA equipment sales.

Overall, the Company experienced robust sales growth across key regions and markets, with strong contributions from its flagship UV ink models and DTF printers.