Mandarake posted robust financial results for the third quarter ending September 2024, with sales climbing 13.8% year-on-year to ¥10.845 billion. The company reported a 16.7% increase in both operating and ordinary profits, reaching ¥1.719 billion and ¥1.699 billion, respectively. Net profit rose by 17.3% to ¥1.15 billion.
The company’s strategy of diversifying its product offerings—from the latest releases to rare collectibles—has paid off, bolstering its market presence both in physical stores and online. The newly opened Mandarake Kyoto Store and the continued success of online platforms, particularly Mandarake SAHRA, contributed significantly to these results. The company’s online auctions also attracted a global audience, further enhancing its sales performance.
Looking ahead, Mandarake has raised its profit expectations for the full fiscal year ending September 2024. The company now anticipates sales of ¥13.481 billion, a 5.0% increase from the previous year, and a 7.3% rise in operating profit to ¥2.011 billion. Ordinary profit is forecast to reach ¥1.986 billion, with net profit expected to grow by 7.2% to ¥1.338 billion.
As of Q3, Mandarake has already achieved over 80% of its annual sales target, with profit metrics exceeding 85% of the full-year forecast, signaling a strong finish for the fiscal year.
