HAGIHARA INDUSTRIES INC., 3Q (May-July) Ordinary Profit Decreases by 15%

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Mon Sep 9, 2024 3:00 pm JST Earnings

7856 HAGIHARA INDUSTRIES INC. 【J-GAAP】

Earnings Report

HAGIHARA INDUSTRIES INC. <7856> [TSE-P] announced its financial results after the market closed on September 9th (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending October 2024 (November 2023 to July 2024) increased by 13.5% from the same period last year, reaching 1.89 billion yen. This progress accounts for 82.3% of the full-year plan of 2.3 billion yen, also surpassing the five-year average of 76.4%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the August to October period (4Q) is expected to drop by 30.0% from the same period last year to 408 million yen.

In the most recent three-month period, from May to July (3Q), the consolidated ordinary profit decreased to 487 million yen, a 15.5% decrease compared to the same period last year. The operating profit margin worsened from 5.8% in the same period last year to 5.0%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Nov - Jul, 2021	22,079	1,019	1,231	584	40.5	73.2	Sep 12, 2022	J-GAAP
Nov - Jul, 2022	23,237	1,434	1,667	2,870	205.2	74.1	Sep 11, 2023	J-GAAP
Nov - Jul, 2023	24,408	1,720	1,935	1,289	94.0	84.1	Sep 9, 2024	J-GAAP
YoY	+5.0%	+19.9%	+16.1%	-55.1%	-54.2%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May - Oct, 2023	15,315	969	1,159	872	62.4	25	Dec 11, 2023	J-GAAP
May - Oct, 2024 Guidance	15,626	901	868	620	45.2	25	Jun 10, 2024	J-GAAP
YoY	+2.0%	-7.0%	-25.1%	-28.9%	-27.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct, 2022	29,953	1,377	1,681	943	65.9	36	Dec 12, 2022	J-GAAP
Oct, 2023	31,245	1,979	2,250	3,118	223.1	50	Dec 11, 2023	J-GAAP
Oct, 2024 Guidance	32,000	2,200	2,300	1,600	116.7	50	Dec 11, 2023	J-GAAP
YoY	+2.4%	+11.2%	+2.2%	-48.7%	-47.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	7,307	424	576	624	44.6	5.8	Sep 11, 2023	J-GAAP
Aug - Oct, 2023	8,008	545	583	248	17.7	6.8	Dec 11, 2023	J-GAAP
Nov - Jan, 2023	8,111	643	646	431	30.7	7.9	Mar 11, 2024	J-GAAP
Feb - Apr, 2024	8,263	656	786	549	39.2	7.9	Jun 10, 2024	J-GAAP
May - Jul, 2024	8,034	421	503	309	22.5	5.2	Sep 9, 2024	J-GAAP
YoY	+9.9%	-0.7%	-12.7%	-50.5%	-49.5%