HEIWADO CO.,LTD., June-August (2Q) Ordinary Profit Decreases by 4%

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Thu Oct 3, 2024 1:30 pm JST Earnings

8276 HEIWADO CO.,LTD. 【J-GAAP】

Earnings Report

HEIWADO CO.,LTD. <8276> [TSE-P] announced its financial results in the afternoon session on October 3rd (13:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) was 7.07 billion yen, a 2.2% increase compared to the same period last year. However, The progress rate against the 14.7 billion yen full-year plan was 48.1%, almost the same as the five-year average of 45.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to nearly flat of 0.8% from the same period last year, reaching 7.63 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 3.85 billion yen, a 3.6% decrease compared to the same period last year. The operating profit margin worsened from 3.5% in the same period last year to 3.1%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Mar - Aug, 2022	203,210	4,825	5,567	2,982	56.9	42.6	Sep 29, 2022	J-GAAP
Mar - Aug, 2023	207,960	6,386	6,916	4,129	78.7	47.8	Sep 28, 2023	J-GAAP
Mar - Aug, 2024	216,645	6,306	7,070	4,564	88.2	48.1	Oct 3, 2024	J-GAAP
YoY	+4.2%	-1.3%	+2.2%	+10.5%	+12.0%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar - Aug, 2024 Guidance	217,000	6,800	7,300	4,800	93.3	30	Apr 4, 2024	J-GAAP
Mar - Aug, 2024 Results	216,645	6,306	7,070	4,564	88.2	30	Oct 3, 2024	J-GAAP
Revision Rate	-0.2%	-7.3%	-3.2%	-4.9%	-5.4%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	217,464	6,871	7,566	2,655	50.6	23	Apr 4, 2024	J-GAAP
Sep - Feb, 2024 Guidance	227,355	7,394	7,630	4,536	89.2	30	Oct 3, 2024	J-GAAP
YoY	+4.5%	+7.6%	+0.8%	+70.8%	+76.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	415,675	11,279	13,069	7,516	143.3	42	Apr 4, 2023	J-GAAP
Feb, 2024	425,424	13,257	14,482	6,784	129.4	42	Apr 4, 2024	J-GAAP
Feb, 2025 Guidance	444,000	13,700	14,700	9,100	178.9	60	Apr 4, 2024	J-GAAP
YoY	+4.4%	+3.3%	+1.5%	+34.1%	+38.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	107,055	3,791	4,001	2,557	48.8	3.5	Sep 28, 2023	J-GAAP
Sep - Nov, 2023	104,538	1,889	2,205	1,271	24.2	1.8	Dec 28, 2023	J-GAAP
Dec - Feb, 2023	112,926	4,982	5,361	1,384	26.4	4.4	Apr 4, 2024	J-GAAP
Mar - May, 2024	105,278	2,833	3,213	2,006	38.6	2.7	Jun 27, 2024	J-GAAP
Jun - Aug, 2024	111,367	3,473	3,857	2,558	49.4	3.1	Oct 3, 2024	J-GAAP
YoY	+4.0%	-8.4%	-3.6%	+0.0%	+1.4%