HOGY MEDICAL CO.,LTD., First Half Ordinary Profit Decreases by 14%, July-Septembe Ordinary Profit Decreases by 45%

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Thu Oct 10, 2024 3:00 pm JST Earnings

3593 HOGY MEDICAL CO.,LTD. 【J-GAAP】

Earnings Report

HOGY MEDICAL CO.,LTD. <3593> [TSE-P] announced its financial results after the market closed on October 10th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 14.2% from the same period last year to 2.03 billion yen. The progress rate against the 4.8 billion yen full-year plan was 42.4%, also falling below the five-year average of 49.2%.

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 October to March period (second half) is expected to expand by 47.6% from the same period last year, reaching 2.76 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 631 million yen, a 44.8% decrease compared to the same period last year. The operating profit margin significantly dropped from 10.9% in the same period last year to 7.6%.

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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
Apr - Sep, 2022	19,201	3,185	3,162	2,232	92.1	47.5	Oct 13, 2022	J-GAAP
Apr - Sep, 2023	19,536	2,375	2,373	1,732	71.4	55.9	Oct 12, 2023	J-GAAP
Apr - Sep, 2024	19,619	2,083	2,036	1,867	80.6	42.4	Oct 10, 2024	J-GAAP
YoY	+0.4%	-12.3%	-14.2%	+7.8%	+12.9%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	20,110	1,940	2,030	1,440	66.8	40	Apr 10, 2024	J-GAAP
Apr - Sep, 2024 Results	19,619	2,083	2,036	1,867	80.6	40	Oct 10, 2024	J-GAAP
Revision Rate	-2.4%	+7.4%	+0.3%	+29.7%	+20.6%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	19,564	1,794	1,872	1,072	44.2	40	Apr 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	21,231	2,607	2,764	1,443	66.9	40	Oct 10, 2024	J-GAAP
YoY	+8.5%	+45.3%	+47.6%	+34.6%	+51.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	38,981	6,634	6,653	4,316	178.0	71	Apr 12, 2023	J-GAAP
Mar, 2024	39,100	4,169	4,245	2,804	115.6	80	Apr 10, 2024	J-GAAP
Mar, 2025 Guidance	40,850	4,690	4,800	3,310	153.5	80	Apr 10, 2024	J-GAAP
YoY	+4.5%	+12.5%	+13.1%	+18.0%	+32.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	9,857	1,073	1,143	846	34.9	10.9	Oct 12, 2023	J-GAAP
Oct - Dec, 2023	10,218	1,112	1,214	877	36.2	10.9	Jan 16, 2024	J-GAAP
Jan - Mar, 2024	9,346	682	658	195	8.0	7.3	Apr 10, 2024	J-GAAP
Apr - Jun, 2024	9,725	1,335	1,405	1,006	41.5	13.7	Jul 10, 2024	J-GAAP
Jul - Sep, 2024	9,894	748	631	861	37.2	7.6	Oct 10, 2024	J-GAAP
YoY	+0.4%	-30.3%	-44.8%	+1.8%	+6.5%