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

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%

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