HOKUETSU METAL Co.,Ltd., First Half Ordinary Profit Unexpectedly Revised Upward by 4%

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Fri Nov 1, 2024 4:00 pm JST Earnings

5446 HOKUETSU METAL Co.,Ltd. 【J-GAAP】

Earnings Report

HOKUETSU METAL Co.,Ltd. <5446> [TSE-S] announced its financial results after the market closed on November 1st (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 4.2% from the same period last year, reaching 350 million yen, resulting in an increase in profits compared to the previous forecast of a 25.6% decrease.

However, The progress rate against the 650 million yen full-year plan was 53.8%, it was below the five-year average of 60.7%.

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 decrease by 6.3% from the same period last year to 300 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 169 million yen, a 10.1% decrease compared to the same period last year. The operating profit margin worsened from 2.4% in the same period last year to 1.9%.

Kabutan News

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	15,345	498	541	438	114.2	47.8	Nov 2, 2022	J-GAAP
Apr - Sep, 2023	15,424	278	336	217	56.5	51.2	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	15,578	276	350	199	51.8	53.8	Nov 1, 2024	J-GAAP
YoY	+1.0%	-0.7%	+4.2%	-8.3%	-8.3%

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	15,500	200	250	150	39.0	10	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	15,578	276	350	199	51.8	10	Nov 1, 2024	J-GAAP
Revision Rate	+0.5%	+38.0%	+40.0%	+32.7%	+32.9%

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	16,399	250	320	250	65.1	5	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	16,422	324	300	201	52.2	25	Nov 1, 2024	J-GAAP
YoY	+0.1%	+29.6%	-6.3%	-19.6%	-19.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	31,041	1,040	1,132	1,011	263.4	85	May 10, 2023	J-GAAP
Mar, 2024	31,823	528	656	467	121.6	35	May 10, 2024	J-GAAP
Mar, 2025 Guidance	32,000	600	650	400	103.9	35	May 10, 2024	J-GAAP
YoY	+0.6%	+13.6%	-0.9%	-14.3%	-14.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,579	179	188	113	29.4	2.4	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	8,662	245	280	194	50.5	2.8	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	7,737	5	40	56	14.6	0.1	May 10, 2024	J-GAAP
Apr - Jun, 2024	8,019	130	181	99	25.9	1.6	Aug 1, 2024	J-GAAP
Jul - Sep, 2024	7,559	146	169	100	26.0	1.9	Nov 1, 2024	J-GAAP
YoY	-0.3%	-18.4%	-10.1%	-11.5%	-11.5%