HIROSE ELECTRIC CO.,LTD., The Current Fiscal Year Net Income Revised Upward by 7%

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Fri Nov 1, 2024 4:00 pm JST Earnings

6806 HIROSE ELECTRIC CO.,LTD. 【IFRS】

Earnings Report

HIROSE ELECTRIC CO.,LTD. <6806> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 1st (16:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 17.5 billion yen, an increase of 39.2% compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 4.7% decrease.

In addition, the full-year consolidated net income has been revised upward by 7.1%, from the previous forecast of 28 billion yen to 30 billion yen (compared to 26.4 billion yen in the previous period), increasing the growth rate from 5.7% to 13.3%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease by 10.2% from the same period last year to 12.4 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income increased by 38.8% from the same period last year, reaching 9.12 billion yen. The operating profit margin rose from 19.2% in the same period last year to 24.1%.

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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
Apr - Sep, 2022	94,704	27,170	29,247	20,636	594.2	60.2	Nov 2, 2022	IFRS
Apr - Sep, 2023	82,910	17,191	19,680	12,597	365.9	50.8	Nov 1, 2023	IFRS
Apr - Sep, 2024	94,519	22,216	23,846	17,531	518.2	58.2	Nov 1, 2024	IFRS
YoY	+14.0%	+29.2%	+21.2%	+39.2%	+41.6%

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	83,000	16,000	17,000	12,000	354.7	245	May 7, 2024	IFRS
Apr - Sep, 2024 Results	94,519	22,216	23,846	17,531	518.2	245	Nov 1, 2024	IFRS
Revision Rate	+13.9%	+38.9%	+40.3%	+46.1%	+46.1%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	176,000	36,000	39,000	28,000	827.5	490	May 7, 2024	IFRS
Mar, 2025 New	182,000	38,000	41,000	30,000	886.6	490	Nov 1, 2024	IFRS
Revision Rate	+3.4%	+5.6%	+5.1%	+7.1%	+7.1%

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	82,599	16,826	19,081	13,883	405.0	220	May 7, 2024	IFRS
Oct - Mar, 2024 Guidance	87,481	15,784	17,154	12,469	368.5	245	Nov 1, 2024	IFRS
YoY	+5.9%	-6.2%	-10.1%	-10.2%	-9.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	183,224	46,751	48,591	34,648	1,002.0	500	May 8, 2023	IFRS
Mar, 2024	165,509	34,017	38,761	26,480	772.4	440	May 7, 2024	IFRS
Mar, 2025 Guidance	182,000	38,000	41,000	30,000	886.6	490	Nov 1, 2024	IFRS
YoY	+10.0%	+11.7%	+5.8%	+13.3%	+14.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	42,455	8,134	9,028	6,576	191.0	19.2	Nov 1, 2023	IFRS
Oct - Dec, 2023	42,252	10,040	10,954	8,117	235.9	23.8	Feb 1, 2024	IFRS
Jan - Mar, 2024	40,347	6,786	8,127	5,766	168.2	16.8	May 7, 2024	IFRS
Apr - Jun, 2024	44,871	10,261	11,842	8,404	248.4	22.9	Aug 1, 2024	IFRS
Jul - Sep, 2024	49,648	11,955	12,004	9,127	269.8	24.1	Nov 1, 2024	IFRS
YoY	+16.9%	+47.0%	+33.0%	+38.8%	+41.2%