HASEGAWA CO., LTD., First Half Ordinary Profit Decreases by 41%

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Tue Nov 5, 2024 3:30 pm JST Earnings

8230 HASEGAWA CO., LTD. 【J-GAAP】

Earnings Report

HASEGAWA CO., LTD. <8230> [TSE-S] announced its financial results after the market closed on November 5th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 40.6% from the same period last year to 626 million yen, fell short of the previous forecast of 800 million yen.

The progress rate against the 1.2 billion yen full-year plan was 52.2%, below the five-year average of 57.2%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to decrease by 1.7% from the same period last year to 574 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit dropped to 566 million yen, a 30.8% decrease compared to the same period last year. The operating profit margin decreased from 12.9% in the same period last year to 9.6%.

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	11,497	1,265	1,277	896	49.3	72.0	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	11,497	1,038	1,054	703	38.7	64.3	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	10,831	571	626	446	24.6	52.2	Nov 5, 2024	J-GAAP
YoY	-5.8%	-45.0%	-40.6%	-36.6%	-36.5%

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	11,700	800	800	550	30.2	7.50	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	10,831	571	626	446	24.6	7.50	Nov 5, 2024	J-GAAP
Revision Rate	-7.4%	-28.6%	-21.8%	-18.9%	-18.8%

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	9,803	574	584	356	19.6	7.50	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	11,669	679	574	354	19.5	7.50	Nov 5, 2024	J-GAAP
YoY	+19.0%	+18.3%	-1.7%	-0.6%	-0.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	21,608	1,769	1,773	1,154	63.5	11.25	May 15, 2023	J-GAAP
Mar, 2024	21,300	1,612	1,638	1,059	58.3	15	May 15, 2024	J-GAAP
Mar, 2025 Guidance	22,500	1,250	1,200	800	44.0	15	May 15, 2024	J-GAAP
YoY	+5.6%	-22.5%	-26.7%	-24.5%	-24.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,398	823	818	565	31.1	12.9	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	4,704	52	65	40	2.2	1.1	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	5,099	522	519	316	17.4	10.2	May 15, 2024	J-GAAP
Apr - Jun, 2024	4,789	-7	60	31	1.7	-0.1	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	6,042	578	566	415	22.8	9.6	Nov 5, 2024	J-GAAP
YoY	-5.6%	-29.8%	-30.8%	-26.5%	-26.5%