HOCHIKI CORPORATION, First Half Ordinary Profit Increases by 59%, July-September Ordinary Profit Increases by 22%

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Wed Nov 6, 2024 3:30 pm JST Earnings

6745 HOCHIKI CORPORATION 【J-GAAP】

Earnings Report

HOCHIKI CORPORATION <6745> [TSE-P] announced its financial results after the market closed on November 6th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 3.36 billion yen, an increase of 59.5% compared to the same period last year. The progress rate against the 7.8 billion yen full-year plan was 43.1%, exceeding the five-year average of 23.6%.

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 21.8% from the same period last year to 4.43 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 22.1% from the same period last year, reaching 2.48 billion yen. The operating profit margin significantly improved from 8.4% in the same period last year to 11.7%.

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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	37,662	635	1,060	841	33.6	18.1	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	41,568	1,787	2,109	1,512	60.9	27.1	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	45,531	3,376	3,363	2,284	92.0	43.1	Nov 6, 2024	J-GAAP
YoY	+9.5%	+88.9%	+59.5%	+51.1%	+51.0%

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	45,500	3,300	3,300	2,200	88.6	29	Oct 31, 2024	J-GAAP
Apr - Sep, 2024 Results	45,531	3,376	3,363	2,284	92.0	29	Nov 6, 2024	J-GAAP
Revision Rate	+0.1%	+2.3%	+1.9%	+3.8%	+3.8%

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	51,917	5,588	5,673	4,149	167.3	32.50	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	49,469	4,224	4,437	3,416	137.4	29	Nov 6, 2024	J-GAAP
YoY	-4.7%	-24.4%	-21.8%	-17.7%	-17.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	85,457	5,590	5,857	4,422	176.7	51	May 10, 2023	J-GAAP
Mar, 2024	93,485	7,375	7,782	5,661	228.2	58	May 8, 2024	J-GAAP
Mar, 2025 Guidance	95,000	7,600	7,800	5,700	229.2	58	May 8, 2024	J-GAAP
YoY	+1.6%	+3.1%	+0.2%	+0.7%	+0.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	23,364	1,951	2,034	1,425	57.4	8.4	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	24,721	2,880	2,789	1,955	78.8	11.7	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	27,196	2,708	2,884	2,194	88.5	10.0	May 8, 2024	J-GAAP
Apr - Jun, 2024	20,879	498	879	568	22.9	2.4	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	24,652	2,878	2,484	1,716	69.1	11.7	Nov 6, 2024	J-GAAP
YoY	+5.5%	+47.5%	+22.1%	+20.4%	+20.4%