HIP CORPORATION, First Half Ordinary Profit Unexpectedly Revised Upward by 5%

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Wed Nov 6, 2024 4:30 pm JST Earnings

2136 HIP CORPORATION 【J-GAAP】

Earnings Report

HIP CORPORATION <2136> [TSE-S] announced its financial results after the market closed on November 6th (16:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 5.5% from the same period last year, reaching 270 million yen, resulting in an increase in profits compared to the previous forecast of a 10.5% decrease.

The progress rate against the 551 million yen full-year plan was 49.0%, exceeding the five-year average of 44.3%.

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 4.4% from the same period last year to 281 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit amounted to 129 million yen, an increase of 0.8% compared to the same period last year. However, the operating profit margin worsened from 9.2% in the same period last year to 8.7%.

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	2,689	270	284	194	48.9	48.0	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	2,813	257	256	224	56.4	46.5	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	2,935	271	270	184	47.1	49.0	Nov 6, 2024	J-GAAP
YoY	+4.3%	+5.4%	+5.5%	-17.9%	-16.6%

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	2,880	230	229	154	39.2	0	May 8, 2024	J-GAAP
Apr - Sep, 2024 Results	2,935	271	270	184	47.1	0	Nov 6, 2024	J-GAAP
Revision Rate	+1.9%	+17.8%	+17.9%	+19.5%	+20.1%

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	2,847	297	294	164	41.4	50	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	2,947	283	281	188	48.4	51	Nov 6, 2024	J-GAAP
YoY	+3.5%	-4.7%	-4.4%	+14.6%	+16.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	5,475	577	592	401	101.0	40	May 10, 2023	J-GAAP
Mar, 2024	5,660	554	550	388	97.9	50	May 8, 2024	J-GAAP
Mar, 2025 Guidance	5,882	554	551	372	95.8	51	May 8, 2024	J-GAAP
YoY	+3.9%	0.0%	+0.2%	-4.1%	-2.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,399	129	128	137	34.5	9.2	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	1,466	198	198	111	28.0	13.5	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	1,381	99	96	53	13.4	7.2	May 8, 2024	J-GAAP
Apr - Jun, 2024	1,458	142	141	96	24.7	9.7	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	1,477	129	129	88	22.5	8.7	Nov 6, 2024	J-GAAP
YoY	+5.6%	0.0%	+0.8%	-35.8%	-34.7%