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HARD OFF CORPORATION Co.,Ltd., First Half Ordinary Profit Increases by 36%, July-September Ordinary Profit Increases by 33%

Thu Nov 7, 2024 2:00 pm JST Earnings

2674 HARD OFF CORPORATION Co.,Ltd. 【J-GAAP】

Earnings Report

HARD OFF CORPORATION Co.,Ltd. <2674> [TSE-P] announced its financial results in the afternoon session on November 7th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 1.63 billion yen, an increase of 36.5% compared to the same period last year. The progress rate against the 3.28 billion yen full-year plan was 50.0%, exceeding the five-year average of 41.5%.

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 8.3% from the same period last year to 1.64 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 33.0% from the same period last year, reaching 620 million yen. The operating profit margin improved from 5.8% in the same period last year to 7.2%.

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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 12,968 1,054 1,145 738 53.2 45.6 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 14,177 1,083 1,201 757 54.5 40.2 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 16,165 1,532 1,639 1,021 73.5 50.0 Nov 7, 2024 J-GAAP
YoY +14.0% +41.5% +36.5% +34.9% +34.9%

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 15,600 1,370 1,462 900 64.8 0 May 9, 2024 J-GAAP
Apr - Sep, 2024 Results 16,165 1,532 1,639 1,021 73.5 0 Nov 7, 2024 J-GAAP
Revision Rate +3.6% +11.8% +12.1% +13.4% +13.5%

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 15,928 1,720 1,789 1,336 96.1 76 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 16,585 1,618 1,641 1,099 79.1 76 Nov 7, 2024 J-GAAP
YoY +4.1% -5.9% -8.3% -17.7% -17.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 27,040 2,312 2,510 1,653 119.1 60 May 11, 2023 J-GAAP
Mar, 2024 30,105 2,803 2,990 2,093 150.6 76 May 9, 2024 J-GAAP
Mar, 2025 Guidance 32,750 3,150 3,280 2,120 152.6 76 May 9, 2024 J-GAAP
YoY +8.8% +12.4% +9.7% +1.3% +1.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 7,000 405 466 273 19.7 5.8 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 7,875 946 990 596 42.9 12.0 Feb 7, 2024 J-GAAP
Jan - Mar, 2024 8,053 774 799 740 53.3 9.6 May 9, 2024 J-GAAP
Apr - Jun, 2024 8,282 967 1,019 667 48.0 11.7 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 7,883 565 620 354 25.5 7.2 Nov 7, 2024 J-GAAP
YoY +12.6% +39.5% +33.0% +29.7% +29.7%

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