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HEIAN CEREMONY SERVICE CO.,LTD., First Half Net Income Increases by 71%, July-September Net Income Increases by 2.9 times

Thu Nov 7, 2024 3:30 pm JST Earnings

2344 HEIAN CEREMONY SERVICE CO.,LTD. 【J-GAAP】

Earnings Report

HEIAN CEREMONY SERVICE CO.,LTD. <2344> [TSE-S] announced its financial results after the market closed on November 7th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 479 million yen, an increase of 71.1% compared to the same period last year. However, The progress rate against the 1.25 billion yen full-year plan was 38.2%, almost the same as the five-year average of 39.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 27.3% from the same period last year, reaching 774 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income surged to 2.9 times that of the same period last year, reaching 243 million yen. However, the operating profit margin decreased from 13.6% in the same period last year to 11.6%.

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 4,585 611 677 435 35.6 41.6 Nov 7, 2022 J-GAAP
Apr - Sep, 2023 4,653 600 670 280 23.0 38.0 Nov 7, 2023 J-GAAP
Apr - Sep, 2024 4,937 604 670 479 40.0 35.0 Nov 7, 2024 J-GAAP
YoY +6.1% +0.7% 0.0% +71.1% +73.9%

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 4,846 627 706 461 38.5 16 May 7, 2024 J-GAAP
Apr - Sep, 2024 Results 4,937 604 670 479 40.0 16 Nov 7, 2024 J-GAAP
Revision Rate +1.9% -3.7% -5.1% +3.9% +4.1%

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 5,428 1,031 1,092 608 50.2 16 May 7, 2024 J-GAAP
Oct - Mar, 2024 Guidance 5,452 1,155 1,246 774 64.6 17 Nov 7, 2024 J-GAAP
YoY +0.4% +12.0% +14.1% +27.3% +28.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 9,669 1,492 1,627 1,053 86.3 28 May 8, 2023 J-GAAP
Mar, 2024 10,081 1,631 1,762 888 73.3 30 May 7, 2024 J-GAAP
Mar, 2025 Guidance 10,389 1,759 1,916 1,253 104.6 33 May 7, 2024 J-GAAP
YoY +3.1% +7.8% +8.7% +41.1% +42.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,403 328 367 83 6.8 13.6 Nov 7, 2023 J-GAAP
Oct - Dec, 2023 2,671 500 528 358 29.4 18.7 Feb 7, 2024 J-GAAP
Jan - Mar, 2024 2,757 531 564 250 20.6 19.3 May 7, 2024 J-GAAP
Apr - Jun, 2024 2,464 318 352 236 19.7 12.9 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 2,473 286 318 243 20.3 11.6 Nov 7, 2024 J-GAAP
YoY +2.9% -12.8% -13.4% +192.8% +197.4%

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