HIRAGA CO., LTD., First Half Ordinary Profit Unexpectedly Revised Upward by 33%

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Fri Nov 8, 2024 3:30 pm JST Earnings

7863 HIRAGA CO., LTD. 【J-GAAP】

Earnings Report

HIRAGA CO., LTD. <7863> [TSE-S] announced its financial results after the market closed on November 8th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 280 million yen, an increase of 32.7% compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 2.8% decrease.

The progress rate against the 570 million yen full-year plan was 49.1%, 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 18.1% from the same period last year to 290 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit increased by 33.7% from the same period last year, reaching 123 million yen. The operating profit margin improved from 3.1% in the same period last year to 4.4%.

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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	4,306	204	240	200	69.3	45.9	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	4,740	172	211	143	49.8	37.3	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	4,855	244	280	190	66.3	49.1	Nov 8, 2024	J-GAAP
YoY	+2.4%	+41.9%	+32.7%	+32.9%	+33.0%

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	4,800	165	205	145	50.4	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	4,855	244	280	190	66.3	0	Nov 8, 2024	J-GAAP
Revision Rate	+1.1%	+47.9%	+36.6%	+31.0%	+31.6%

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	5,214	322	354	422	146.3	40	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	5,445	256	290	210	73.0	40	Nov 8, 2024	J-GAAP
YoY	+4.4%	-20.5%	-18.1%	-50.2%	-50.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	9,010	458	523	395	136.7	30	May 12, 2023	J-GAAP
Mar, 2024	9,954	494	565	565	195.9	40	May 10, 2024	J-GAAP
Mar, 2025 Guidance	10,300	500	570	400	139.0	40	May 10, 2024	J-GAAP
YoY	+3.5%	+1.2%	+0.9%	-29.2%	-29.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,351	73	92	63	22.0	3.1	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	2,817	230	250	170	59.0	8.2	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	2,397	92	104	252	87.4	3.8	May 10, 2024	J-GAAP
Apr - Jun, 2024	2,421	137	157	107	37.3	5.7	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	2,434	107	123	83	29.0	4.4	Nov 8, 2024	J-GAAP
YoY	+3.5%	+46.6%	+33.7%	+31.7%	+31.9%