HONYAKU Center Inc., First Half Ordinary Profit Revised Downward to an Unexpected 2%Decrease

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Fri Nov 8, 2024 3:30 pm JST Earnings

2483 HONYAKU Center Inc. 【J-GAAP】

Earnings Report

HONYAKU Center Inc. <2483> [TSE-S] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 355 million yen, a 2.5% decrease compared to the same period last year, resulting in a decrease in profits compared to the previous forecast of a 16.8% increase.

The progress rate against the 1.08 billion yen full-year plan was 32.9%, also falling below the five-year average of 40.3%.

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 grow by 26.3% from the same period last year, reaching 725 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 180 million yen, a 3.2% decrease compared to the same period last year. However, the operating profit margin remained almost flat, changing from 6.4% in the same period last year to 6.5%.

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	5,238	389	390	259	77.8	40.6	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	5,429	350	364	236	71.0	38.8	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	5,467	352	355	232	69.4	32.9	Nov 8, 2024	J-GAAP
YoY	+0.7%	+0.6%	-2.5%	-1.7%	-2.2%

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	5,850	410	425	280	83.6	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	5,467	352	355	232	69.4	0	Nov 8, 2024	J-GAAP
Revision Rate	-6.5%	-14.1%	-16.5%	-17.1%	-17.0%

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	5,874	552	574	475	142.2	65	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,633	698	725	488	145.7	75	Nov 8, 2024	J-GAAP
YoY	+12.9%	+26.4%	+26.3%	+2.7%	+2.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	10,947	928	960	686	205.9	45	May 11, 2023	J-GAAP
Mar, 2024	11,303	902	938	711	212.9	65	May 13, 2024	J-GAAP
Mar, 2025 Guidance	12,100	1,050	1,080	720	214.9	75	May 13, 2024	J-GAAP
YoY	+7.1%	+16.4%	+15.1%	+1.3%	+1.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,851	183	186	119	35.8	6.4	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	2,894	228	233	164	49.1	7.9	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	2,980	324	341	311	93.1	10.9	May 13, 2024	J-GAAP
Apr - Jun, 2024	2,715	173	175	112	33.7	6.4	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	2,752	179	180	120	35.9	6.5	Nov 8, 2024	J-GAAP
YoY	-3.5%	-2.2%	-3.2%	+0.8%	+0.3%