SHINDEN HIGHTEX CORPORATION, First Half Ordinary Profit Turns to Profit

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Mon Nov 11, 2024 3:00 pm JST Earnings

3131 SHINDEN HIGHTEX CORPORATION 【J-GAAP】

Earnings Report

SHINDEN HIGHTEX CORPORATION <3131> [TSE-S] announced its financial results in the afternoon session on November 11th (15:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a profit of 421 million yen (compared to a loss of 178 million yen in the same period last year). However, The progress rate against the 1.25 billion yen full-year plan was 33.7%, also falling below the five-year average of 60.2%.

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 22.5% from the same period last year, reaching 829 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 5.0% from the same period last year, reaching 439 million yen. However, the operating profit margin worsened from 5.1% in the same period last year to 3.9%.

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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	22,771	1,253	497	341	168.2	38.2	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	20,159	206	-178	-134	-68.6	ー	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	21,563	699	421	291	147.5	33.7	Nov 11, 2024	J-GAAP
YoY	+7.0%	+239.3%	－	－	－

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	ー	ー	ー	ー	－	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	21,563	699	421	291	147.5	0	Nov 11, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	22,126	978	677	426	216.3	60	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	21,837	1,001	829	559	296.5	125	Nov 11, 2024	J-GAAP
YoY	-1.3%	+2.4%	+22.5%	+31.2%	+37.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	41,924	2,242	1,302	897	448.8	135	May 11, 2023	J-GAAP
Mar, 2024	42,285	1,184	499	292	148.3	60	May 10, 2024	J-GAAP
Mar, 2025 Guidance	43,400	1,700	1,250	850	450.8	125	May 10, 2024	J-GAAP
YoY	+2.6%	+43.6%	+150.5%	+191.1%	+204.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	10,374	531	418	282	144.4	5.1	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	11,796	671	638	443	225.2	5.7	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	10,330	307	39	-17	-8.6	3.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	9,525	227	-18	-4	-2.1	2.4	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	12,038	472	439	295	149.5	3.9	Nov 11, 2024	J-GAAP
YoY	+16.0%	-11.1%	+5.0%	+4.6%	+3.5%