Harima-Kyowa Co.,LTD., First Half Ordinary Profit Unexpectedly Revised Upward by 8%

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Mon Nov 11, 2024 4:00 pm JST Earnings

7444 Harima-Kyowa Co.,LTD. 【J-GAAP】

Earnings Report

Harima-Kyowa Co.,LTD. <7444> [TSE-S] announced its financial results after the market closed on November 11th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 7.5% from the same period last year, reaching 1.15 billion yen, resulting in an increase in profits compared to the previous forecast of a 2.6% decrease.

The progress rate against the 2.1 billion yen full-year plan was 55.2%, almost the same as the five-year average of 56.3%.

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 decrease by 3.3% from the same period last year to 941 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 530 million yen, a 4.3% decrease compared to the same period last year. However, the operating profit margin remained almost flat, changing from 3.0% in the same period last year to 3.3%.

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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	30,776	939	1,115	745	138.7	55.4	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	31,645	924	1,078	713	132.8	52.6	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	33,388	1,100	1,159	767	142.7	55.2	Nov 11, 2024	J-GAAP
YoY	+5.5%	+19.0%	+7.5%	+7.6%	+7.4%

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	32,200	930	1,050	730	135.6	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	33,388	1,100	1,159	767	142.7	0	Nov 11, 2024	J-GAAP
Revision Rate	+3.7%	+18.3%	+10.4%	+5.1%	+5.2%

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	29,938	899	973	693	129.0	45	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	29,112	780	941	683	126.9	50	Nov 11, 2024	J-GAAP
YoY	-2.8%	-13.2%	-3.3%	-1.4%	-1.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	60,156	1,777	2,013	1,391	258.9	41	May 12, 2023	J-GAAP
Mar, 2024	61,583	1,823	2,051	1,406	261.7	45	May 14, 2024	J-GAAP
Mar, 2025 Guidance	62,500	1,880	2,100	1,450	269.3	50	May 14, 2024	J-GAAP
YoY	+1.5%	+3.1%	+2.4%	+3.1%	+2.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	15,683	468	554	384	71.5	3.0	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	15,124	435	465	320	59.6	2.9	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	14,814	464	508	373	69.4	3.1	May 14, 2024	J-GAAP
Apr - Jun, 2024	17,087	569	629	404	75.3	3.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	16,301	531	530	363	67.5	3.3	Nov 11, 2024	J-GAAP
YoY	+3.9%	+13.5%	-4.3%	-5.5%	-5.6%