HASEKO Corporation, First Half Ordinary Profit Decreases by 16%

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Tue Nov 12, 2024 3:30 pm JST Earnings

1808 HASEKO Corporation 【J-GAAP】

Earnings Report

HASEKO Corporation <1808> [TSE-P] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 16.2% from the same period last year to 36.2 billion yen. The progress rate against the 80 billion yen full-year plan was 45.3%, almost the same as the five-year average of 47.2%.

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 9.1% from the same period last year, reaching 43.7 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 20.7 billion yen, an increase of 1.2% compared to the same period last year. The operating profit margin remained almost flat, changing from 8.0% in the same period last year to 8.1%.

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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	446,448	37,704	36,569	24,734	90.0	41.4	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	523,006	43,276	43,260	28,703	105.2	51.9	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	558,754	35,429	36,273	19,373	71.0	45.3	Nov 12, 2024	J-GAAP
YoY	+6.8%	-18.1%	-16.2%	-32.5%	-32.6%

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	530,000	29,000	30,000	20,000	73.3	40	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	558,754	35,429	36,273	19,373	71.0	40	Nov 12, 2024	J-GAAP
Revision Rate	+5.4%	+22.2%	+20.9%	-3.1%	-3.1%

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	571,415	42,471	40,074	27,335	100.2	45	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	621,246	46,571	43,727	33,627	123.2	45	Nov 12, 2024	J-GAAP
YoY	+8.7%	+9.7%	+9.1%	+23.0%	+22.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,027,277	90,162	88,265	59,326	216.1	80	May 11, 2023	J-GAAP
Mar, 2024	1,094,421	85,747	83,334	56,038	205.5	85	May 10, 2024	J-GAAP
Mar, 2025 Guidance	1,180,000	82,000	80,000	53,000	194.1	85	May 10, 2024	J-GAAP
YoY	+7.8%	-4.4%	-4.0%	-5.4%	-5.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	259,087	20,703	20,530	13,708	50.3	8.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	245,846	18,163	17,222	10,890	39.9	7.4	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	325,569	24,308	22,852	16,445	60.3	7.5	May 10, 2024	J-GAAP
Apr - Jun, 2024	284,774	13,262	15,493	10,843	39.7	4.7	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	273,980	22,167	20,780	8,530	31.3	8.1	Nov 12, 2024	J-GAAP
YoY	+5.7%	+7.1%	+1.2%	-37.8%	-37.8%