HAPPINET CORPORATION, First Half Ordinary Profit Increases by 36%, July-September Ordinary Profit Increases by 24%

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Tue Nov 12, 2024 4:00 pm JST Earnings

7552 HAPPINET CORPORATION 【J-GAAP】

Earnings Report

HAPPINET CORPORATION <7552> [TSE-P] announced its financial results after the market closed on November 12th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 6.66 billion yen, an increase of 35.9% compared to the same period last year. The progress rate against the 8 billion yen full-year plan was 83.3%, also surpassing the five-year average of 54.0%.

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 significant drop by 67.1% from the same period last year to 1.34 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 24.3% from the same period last year, reaching 3.18 billion yen. The operating profit margin improved from 3.2% in the same period last year to 3.8%.

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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	140,370	3,278	3,495	2,254	101.9	56.4	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	160,957	4,728	4,901	4,129	185.6	54.6	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	168,547	6,523	6,660	4,386	198.1	83.3	Nov 12, 2024	J-GAAP
YoY	+4.7%	+38.0%	+35.9%	+6.2%	+6.7%

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	165,000	6,000	6,200	4,000	182.3	25	Aug 8, 2024	J-GAAP
Apr - Sep, 2024 Results	168,547	6,523	6,660	4,386	198.1	25	Nov 12, 2024	J-GAAP
Revision Rate	+2.1%	+8.7%	+7.4%	+9.7%	+8.6%

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	189,504	3,951	4,073	2,452	110.1	100	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	161,453	1,277	1,340	614	28.0	25	Nov 12, 2024	J-GAAP
YoY	-14.8%	-67.7%	-67.1%	-75.0%	-74.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	307,253	5,842	6,194	3,561	160.8	65	May 12, 2023	J-GAAP
Mar, 2024	350,461	8,679	8,974	6,581	295.5	125	May 13, 2024	J-GAAP
Mar, 2025 Guidance	330,000	7,800	8,000	5,000	227.9	50	May 13, 2024	J-GAAP
YoY	-5.8%	-10.1%	-10.9%	-24.0%	-22.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	78,658	2,548	2,563	2,670	120.0	3.2	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	111,435	2,986	3,056	1,810	81.3	2.7	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	78,069	965	1,017	642	28.8	1.2	May 13, 2024	J-GAAP
Apr - Jun, 2024	82,358	3,278	3,474	2,388	107.2	4.0	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	86,189	3,245	3,186	1,998	90.2	3.8	Nov 12, 2024	J-GAAP
YoY	+9.6%	+27.4%	+24.3%	-25.2%	-24.8%