HIGASHIMARU CO.,LTD., First Half Ordinary Profit Increases by 5.1 times

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Wed Nov 13, 2024 2:00 pm JST Earnings

2058 HIGASHIMARU CO.,LTD. 【J-GAAP】

Earnings Report

HIGASHIMARU CO.,LTD. <2058> [FukuokaSE] announced its financial results in the afternoon session on November 13th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 5.1 times that of the same period last year, reaching 213 million yen, exceeded the previous forecast of 54 million yen.

The progress rate against the 259 million yen full-year plan was 82.2%, also surpassing the five-year average of 62.9%.

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 surge by 3.5 times that of the same period last year, reaching 46 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 2.7 times that of the same period last year, reaching 159 million yen. The operating profit margin improved from 1.2% 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	5,959	-66	29	2	0.6	29.6	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	6,346	-8	42	-25	-6.5	76.4	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	7,335	169	213	157	40.0	82.2	Nov 13, 2024	J-GAAP
YoY	+15.6%	－	+407.1%	－	－

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	6,750	12	54	1	0.3	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	7,335	169	213	157	40.0	0	Nov 13, 2024	J-GAAP
Revision Rate	+8.7%	+1,308.3%	+294.4%	+15,600.0%	+15,880.0%

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	6,664	-3	13	-79	-20.1	9	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,134	60	46	-44	-11.1	9	Nov 13, 2024	J-GAAP
YoY	-8.0%	－	+253.8%	+44.3%	+44.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	11,724	-33	98	-75	-19.2	9	May 15, 2023	J-GAAP
Mar, 2024	13,010	-11	55	-104	-26.5	9	May 13, 2024	J-GAAP
Mar, 2025 Guidance	13,469	229	259	113	28.6	9	May 13, 2024	J-GAAP
YoY	+3.5%	－	+370.9%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,424	40	60	7	1.8	1.2	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	3,837	153	137	66	16.9	4.0	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	2,827	-156	-124	-145	-36.9	-5.5	May 13, 2024	J-GAAP
Apr - Jun, 2024	3,455	16	54	101	25.7	0.5	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	3,880	153	159	56	14.3	3.9	Nov 13, 2024	J-GAAP
YoY	+13.3%	+282.5%	+165.0%	+700.0%	+678.7%