Hokuryo Co., Ltd., The Current Fiscal Year Net Income Revised Upward by 59%, Dividend Revised Upward by 14 yen

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Wed Nov 13, 2024 3:30 pm JST Earnings

1384 Hokuryo Co., Ltd. 【J-GAAP】

Earnings Report

Hokuryo Co., Ltd. <1384> [TSE-S] announced its financial results after the market closed on November 13th (15:30). The net income (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 22.2% from the same period last year to 1.01 billion yen.

However, the full-year net income has been revised upward by 58.5%, from the previous forecast of 960 million yen to 1.52 billion yen (compared to 1.65 billion yen in the previous period), and the declining rate is expected to decrease from 42.0% to 8.1%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the net income for the October to March period (second half) is expected to expand by 44.0% from the same period last year, reaching 507 million yen.

In light of the strong performance, the company has significantly increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 40 yen to 54 yen (compared to 40 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the net income grew by 19.5% from the same period last year, reaching 829 million yen. However, the operating profit margin sharply declined from 19.2% in the same period last year to 2.3%.

Kabutan News

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	8,198	618	655	452	53.5	47.4	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	9,673	1,856	1,892	1,304	154.2	81.7	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	8,898	352	388	1,015	120.0	27.1	Nov 13, 2024	J-GAAP
YoY	-8.0%	-81.0%	-79.5%	-22.2%	-22.1%

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	ー	ー	ー	ー	－	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	8,898	352	388	1,015	120.0	0	Nov 13, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	19,180	1,370	1,430	960	113.5	40	May 14, 2024	J-GAAP
Mar, 2025 New	19,180	1,370	1,430	1,522	179.9	54	Nov 13, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	+58.5%	+58.5%

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	9,228	389	424	352	41.6	40	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	10,282	1,018	1,042	507	59.9	54	Nov 13, 2024	J-GAAP
YoY	+11.4%	+161.7%	+145.8%	+44.0%	+44.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	17,823	1,318	1,383	745	88.1	20	May 12, 2023	J-GAAP
Mar, 2024	18,901	2,245	2,316	1,656	195.8	40	May 14, 2024	J-GAAP
Mar, 2025 Guidance	19,180	1,370	1,430	1,522	179.9	54	Nov 13, 2024	J-GAAP
YoY	+1.5%	-39.0%	-38.3%	-8.1%	-8.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,923	946	961	694	82.1	19.2	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	5,053	665	685	483	57.1	13.2	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	4,175	-276	-261	-131	-15.5	-6.6	May 14, 2024	J-GAAP
Apr - Jun, 2024	4,386	249	270	186	22.0	5.7	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	4,512	103	118	829	98.0	2.3	Nov 13, 2024	J-GAAP
YoY	-8.3%	-89.1%	-87.7%	+19.5%	+19.5%