Hayashikane Sangyo Co., Ltd., First Half Ordinary Profit Decreases by 57%, July-September Ordinary Profit Decreases by 28%

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Wed Nov 13, 2024 3:30 pm JST Earnings

2286 Hayashikane Sangyo Co., Ltd. 【J-GAAP】

Earnings Report

Hayashikane Sangyo Co., Ltd. <2286> [TSE-S] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 56.9% from the same period last year to 367 million yen. The progress rate against the 900 million yen full-year plan was 40.8%, also falling below the five-year average of 64.4%.

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 8.7 times that of the same period last year, reaching 533 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 344 million yen, a 28.2% decrease compared to the same period last year. The operating profit margin worsened from 3.7% in the same period last year to 2.2%.

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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	20,873	55	101	11	1.3	21.4	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	23,749	746	852	625	71.1	93.3	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	24,677	197	367	241	28.0	40.8	Nov 13, 2024	J-GAAP
YoY	+3.9%	-73.6%	-56.9%	-61.4%	-60.6%

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	ー	ー	ー	ー	－	－	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	24,677	197	367	241	28.0	－	Nov 13, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	23,627	-48	61	124	14.2	15	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	21,323	503	533	409	48.1	15	Nov 13, 2024	J-GAAP
YoY	-9.8%	－	+773.8%	+229.8%	+238.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	42,544	351	473	333	37.8	15	May 12, 2023	J-GAAP
Mar, 2024	47,376	698	913	749	85.9	15	May 15, 2024	J-GAAP
Mar, 2025 Guidance	46,000	700	900	650	76.5	15	May 15, 2024	J-GAAP
YoY	-2.9%	+0.3%	-1.4%	-13.2%	-11.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	12,695	466	479	340	38.7	3.7	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	13,883	438	536	450	51.5	3.2	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	9,744	-486	-475	-326	-37.4	-5.0	May 15, 2024	J-GAAP
Apr - Jun, 2024	11,392	-99	23	-18	-2.1	-0.9	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	13,285	296	344	259	30.1	2.2	Nov 13, 2024	J-GAAP
YoY	+4.6%	-36.5%	-28.2%	-23.8%	-22.1%