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HARD OFF, The Current Fiscal Year Ordinary Profit Revised Upward by 5%, Raises Record High Profit Forecast

Thu Feb 6, 2025 2:00 pm JST Earnings

2674 HARD OFF CORPORATION Co.,Ltd. 【J-GAAP】

Earnings Report

HARD OFF CORPORATION Co.,Ltd. <2674> [TSE Prime] announced its financial results in the afternoon session on February 6th (14:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 23.0% from the same period last year, reaching 2.69 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward 5.2%, from the previous forecast of 3.28 billion yen to 3.45 billion yen (compared to 2.99 billion yen in the previous period), increasing the growth rate from 9.7% to 15.4%, further surpassing the previous forecast of record-high profits for three consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) is expected to increase 10.4%, from the previous forecast of 1.64 billion yen to 1.81 billion yen (compared to 1.78 billion yen in the same period of the previous year), turning to a 1.2% increase in the consolidated ordinary profit outlook.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 6.8% from the same period last year, reaching 1.05 billion yen. However, the operating profit margin decreased from 12.0% in the same period last year to 11.6%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Dec, 2022 20,004 1,823 1,954 1,194 86.1 77.8 Feb 7, 2023 J-GAAP
Apr - Dec, 2023 22,052 2,029 2,191 1,353 97.4 73.3 Feb 7, 2024 J-GAAP
Apr - Dec, 2024 24,803 2,535 2,696 1,734 124.8 78.1 Feb 6, 2025 J-GAAP
YoY +12.5% +24.9% +23.0% +28.2% +28.2%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 Prev 16,585 1,618 1,641 1,099 79.1 76 Nov 7, 2024 J-GAAP
Oct - Mar, 2024 New 17,165 1,738 1,811 1,189 85.6 76 Feb 6, 2025 J-GAAP
Revision Rate +3.5% +7.4% +10.4% +8.2% +8.2%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 32,750 3,150 3,280 2,120 152.6 76 May 9, 2024 J-GAAP
Mar, 2025 New 33,330 3,270 3,450 2,210 159.0 76 Feb 6, 2025 J-GAAP
Revision Rate +1.8% +3.8% +5.2% +4.2% +4.2%

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 15,928 1,720 1,789 1,336 96.1 76 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 17,165 1,738 1,811 1,189 85.6 76 Feb 6, 2025 J-GAAP
YoY +7.8% +1.0% +1.2% -11.0% -11.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 27,040 2,312 2,510 1,653 119.1 60 May 11, 2023 J-GAAP
Mar, 2024 30,105 2,803 2,990 2,093 150.6 76 May 9, 2024 J-GAAP
Mar, 2025 Guidance 33,330 3,270 3,450 2,210 159.0 76 Feb 6, 2025 J-GAAP
YoY +10.7% +16.7% +15.4% +5.6% +5.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 7,875 946 990 596 42.9 12.0 Feb 7, 2024 J-GAAP
Jan - Mar, 2024 8,053 774 799 740 53.3 9.6 May 9, 2024 J-GAAP
Apr - Jun, 2024 8,282 967 1,019 667 48.0 11.7 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 7,883 565 620 354 25.5 7.2 Nov 7, 2024 J-GAAP
Oct - Dec, 2024 8,638 1,003 1,057 713 51.3 11.6 Feb 6, 2025 J-GAAP
YoY +9.7% +6.0% +6.8% +19.6% +19.7%

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