Headwaters, 8% Decrease in Ordinary Profit for The Current Fiscal Year

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Fri Feb 14, 2025 12:00 pm JST Earnings

4011 Headwaters Co.,Ltd 【J-GAAP】

Earnings Report

Headwaters Co.,Ltd <4011> [TSE Growth] announced its financial results at noon (12:00) on February 14th. The consolidated ordinary profit for the fiscal year ending December 2024 expanded 3.7 times that of the previous period to 362 million yen. However, for the fiscal year ending December 2025, the profit is expected to decrease by 8.3% from the previous period to 332 million yen.

In the most recent three-month period, from October to December (4Q), the consolidated ordinary profit surged 11 times that of the same period last year, reaching 144 million yen. The operating profit margin drastically improved from 1.9% in the same period last year to 11.1%.

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Actual Results

Historical Performance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	1,574	110	106	75	20.1	0	Feb 14, 2023	J-GAAP
Dec, 2023	2,315	94	98	70	18.9	0	Feb 14, 2024	J-GAAP
Dec, 2024	2,905	307	362	272	72.0	0	Feb 14, 2025	J-GAAP
YoY	+25.5%	+226.6%	+269.4%	+288.6%	+282.0%

Full Year Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Guidance	2,928	293	297	206	54.3	0	Nov 14, 2024	J-GAAP
Dec, 2024 Results	2,905	307	362	272	72.0	0	Feb 14, 2025	J-GAAP
Revision Rate	-0.8%	+4.8%	+21.9%	+32.0%	+32.7%

Current Period Guidance

H1 Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan - Jun, 2024	1,332	151	150	100	26.7	0	Aug 14, 2024	J-GAAP
Jan - Jun, 2025 Guidance	ー	ー	ー	ー	－	0	Feb 14, 2025	J-GAAP
YoY	－	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2023	2,315	94	98	70	18.9	0	Feb 14, 2024	J-GAAP
Dec, 2024	2,905	307	362	272	72.0	0	Feb 14, 2025	J-GAAP
Dec, 2025 Guidance	4,007	328	332	237	62.4	0	Feb 14, 2025	J-GAAP
YoY	+37.9%	+6.8%	-8.3%	-12.9%	-13.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	529	10	13	17	4.6	1.9	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	708	132	131	89	23.9	18.6	May 15, 2024	J-GAAP
Apr - Jun, 2024	624	19	19	11	2.9	3.0	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	755	65	68	45	12.0	8.6	Nov 14, 2024	J-GAAP
Oct - Dec, 2024	818	91	144	127	33.6	11.1	Feb 14, 2025	J-GAAP
YoY	+54.6%	+810.0%	+1,007.7%	+647.1%	+634.1%