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HIKARI BUSINESS FORM, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 32% Decrease

Fri May 9, 2025 6:00 pm JST Earnings

3948 HIKARI BUSINESS FORM CO., LTD. 【J-GAAP】

Earnings Report

HIKARI BUSINESS FORM CO., LTD. <3948> [TSE Std] announced its financial results after the market closed on May 9th (18:00). The ordinary profit (non-consolidated) for the first quarter of the fiscal year ending December 2025 (January to March) significantly dropped 93.9% from the same period last year to 5 million yen.

In addition, the full-year ordinary profit has decreased 70.0%, from the previous forecast of 500 million yen to 150 million yen (compared to 221 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 32.1% decrease in profit.

At the same time, the January to June period (1H) ordinary profit has decreased 75.0%, from the previous forecast of 400 million yen to 100 million yen (compared to 73 million yen in the same period of the previous year), leading to a reduction in the profit growth rate from 5.5 times to 37.0%.

In the most recent three-month period, from January to March (1Q), the operating profit/loss margin drastically worsened from 3.6% in the same period last year to -3.0%.

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Actual Results

Accumulated Results 1st Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Mar, 2023 2,797 604 621 277 48.5 57.7 May 11, 2023 J-GAAP
Jan - Mar, 2024 1,982 71 82 55 9.9 112.3 May 10, 2024 J-GAAP
Jan - Mar, 2025 1,701 -51 5 -3 -0.7 5.0 May 9, 2025 J-GAAP
YoY -14.2% － -93.9% － －

Guidance Update

First Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan - Jun, 2025 Prev 4,700 400 400 300 54.6 20 Feb 13, 2025 J-GAAP
Jan - Jun, 2025 New 3,700 50 100 60 10.9 20 May 9, 2025 J-GAAP
Revision Rate -21.3% -87.5% -75.0% -80.0% -80.0%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2025 Prev 8,400 500 500 350 65.0 40 Feb 13, 2025 J-GAAP
Dec, 2025 New 8,000 100 150 90 16.7 40 May 9, 2025 J-GAAP
Revision Rate -4.8% -80.0% -70.0% -74.3% -74.3%

Current Period Guidance

H1 Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan - Jun, 2024 3,802 53 73 45 8.2 18 Aug 8, 2024 J-GAAP
Jan - Jun, 2025 Guidance 3,700 50 100 60 10.9 20 May 9, 2025 J-GAAP
YoY -2.7% -5.7% +37.0% +33.3% +33.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 9,876 1,270 1,308 748 132.7 35 Feb 13, 2024 J-GAAP
Dec, 2024 7,915 178 221 161 28.9 38 Feb 13, 2025 J-GAAP
Dec, 2025 Guidance 8,000 100 150 90 16.7 40 May 9, 2025 J-GAAP
YoY +1.1% -43.8% -32.1% -44.1% -42.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jan - Mar, 2024 1,982 71 82 55 9.9 3.6 May 10, 2024 J-GAAP
Apr - Jun, 2024 1,820 -18 -9 -10 -1.8 -1.0 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 2,060 6 15 6 1.1 0.3 Nov 8, 2024 J-GAAP
Oct - Dec, 2024 2,053 119 133 110 19.7 5.8 Feb 13, 2025 J-GAAP
Jan - Mar, 2025 1,701 -51 5 -3 -0.7 -3.0 May 9, 2025 J-GAAP
YoY -14.2% － -93.9% － －

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