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Hokuryo, The Current Fiscal Year Ordinary Profit Revised Upward by 26%, Dividend Revised Upward by 16 yen

Wed Feb 12, 2025 3:30 pm JST Earnings

1384 Hokuryo Co., Ltd. 【J-GAAP】

Earnings Report

Hokuryo Co., Ltd. <1384> [TSE Std] announced its financial results after the market closed on February 12th (15:30). The ordinary profit (non-consolidated) for the cumulative third quarter of the fiscal year ending March 2025 (April to December) significantly dropped 50.7% from the same period last year to 1.27 billion yen.

However, the full-year ordinary profit has been revised upward 26.2%, from the previous forecast of 1.43 billion yen to 1.8 billion yen (compared to 2.31 billion yen in the previous period), and the declining rate is expected to decrease from 38.3% to 22.1%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the ordinary profit for the October to March period (2H) is expected to increase 35.9%, from the previous forecast of 1.04 billion yen to 1.41 billion yen (compared to 0.42 billion yen in the same period of the previous year), increasing the growth rate from 2.5 times to 3.3 times.

In light of the strong performance, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 54 yen to 70 yen (compared to 40 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the ordinary profit grew 28.8% from the same period last year, reaching 0.88 billion yen. The operating profit margin rose from 13.2% in the same period last year to 16.3%.

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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 12,939 1,056 1,107 927 109.7 80.0 Feb 13, 2023 J-GAAP
Apr - Dec, 2023 14,726 2,521 2,577 1,787 211.3 111.3 Feb 13, 2024 J-GAAP
Apr - Dec, 2024 14,183 1,212 1,270 1,605 189.8 70.4 Feb 12, 2025 J-GAAP
YoY -3.7% -51.9% -50.7% -10.2% -10.2%

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 10,282 1,018 1,042 507 59.9 54 Nov 13, 2024 J-GAAP
Oct - Mar, 2024 New 10,402 1,378 1,416 959 113.4 70 Feb 12, 2025 J-GAAP
Revision Rate +1.2% +35.4% +35.9% +89.2% +89.1%

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 1,522 179.9 54 Nov 13, 2024 J-GAAP
Mar, 2025 New 19,300 1,730 1,804 1,974 233.4 70 Feb 12, 2025 J-GAAP
Revision Rate +0.6% +26.3% +26.2% +29.7% +29.7%

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 10,402 1,378 1,416 959 113.4 70 Feb 12, 2025 J-GAAP
YoY +12.7% +254.2% +234.0% +172.4% +172.4%

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 19,300 1,730 1,804 1,974 233.4 70 Feb 12, 2025 J-GAAP
YoY +2.1% -22.9% -22.1% +19.2% +19.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
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
Oct - Dec, 2024 5,285 860 882 590 69.8 16.3 Feb 12, 2025 J-GAAP
YoY +4.6% +29.3% +28.8% +22.2% +22.1%

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