HARD OFF CORPORATION Co.,Ltd., First Half Ordinary Profit Increases by 36%, July-September Ordinary Profit Increases by 33%

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Thu Nov 7, 2024 2:00 pm JST Earnings

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

Earnings Report

HARD OFF CORPORATION Co.,Ltd. <2674> [TSE-P] announced its financial results in the afternoon session on November 7th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 1.63 billion yen, an increase of 36.5% compared to the same period last year. The progress rate against the 3.28 billion yen full-year plan was 50.0%, exceeding the five-year average of 41.5%.

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 decrease by 8.3% from the same period last year to 1.64 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 33.0% from the same period last year, reaching 620 million yen. The operating profit margin improved from 5.8% in the same period last year to 7.2%.

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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	12,968	1,054	1,145	738	53.2	45.6	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	14,177	1,083	1,201	757	54.5	40.2	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	16,165	1,532	1,639	1,021	73.5	50.0	Nov 7, 2024	J-GAAP
YoY	+14.0%	+41.5%	+36.5%	+34.9%	+34.9%

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	15,600	1,370	1,462	900	64.8	0	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	16,165	1,532	1,639	1,021	73.5	0	Nov 7, 2024	J-GAAP
Revision Rate	+3.6%	+11.8%	+12.1%	+13.4%	+13.5%

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	16,585	1,618	1,641	1,099	79.1	76	Nov 7, 2024	J-GAAP
YoY	+4.1%	-5.9%	-8.3%	-17.7%	-17.7%

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	32,750	3,150	3,280	2,120	152.6	76	May 9, 2024	J-GAAP
YoY	+8.8%	+12.4%	+9.7%	+1.3%	+1.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,000	405	466	273	19.7	5.8	Nov 8, 2023	J-GAAP
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
YoY	+12.6%	+39.5%	+33.0%	+29.7%	+29.7%