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HOKUETSU METAL Co.,Ltd., First Half Ordinary Profit Unexpectedly Revised Upward by 4%

Fri Nov 1, 2024 4:00 pm JST Earnings

5446 HOKUETSU METAL Co.,Ltd. 【J-GAAP】

Earnings Report

HOKUETSU METAL Co.,Ltd. <5446> [TSE-S] announced its financial results after the market closed on November 1st (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 4.2% from the same period last year, reaching 350 million yen, resulting in an increase in profits compared to the previous forecast of a 25.6% decrease.

However, The progress rate against the 650 million yen full-year plan was 53.8%, it was below the five-year average of 60.7%.

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 6.3% from the same period last year to 300 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 169 million yen, a 10.1% decrease compared to the same period last year. The operating profit margin worsened from 2.4% in the same period last year to 1.9%.

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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 15,345 498 541 438 114.2 47.8 Nov 2, 2022 J-GAAP
Apr - Sep, 2023 15,424 278 336 217 56.5 51.2 Nov 2, 2023 J-GAAP
Apr - Sep, 2024 15,578 276 350 199 51.8 53.8 Nov 1, 2024 J-GAAP
YoY +1.0% -0.7% +4.2% -8.3% -8.3%

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 15,500 200 250 150 39.0 10 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 15,578 276 350 199 51.8 10 Nov 1, 2024 J-GAAP
Revision Rate +0.5% +38.0% +40.0% +32.7% +32.9%

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 16,399 250 320 250 65.1 5 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 16,422 324 300 201 52.2 25 Nov 1, 2024 J-GAAP
YoY +0.1% +29.6% -6.3% -19.6% -19.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 31,041 1,040 1,132 1,011 263.4 85 May 10, 2023 J-GAAP
Mar, 2024 31,823 528 656 467 121.6 35 May 10, 2024 J-GAAP
Mar, 2025 Guidance 32,000 600 650 400 103.9 35 May 10, 2024 J-GAAP
YoY +0.6% +13.6% -0.9% -14.3% -14.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 7,579 179 188 113 29.4 2.4 Nov 2, 2023 J-GAAP
Oct - Dec, 2023 8,662 245 280 194 50.5 2.8 Feb 2, 2024 J-GAAP
Jan - Mar, 2024 7,737 5 40 56 14.6 0.1 May 10, 2024 J-GAAP
Apr - Jun, 2024 8,019 130 181 99 25.9 1.6 Aug 1, 2024 J-GAAP
Jul - Sep, 2024 7,559 146 169 100 26.0 1.9 Nov 1, 2024 J-GAAP
YoY -0.3% -18.4% -10.1% -11.5% -11.5%

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