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HOKUETSU METAL, First Half Ordinary Profit Decreases by 83%

Wed Nov 5, 2025 3:00 pm JST Earnings

5446 HOKUETSU METAL Co.,Ltd. 【J-GAAP】

Earnings Report

HOKUETSU METAL Co.,Ltd. <5446> [TSE Std] announced its financial results in the afternoon session on November 5th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) significantly dropped 83.1% from the same period last year to 59 million yen, fell short of the previous forecast of 100 million yen.

Progress toward the full-year plan of 200 million yen was 29.5%, also falling below the five-year average of 64.6%.

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 significant drop 68.4% from the same period last year to 141 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 16 million yen (compared to a profit of 169 million yen in the same period last year). The operating profit/loss margin worsened from 1.9% in the same period last year to -0.4%.

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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, 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 44.0 Nov 1, 2024 J-GAAP
Apr - Sep, 2025 12,397 0 59 13 3.6 29.5 Nov 5, 2025 J-GAAP
YoY -20.4% － -83.1% -93.5% -93.1%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 Guidance 12,500 50 100 50 13.0 4 Aug 1, 2025 J-GAAP
Apr - Sep, 2025 Results 12,397 0 59 13 3.6 4 Nov 5, 2025 J-GAAP
Revision Rate -0.8% － -41.0% -74.0% -72.4%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 13,151 392 446 373 96.9 35 May 9, 2025 J-GAAP
Oct - Mar, 2025 Guidance 12,103 100 141 87 22.6 4 Nov 5, 2025 J-GAAP
YoY -8.0% -74.5% -68.4% -76.7% -76.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 31,823 528 656 467 121.6 35 May 10, 2024 J-GAAP
Mar, 2025 28,729 668 796 572 148.6 45 May 9, 2025 J-GAAP
Mar, 2026 Guidance 24,500 100 200 100 25.9 8 Aug 1, 2025 J-GAAP
YoY -14.7% -85.0% -74.9% -82.5% -82.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 7,559 146 169 100 26.0 1.9 Nov 1, 2024 J-GAAP
Oct - Dec, 2024 7,062 286 314 221 57.4 4.0 Feb 4, 2025 J-GAAP
Jan - Mar, 2025 6,089 106 132 152 39.5 1.7 May 9, 2025 J-GAAP
Apr - Jun, 2025 6,488 26 75 34 8.9 0.4 Aug 1, 2025 J-GAAP
Jul - Sep, 2025 5,909 -26 -16 -21 -5.8 -0.4 Nov 5, 2025 J-GAAP
YoY -21.8% － － － －

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