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HOKUETSU INDUSTRIES CO., LTD., First Half Ordinary Profit Decreases by 18%, July-September Ordinary Profit Decreases by 41%

Wed Nov 6, 2024 3:30 pm JST Earnings

6364 AIRMAN CORPORATION 【J-GAAP】

Earnings Report

HOKUETSU INDUSTRIES CO., LTD. <6364> [TSE-P] announced its financial results after the market closed on November 6th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 18.0% from the same period last year to 3.44 billion yen. The progress rate against the 7.4 billion yen full-year plan was 46.6%, almost the same as the five-year average of 48.1%.

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 grow by 26.8% from the same period last year, reaching 3.95 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 1.21 billion yen, a 40.8% decrease compared to the same period last year. However, the operating profit margin rose from 14.4% in the same period last year to 15.1%.

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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 22,437 2,461 3,134 2,149 75.7 58.3 Nov 7, 2022 J-GAAP
Apr - Sep, 2023 25,803 3,595 4,207 2,927 104.1 57.4 Nov 6, 2023 J-GAAP
Apr - Sep, 2024 27,166 3,566 3,405 2,360 85.0 46.0 Nov 6, 2024 J-GAAP
YoY +5.3% -0.8% -19.1% -19.4% -18.4%

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 27,900 3,600 3,700 2,600 93.6 20 May 9, 2024 J-GAAP
Apr - Sep, 2024 Results 27,166 3,566 3,405 2,360 85.0 20 Nov 6, 2024 J-GAAP
Revision Rate -2.6% -0.9% -8.0% -9.2% -9.3%

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 26,097 2,592 3,116 2,171 77.6 37 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 28,834 3,564 3,995 2,740 99.7 37 Nov 6, 2024 J-GAAP
YoY +10.5% +37.5% +28.2% +26.2% +28.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 49,000 4,842 5,380 3,752 132.5 45 May 10, 2023 J-GAAP
Mar, 2024 51,900 6,187 7,323 5,098 182.2 57 May 9, 2024 J-GAAP
Mar, 2025 Guidance 56,000 7,130 7,400 5,100 185.6 57 May 9, 2024 J-GAAP
YoY +7.9% +15.2% +1.1% +0.0% +1.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 13,999 2,010 2,046 1,423 50.6 14.4 Nov 6, 2023 J-GAAP
Oct - Dec, 2023 13,532 1,849 1,286 875 31.2 13.7 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 12,565 743 1,830 1,296 46.3 5.9 May 9, 2024 J-GAAP
Apr - Jun, 2024 13,196 1,702 2,230 1,552 55.9 12.9 Jul 30, 2024 J-GAAP
Jul - Sep, 2024 13,970 1,864 1,175 808 29.1 13.3 Nov 6, 2024 J-GAAP
YoY -0.2% -7.3% -42.6% -43.2% -42.5%

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