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Harima-Kyowa Co.,LTD., First Half Ordinary Profit Unexpectedly Revised Upward by 8%

Mon Nov 11, 2024 4:00 pm JST Earnings

7444 Harima-Kyowa Co.,LTD. 【J-GAAP】

Earnings Report

Harima-Kyowa Co.,LTD. <7444> [TSE-S] announced its financial results after the market closed on November 11th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 7.5% from the same period last year, reaching 1.15 billion yen, resulting in an increase in profits compared to the previous forecast of a 2.6% decrease.

The progress rate against the 2.1 billion yen full-year plan was 55.2%, almost the same as the five-year average of 56.3%.

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 3.3% from the same period last year to 941 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 530 million yen, a 4.3% decrease compared to the same period last year. However, the operating profit margin remained almost flat, changing from 3.0% in the same period last year to 3.3%.

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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 30,776 939 1,115 745 138.7 55.4 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 31,645 924 1,078 713 132.8 52.6 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 33,388 1,100 1,159 767 142.7 55.2 Nov 11, 2024 J-GAAP
YoY +5.5% +19.0% +7.5% +7.6% +7.4%

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 32,200 930 1,050 730 135.6 0 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 33,388 1,100 1,159 767 142.7 0 Nov 11, 2024 J-GAAP
Revision Rate +3.7% +18.3% +10.4% +5.1% +5.2%

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 29,938 899 973 693 129.0 45 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 29,112 780 941 683 126.9 50 Nov 11, 2024 J-GAAP
YoY -2.8% -13.2% -3.3% -1.4% -1.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 60,156 1,777 2,013 1,391 258.9 41 May 12, 2023 J-GAAP
Mar, 2024 61,583 1,823 2,051 1,406 261.7 45 May 14, 2024 J-GAAP
Mar, 2025 Guidance 62,500 1,880 2,100 1,450 269.3 50 May 14, 2024 J-GAAP
YoY +1.5% +3.1% +2.4% +3.1% +2.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 15,683 468 554 384 71.5 3.0 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 15,124 435 465 320 59.6 2.9 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 14,814 464 508 373 69.4 3.1 May 14, 2024 J-GAAP
Apr - Jun, 2024 17,087 569 629 404 75.3 3.3 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 16,301 531 530 363 67.5 3.3 Nov 11, 2024 J-GAAP
YoY +3.9% +13.5% -4.3% -5.5% -5.6%

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