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HASEGAWA CO., LTD., First Half Ordinary Profit Decreases by 41%

Tue Nov 5, 2024 3:30 pm JST Earnings

8230 HASEGAWA CO., LTD. 【J-GAAP】

Earnings Report

HASEGAWA CO., LTD. <8230> [TSE-S] announced its financial results after the market closed on November 5th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 40.6% from the same period last year to 626 million yen, fell short of the previous forecast of 800 million yen.

The progress rate against the 1.2 billion yen full-year plan was 52.2%, below the five-year average of 57.2%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to decrease by 1.7% from the same period last year to 574 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit dropped to 566 million yen, a 30.8% decrease compared to the same period last year. The operating profit margin decreased from 12.9% in the same period last year to 9.6%.

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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 11,497 1,265 1,277 896 49.3 72.0 Nov 4, 2022 J-GAAP
Apr - Sep, 2023 11,497 1,038 1,054 703 38.7 64.3 Nov 6, 2023 J-GAAP
Apr - Sep, 2024 10,831 571 626 446 24.6 52.2 Nov 5, 2024 J-GAAP
YoY -5.8% -45.0% -40.6% -36.6% -36.5%

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 11,700 800 800 550 30.2 7.50 May 15, 2024 J-GAAP
Apr - Sep, 2024 Results 10,831 571 626 446 24.6 7.50 Nov 5, 2024 J-GAAP
Revision Rate -7.4% -28.6% -21.8% -18.9% -18.8%

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 9,803 574 584 356 19.6 7.50 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 11,669 679 574 354 19.5 7.50 Nov 5, 2024 J-GAAP
YoY +19.0% +18.3% -1.7% -0.6% -0.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 21,608 1,769 1,773 1,154 63.5 11.25 May 15, 2023 J-GAAP
Mar, 2024 21,300 1,612 1,638 1,059 58.3 15 May 15, 2024 J-GAAP
Mar, 2025 Guidance 22,500 1,250 1,200 800 44.0 15 May 15, 2024 J-GAAP
YoY +5.6% -22.5% -26.7% -24.5% -24.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 6,398 823 818 565 31.1 12.9 Nov 6, 2023 J-GAAP
Oct - Dec, 2023 4,704 52 65 40 2.2 1.1 Feb 5, 2024 J-GAAP
Jan - Mar, 2024 5,099 522 519 316 17.4 10.2 May 15, 2024 J-GAAP
Apr - Jun, 2024 4,789 -7 60 31 1.7 -0.1 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 6,042 578 566 415 22.8 9.6 Nov 5, 2024 J-GAAP
YoY -5.6% -29.8% -30.8% -26.5% -26.5%

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