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HEIWADO CO.,LTD., June-August (2Q) Ordinary Profit Decreases by 4%

Thu Oct 3, 2024 1:30 pm JST Earnings

8276 HEIWADO CO.,LTD. 【J-GAAP】

Earnings Report

HEIWADO CO.,LTD. <8276> [TSE-P] announced its financial results in the afternoon session on October 3rd (13:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) was 7.07 billion yen, a 2.2% increase compared to the same period last year. However, The progress rate against the 14.7 billion yen full-year plan was 48.1%, almost the same as the five-year average of 45.9%.

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 September to February period (second half) is expected to nearly flat of 0.8% from the same period last year, reaching 7.63 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 3.85 billion yen, a 3.6% decrease compared to the same period last year. The operating profit margin worsened from 3.5% in the same period last year to 3.1%.

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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
Mar - Aug, 2022 203,210 4,825 5,567 2,982 56.9 42.6 Sep 29, 2022 J-GAAP
Mar - Aug, 2023 207,960 6,386 6,916 4,129 78.7 47.8 Sep 28, 2023 J-GAAP
Mar - Aug, 2024 216,645 6,306 7,070 4,564 88.2 48.1 Oct 3, 2024 J-GAAP
YoY +4.2% -1.3% +2.2% +10.5% +12.0%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2024 Guidance 217,000 6,800 7,300 4,800 93.3 30 Apr 4, 2024 J-GAAP
Mar - Aug, 2024 Results 216,645 6,306 7,070 4,564 88.2 30 Oct 3, 2024 J-GAAP
Revision Rate -0.2% -7.3% -3.2% -4.9% -5.4%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2023 217,464 6,871 7,566 2,655 50.6 23 Apr 4, 2024 J-GAAP
Sep - Feb, 2024 Guidance 227,355 7,394 7,630 4,536 89.9 30 Oct 3, 2024 J-GAAP
YoY +4.5% +7.6% +0.8% +70.8% +77.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 415,675 11,279 13,069 7,516 143.3 42 Apr 4, 2023 J-GAAP
Feb, 2024 425,424 13,257 14,482 6,784 129.4 42 Apr 4, 2024 J-GAAP
Feb, 2025 Guidance 444,000 13,700 14,700 9,100 180.4 60 Apr 4, 2024 J-GAAP
YoY +4.4% +3.3% +1.5% +34.1% +39.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 107,055 3,791 4,001 2,557 48.8 3.5 Sep 28, 2023 J-GAAP
Sep - Nov, 2023 104,538 1,889 2,205 1,271 24.2 1.8 Dec 28, 2023 J-GAAP
Dec - Feb, 2023 112,926 4,982 5,361 1,384 26.4 4.4 Apr 4, 2024 J-GAAP
Mar - May, 2024 105,278 2,833 3,213 2,006 38.6 2.7 Jun 27, 2024 J-GAAP
Jun - Aug, 2024 111,367 3,473 3,857 2,558 49.4 3.1 Oct 3, 2024 J-GAAP
YoY +4.0% -8.4% -3.6% +0.0% +1.4%

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