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HEIWA PAPER, Apr-Dec (Cumulative 3Q) Ordinary Profit Decreases by 14%, Oct-Dec Ordinary Profit Decreases by 22%

Thu Feb 13, 2025 4:00 pm JST Earnings

9929 HEIWA PAPER CO., LTD. 【J-GAAP】

Earnings Report

HEIWA PAPER CO., LTD. <9929> [TSE Std] announced its financial results after the market closed on February 13th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 13.8% from the same period last year to 150 million yen. The progress rate toward the full-year plan of 235 million yen was 63.8%, also falling below the five-year average of 75.9%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the January to March period (4Q) is expected to expand 80.9% from the same period last year, reaching 85 million yen.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit decreased to 70 million yen, a 22.2% decrease compared to the same period last year. The operating profit margin worsened from 1.5% in the same period last year to 0.8%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Dec, 2022 11,851 79 130 818 85.1 67.7 Feb 13, 2023 J-GAAP
Apr - Dec, 2023 11,915 113 174 102 10.8 78.7 Feb 13, 2024 J-GAAP
Apr - Dec, 2024 11,963 83 150 81 8.6 63.8 Feb 13, 2025 J-GAAP
YoY +0.4% -26.5% -13.8% -20.6% -20.6%

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 8,337 107 137 100 10.6 6 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 9,084 118 155 105 11.1 6 Nov 13, 2024 J-GAAP
YoY +9.0% +10.3% +13.1% +5.0% +4.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 16,068 138 192 874 91.4 11 May 10, 2023 J-GAAP
Mar, 2024 16,124 158 221 136 14.4 12 May 13, 2024 J-GAAP
Mar, 2025 Guidance 16,800 165 235 143 15.1 12 May 13, 2024 J-GAAP
YoY +4.2% +4.4% +6.3% +5.1% +4.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 4,128 62 90 66 7.0 1.5 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 4,209 45 47 34 3.6 1.1 May 13, 2024 J-GAAP
Apr - Jun, 2024 3,769 0 34 9 1.0 0.0 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 3,947 47 46 29 3.1 1.2 Nov 13, 2024 J-GAAP
Oct - Dec, 2024 4,247 36 70 43 4.6 0.8 Feb 13, 2025 J-GAAP
YoY +2.9% -41.9% -22.2% -34.8% -34.9%

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