Hamai Industries (6497) Q2 2024 earnings summary

Executive summary

• Revenue increased 8.6% year-over-year to ¥5,897 million for the first half of FY2024, driven by higher sales in LPG container valves and increased demand for new and reinspection containers.

• Operating profit rose 10.7% year-over-year to ¥569 million, reflecting successful price revisions and cost management despite elevated material and fuel costs.

• Net income attributable to shareholders dropped 95.8% year-over-year to ¥21 million due to a one-time antitrust penalty of ¥454 million.

Financial highlights

• Revenue: ¥5,897 million (up 8.6% year-over-year).

• Operating profit: ¥569 million (up 10.7% year-over-year).

• Ordinary profit: ¥659 million (up 10.7% year-over-year).

• Net income: ¥21 million (down 95.8% year-over-year, due to special loss from antitrust fine).

• Comprehensive income: ¥482 million (down 45.5% year-over-year).

Outlook and guidance

• Full-year revenue forecast: ¥11,000 million (down 1.2% year-over-year).

• Full-year operating profit forecast: ¥1,000 million (down 2.1% year-over-year).

• Full-year net income forecast: ¥450 million (down 50.5% year-over-year).

• No changes to previously announced guidance as of June 27, 2024.