HASEKO (1808) Q2 2025 earnings summary

Executive summary

• Net sales rose 6.8% year-over-year to ¥558.8B, driven by higher construction and real estate transaction volumes.

• Ordinary profit fell 16.2% year-over-year to ¥36.3B due to lower gross profits and extraordinary losses.

• Profit attributable to owners of parent declined 32.5% year-over-year to ¥19.4B, impacted by extraordinary losses from US investment sale, valuation losses, and litigation provisions.

• Orders received surged 50.8% year-over-year to ¥307.1B, a record for the first half.

• Interim dividend set at ¥40/share; annual forecast unchanged at ¥85/share.

Financial highlights

• Gross profit declined 5.8% year-over-year to ¥74.6B; operating profit dropped 18.1% to ¥35.4B.

• Basic earnings per share dropped to ¥70.97 from ¥105.24 in the prior year period.

• Comprehensive income was ¥30.8B, down from ¥41.2B year-over-year.

• Total assets as of September 30, 2024, were ¥1,257.4B, down ¥93.9B from March 31, 2024.

• Cash and cash equivalents at period end were ¥192.4B.

Outlook and guidance

• Orders received are expected to exceed the annual forecast of ¥580B for FY2024.

• Full-year net sales forecast is ¥1,180B; profit attributable to owners of parent forecast at ¥53B.

• Operating profit is projected at ¥82.0B (down 4.4% year-over-year).

• Annual dividend forecast remains at ¥85/share.

• No change to previously announced forecasts.