Hibiya Engineering (1982) Q2 2025 earnings summary

Executive summary

• H1 FY3/25 net sales rose 14.1% YoY to ¥37,660m as carried-over construction progressed steadily; operating profit increased 231.8% to ¥3,238m on improved project profitability.

• Orders fell 39.8% YoY to ¥30,577m under managed order intake; backlog remained high but declined as construction progressed.

Financial highlights

• Gross profit rose 48.8% YoY to ¥7,315m; ordinary profit increased 150.1% to ¥3,576m and parent-attributable profit rose 169.3% to ¥2,574m.

• Comprehensive income declined 49.5% YoY to ¥1,340m, including a ¥1,317m negative valuation change on available-for-sale securities.

• Profit before income taxes was ¥3,778m, including ¥201m in gains on sale of investment securities.

Outlook and guidance

• FY3/25 forecasts remained unchanged: orders ¥88.5bn, net sales ¥91,000m, operating profit ¥5,900m, ordinary profit ¥6,600m and parent-attributable profit ¥4,600m.

• Data-center inquiries increased, supporting the order forecast; large private-sector projects were expected to contribute to H2 orders.

• Net sales guidance was maintained despite possible construction-period extensions from process delays; profit forecasts were retained despite H1 strength and H2 risks.

• FY3/25 forecast EPS was ¥204.46; forecasts rely on available information and assumptions, and actual results may differ materially.