HIMACS (4299) Q2 2025 earnings summary

Executive summary

• H1 FY3/25 net sales rose 1.7% YoY to ¥8,816m; operating profit increased 14.3% to ¥804m and profit attributable to owners of parent rose 15.0% to ¥554m.

• DX demand strengthened, with DX sales up 27.2% and order backlog up 29.8%; FY guidance calls for 7.2% revenue growth and a ¥44 annual dividend.

Financial highlights

• Gross profit rose 5.3% to ¥1,805m; SG&A was ¥1,002m, down 1.0% YoY.

• Ordinary profit increased 14.9% to ¥811m; EPS rose to ¥47.86 from ¥41.37.

• Operating profit bridge: price improvements and other factors +¥172m, higher outsourcing rates -¥81m, and SG&A reductions +¥11m.

• Cash and deposits were ¥9,790m at period-end; net assets were ¥11,266m and comprehensive income was ¥545m.

Outlook and guidance

• FY3/25 revenue forecast ¥18,600m, +7.2%; operating profit ¥1,780m, ordinary profit ¥1,790m, and net income ¥1,220m.

• Forecast operating margin 9.6%, ordinary margin 9.6%, net margin 6.6%, and EPS ¥105.32.

• Revenue mix outlook: financial and non-financial businesses forecast at 67% and 33%; growth areas include bank zero-trust, credit DX, public-sector and transport DX projects.