Hioki E E : Consolidated Financial Results for the Three Months Ended March 31, 2025 (Based on Japanese GAAP)

Published April 15, 2025 at 6:45 a.m. UTC

Source: MarketScreener

DISCLAIMER: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

April 15, 2025

	Consolidated Financial Results
	for the Three Months Ended March 31, 2025
	(Based on Japanese GAAP)
Company name:	HIOKI E.E.CORPORATION
Listing:	Tokyo Stock Exchange
Securities code:	6866
URL:	https://www.hioki.co.jp/
Representative:	Takahiro Okazawa, President
Inquiries:	Hisashi Shimizu, Director of Corporate Planning Department
Telephone:	+81-268-28-0555

Scheduled date to commence dividend payments:	-
Preparation of supplementary material on financial results:	None
Holding of financial results briefing:	None

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the three months ended March 31, 2025 (from January 1, 2025 to March 31, 2025)

(1) Consolidated operating results (cumulative)					(Percentages indicate year-on-year changes.)
	Net sales	Operating profit		Ordinary profit		Profit attributable to owners of
			parent


Three months ended	Millions of yen	%	Millions of yen		%	Millions of yen	%	Millions of yen	%
March 31, 2025	9,816	7.7	1,804		11.9	1,697	(1.6)	1,171	(2.9)
March 31, 2024	9,111	(9.1)	1,613		(31.1)	1,724	(27.6)	1,206	(26.3)

Note:	Comprehensive income For the three months ended March 31, 2025:		¥977 million	[(32.3)%]
			For the three months ended March 31, 2024:		¥1,443 million	[(16.6)%]
			Basic earnings per share		Diluted earnings per share

Three months ended		Yen			Yen
March 31, 2025		86.54			-
March 31, 2024		88.32			-

(2)	Consolidated financial position
			Total assets		Net assets		Equity-to-asset ratio	Net assets per share

As of		Millions of yen		Millions of yen		%	Yen
March 31, 2025		44,366			39,444		88.9	2,914.56
December 31, 2024		48,159			39,820		82.7	2,942.32

Reference:	Equity
		As of March 31, 2025:	¥39,444 million
		As of December 31, 2024:	¥39,820 million

2. Cash dividends

			Annual dividends per share
	First quarter-end	Second quarter-end	Third quarter-end
	Yen	Yen	Yen
Fiscal year ended	-	100.00	-
December 31, 2024

Fiscal year ending	-
December 31, 2025

Fiscal year ending
December 31, 2025		100.00
(Forecast)

Note: Revisions to the forecast of cash dividends most recently announced: None

Fiscal year-end

Yen

100.00

Total

Yen

200.00

3. Forecast of consolidated financial results for the fiscal year ending December 31, 2025 (from January 1, 2025 to December 31, 2025)

(Percentages indicate year-on-year changes.)

	Net sales	Operating profit		Ordinary profit		Profit attributable to	Basic earnings per share
			owners of parent


	Millions of yen	%	Millions of yen		%	Millions of yen	%	Millions of yen	%	Yen
Six months ending	21,350	14.4	3,660		9.4	3,690	2.1	2,820	7.6	207.28
June 30, 2025

Fiscal year ending	43,780	11.5	8,340		10.8	8,420	5.4	6,440	4.1	473.37
December 31, 2025

Note: Revisions to the earnings forecasts most recently announced: None

* Notes

Significant changes in the scope of consolidation during the period: None
Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None
Changes in accounting policies, changes in accounting estimates, and restatement
1. Changes in accounting policies due to revisions to accounting standards and other regulations: None
2. Changes in accounting policies due to other reasons: None
3. Changes in accounting estimates: None
4. Restatement: None
Number of issued shares (common shares)
1. Total number of issued shares at the end of the period (including treasury shares)

As of March 31, 2025

As of December 31, 2024

14,024,365 shares

Number of treasury shares at the end of the period

As of March 31, 2025

As of December 31, 2024

490,777 shares

490,717 shares

Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

Three months ended March 31, 2025	13,533,628 shares
Three months ended March 31, 2024	13,656,964 shares

Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm:nothing
Proper use of earnings forecasts, and other special matters

(Cautions on forward-looking statements, etc.)

The forward-looking statements, including forecasts of financial results, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. However, the Company makes no guarantee that these forecasts will be achieved. Actual financial results, etc. may differ substantially due to various factors. For the conditions on which earnings forecasts are predicated and precautions for using earnings forecasts, please refer to "1. Summary of Operating Results, etc. (3) Explanation of Forward-Looking Information such as Consolidated Earnings Forecasts."

Quarterly consolidated balance sheet

				(Thousands of yen)
			As of December 31, 2024	As of March 31, 2025

Assets

Current assets

	Cash and deposits		18,315,498	14,477,561
	Notes and accounts receivable - trade, and contract assets	4,329,119	4,222,633

	Electronically recorded monetary claims - operating		244,829	253,495
	Merchandise and finished goods	1,474,215	1,484,457

	Work in process		982,650	1,055,571
	Raw materials and supplies	4,764,388	4,387,166

	Other		395,458	494,093
	Allowance for doubtful accounts	(34,446)	(30,410)

	Total current assets		30,471,715	26,344,569
Non-current assets

	Property, plant and equipment

	Buildings and structures, net	9,678,685	9,743,153

	Machinery, equipment and vehicles, net		770,215	785,047
	Tools, furniture and fixtures, net	1,346,646	1,409,022

	Land		2,161,951	2,161,951
	Construction in progress	870,485	1,477,870

	Total property, plant and equipment		14,827,984	15,577,045
	Intangible assets

	Software		510,471	478,136
	Other	19,577	81,471

	Total intangible assets		530,049	559,608
	Investments and other assets		2,330,028	1,885,562

	Total non-current assets		17,688,062	18,022,216
Total assets		48,159,778	44,366,786

				(Thousands of yen)
			As of December 31, 2024	As of March 31, 2025

Liabilities

	Current liabilities

	Accounts payable - trade		824,287	888,431
	Income taxes payable	988,671	198,076

	Provision for product warranties		127,231	116,888
	Provision for bonuses	2,900,207	1,053,216

	Provision for bonuses for directors (and other officers)		-	22,774
	Provision for share-based compensation for directors	-	17,820

	Other		2,421,002	1,570,016

	Total current liabilities	7,261,401	3,867,225

	Non-current liabilities

	Deferred tax liabilities	22,935	23,799

	Retirement benefit liability		536,749	512,025
	Other	518,304	519,347

	Total non-current liabilities		1,077,989	1,055,171
	Total liabilities		8,339,390	4,922,396

Net assets

	Shareholders' equity

	Share capital		3,299,463	3,299,463
	Capital surplus	4,055,879	4,055,879

	Retained earnings		33,256,119	33,073,997
	Treasury shares	(1,695,696)	(1,696,136)

	Total shareholders' equity		38,915,767	38,733,204
	Accumulated other comprehensive income

	Valuation difference on available-for-sale securities		299,520	285,591
	Foreign currency translation adjustment	926,184	735,546

	Remeasurements of defined benefit plans		(321,084)	(309,952)
	Total accumulated other comprehensive income		904,620	711,184

	Total net assets		39,820,387	39,444,389

Total liabilities and net assets	48,159,778	44,366,786

Quarterly consolidated statement of income

(Thousands of yen)

Three months ended

March 31, 2024

Three months ended

March 31, 2025

Net sales		9,111,721	9,816,609
Cost of sales	4,664,453	4,775,599

Gross profit		4,447,267	5,041,009
Selling, general and administrative expenses		2,834,141	3,236,507

Operating profit		1,613,125	1,804,501
Non-operating income

Interest income		1,531	5,414
Dividend income	2,685	2,685

Rental income from buildings		2,205	4,339
Foreign exchange gains	84,906	-

Subsidy income		1,037	1,227
Refund income	-	31,815

Other		21,006	24,984
Total non-operating income		113,373	70,465

Non-operating expenses

Interest expenses	1,943	2,851

Foreign exchange losses		-	174,790
Other	3	94

Total non-operating expenses		1,946	177,737
Ordinary profit		1,724,552	1,697,230

Extraordinary income

Gain on sale of non-current assets	1,546	-

Total extraordinary income		1,546	-
Extraordinary losses

Loss on retirement of non-current assets		5,998	1,831
Total extraordinary losses		5,998	1,831

Profit before income taxes		1,720,099	1,695,399
Income taxes - current		117,364	147,720

Income taxes - deferred		396,521	376,436
Total income taxes		513,885	524,156

Profit		1,206,214	1,171,242

Profit attributable to owners of parent	1,206,214	1,171,242

Quarterly consolidated statement of comprehensive income

(Thousands of yen)

Three months ended

March 31, 2024

Three months ended

March 31, 2025

Profit		1,206,214	1,171,242
Other comprehensive income

Valuation difference on available-for-sale securities		104,293	(13,929)
Foreign currency translation adjustment	115,783	(190,638)

Remeasurements of defined benefit plans, net of tax		17,437	11,131
Total other comprehensive income		237,514	(193,435)

Comprehensive income		1,443,728	977,806
Comprehensive income attributable to

Comprehensive income attributable to owners of parent		1,443,728	977,806

(Notes on segment information, etc.)

Since the Group is a single segment of the electrical measuring instrument business, the description is omitted.