HOKUTO Corporation
Consolidated Financial Results
for the First Quarter Ended
June 30, 2024
August, 2024
Contents
- The financial report for the First Quarter Ended June 30, 2024
- Recent Activities
- Reference material
2
Highlights of the Quarter
1 | Our domestic mushroom business increased revenue |
due to high vegetable market prices and stable | |
mushroom unit sales price.
2 | Our 1Q operating profit produced a surplus due to cost |
reductions in electricity and other expenses. |
3
Consolidated Account at the 1st quarter in FY March 2025 (cf. previous year)
The domestic mushroom market suffered from bad weather and low temperatures from late March, reducing vegetable supply and maintaining high market prices. Thus, our unit sales prices of mushrooms have been stably maintained, contributing to the increased sales and profits of the Company.
(Millions of yen) | ||||
1Q ended | 1Q ended | YoYchange | YoY | |
Jun. 30, 2023 | Jun. 30, 2024 | |||
Net sales | 16,849 | 17,825 | 976 | 5.8% |
Gross profit | 2,618 | 3,995 | 1,376 | 52.6% |
Gross profit margin | 15.5% | 22.4% | ||
Selling, general and | 3,867 | 3,991 | 124 | 3.2% |
administrative expenses | ||||
Operating profit | (1,248) | 3 | 1,252 | － |
Operating profit margin | (7.4)% | 0.0% | ||
Ordinary profit | (304) | 923 | 1,227 | － |
Ordinary profit margin | (1.8)% | 5.2% | ||
Profit attributable to | (332) | 602 | 935 | － |
owners of parent | ||||
Net profit margin | (2.0)% | 3.4% | ||
Earnings per share (Yen) | (10.50) | 19.00 | ||
4 |
The 1st quarter in FY March 2025 Changes in mushroom production
（ｔ）
20,000
15,000
10,000
5,000
0
20,444 | 20,043 | 19,935 | |
537 | |||
588 | 531 | ||
716 | 596 | 591 | |
3,721 | 3,655 | 3,603 | |
4,418 | 4,245 | 4,309 |
11,050 | 10,958 | 10,899 |
Previous fiscal year 24/3 Production volume 25/3 | Net plan 25/3 |
Bunashimeji(Bunapi including) Eryngii Maitake Shimofuri hiratake Fresh Donko
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Summary by segment for the 1st quarter in FY March 2025 (cf. previous year)
（Unit: million yen） | |||
Mushroom business in Japan | Mushroom business outside Japan | ||
Increased sales and profits due to high vegetable market | Increased sales and profits mainly due to steady | ||
prices and stable unit sales prices | expansion of new customers in the US |
Net sales
10,776 | 11,274 | |
9,628 | ||
23/3 | 24/3 | 25/3 |
Operating profit
185 | ||
△692 | ||
△1,216 | ||
23/3 | 24/3 | 25/3 |
Net sales
1,911 | ||
1,537 | 1,657 | |
23/3 | 24/3 | 25/3 |
Operating profit
271 | ||
14 | ||
△28 | ||
23/3 | 24/3 | 25/3 |
Processed products business
Chemical products business
Increased sales and profits due to gradual recovery at Arden after the decreased order following price hikes
Steady sales to mass retailers and food vendors Increased sales and profits due to growing recovery in
sales to semiconductor and automotive parts manufacturers
Net sales
Operating profit
Net sales | Operating profit |
1,794 | 1,568 | 1,732 |
23/3 | 24/3 | 25/3 |
11 | 13 | |
△60 | ||
23/3 | 24/3 | 25/3 |
2,846 | 2,907 | |
2,704 | ||
23/3 | 24/3 | 25/3 |
64 | ||
44 | ||
6 | ||
23/3 | 24/3 | 25/3 |
6
Mushroom business in Japan (cf. the average unit sales price)
cf. Previous year | cf. Plan | |
Bunashimeji | 109.4% | 104.8% |
Eryngii | 105.3% | 102.2% |
Maitake | 107.3% | 105.4% |
Shimofuri | 110.8% | 103.8% |
hiratake | ||
Vegetable supply decreased due to the bad weather and low temperatures from late March, maintaining high market prices, thus stably maintaining our unit sales price of mushrooms.
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Mushroom business in Japan (cf. production volume)
cf. Previous year | cf. Plan | |
Bunashimeji | 99.2% | 100.6% |
Eryngii | 96.0% | 98.3% |
Maitake | 99.1% | 101.5% |
Shimofuri | 83.2% | 100.8% |
hiratake | ||
Although the production was lower than the last year due to adjustment, the
Company achieved production volume almost according to the plan.
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Mushroom business outside Japan (cf. previous year)
U.S.A (US$)
Taiwan (NT$)
Malaysia (RM)
Net sales
Operating profit
ROE Net sales
Operating profit
ROE Net sales
Operating profit
ROE
1Q ended Jun. 30, 2023
6,107,998 (315,857) 144.99 139,702,344 15,640,371 4.66 3,658,979 (1,333,447) 30.93
1Q ended Jun. 30, 2024
6,669,817 755,584 161.07 140,025,305 24,851,115 4.95 3,924,825 (312,370) 34.12
YoYchange
561,819 1,071,441
322,961 9,210,744
265,846 1,021,077
YoY
9.2% －
0.2% 58.9%
7.3% －
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Consolidated Account at the 1st quarter in FY March 2025 (cf. plan)
(Millions of yen) | ||||
Initial plan | 1Q ended | Plan | cf. Plan | |
Jun. 30, 2024 | difference | |||
Net sales | 17,620 | 17,825 | 205 | 1.2% |
Gross profit | 3,490 | 3,995 | 505 | 14.5% |
Gross profit margin | 19.8% | 22.4% | ||
Selling, general and | 4,190 | 3,991 | (198) | (4.7)% |
administrative expenses | ||||
Operating profit | (700) | 3 | 703 | － |
Operating profit margin | (4.0)% | 0.0% | ||
Ordinary profit | (612) | 923 | 1,535 | － |
Ordinary profit margin | (3.5)% | 5.2% | ||
Our operating profit overperformed the plan due to reduced sales costs and selling, general, and administrative expenses. Our ordinary profit also overperformed the plan due to the weaker yen and the resulting foreign exchange gains.
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