Hirose Electric Co.,Ltd.

OTCPK:HRSEF

Japan / Information Technology / Electronic Equipment, Instruments & Components

Overview

Dividends

10Y Historical Financials

Stock Price

127.26 USD


Key Metrics	Latest
Total Revenue	184.8 B
Adjusted EBITDA	60.24 B
EBITDA Margin	32.6%
Net Profit Margin	18.4%
Total Assets	422.3 B
Total Debt	5.798 B

10Y Historical Financial Statements

Summary Financials


Summary Financials

	Fiscal Year Ending										Latest
(in millions)	Mar-15	Mar-16	Mar-17	Mar-18	Mar-19	Mar-20	Mar-21	Mar-22	Mar-23	Mar-24	12 Months

Revenue	125,726	120,284	115,103	125,280	124,590	121,765	133,538	163,671	183,224	165,509	184,769
% Growth		-4.3%	-4.3%	8.8%	-0.6%	-2.3%	9.7%	22.6%	11.9%	-9.7%

Adjusted EBITDA	43,950	40,355	36,551	39,424	37,041	37,015	45,046	57,451	64,399	52,312	60,240
% Margin	35.0%	33.5%	31.8%	31.5%	29.7%	30.4%	33.7%	35.1%	35.1%	31.6%	32.6%

Adjusted EBIT	32,589	28,795	28,484	28,650	23,934	21,196	28,277	41,044	47,695	35,465	42,449
% Margin	25.9%	23.9%	24.7%	22.9%	19.2%	17.4%	21.2%	25.1%	26.0%	21.4%	23.0%

Adjusted Net Income	23,282	21,097	21,699	20,149	18,519	15,970	20,351	31,689	35,305	27,063	33,932
% Margin	18.5%	17.5%	18.9%	16.1%	14.9%	13.1%	15.2%	19.4%	19.3%	16.4%	18.4%

Adjusted Basic EPS	684.08	596.10	621.63	578.75	506.63	438.64	561.10	892.49	1,021.06	789.38	1,006.54

Supporting Calculations

Income Statement

Balance Sheet

Statement of Cashflows


Income Statement
											Press Release
JPY	Fiscal Year Ending										Latest
(in millions)	Mar-15	Mar-16	Mar-17	Mar-18	Mar-19	Mar-20	Mar-21	Mar-22	Mar-23	Mar-24	Dec-24
	FY - 9	FY - 8	FY - 7	FY - 6	FY - 5	FY - 4	FY - 3	FY - 2	FY - 1	FY	LTM

Revenue	125,726	120,284	115,103	125,280	124,590	121,765	133,538	163,671	183,224	165,509	184,769
% Growth	NA	-4.3%	-4.3%	8.8%	-0.6%	-2.3%	9.7%	22.6%	11.9%	-9.7%

Cost of Revenue	(69,163)	(65,839)	(61,097)	(67,509)	(69,972)	(70,383)	(76,869)	(88,728)	(95,036)	(93,012)	(101,904)
Gross Profit	56,563	54,445	54,006	57,771	54,618	51,382	56,669	74,943	88,188	72,497	82,865
% Revenue	45.0%	45.3%	46.9%	46.1%	43.8%	42.2%	42.4%	45.8%	48.1%	43.8%	44.8%

Research and Development	(6,192)	(7,017)	(6,686)	(7,983)	(7,520)	(7,506)	(7,174)	(7,817)	(8,646)	(11,368)	(11,368)
Selling and Marketing	(2,766)	(2,712)	(2,913)	(3,250)	(3,753)	(3,515)	(4,244)	(5,206)	(6,654)	(4,675)	(4,675)
General and Admin	(14,193)	(15,101)	(15,187)	(16,985)	(18,465)	(17,483)	(16,519)	(19,008)	(23,409)	(22,490)	(26,501)
Other Inc / (Exp)	323	(47)	(737)	(2,093)	(1,317)	(2,814)	(1,364)	(1,029)	(2,870)	1,840	2,467
Total Operating Exp	(22,828)	(24,877)	(25,523)	(30,311)	(31,055)	(31,318)	(29,301)	(33,060)	(41,579)	(36,693)	(40,077)

Operating Income	33,735	29,568	28,483	27,460	23,563	20,064	27,368	41,883	46,609	35,804	42,788
% Revenue	26.8%	24.6%	24.7%	21.9%	18.9%	16.5%	20.5%	25.6%	25.4%	21.6%	23.2%

Interest Expense	934	959	853	931	1,108	1,141	964	1,198	1,982	2,957	2,807
Pre-tax Income	34,669	30,527	29,336	28,391	24,671	21,205	28,332	43,081	48,591	38,761	45,595
Earnings of Discontinued Ops.	0	0	0	0	0	0	0	0	0	0	0
Provision for Taxes	(11,603)	(9,423)	(7,980)	(8,865)	(6,780)	(5,900)	(8,416)	(11,644)	(13,943)	(12,281)	(12,246)
Net Income to Company	23,066	21,104	21,356	19,526	17,891	15,305	19,916	31,437	34,648	26,480	33,349
% Margin	18.3%	17.5%	18.6%	15.6%	14.4%	12.6%	14.9%	19.2%	18.9%	16.0%	18.0%

Minority Interest in Earnings	(118)	0	0	0	0	0	0	0	0	0	0
Net Income to Stockholders	22,948	21,104	21,356	19,526	17,891	15,305	19,916	31,437	34,648	26,480	33,349

Preferred Dividends	0	0	0	0	0	0	0	0	0	0	0
Other Adj.	0	0	0	0	0	0	0	0	0	0	0

Net Income to Common	22,948	21,104	21,356	19,526	17,891	15,305	19,916	31,437	34,648	26,480	33,349
% Margin	18.3%	17.5%	18.6%	15.6%	14.4%	12.6%	14.9%	19.2%	18.9%	16.0%	18.0%

As Reported
Basic EPS (Continuing Ops)	674.27	596.31	611.81	560.85	489.47	420.39	549.10	885.40	1,002.05	772.37	985.58
Diluted EPS (Continuing Ops)	674.24	596.00	611.70	560.60	489.45	420.37	549.04	885.16	1,001.87	772.33	985.59

WA Basic Shares Out.	34.03	35.39	34.91	34.82	36.55	36.41	36.27	35.51	34.58	34.28	33.71
WA Diluted Shares Out.	34.04	35.41	34.91	34.83	36.55	36.41	36.27	35.52	34.58	34.29	33.71

EBITDA, EBIT Reconciliation
EBT, Incl. Unusual Items	34,669	30,527	29,336	28,391	24,671	21,205	28,332	43,081	48,591	38,761	45,595
Addback: Net Interest Expense	(934)	(959)	(853)	(931)	(1,108)	(1,141)	(964)	(1,198)	(1,982)	(2,957)	(2,807)
Addback: Other Non Operating Expenses, Total	(1,438)	(763)	(462)	348	(477)	234	321	(1,179)	198	(1,127)	(1,127)
Addback: Depreciation & Amortization	11,361	11,560	8,067	10,774	13,107	15,819	16,769	16,407	16,704	16,847	17,791
Addback: Restructuring Charges	0	0	0	0	0	0	0	0	0	0	0
Addback: Merger / Acquisition Expenses	0	0	0	0	0	0	0	0	0	0	0
Addback: Goodwill Impairment	0	0	0	0	0	0	0	0	0	0	0
Addback: Gain (Loss) On Sale Of Invest.	0	0	0	0	(23)	(23)	(20)	(71)	(139)	(724)	(724)
Addback: Gain (Loss) On Sale Of Assets	0	(347)	0	0	862	921	474	362	1,027	1,512	1,512
Addback: Asset Writedown	292	337	463	842	9	0	134	49	0	0	0
Addback: In Process R&D Expenses	0	0	0	0	0	0	0	0	0	0	0
Addback: Insurance Settlements	0	0	0	0	0	0	0	0	0	0	0
Addback: Legal Settlements	0	0	0	0	0	0	0	0	0	0	0
Addback: Other Unusual Items	0	0	0	0	0	0	0	0	0	0	0
Adjusted EBITDA	43,950	40,355	36,551	39,424	37,041	37,015	45,046	57,451	64,399	52,312	60,240
% Margin	35.0%	33.5%	31.8%	31.5%	29.7%	30.4%	33.7%	35.1%	35.1%	31.6%	32.6%

Adjusted EBIT	32,589	28,795	28,484	28,650	23,934	21,196	28,277	41,044	47,695	35,465	42,449
% Margin	25.9%	23.9%	24.7%	22.9%	19.2%	17.4%	21.2%	25.1%	26.0%	21.4%	23.0%

Adjusted Net Income Reconciliation
Net Income to Company	23,066	21,104	21,356	19,526	17,891	15,305	19,916	31,437	34,648	26,480	33,349
Addback: Unusual Items	292	(10)	463	842	848	898	588	340	888	788	788
Less: Tax Benefit of Unusual Items (26%)	(76)	3	(120)	(219)	(220)	(233)	(153)	(88)	(231)	(205)	(205)
Adjusted Net Income	23,282	21,097	21,699	20,149	18,519	15,970	20,351	31,689	35,305	27,063	33,932
% Margin	18.5%	17.5%	18.9%	16.1%	14.9%	13.1%	15.2%	19.4%	19.3%	16.4%	18.4%

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Hirose Electric Co.,Ltd.

OTCPK:HRSEF

Japan / Information Technology / Electronic Equipment, Instruments & Components

10Y Historical Financials