HOSHIZAKI Corp Reports Strong Financial Growth

HOSHIZAKI Corp ( (HSHIF) ) has released its Q3 earnings. Here is a breakdown of the information HOSHIZAKI Corp presented to its investors.

HOSHIZAKI Corporation is a leading manufacturer of commercial kitchen equipment, primarily operating in the foodservice industry, with a strong reputation for innovation and quality. In its latest earnings report for the nine months ending September 30, 2024, HOSHIZAKI Corporation demonstrated solid financial growth, with net sales increasing by 17.4% to ¥331,263 million and operating profit rising by 20.7% to ¥42,934 million compared to the previous year. The company’s ordinary profit also saw an increase of 9.6% to ¥47,550 million, while profit attributable to owners of the parent grew by 1.9% to ¥30,589 million. A notable change in HOSHIZAKI’s financial position includes a decrease in the equity ratio from 70.6% to 65.7%, reflecting a shift in the company’s asset structure. Additionally, the company announced a revision of its cash dividend forecast, with an expected annual dividend of ¥95.00 per share, matching the previous year’s payout. Looking forward, HOSHIZAKI Corporation’s management anticipates continued growth, with a forecasted net sales increase of 15.1% for the full year ending December 31, 2024, and a modest rise in profit attributable to owners of the parent by 3.5%.