Hi-Lex Q1 profit jumps amid executive resignation

Hi-Lex Corporation (TSE:7279) announced a significant increase in net profit attributable to owners of the parent for the first quarter of fiscal year 2025, reaching ¥751 million, a 52.1% increase year-over-year. This growth occurred despite a slight decrease in sales to ¥77.503 billion, a 1.1% decrease from the same period last year. The company attributed the profit increase to cost reduction efforts and price revisions. Concurrently, Hi-Lex disclosed the resignation of outside director Kenji Uenishi, effective March 7, 2025, due to personal reasons. The company affirmed that the resignation does not impact its compliance with board member requirements. While sales were slightly down due to decreased automotive production, the company expects continued revenue and profit growth for the remainder of the year.