TOHO Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 3%

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Tue Sep 10, 2024 3:00 pm JST Earnings

8142 TOHO Co.,Ltd. 【J-GAAP】

Earnings Report

TOHO Co.,Ltd. <8142> [TSE-P] announced its financial results after the market closed on September 10th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending January 2025 (February to July) decreased by 3.9% from the same period last year to 3.63 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 2.7%, from the previous forecast of 7.3 billion yen to 7.5 billion yen (compared to 7.97 billion yen in the previous period), and the declining rate is expected to decrease from 8.4% to 5.9%..

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the August to January period (second half) is expected to decrease by 7.7% from the same period last year to 3.86 billion yen.

In the most recent three-month period, from May to July (2Q), the consolidated ordinary profit decreased to 1.58 billion yen, a 28.8% decrease compared to the same period last year. The operating profit margin worsened from 3.6% in the same period last year to 2.5%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Feb - Jul, 2022	100,351	1,241	1,440	631	58.7	37.1	Sep 9, 2022	J-GAAP
Feb - Jul, 2023	119,028	3,682	3,777	1,776	165.1	47.4	Sep 11, 2023	J-GAAP
Feb - Jul, 2024	121,196	3,471	3,631	2,281	212.1	48.4	Sep 10, 2024	J-GAAP
YoY	+1.8%	-5.7%	-3.9%	+28.4%	+28.5%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb - Jul, 2024 Guidance	121,000	3,500	3,500	2,000	185.9	55	Mar 11, 2024	J-GAAP
Feb - Jul, 2024 Results	121,196	3,471	3,631	2,281	212.1	55	Sep 10, 2024	J-GAAP
Revision Rate	+0.2%	-0.8%	+3.7%	+14.1%	+14.1%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2025 Prev	246,000	7,300	7,300	4,000	371.9	110	Mar 11, 2024	J-GAAP
Jan, 2025 New	246,000	7,300	7,500	4,400	409.1	110	Sep 10, 2024	J-GAAP
Revision Rate	0.0%	0.0%	+2.7%	+10.0%	+10.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug - Jan, 2023	125,902	4,137	4,194	1,829	170.0	55	Mar 11, 2024	J-GAAP
Aug - Jan, 2024 Guidance	124,804	3,829	3,869	2,119	197.0	55	Sep 10, 2024	J-GAAP
YoY	-0.9%	-7.4%	-7.7%	+15.9%	+15.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2023	215,573	3,650	3,877	1,007	93.6	35	Mar 10, 2023	J-GAAP
Jan, 2024	244,930	7,819	7,971	3,605	335.2	90	Mar 11, 2024	J-GAAP
Jan, 2025 Guidance	246,000	7,300	7,500	4,400	409.1	110	Sep 10, 2024	J-GAAP
YoY	+0.4%	-6.6%	-5.9%	+22.1%	+22.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	60,346	2,163	2,230	945	87.8	3.6	Sep 11, 2023	J-GAAP
Aug - Oct, 2023	62,163	2,205	2,239	1,489	138.4	3.5	Dec 11, 2023	J-GAAP
Nov - Jan, 2023	63,739	1,932	1,955	340	31.6	3.0	Mar 11, 2024	J-GAAP
Feb - Apr, 2024	61,541	2,005	2,043	1,072	99.7	3.3	Jun 13, 2024	J-GAAP
May - Jul, 2024	59,655	1,466	1,588	1,209	112.4	2.5	Sep 10, 2024	J-GAAP
YoY	-1.1%	-32.2%	-28.8%	+27.9%	+28.0%