TORQ Inc., 3Q (May-July) Ordinary Profit Increases by 14%

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Fri Sep 13, 2024 3:00 pm JST Earnings

8077 TORQ Inc. 【J-GAAP】

Earnings Report

TORQ Inc. <8077> [TSE-S] announced its financial results after the market closed on September 13th (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending October 2024 (November 2023 to July 2024) decreased by 15.3% from the same period last year to 762 million yen. However, this progress accounts for 76.2% of the full-year plan of 1 billion yen, also surpassing the three-year average of 50.8%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the August to October period (4Q) is expected to decrease by 29.8% from the same period last year to 238 million yen.

In the most recent three-month period, from May to July (3Q), the consolidated ordinary profit grew by 13.9% from the same period last year, reaching 328 million yen. The operating profit margin improved from 4.2% in the same period last year to 4.7%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Nov - Jul, 2021	15,045	191	326	216	8.8	46.0	Sep 13, 2022	J-GAAP
Nov - Jul, 2022	16,221	601	900	616	24.9	72.6	Sep 13, 2023	J-GAAP
Nov - Jul, 2023	16,590	653	762	533	21.5	76.2	Sep 13, 2024	J-GAAP
YoY	+2.3%	+8.7%	-15.3%	-13.5%	-13.6%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May - Oct, 2023	11,021	403	627	428	17.3	3	Dec 14, 2023	J-GAAP
May - Oct, 2024 Guidance	11,130	368	566	389	16.6	3	Jun 13, 2024	J-GAAP
YoY	+1.0%	-8.7%	-9.7%	-9.1%	-3.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct, 2022	20,477	419	709	532	21.5	6	Dec 14, 2022	J-GAAP
Oct, 2023	21,757	772	1,239	845	34.1	6	Dec 14, 2023	J-GAAP
Oct, 2024 Guidance	22,000	750	1,000	700	29.9	6	Jun 13, 2024	J-GAAP
YoY	+1.1%	-2.8%	-19.3%	-17.2%	-12.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	5,485	232	288	199	8.0	4.2	Sep 13, 2023	J-GAAP
Aug - Oct, 2023	5,536	171	339	229	9.2	3.1	Dec 14, 2023	J-GAAP
Nov - Jan, 2023	5,308	175	164	78	3.2	3.3	Mar 15, 2024	J-GAAP
Feb - Apr, 2024	5,562	207	270	233	9.4	3.7	Jun 13, 2024	J-GAAP
May - Jul, 2024	5,720	271	328	222	9.0	4.7	Sep 13, 2024	J-GAAP
YoY	+4.3%	+16.8%	+13.9%	+11.6%	+11.5%