TOKYO BASE Co., Ltd., First Half Ordinary Profit Increases by 32%

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Tue Sep 17, 2024 3:00 pm JST Earnings

3415 TOKYO BASE Co., Ltd. 【J-GAAP】

Earnings Report

TOKYO BASE Co., Ltd. <3415> [TSE-P] announced its financial results after the market closed on September 17th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending January 2025 (February to July) expanded to 545 million yen, an increase of 32.0% compared to the same period last year. However, this progress accounts for 38.9% of the full-year plan of 1.4 billion yen, almost the same as the same period of the previous year of 36.8%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the August to January period (second half) is expected to grow by 20.6% from the same period last year, reaching 855 million yen.

In the most recent three-month period, from May to July (2Q), the consolidated ordinary profit amounted to 306 million yen, an increase of 2.0% compared to the same period last year. The operating profit margin significantly improved from 4.4% in the same period last year to 8.3%.

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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	8,896	-15	205	0	0.0	77.4	Sep 14, 2022	J-GAAP
Feb - Jul, 2023	9,656	316	413	193	4.2	36.8	Sep 14, 2023	J-GAAP
Feb - Jul, 2024	9,109	523	545	256	5.8	38.9	Sep 17, 2024	J-GAAP
YoY	-5.7%	+65.5%	+32.0%	+32.6%	+38.7%

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	ー	ー	ー	ー	－	0	Mar 18, 2024	J-GAAP
Feb - Jul, 2024 Results	9,109	523	545	256	5.8	0	Sep 17, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	10,330	565	709	142	3.1	4	Mar 18, 2024	J-GAAP
Aug - Jan, 2024 Guidance	10,891	1,077	855	494	11.5	5	Sep 17, 2024	J-GAAP
YoY	+5.4%	+90.6%	+20.6%	+247.9%	+270.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2023	19,181	215	265	-539	-11.8	2	Mar 15, 2023	J-GAAP
Jan, 2024	19,986	881	1,122	335	7.3	4	Mar 18, 2024	J-GAAP
Jan, 2025 Guidance	20,000	1,600	1,400	750	17.4	5	Mar 18, 2024	J-GAAP
YoY	+0.1%	+81.6%	+24.8%	+123.9%	+138.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	4,931	219	300	194	4.2	4.4	Sep 14, 2023	J-GAAP
Aug - Oct, 2023	4,648	50	170	-175	-4.0	1.1	Dec 15, 2023	J-GAAP
Nov - Jan, 2023	5,682	515	539	317	6.9	9.1	Mar 18, 2024	J-GAAP
Feb - Apr, 2024	4,770	163	239	100	2.2	3.4	Jun 14, 2024	J-GAAP
May - Jul, 2024	4,339	360	306	156	3.6	8.3	Sep 17, 2024	J-GAAP
YoY	-12.0%	+64.4%	+2.0%	-19.6%	-15.8%