TAKEUCHI MFG.CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 9%, Adds to Record High Profit Forecast

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Thu Oct 10, 2024 3:00 pm JST Earnings

6432 TAKEUCHI MFG.CO.,LTD. 【J-GAAP】

Earnings Report

TAKEUCHI MFG.CO.,LTD. <6432> [TSE-P] announced its financial results after the market closed on October 10th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) expanded to 23.1 billion yen, an increase of 35.8% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 9.1%, from the previous forecast of 38.5 billion yen to 42 billion yen (compared to 35.4 billion yen in the previous period), increasing the growth rate from 8.6% to 18.5%, further surpassing the previous forecast of record-high profits for four consecutive terms.

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 September to February period (second half) is expected to grow by 2.3% from the same period last year, reaching 18.8 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit increased by 31.8% from the same period last year, reaching 11.4 billion yen. The operating profit margin jumped from 16.2% in the same period last year to 25.3%.

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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
Mar - Aug, 2022	86,033	9,328	10,339	7,663	160.7	48.4	Oct 13, 2022	J-GAAP
Mar - Aug, 2023	105,176	16,969	17,072	12,670	265.8	48.2	Oct 12, 2023	J-GAAP
Mar - Aug, 2024	109,606	24,867	23,187	16,854	353.6	55.2	Oct 10, 2024	J-GAAP
YoY	+4.2%	+46.5%	+35.8%	+33.0%	+33.0%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar - Aug, 2024 Guidance	112,000	21,000	20,800	14,800	310.5	0	Apr 12, 2024	J-GAAP
Mar - Aug, 2024 Results	109,606	24,867	23,187	16,854	353.6	0	Oct 10, 2024	J-GAAP
Revision Rate	-2.1%	+18.4%	+11.5%	+13.9%	+13.9%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Prev	224,000	38,500	38,500	27,500	588.3	200	Apr 12, 2024	J-GAAP
Feb, 2025 New	215,500	44,500	42,000	30,000	641.8	200	Oct 10, 2024	J-GAAP
Revision Rate	-3.8%	+15.6%	+9.1%	+9.1%	+9.1%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	107,451	18,327	18,383	13,479	282.8	158	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	105,894	19,633	18,813	13,146	281.2	200	Oct 10, 2024	J-GAAP
YoY	-1.4%	+7.1%	+2.3%	-2.5%	-0.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	178,966	21,221	21,379	15,979	335.2	98	Apr 11, 2023	J-GAAP
Feb, 2024	212,627	35,296	35,455	26,149	548.6	158	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	215,500	44,500	42,000	30,000	641.8	200	Oct 10, 2024	J-GAAP
YoY	+1.4%	+26.1%	+18.5%	+14.7%	+17.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	52,137	8,427	8,689	6,567	137.8	16.2	Oct 12, 2023	J-GAAP
Sep - Nov, 2023	53,655	8,652	8,726	6,278	131.7	16.1	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	53,796	9,675	9,657	7,201	151.1	18.0	Apr 12, 2024	J-GAAP
Mar - May, 2024	55,174	11,121	11,739	8,464	177.6	20.2	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	54,432	13,746	11,448	8,390	176.0	25.3	Oct 10, 2024	J-GAAP
YoY	+4.4%	+63.1%	+31.8%	+27.8%	+27.8%