TESEC Corporation, The Current Fiscal Year Ordinary Profit Revised Downward by 70%, The Undetermined Dividend Set at 70 yen

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Tue Oct 29, 2024 3:30 pm JST Earnings

6337 TESEC Corporation 【J-GAAP】

Earnings Report

TESEC Corporation <6337> [TSE-S] announced its financial results after the market closed on October 29th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 84.2% from the same period last year to 169 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 69.6%, from the previous forecast of 1.58 billion yen to 480 million yen (compared to 2.13 billion yen in the previous period), leading to an increase in the profit decline rate from 26.1% to 77.5%.

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 October to March period (second half) is expected to significant drop by 70.8% from the same period last year to 311 million yen.

At the same time, the company has decided to implement a year-end lump-sum dividend of 70 yen for the current fiscal year, which was previously undecided (compared to 70 yen in the prior term).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 50 million yen, a 85.5% decrease compared to the same period last year. The operating profit margin decreased from 13.8% in the same period last year to 10.7%.

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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
Apr - Sep, 2022	4,369	1,179	1,612	1,321	233.9	64.1	Oct 25, 2022	J-GAAP
Apr - Sep, 2023	4,282	762	1,072	757	135.6	50.2	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	2,607	162	169	129	23.3	35.2	Oct 29, 2024	J-GAAP
YoY	-39.1%	-78.7%	-84.2%	-83.0%	-82.8%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	－	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	2,607	162	169	129	23.3	0	Oct 29, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	8,200	1,440	1,580	1,080	195.0	－	May 14, 2024	J-GAAP
Mar, 2025 New	5,700	380	480	340	61.4	70	Oct 29, 2024	J-GAAP
Revision Rate	-30.5%	-73.6%	-69.6%	-68.5%	-68.5%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	4,337	969	1,065	758	136.0	70	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	3,093	218	311	211	38.1	70	Oct 29, 2024	J-GAAP
YoY	-28.7%	-77.5%	-70.8%	-72.2%	-72.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	8,743	2,133	2,513	2,255	399.9	100	May 9, 2023	J-GAAP
Mar, 2024	8,619	1,731	2,137	1,515	271.9	70	May 14, 2024	J-GAAP
Mar, 2025 Guidance	5,700	380	480	340	61.4	70	Oct 29, 2024	J-GAAP
YoY	-33.9%	-78.0%	-77.5%	-77.6%	-77.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,769	245	344	250	44.8	13.8	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	2,189	449	422	291	52.1	20.5	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	2,148	520	643	467	83.8	24.2	May 14, 2024	J-GAAP
Apr - Jun, 2024	1,294	21	119	82	14.9	1.6	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	1,313	141	50	47	8.5	10.7	Oct 29, 2024	J-GAAP
YoY	-25.8%	-42.4%	-85.5%	-81.2%	-81.0%