TOKYO GAS CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 5%

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Wed Oct 30, 2024 2:00 pm JST Earnings

9531 TOKYO GAS CO.,LTD. 【J-GAAP】

Earnings Report

TOKYO GAS CO.,LTD. <9531> [TSE-P] announced its financial results in the afternoon session on October 30th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 80.6% from the same period last year to 28.7 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 4.5%, from the previous forecast of 111 billion yen to 106 billion yen (compared to 228 billion yen in the previous period), leading to an increase in the profit decline rate from 51.4% to 53.5%.

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 decrease by 4.0% from the same period last year to 77.2 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 1.64 billion yen, a 95.9% decrease compared to the same period last year. The operating profit margin drastically worsened from 5.9% in the same period last year to 2.1%.

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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	1,361,277	90,498	108,652	71,640	164.7	26.6	Oct 27, 2022	J-GAAP
Apr - Sep, 2023	1,272,731	129,740	147,645	103,983	245.8	64.7	Oct 26, 2023	J-GAAP
Apr - Sep, 2024	1,221,494	38,231	28,703	17,170	43.7	27.1	Oct 30, 2024	J-GAAP
YoY	-4.0%	-70.5%	-80.6%	-83.5%	-82.2%

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	－	35	Apr 25, 2024	J-GAAP
Apr - Sep, 2024 Results	1,221,494	38,231	28,703	17,170	43.7	35	Oct 30, 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	2,638,000	113,000	111,000	81,000	219.2	70	Jul 31, 2024	J-GAAP
Mar, 2025 New	2,653,000	125,000	106,000	81,000	219.2	70	Oct 30, 2024	J-GAAP
Revision Rate	+0.6%	+10.6%	-4.5%	0.0%	0.0%

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	1,391,787	90,568	80,534	65,953	159.9	37.50	Apr 25, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,431,506	86,769	77,297	63,830	172.7	35	Oct 30, 2024	J-GAAP
YoY	+2.9%	-4.2%	-4.0%	-3.2%	+8.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	3,289,634	421,477	408,846	280,916	647.0	65	Apr 26, 2023	J-GAAP
Mar, 2024	2,664,518	220,308	228,179	169,936	411.9	70	Apr 25, 2024	J-GAAP
Mar, 2025 Guidance	2,653,000	125,000	106,000	81,000	219.2	70	Oct 30, 2024	J-GAAP
YoY	-0.4%	-43.3%	-53.5%	-52.3%	-46.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	623,035	36,763	40,400	26,314	62.2	5.9	Oct 26, 2023	J-GAAP
Oct - Dec, 2023	629,890	33,128	22,900	11,572	27.7	5.3	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	761,897	57,440	57,634	54,381	131.8	7.5	Apr 25, 2024	J-GAAP
Apr - Jun, 2024	586,932	24,913	27,062	19,900	50.2	4.2	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	634,562	13,318	1,641	-2,730	-7.0	2.1	Oct 30, 2024	J-GAAP
YoY	+1.9%	-63.8%	-95.9%	－	－