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TOKAI ELECTRONICS CO.,LTD., First Half Ordinary Profit Decreases by 59%, July-September Ordinary Profit Decreases by 45%

Wed Oct 30, 2024 3:00 pm JST Earnings

8071 TOKAI ELECTRONICS CO.,LTD. 【J-GAAP】

Earnings Report

TOKAI ELECTRONICS CO.,LTD. <8071> [NSE-M] announced its financial results in the afternoon session on October 30th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 58.7% from the same period last year to 411 million yen. The progress rate against the 720 million yen full-year plan was 57.1%, also surpassing the five-year average of 48.6%.

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 October to March period (second half) is expected to significant drop by 53.5% from the same period last year to 309 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 239 million yen, a 45.4% decrease compared to the same period last year. The operating profit margin worsened from 2.8% in the same period last year to 2.0%.

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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 32,421 864 921 597 284.2 57.4 Oct 28, 2022 J-GAAP
Apr - Sep, 2023 31,385 961 994 640 303.7 60.0 Oct 30, 2023 J-GAAP
Apr - Sep, 2024 27,152 399 411 257 122.1 57.1 Oct 30, 2024 J-GAAP
YoY -13.5% -58.5% -58.7% -59.8% -59.8%

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 27,100 390 410 250 118.4 57 Oct 28, 2024 J-GAAP
Apr - Sep, 2024 Results 27,152 399 411 257 122.1 57 Oct 30, 2024 J-GAAP
Revision Rate +0.2% +2.3% +0.2% +2.8% +3.1%

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 29,448 643 664 -149 -70.8 57 Apr 26, 2024 J-GAAP
Oct - Mar, 2024 Guidance 30,848 301 309 173 81.9 57 Oct 30, 2024 J-GAAP
YoY +4.8% -53.2% -53.5% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 64,495 1,532 1,605 1,042 496.0 112 Apr 27, 2023 J-GAAP
Mar, 2024 60,833 1,604 1,658 491 233.2 114 Apr 26, 2024 J-GAAP
Mar, 2025 Guidance 58,000 700 720 430 203.6 114 Oct 28, 2024 J-GAAP
YoY -4.7% -56.4% -56.6% -12.4% -12.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 14,862 422 438 290 137.6 2.8 Oct 30, 2023 J-GAAP
Oct - Dec, 2023 15,158 333 344 205 97.3 2.2 Jan 30, 2024 J-GAAP
Jan - Mar, 2024 14,290 310 320 -354 -168.1 2.2 Apr 26, 2024 J-GAAP
Apr - Jun, 2024 13,720 137 172 62 29.6 1.0 Jul 30, 2024 J-GAAP
Jul - Sep, 2024 13,432 262 239 195 92.6 2.0 Oct 30, 2024 J-GAAP
YoY -9.6% -37.9% -45.4% -32.8% -32.7%

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