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

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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%