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TOPCON CORPORATION, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 10% Decrease

Wed Oct 30, 2024 3:00 pm JST Earnings

7732 TOPCON CORPORATION 【J-GAAP】

Earnings Report

TOPCON CORPORATION <7732> [TSE-P] announced its financial results after the market closed 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 88.8% from the same period last year to 381 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 48.4%, from the previous forecast of 15.5 billion yen to 8 billion yen (compared to 8.85 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 9.7% decrease in profit.

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 expand by 39.5% from the same period last year, reaching 7.61 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 764 million yen, a 50.9% decrease compared to the same period last year. However, the operating profit margin improved from 3.9% in the same period last year to 4.2%.

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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 102,715 9,336 9,428 6,032 57.3 52.9 Oct 28, 2022 J-GAAP
Apr - Sep, 2023 104,497 3,830 3,395 609 5.8 38.3 Oct 27, 2023 J-GAAP
Apr - Sep, 2024 105,497 2,974 381 61 0.6 4.8 Oct 30, 2024 J-GAAP
YoY +1.0% -22.3% -88.8% -90.0% -90.0%

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 － 20 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 105,497 2,974 381 61 0.6 20 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 230,000 18,000 15,500 9,500 90.1 42 May 10, 2024 J-GAAP
Mar, 2025 New 220,000 12,000 8,000 4,500 42.7 42 Oct 30, 2024 J-GAAP
Revision Rate -4.3% -33.3% -48.4% -52.6% -52.6%

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 112,000 7,374 5,462 4,331 41.1 22 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 114,503 9,026 7,619 4,439 42.1 22 Oct 30, 2024 J-GAAP
YoY +2.2% +22.4% +39.5% +2.5% +2.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 215,625 19,537 17,829 11,806 112.2 42 May 12, 2023 J-GAAP
Mar, 2024 216,497 11,204 8,857 4,940 46.9 42 May 10, 2024 J-GAAP
Mar, 2025 Guidance 220,000 12,000 8,000 4,500 42.7 42 Oct 30, 2024 J-GAAP
YoY +1.6% +7.1% -9.7% -8.9% -9.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 54,802 2,113 1,555 808 7.7 3.9 Oct 27, 2023 J-GAAP
Oct - Dec, 2023 52,363 2,674 1,193 -256 -2.4 5.1 Jan 29, 2024 J-GAAP
Jan - Mar, 2024 59,637 4,700 4,269 4,587 43.6 7.9 May 10, 2024 J-GAAP
Apr - Jun, 2024 51,405 678 -383 -950 -9.0 1.3 Jul 30, 2024 J-GAAP
Jul - Sep, 2024 54,092 2,296 764 1,011 9.6 4.2 Oct 30, 2024 J-GAAP
YoY -1.3% +8.7% -50.9% +25.1% +25.3%

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