TOYO SHUTTER CO.,LTD., First Half Ordinary Profit Decreases by 33%

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Wed Oct 30, 2024 4:00 pm JST Earnings

5936 TOYO SHUTTER CO.,LTD. 【J-GAAP】

Earnings Report

TOYO SHUTTER CO.,LTD. <5936> [TSE-S] announced its financial results after the market closed on October 30th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 33.3% from the same period last year to 381 million yen, fell short of the previous forecast of 560 million yen.

The progress rate against the 1.35 billion yen full-year plan was 28.2%, also falling below the five-year average of 33.2%.

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 grow by 21.7% from the same period last year, reaching 969 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 8.3% from the same period last year, reaching 312 million yen. The operating profit margin improved from 5.9% in the same period last year to 6.4%.

Kabutan News

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	9,202	20	-11	-28	-4.5	ー	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	10,338	610	571	369	58.3	41.8	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	9,646	425	381	243	38.5	28.2	Oct 30, 2024	J-GAAP
YoY	-6.7%	-30.3%	-33.3%	-34.1%	-34.0%

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	9,500	600	560	380	60.0	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	9,646	425	381	243	38.5	0	Oct 30, 2024	J-GAAP
Revision Rate	+1.5%	-29.2%	-32.0%	-36.1%	-35.8%

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	11,149	870	796	590	93.2	31	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	10,854	1,025	969	657	103.7	42	Oct 30, 2024	J-GAAP
YoY	-2.6%	+17.8%	+21.7%	+11.4%	+11.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	20,687	865	813	559	88.2	18	May 12, 2023	J-GAAP
Mar, 2024	21,487	1,480	1,367	959	151.5	31	May 13, 2024	J-GAAP
Mar, 2025 Guidance	20,500	1,450	1,350	900	142.1	42	May 13, 2024	J-GAAP
YoY	-4.6%	-2.0%	-1.2%	-6.2%	-6.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	5,273	310	288	185	29.2	5.9	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	5,558	374	375	245	38.7	6.7	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	5,591	496	421	345	54.5	8.9	May 13, 2024	J-GAAP
Apr - Jun, 2024	4,491	94	69	39	6.2	2.1	Jul 29, 2024	J-GAAP
Jul - Sep, 2024	5,155	331	312	204	32.3	6.4	Oct 30, 2024	J-GAAP
YoY	-2.2%	+6.8%	+8.3%	+10.3%	+10.6%