TOYOTA INDUSTRIES CORPORATION, The Current Fiscal Year Net Income Revised Downward by 6%

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Thu Oct 31, 2024 11:40 am JST Earnings

6201 TOYOTA INDUSTRIES CORPORATION 【IFRS】

Earnings Report

TOYOTA INDUSTRIES CORPORATION <6201> [TSE-P] announced its financial results (based on IFRS) at noon (11:40) on October 31st. The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 6.2% from the same period last year, reaching 147 billion yen.

However, the full-year consolidated net income has downwardly by 5.8%, from the previous forecast of 260 billion yen to 245 billion yen (compared to 228 billion yen in the previous period), leading to a reduction in the profit growth rate from 13.6% to 7.1%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 8.5% from the same period last year, reaching 97.5 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income dropped to 36.2 billion yen, a 30.1% decrease compared to the same period last year. The operating profit margin worsened from 7.3% in the same period last year to 5.9%.

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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	1,602,496	92,010	144,958	106,888	344.3	55.1	Oct 28, 2022	IFRS
Apr - Sep, 2023	1,837,423	122,052	180,532	138,808	447.1	58.4	Oct 31, 2023	IFRS
Apr - Sep, 2024	2,015,491	126,314	192,840	147,421	477.5	59.3	Oct 31, 2024	IFRS
YoY	+9.7%	+3.5%	+6.8%	+6.2%	+6.8%

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	ー	ー	ー	ー	－	140	Apr 26, 2024	IFRS
Apr - Sep, 2024 Results	2,015,491	126,314	192,840	147,421	477.5	140	Oct 31, 2024	IFRS
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	3,900,000	250,000	355,000	260,000	854.0	280	Apr 26, 2024	IFRS
Mar, 2025 New	3,900,000	220,000	325,000	245,000	804.7	280	Oct 31, 2024	IFRS
Revision Rate	0.0%	-12.0%	-8.5%	-5.8%	-5.8%

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	1,995,782	78,352	128,658	89,970	289.8	140	Apr 26, 2024	IFRS
Oct - Mar, 2024 Guidance	1,884,509	93,686	132,160	97,579	320.5	140	Oct 31, 2024	IFRS
YoY	-5.6%	+19.6%	+2.7%	+8.5%	+10.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	3,379,891	169,904	262,967	192,861	621.2	190	Apr 27, 2023	IFRS
Mar, 2024	3,833,205	200,404	309,190	228,778	736.9	240	Apr 26, 2024	IFRS
Mar, 2025 Guidance	3,900,000	220,000	325,000	245,000	804.7	280	Oct 31, 2024	IFRS
YoY	+1.7%	+9.8%	+5.1%	+7.1%	+9.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	947,968	69,543	68,923	51,830	166.9	7.3	Oct 31, 2023	IFRS
Oct - Dec, 2023	990,144	78,859	121,727	91,993	296.3	8.0	Feb 2, 2024	IFRS
Jan - Mar, 2024	1,005,638	-507	6,931	-2,023	-6.5	-0.1	Apr 26, 2024	IFRS
Apr - Jun, 2024	1,025,758	67,896	139,888	111,206	358.2	6.6	Jul 31, 2024	IFRS
Jul - Sep, 2024	989,733	58,418	52,952	36,215	117.3	5.9	Oct 31, 2024	IFRS
YoY	+4.4%	-16.0%	-23.2%	-30.1%	-29.7%