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TSUZUKI DENKI CO., LTD., First Half Ordinary Profit Decreases by 37%, July-September Ordinary Profit Decreases by 14%

Thu Oct 31, 2024 12:30 pm JST Earnings

8157 TSUZUKI DENKI CO., LTD. 【J-GAAP】

Earnings Report

TSUZUKI DENKI CO., LTD. <8157> [TSE-P] announced its financial results at noon (12:30) on October 31st. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 37.0% from the same period last year to 1.48 billion yen. The progress rate against the 6.25 billion yen full-year plan was 23.8%, almost the same as the five-year average of 21.6%.

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 grow by 15.4% from the same period last year, reaching 4.76 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.44 billion yen, a 14.3% decrease compared to the same period last year. However, the operating profit margin improved from 5.0% in the same period last year to 6.0%.

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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 55,046 1,021 1,154 700 39.4 21.5 Oct 28, 2022 J-GAAP
Apr - Sep, 2023 60,887 2,341 2,361 2,906 161.9 36.4 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 41,842 1,394 1,488 1,036 57.4 23.8 Oct 31, 2024 J-GAAP
YoY -31.3% -40.5% -37.0% -64.3% -64.6%

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 － 45 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 41,842 1,394 1,488 1,036 57.4 45 Oct 31, 2024 J-GAAP
Revision Rate － － － － －

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 63,969 4,098 4,125 2,571 143.1 52 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 61,158 4,856 4,762 3,064 169.1 46 Oct 31, 2024 J-GAAP
YoY -4.4% +18.5% +15.4% +19.2% +18.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 123,899 5,118 5,355 3,521 197.5 61 May 12, 2023 J-GAAP
Mar, 2024 124,856 6,439 6,486 5,477 304.8 90 May 13, 2024 J-GAAP
Mar, 2025 Guidance 103,000 6,250 6,250 4,100 226.3 91 May 13, 2024 J-GAAP
YoY -17.5% -2.9% -3.6% -25.1% -25.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 32,759 1,643 1,688 2,458 137.0 5.0 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 32,126 1,597 1,631 1,281 71.3 5.0 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 31,843 2,501 2,494 1,290 71.8 7.9 May 13, 2024 J-GAAP
Apr - Jun, 2024 18,771 1 41 1 0.1 0.0 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 23,071 1,393 1,447 1,035 57.3 6.0 Oct 31, 2024 J-GAAP
YoY -29.6% -15.2% -14.3% -57.9% -58.2%

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