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

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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	169.2	46	Oct 31, 2024	J-GAAP
YoY	-4.4%	+18.5%	+15.4%	+19.2%	+18.3%

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	226.4	91	May 13, 2024	J-GAAP
YoY	-17.5%	-2.9%	-3.6%	-25.1%	-25.7%

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%