TOYODA GOSEI CO.,LTD., First Half Net Income Decreases by 22%, July-September Net Income Decreases by 45%

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Thu Oct 31, 2024 2:20 pm JST Earnings

7282 TOYODA GOSEI CO.,LTD. 【IFRS】

Earnings Report

TOYODA GOSEI CO.,LTD. <7282> [TSE-P] announced its financial results (based on IFRS) in the afternoon session on October 31st (14:20). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 21.7% from the same period last year to 18.2 billion yen. The progress rate against the 37 billion yen full-year plan was 49.2%, almost the same as the five-year average of 51.2%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to drop by 33.3% from the same period last year to 18.7 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income dropped to 6.37 billion yen, a 45.3% decrease compared to the same period last year. The operating profit margin worsened from 6.6% in the same period last year to 4.6%.

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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	454,214	12,267	14,092	8,235	63.6	39.9	Oct 28, 2022	IFRS
Apr - Sep, 2023	522,849	33,691	34,124	23,270	179.7	47.5	Oct 31, 2023	IFRS
Apr - Sep, 2024	515,938	28,873	25,320	18,210	143.4	46.0	Oct 31, 2024	IFRS
YoY	-1.3%	-14.3%	-25.8%	-21.7%	-20.2%

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	－	50	Apr 26, 2024	IFRS
Apr - Sep, 2024 Results	515,938	28,873	25,320	18,210	143.4	50	Oct 31, 2024	IFRS
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	548,258	34,012	37,677	28,184	219.2	57	Apr 26, 2024	IFRS
Oct - Mar, 2024 Guidance	534,062	24,127	29,680	18,790	147.7	55	Oct 31, 2024	IFRS
YoY	-2.6%	-29.1%	-21.2%	-33.3%	-32.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	951,877	35,069	35,323	16,004	123.6	60	Apr 27, 2023	IFRS
Mar, 2024	1,071,107	67,703	71,801	51,454	400.2	95	Apr 26, 2024	IFRS
Mar, 2025 Guidance	1,050,000	53,000	55,000	37,000	290.9	105	Apr 26, 2024	IFRS
YoY	-2.0%	-21.7%	-23.4%	-28.1%	-27.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	263,523	17,305	17,525	11,654	90.0	6.6	Oct 31, 2023	IFRS
Oct - Dec, 2023	281,373	22,209	24,218	18,014	139.6	7.9	Feb 2, 2024	IFRS
Jan - Mar, 2024	266,885	11,803	13,459	10,170	79.1	4.4	Apr 26, 2024	IFRS
Apr - Jun, 2024	264,335	17,222	18,360	11,839	93.2	6.5	Jul 31, 2024	IFRS
Jul - Sep, 2024	251,603	11,651	6,960	6,371	50.2	4.6	Oct 31, 2024	IFRS
YoY	-4.5%	-32.7%	-60.3%	-45.3%	-44.3%