TOKYO SEIMITSU CO., LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 4%, Dividend Revised Upward by 12 yen

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Fri Nov 1, 2024 3:00 pm JST Earnings

7729 TOKYO SEIMITSU CO., LTD. 【J-GAAP】

Earnings Report

TOKYO SEIMITSU CO., LTD. <7729> [TSE-P] announced its financial results after the market closed on November 1st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 9.0% from the same period last year, reaching 13.1 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 3.7%, from the previous forecast of 27 billion yen to 28 billion yen (compared to 26.4 billion yen in the previous period), increasing the growth rate from 2.1% to 5.8%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 3.2% from the same period last year, reaching 14.8 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 216 yen to 228 yen (compared to 192 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 19.9% from the same period last year, reaching 8.82 billion yen. The operating profit margin rose from 19.3% in the same period last year to 22.3%.

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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	71,076	15,685	16,561	11,908	292.9	46.9	Nov 2, 2022	J-GAAP
Apr - Sep, 2023	63,537	11,389	12,072	8,548	212.2	45.6	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	71,439	13,405	13,158	13,550	335.0	47.0	Nov 1, 2024	J-GAAP
YoY	+12.4%	+17.7%	+9.0%	+58.5%	+57.9%

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	70,000	13,000	13,000	12,000	296.6	108	Aug 2, 2024	J-GAAP
Apr - Sep, 2024 Results	71,439	13,405	13,158	13,550	335.0	114	Nov 1, 2024	J-GAAP
Revision Rate	+2.1%	+3.1%	+1.2%	+12.9%	+12.9%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	143,000	27,000	27,000	21,800	538.8	216	Aug 2, 2024	J-GAAP
Mar, 2025 New	145,000	28,000	28,000	23,000	568.5	228	Nov 1, 2024	J-GAAP
Revision Rate	+1.4%	+3.7%	+3.7%	+5.5%	+5.5%

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	71,143	13,918	14,381	10,830	268.5	103	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	73,561	14,595	14,842	9,450	233.6	114	Nov 1, 2024	J-GAAP
YoY	+3.4%	+4.9%	+3.2%	-12.7%	-13.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	146,801	34,494	35,297	23,630	581.3	235	May 12, 2023	J-GAAP
Mar, 2024	134,680	25,307	26,453	19,378	480.5	192	May 10, 2024	J-GAAP
Mar, 2025 Guidance	145,000	28,000	28,000	23,000	568.5	228	Nov 1, 2024	J-GAAP
YoY	+7.7%	+10.6%	+5.8%	+18.7%	+18.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	36,919	7,139	7,362	5,303	131.6	19.3	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	25,358	2,997	2,986	2,067	51.3	11.8	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	45,785	10,921	11,395	8,763	217.3	23.9	May 10, 2024	J-GAAP
Apr - Jun, 2024	29,626	4,083	4,329	3,554	87.9	13.8	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	41,813	9,322	8,829	9,996	247.1	22.3	Nov 1, 2024	J-GAAP
YoY	+13.3%	+30.6%	+19.9%	+88.5%	+87.8%