TOKYO ELECTRON DEVICE LIMITED, First Half Ordinary Profit Decreases by 2%

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Fri Nov 1, 2024 3:30 pm JST Earnings

2760 TOKYO ELECTRON DEVICE LIMITED 【J-GAAP】

Earnings Report

TOKYO ELECTRON DEVICE LIMITED <2760> [TSE-P] announced its financial results after the market closed on November 1st (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 6.14 billion yen, a 1.7% decrease compared to the same period last year. The progress rate against the 12.7 billion yen full-year plan was 48.4%, which was higher than the five-year average of 37.1%.

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 decrease by 14.6% from the same period last year to 6.55 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 2.53 billion yen, a 18.6% decrease compared to the same period last year. The operating profit margin worsened from 5.8% in the same period last year to 3.7%.

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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	111,769	6,573	5,208	3,584	120.6	41.7	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	119,698	7,153	6,253	4,551	152.2	44.9	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	111,712	6,292	6,147	4,305	143.2	48.4	Nov 1, 2024	J-GAAP
YoY	-6.7%	-12.0%	-1.7%	-5.4%	-5.9%

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	110,000	ー	5,500	3,800	126.5	52	Apr 30, 2024	J-GAAP
Apr - Sep, 2024 Results	111,712	6,292	6,147	4,305	143.2	52	Nov 1, 2024	J-GAAP
Revision Rate	+1.6%	－	+11.8%	+13.3%	+13.2%

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	123,190	8,275	7,669	5,435	181.5	74	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	118,288	ー	6,553	4,395	146.0	65	Nov 1, 2024	J-GAAP
YoY	-4.0%	－	-14.6%	-19.1%	-19.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	240,350	14,227	12,478	8,778	294.8	118.33	Apr 27, 2023	J-GAAP
Mar, 2024	242,888	15,428	13,922	9,986	333.5	135	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	230,000	ー	12,700	8,700	289.0	117	Apr 30, 2024	J-GAAP
YoY	-5.3%	－	-8.8%	-12.9%	-13.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	60,686	3,525	3,110	2,365	79.1	5.8	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	60,050	3,707	3,464	2,519	84.2	6.2	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	63,140	4,568	4,205	2,916	97.4	7.2	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	56,607	4,252	3,614	2,494	83.1	7.5	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	55,105	2,040	2,533	1,811	60.2	3.7	Nov 1, 2024	J-GAAP
YoY	-9.2%	-42.1%	-18.6%	-23.4%	-23.8%