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TOYO WHARF & WAREHOUSE CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 14%

Fri Nov 1, 2024 4:00 pm JST Earnings

9351 TOYO WHARF & WAREHOUSE CO.,LTD. 【J-GAAP】

Earnings Report

TOYO WHARF & WAREHOUSE CO.,LTD. <9351> [TSE-S] announced its financial results after the market closed on November 1st (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 16.3% from the same period last year to 627 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 14.3%, from the previous forecast of 1.4 billion yen to 1.2 billion yen (compared to 1.15 billion yen in the previous period), leading to a reduction in the profit growth rate from 21.5% to 4.2%.

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 expand by 42.2% from the same period last year, reaching 573 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 81 million yen, a 67.7% decrease compared to the same period last year. The operating profit margin worsened from 3.2% in the same period last year to 1.0%.

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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 19,821 1,002 1,327 927 120.5 71.9 Nov 2, 2022 J-GAAP
Apr - Sep, 2023 17,808 686 749 483 64.6 65.0 Nov 1, 2023 J-GAAP
Apr - Sep, 2024 17,537 494 627 468 63.2 52.3 Nov 1, 2024 J-GAAP
YoY -1.5% -28.0% -16.3% -3.1% -2.2%

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 － 25 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 17,537 494 627 468 63.2 25 Nov 1, 2024 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 36,000 1,200 1,400 1,000 134.9 55 May 14, 2024 J-GAAP
Mar, 2025 New 35,000 1,000 1,200 1,000 134.9 55 Nov 1, 2024 J-GAAP
Revision Rate -2.8% -16.7% -14.3% 0.0% 0.0%

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 16,889 292 403 497 66.7 30 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 17,463 506 573 532 71.8 30 Nov 1, 2024 J-GAAP
YoY +3.4% +73.3% +42.2% +7.0% +7.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 38,086 1,537 1,846 1,266 165.2 55 May 15, 2023 J-GAAP
Mar, 2024 34,697 978 1,152 980 131.6 55 May 14, 2024 J-GAAP
Mar, 2025 Guidance 35,000 1,000 1,200 1,000 134.9 55 Nov 1, 2024 J-GAAP
YoY +0.9% +2.2% +4.2% +2.0% +2.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 8,716 281 251 155 20.7 3.2 Nov 1, 2023 J-GAAP
Oct - Dec, 2023 8,487 207 271 168 22.5 2.4 Feb 5, 2024 J-GAAP
Jan - Mar, 2024 8,402 85 132 329 44.2 1.0 May 14, 2024 J-GAAP
Apr - Jun, 2024 8,996 410 546 319 43.1 4.6 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 8,541 84 81 149 20.1 1.0 Nov 1, 2024 J-GAAP
YoY -2.0% -70.1% -67.7% -3.9% -2.9%

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