TOSOH CORPORATION, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 2% Decrease, Dividend Revised Upward by 15 yen

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Tue Nov 5, 2024 1:00 pm JST Earnings

4042 TOSOH CORPORATION 【J-GAAP】

Earnings Report

TOSOH CORPORATION <4042> [TSE-P] announced its financial results in the afternoon session on November 5th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 45.1 billion yen, a 1.6% increase compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 12.1% decrease.

However, the full-year consolidated ordinary profit has downwardly by 4.1%, from the previous forecast of 98 billion yen to 94 billion yen (compared to 95.9 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 2.0% decrease in profit.

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 decrease by 5.1% from the same period last year to 48.8 billion yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 85 yen to 100 yen (compared to 85 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 17.7 billion yen, a 19.9% decrease compared to the same period last year. However, the operating profit margin improved from 7.5% in the same period last year to 10.0%.

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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	526,649	45,026	64,654	42,040	132.1	71.9	Nov 1, 2022	J-GAAP
Apr - Sep, 2023	485,679	32,104	44,389	26,716	83.9	46.3	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	527,623	47,387	45,106	24,941	78.3	48.0	Nov 5, 2024	J-GAAP
YoY	+8.6%	+47.6%	+1.6%	-6.6%	-6.7%

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	520,000	41,000	39,000	23,000	72.2	42.50	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	527,623	47,387	45,106	24,941	78.3	50	Nov 5, 2024	J-GAAP
Revision Rate	+1.5%	+15.6%	+15.7%	+8.4%	+8.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	1,090,000	100,000	98,000	59,000	185.2	85	May 13, 2024	J-GAAP
Mar, 2025 New	1,090,000	94,000	94,000	53,000	166.4	100	Nov 5, 2024	J-GAAP
Revision Rate	0.0%	-6.0%	-4.1%	-10.2%	-10.2%

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	519,961	47,741	51,531	30,608	96.2	45	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	562,377	46,613	48,894	28,059	88.1	50	Nov 5, 2024	J-GAAP
YoY	+8.2%	-2.4%	-5.1%	-8.3%	-8.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,064,376	74,606	89,983	50,335	158.1	80	May 12, 2023	J-GAAP
Mar, 2024	1,005,640	79,845	95,920	57,324	180.1	85	May 13, 2024	J-GAAP
Mar, 2025 Guidance	1,090,000	94,000	94,000	53,000	166.4	100	Nov 5, 2024	J-GAAP
YoY	+8.4%	+17.7%	-2.0%	-7.5%	-7.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	245,041	18,499	22,157	13,488	42.4	7.5	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	262,210	27,447	24,283	14,651	46.0	10.5	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	257,751	20,294	27,248	15,957	50.1	7.9	May 13, 2024	J-GAAP
Apr - Jun, 2024	252,862	19,816	27,359	16,232	51.0	7.8	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	274,761	27,571	17,747	8,709	27.4	10.0	Nov 5, 2024	J-GAAP
YoY	+12.1%	+49.0%	-19.9%	-35.4%	-35.4%