TAKACHIHO KOHEKI CO.,LTD., First Half Ordinary Profit Decreases by 23%, July-September Ordinary Profit Decreases by 63%

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Tue Nov 5, 2024 3:30 pm JST Earnings

2676 TAKACHIHO KOHEKI CO.,LTD. 【J-GAAP】

Earnings Report

TAKACHIHO KOHEKI CO.,LTD. <2676> [TSE-P] announced its financial results after the market closed on November 5th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 23.3% from the same period last year to 811 million yen. The progress rate against the 2 billion yen full-year plan was 40.6%, also falling below the five-year average of 44.4%.

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 expand by 52.8% from the same period last year, reaching 1.18 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 180 million yen, a 62.7% decrease compared to the same period last year. However, the operating profit margin improved from 6.0% in the same period last year to 6.8%.

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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	11,118	584	894	657	73.5	56.3	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	12,729	713	1,057	717	79.2	57.6	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	13,314	936	811	594	65.1	40.6	Nov 5, 2024	J-GAAP
YoY	+4.6%	+31.3%	-23.3%	-17.2%	-17.8%

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	12,400	770	750	540	58.1	58	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	13,314	936	811	594	65.1	58	Nov 5, 2024	J-GAAP
Revision Rate	+7.4%	+21.6%	+8.1%	+10.0%	+12.0%

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	12,495	752	778	720	79.4	105	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	13,586	1,114	1,189	896	96.4	102	Nov 5, 2024	J-GAAP
YoY	+8.7%	+48.1%	+52.8%	+24.4%	+21.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	23,360	1,376	1,588	1,205	134.7	133	May 12, 2023	J-GAAP
Mar, 2024	25,224	1,465	1,835	1,437	158.5	158	May 10, 2024	J-GAAP
Mar, 2025 Guidance	26,900	2,050	2,000	1,490	160.2	160	May 10, 2024	J-GAAP
YoY	+6.6%	+39.9%	+9.0%	+3.7%	+1.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,649	399	483	324	35.8	6.0	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	6,231	267	210	304	33.5	4.3	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	6,264	485	568	416	45.9	7.7	May 10, 2024	J-GAAP
Apr - Jun, 2024	6,421	464	631	458	50.4	7.2	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	6,893	472	180	136	14.9	6.8	Nov 5, 2024	J-GAAP
YoY	+3.7%	+18.3%	-62.7%	-58.0%	-58.4%