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TOPY INDUSTRIES,LIMITED, The Current Fiscal Year Ordinary Profit Revised Downward by 28%

Wed Nov 6, 2024 1:30 pm JST Earnings

7231 TOPY INDUSTRIES,LIMITED 【J-GAAP】

Earnings Report

TOPY INDUSTRIES,LIMITED <7231> [TSE-P] announced its financial results in the afternoon session on November 6th (13:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 82.2% from the same period last year to 870 million yen, fell short of the previous forecast of 1.9 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 27.8%, from the previous forecast of 9 billion yen to 6.5 billion yen (compared to 10.4 billion yen in the previous period), leading to an increase in the profit decline rate from 14.0% to 37.9%.

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 1.0% from the same period last year, reaching 5.63 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 494 million yen (compared to a profit of 2.53 billion yen in the same period last year). The operating profit margin worsened from 2.9% in the same period last year to 0.6%.

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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 156,109 1,540 2,794 2,082 91.0 34.7 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 165,938 3,985 4,888 3,381 148.1 46.7 Nov 7, 2023 J-GAAP
Apr - Sep, 2024 148,532 602 870 748 32.8 13.4 Nov 6, 2024 J-GAAP
YoY -10.5% -84.9% -82.2% -77.9% -77.9%

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 154,000 1,800 1,900 1,900 83.2 30 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 148,532 602 870 748 32.8 30 Nov 6, 2024 J-GAAP
Revision Rate -3.6% -66.6% -54.2% -60.6% -60.6%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 317,000 8,600 9,000 7,200 326.5 103 May 10, 2024 J-GAAP
Mar, 2025 New 301,000 6,200 6,500 5,100 231.3 103 Nov 6, 2024 J-GAAP
Revision Rate -5.0% -27.9% -27.8% -29.2% -29.2%

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 168,054 6,455 5,574 1,295 56.7 73 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 152,468 5,598 5,630 4,352 197.3 73 Nov 6, 2024 J-GAAP
YoY -9.3% -13.3% +1.0% +236.1% +247.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 334,496 7,175 8,043 6,321 276.5 88 May 10, 2023 J-GAAP
Mar, 2024 333,992 10,440 10,462 4,676 204.9 103 May 10, 2024 J-GAAP
Mar, 2025 Guidance 301,000 6,200 6,500 5,100 231.3 103 Nov 6, 2024 J-GAAP
YoY -9.9% -40.6% -37.9% +9.1% +12.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 84,416 2,418 2,530 1,647 72.2 2.9 Nov 7, 2023 J-GAAP
Oct - Dec, 2023 90,347 4,984 4,808 905 39.7 5.5 Feb 6, 2024 J-GAAP
Jan - Mar, 2024 77,707 1,471 766 390 17.1 1.9 May 10, 2024 J-GAAP
Apr - Jun, 2024 73,636 135 1,364 725 31.8 0.2 Aug 2, 2024 J-GAAP
Jul - Sep, 2024 74,896 467 -494 23 1.0 0.6 Nov 6, 2024 J-GAAP
YoY -11.3% -80.7% － -98.6% -98.6%

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