TANABE ENGINEERING CORPORATION, First Half Ordinary Profit Increases by 22%, Current Fiscal Year Dividend Revised Upward by 10 yen

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Wed Nov 6, 2024 3:00 pm JST Earnings

1828 TANABE ENGINEERING CORPORATION 【J-GAAP】

Earnings Report

TANABE ENGINEERING CORPORATION <1828> [TSE-S] announced its financial results in the afternoon session on November 6th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 21.8% from the same period last year, reaching 1.9 billion yen. The progress rate against the 3.05 billion yen full-year plan was 62.6%, also surpassing the five-year average of 49.2%.

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 1.6% from the same period last year to 1.14 billion yen.

At the same time, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 60 yen to 70 yen (compared to 50 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 11.5% from the same period last year, reaching 1 billion yen. The operating profit margin improved from 7.3% in the same period last year to 7.8%.

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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	21,001	1,427	1,464	958	89.6	52.6	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	23,364	1,539	1,567	1,030	96.9	57.5	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	25,071	1,878	1,909	1,221	116.7	62.6	Nov 6, 2024	J-GAAP
YoY	+7.3%	+22.0%	+21.8%	+18.5%	+20.4%

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	－	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	25,071	1,878	1,909	1,221	116.7	0	Nov 6, 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	52,000	3,000	3,050	2,000	190.6	60	May 13, 2024	J-GAAP
Mar, 2025 New	52,000	3,000	3,050	2,000	190.6	70	Nov 6, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	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	28,478	1,138	1,159	865	82.0	50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	26,929	1,122	1,141	779	74.3	70	Nov 6, 2024	J-GAAP
YoY	-5.4%	-1.4%	-1.6%	-9.9%	-9.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	42,944	2,732	2,785	1,656	154.8	40	May 12, 2023	J-GAAP
Mar, 2024	51,842	2,677	2,726	1,895	179.7	50	May 13, 2024	J-GAAP
Mar, 2025 Guidance	52,000	3,000	3,050	2,000	190.6	70	Nov 6, 2024	J-GAAP
YoY	+0.3%	+12.1%	+11.9%	+5.5%	+6.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	12,362	901	904	609	57.3	7.3	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	14,215	154	166	109	10.3	1.1	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	14,263	984	993	756	71.7	6.9	May 13, 2024	J-GAAP
Apr - Jun, 2024	12,178	877	901	536	51.3	7.2	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	12,893	1,001	1,008	685	65.5	7.8	Nov 6, 2024	J-GAAP
YoY	+4.3%	+11.1%	+11.5%	+12.5%	+14.3%