TOBA,INC., First Half Ordinary Profit Revised Downward to an Unexpected 7%Decrease

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Wed Nov 6, 2024 3:30 pm JST Earnings

7472 TOBA,INC. 【J-GAAP】

Earnings Report

TOBA,INC. <7472> [TSE-S] announced its financial results after the market closed on November 6th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 6.7% from the same period last year to 728 million yen, resulting in a decrease in profits compared to the previous forecast of a 17.3% increase.

The progress rate against the 2.04 billion yen full-year plan was 35.7%, also falling below the five-year average of 48.9%.

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 56.6% from the same period last year, reaching 1.31 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 389 million yen, a 9.5% decrease compared to the same period last year. The operating profit margin worsened from 5.8% in the same period last year to 5.2%.

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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	15,072	917	982	679	159.6	54.6	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	13,807	731	780	537	131.5	48.2	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	14,186	662	728	493	124.4	35.7	Nov 6, 2024	J-GAAP
YoY	+2.7%	-9.4%	-6.7%	-8.2%	-5.4%

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	14,500	870	915	620	156.8	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	14,186	662	728	493	124.4	0	Nov 6, 2024	J-GAAP
Revision Rate	-2.2%	-23.9%	-20.4%	-20.5%	-20.7%

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	14,642	783	838	537	132.5	120	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	16,814	1,288	1,312	887	224.4	130	Nov 6, 2024	J-GAAP
YoY	+14.8%	+64.5%	+56.6%	+65.2%	+69.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	29,482	1,694	1,800	1,429	340.1	120	May 11, 2023	J-GAAP
Mar, 2024	28,449	1,514	1,618	1,074	264.9	120	May 10, 2024	J-GAAP
Mar, 2025 Guidance	31,000	1,950	2,040	1,380	349.1	130	May 10, 2024	J-GAAP
YoY	+9.0%	+28.8%	+26.1%	+28.5%	+31.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,157	414	430	298	73.0	5.8	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	7,548	442	469	318	78.1	5.9	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	7,094	341	369	219	54.0	4.8	May 10, 2024	J-GAAP
Apr - Jun, 2024	7,040	291	339	229	57.5	4.1	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	7,146	371	389	264	66.6	5.2	Nov 6, 2024	J-GAAP
YoY	-0.2%	-10.4%	-9.5%	-11.4%	-8.7%