TOSO CO., LTD., First Half Net Income Turns to Loss, July-September Net Income Decreases by 23%

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Wed Nov 6, 2024 3:30 pm JST Earnings

5956 TOSO CO., LTD. 【J-GAAP】

Earnings Report

TOSO CO., LTD. <5956> [TSE-S] announced its financial results after the market closed on November 6th (15:30). The consolidated net income/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 37 million yen (compared to a profit of 27 million yen in the same period last year).

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to expand by 44.9% from the same period last year, reaching 387 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income decreased to 72 million yen, a 22.6% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 2.6% in the same period last year to 2.4%.

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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	10,169	171	199	104	11.7	26.5	Nov 1, 2022	J-GAAP
Apr - Sep, 2023	10,305	46	89	27	3.1	16.7	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	10,533	-2	10	-37	-4.2	1.6	Nov 6, 2024	J-GAAP
YoY	+2.2%	－	-88.8%	－	－

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	ー	ー	ー	ー	－	5	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	10,533	-2	10	-37	-4.2	5	Nov 6, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	11,300	437	445	267	29.8	5	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	12,167	582	620	387	43.6	5	Nov 6, 2024	J-GAAP
YoY	+7.7%	+33.2%	+39.3%	+44.9%	+46.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	21,304	726	752	367	40.9	10	May 11, 2023	J-GAAP
Mar, 2024	21,605	483	534	294	32.8	10	May 10, 2024	J-GAAP
Mar, 2025 Guidance	22,700	580	630	350	39.5	10	May 10, 2024	J-GAAP
YoY	+5.1%	+20.1%	+18.0%	+19.0%	+20.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	5,451	144	152	93	10.5	2.6	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	5,526	199	207	128	14.3	3.6	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	5,774	238	238	139	15.5	4.1	May 10, 2024	J-GAAP
Apr - Jun, 2024	5,001	-136	-113	-109	-12.1	-2.7	Aug 1, 2024	J-GAAP
Jul - Sep, 2024	5,532	134	123	72	8.1	2.4	Nov 6, 2024	J-GAAP
YoY	+1.5%	-6.9%	-19.1%	-22.6%	-23.1%