OSAKA Titanium technologies Co.,Ltd, The Current Fiscal Year Ordinary Profit Revised Downward by 11%, Dividend Revised down by 5 yen

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Wed Nov 6, 2024 4:00 pm JST Earnings

5726 OSAKA Titanium technologies Co.,Ltd 【J-GAAP】

Earnings Report

OSAKA Titanium technologies Co.,Ltd <5726> [TSE-P] announced its financial results after the market closed on November 6th (16:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 6.2% from the same period last year to 5.01 billion yen.

In addition, the full-year ordinary profit has downwardly by 11.3%, from the previous forecast of 10.6 billion yen to 9.4 billion yen (compared to 9.36 billion yen in the previous period), leading to a reduction in the profit growth rate from 13.2% to 0.4%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to grow by 9.2% from the same period last year, reaching 4.38 billion yen.

Due to a decline in performance, the company has reduced its planned annual dividend for the current fiscal year from the original plan of 50 yen to 45 yen (compared to 70 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the ordinary profit significantly dropped to 1.29 billion yen, a 55.2% decrease compared to the same period last year. However, the operating profit margin jumped from 17.5% in the same period last year to 23.2%.

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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	19,632	2,017	2,906	2,192	59.6	61.5	Nov 2, 2022	J-GAAP
Apr - Sep, 2023	26,991	3,939	5,349	4,502	122.3	57.1	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	26,224	6,276	5,019	3,523	95.8	53.4	Nov 6, 2024	J-GAAP
YoY	-2.8%	+59.3%	-6.2%	-21.7%	-21.7%

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	26,300	5,000	4,700	3,200	87.0	25	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	26,224	6,276	5,019	3,523	95.8	25	Nov 6, 2024	J-GAAP
Revision Rate	-0.3%	+25.5%	+6.8%	+10.1%	+10.1%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	57,000	11,000	10,600	7,100	192.9	50	May 13, 2024	J-GAAP
Mar, 2025 New	53,500	10,400	9,400	6,100	165.8	45	Nov 6, 2024	J-GAAP
Revision Rate	-6.1%	-5.5%	-11.3%	-14.1%	-14.1%

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	28,331	4,349	4,011	5,187	141.0	50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	27,276	4,124	4,381	2,577	70.0	20	Nov 6, 2024	J-GAAP
YoY	-3.7%	-5.2%	+9.2%	-50.3%	-50.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	43,074	4,780	4,723	4,388	119.3	35	May 12, 2023	J-GAAP
Mar, 2024	55,322	8,288	9,360	9,689	263.3	70	May 13, 2024	J-GAAP
Mar, 2025 Guidance	53,500	10,400	9,400	6,100	165.8	45	Nov 6, 2024	J-GAAP
YoY	-3.3%	+25.5%	+0.4%	-37.0%	-37.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	12,861	2,248	2,880	2,429	66.0	17.5	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	14,325	2,433	1,348	1,130	30.7	17.0	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	14,006	1,916	2,663	4,057	110.3	13.7	May 13, 2024	J-GAAP
Apr - Jun, 2024	12,466	3,091	3,729	2,568	69.8	24.8	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	13,758	3,185	1,290	955	26.0	23.2	Nov 6, 2024	J-GAAP
YoY	+7.0%	+41.7%	-55.2%	-60.7%	-60.7%