TORAY INDUSTRIES,INC., The Current Fiscal Year Net Income Revised Upward by 9%

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Thu Nov 7, 2024 12:30 pm JST Earnings

3402 TORAY INDUSTRIES,INC. 【IFRS】

Earnings Report

TORAY INDUSTRIES,INC. <3402> [TSE-P] announced its financial results (based on IFRS) at noon (12:30) on November 7th. The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 55.5 billion yen, an increase of 92.3% compared to the same period last year, exceeded the previous forecast of 46 billion yen.

In addition, the full-year consolidated net income has been revised upward by 8.6%, from the previous forecast of 81 billion yen to 88 billion yen (compared to 21.8 billion yen in the previous period), increasing the growth rate from 3.7 times to 4.0 times.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income/loss for the October to March period (second half) is expected to turn into a profit of 32.4 billion yen (compared to a loss of 6.97 billion yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated net income increased by 92.1% from the same period last year, reaching 28.6 billion yen. The operating profit margin improved from 3.8% in the same period last year to 6.3%.

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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	1,261,794	73,797	84,976	59,112	36.9	76.0	Nov 8, 2022	IFRS
Apr - Sep, 2023	1,199,376	44,445	48,979	28,867	18.0	82.2	Nov 8, 2023	IFRS
Apr - Sep, 2024	1,294,108	79,512	77,759	55,524	34.7	ー	Nov 7, 2024	IFRS
YoY	+7.9%	+78.9%	+58.8%	+92.3%	+92.2%

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	1,310,000	ー	ー	46,000	28.7	9	Aug 7, 2024	IFRS
Apr - Sep, 2024 Results	1,294,108	79,512	77,759	55,524	34.7	9	Nov 7, 2024	IFRS
Revision Rate	-1.2%	－	－	+20.7%	+20.7%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	2,620,000	ー	ー	81,000	51.1	18	May 13, 2024	IFRS
Mar, 2025 New	2,590,000	ー	ー	88,000	55.5	18	Nov 7, 2024	IFRS
Revision Rate	-1.1%	－	－	+8.6%	+8.6%

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	1,265,220	13,206	10,588	-6,970	-4.4	9	May 13, 2024	IFRS
Oct - Mar, 2024 Guidance	1,295,892	ー	ー	32,476	20.5	9	Nov 7, 2024	IFRS
YoY	+2.4%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,489,330	109,001	111,870	72,823	45.5	18	May 12, 2023	IFRS
Mar, 2024	2,464,596	57,651	59,567	21,897	13.7	18	May 13, 2024	IFRS
Mar, 2025 Guidance	2,590,000	ー	ー	88,000	55.5	18	Nov 7, 2024	IFRS
YoY	+5.1%	－	－	+301.9%	+305.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	621,319	23,651	23,872	14,921	9.3	3.8	Nov 8, 2023	IFRS
Oct - Dec, 2023	630,032	26,924	27,323	16,792	10.5	4.3	Feb 8, 2024	IFRS
Jan - Mar, 2024	635,188	-13,718	-16,735	-23,762	-14.8	-2.2	May 13, 2024	IFRS
Apr - Jun, 2024	637,726	38,075	41,803	26,859	16.8	6.0	Aug 7, 2024	IFRS
Jul - Sep, 2024	656,382	41,437	35,956	28,665	17.9	6.3	Nov 7, 2024	IFRS
YoY	+5.6%	+75.2%	+50.6%	+92.1%	+92.0%