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TAMAI STEAMSHIP CO., LTD., The Current Fiscal Year Net Income Revised Upward to an Unexpected 3.4 times Increase, Highest in Three Terms, The Undetermined Dividend Set at 80 yen

Thu Nov 7, 2024 2:30 pm JST Earnings

9127 TAMAI STEAMSHIP CO., LTD. 【J-GAAP】

Earnings Report

TAMAI STEAMSHIP CO., LTD. <9127> [TSE-S] announced its financial results in the afternoon session on November 7th (14:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 18.0% from the same period last year, reaching 367 million yen.

In addition, the full-year consolidated net income has been revised upward by 6.0 times, from the previous forecast of 420 million yen to 2.52 billion yen (compared to 731 million yen in the previous period), reaches new record high for the first time in three terms, turning to a 3.4 times increase in the consolidated net income outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to surge by 5.1 times that of the same period last year, reaching 2.15 billion yen.

In light of the strong performance, the company has decided to implement a year-end lump-sum dividend of 80 yen for the current fiscal year, which was previously undecided (compared to 80 yen in the prior term).

In the most recent three-month period, from July to September (2Q), the consolidated net income increased by 63.8% from the same period last year, reaching 113 million yen. The operating profit margin drastically improved from 4.0% in the same period last year to 15.0%.

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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 4,561 1,165 1,263 880 456.3 106.6 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 3,429 343 442 311 161.3 44.4 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 2,780 445 448 367 190.3 54.0 Nov 7, 2024 J-GAAP
YoY -18.9% +29.7% +1.4% +18.0% +18.0%

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 3,100 470 470 360 186.5 － May 15, 2024 J-GAAP
Apr - Sep, 2024 Results 2,780 445 448 367 190.3 － Nov 7, 2024 J-GAAP
Revision Rate -10.3% -5.3% -4.7% +1.9% +2.0%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 6,000 640 640 420 217.6 － May 15, 2024 J-GAAP
Mar, 2025 New 5,300 840 830 2,520 1,305.6 80 Nov 7, 2024 J-GAAP
Revision Rate -11.7% +31.3% +29.7% +500.0% +500.0%

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 2,790 527 553 420 217.8 80 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 2,520 395 382 2,153 1,115.5 80 Nov 7, 2024 J-GAAP
YoY -9.7% -25.0% -30.9% +412.6% +412.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 7,307 1,316 1,185 820 425.3 80 May 15, 2023 J-GAAP
Mar, 2024 6,219 870 995 731 379.0 80 May 15, 2024 J-GAAP
Mar, 2025 Guidance 5,300 840 830 2,520 1,305.6 80 Nov 7, 2024 J-GAAP
YoY -14.8% -3.4% -16.6% +244.7% +244.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 1,565 63 87 69 35.8 4.0 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 1,605 344 305 198 102.7 21.4 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 1,185 183 248 222 115.1 15.4 May 15, 2024 J-GAAP
Apr - Jun, 2024 1,430 242 339 254 131.7 16.9 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 1,350 203 109 113 58.6 15.0 Nov 7, 2024 J-GAAP
YoY -13.7% +222.2% +25.3% +63.8% +63.7%

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