Togami Electric Mfg. Co.,Ltd., First Half Ordinary Profit Increases by 28%

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Thu Nov 7, 2024 3:00 pm JST Earnings

6643 Togami Electric Mfg. Co.,Ltd. 【J-GAAP】

Earnings Report

Togami Electric Mfg. Co.,Ltd. <6643> [TSE-S] announced its financial results in the afternoon session on November 7th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 27.8% from the same period last year, reaching 1.36 billion yen. The progress rate against the 2.85 billion yen full-year plan was 47.9%, exceeding the five-year average of 37.0%.

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 decrease by 24.3% from the same period last year to 1.48 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 571 million yen, a 17.5% decrease compared to the same period last year. However, the operating profit margin improved from 8.9% in the same period last year to 10.1%.

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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	11,391	407	725	541	109.4	34.4	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	12,704	840	1,068	706	142.6	35.3	Nov 1, 2023	J-GAAP
Apr - Sep, 2024	12,829	1,315	1,365	954	193.9	47.9	Nov 7, 2024	J-GAAP
YoY	+1.0%	+56.5%	+27.8%	+35.1%	+36.0%

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	12,800	1,300	1,350	950	197.0	60	Nov 1, 2024	J-GAAP
Apr - Sep, 2024 Results	12,829	1,315	1,365	954	193.9	60	Nov 7, 2024	J-GAAP
Revision Rate	+0.2%	+1.2%	+1.1%	+0.4%	-1.6%

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	14,027	1,854	1,961	1,384	279.4	70	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	13,971	1,385	1,485	1,046	216.9	80	Nov 7, 2024	J-GAAP
YoY	-0.4%	-25.3%	-24.3%	-24.4%	-22.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	24,805	1,762	2,108	1,433	289.3	85	May 9, 2023	J-GAAP
Mar, 2024	26,731	2,694	3,029	2,090	421.9	110	May 10, 2024	J-GAAP
Mar, 2025 Guidance	26,800	2,700	2,850	2,000	414.8	140	Nov 1, 2024	J-GAAP
YoY	+0.3%	+0.2%	-5.9%	-4.3%	-1.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,955	616	692	477	96.4	8.9	Nov 1, 2023	J-GAAP
Oct - Dec, 2023	7,162	1,032	1,027	725	146.4	14.4	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	6,865	822	934	659	133.0	12.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	6,381	664	794	562	113.6	10.4	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	6,448	651	571	392	79.7	10.1	Nov 7, 2024	J-GAAP
YoY	-7.3%	+5.7%	-17.5%	-17.8%	-17.3%