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

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% -22.3%

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%

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