TOWA CORPORATION, First Half Ordinary Profit Increases by 89%, July-September Ordinary Profit Increases by 73%

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Thu Nov 7, 2024 3:30 pm JST Earnings

6315 TOWA CORPORATION 【J-GAAP】

Earnings Report

TOWA CORPORATION <6315> [TSE-P] announced its financial results after the market closed on November 7th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 5.22 billion yen, an increase of 89.3% compared to the same period last year. However, The progress rate against the 12.6 billion yen full-year plan was 41.5%, almost the same as the five-year average of 43.7%.

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 grow by 16.7% from the same period last year, reaching 7.37 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 73.0% from the same period last year, reaching 2.8 billion yen. The operating profit margin jumped from 12.5% in the same period last year to 21.6%.

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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	28,783	5,863	6,490	4,768	63.6	63.6	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	21,265	2,388	2,763	1,958	26.1	30.4	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	27,398	5,261	5,229	3,826	51.0	41.5	Nov 7, 2024	J-GAAP
YoY	+28.8%	+120.3%	+89.3%	+95.4%	+95.5%

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	28,700	5,650	5,650	3,960	52.8	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	27,398	5,261	5,229	3,826	51.0	0	Nov 7, 2024	J-GAAP
Revision Rate	-4.5%	-6.9%	-7.5%	-3.4%	-3.4%

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	29,206	6,273	6,316	4,486	59.8	13.33	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	32,602	7,339	7,371	5,004	66.7	20	Nov 7, 2024	J-GAAP
YoY	+11.6%	+17.0%	+16.7%	+11.5%	+11.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	53,822	10,037	10,206	7,346	97.9	13.33	May 11, 2023	J-GAAP
Mar, 2024	50,471	8,661	9,079	6,444	85.9	13.33	May 10, 2024	J-GAAP
Mar, 2025 Guidance	60,000	12,600	12,600	8,830	117.7	20	Aug 29, 2024	J-GAAP
YoY	+18.9%	+45.5%	+38.8%	+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	11,754	1,468	1,624	1,176	15.7	12.5	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	10,767	1,687	1,555	1,154	15.4	15.7	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	18,439	4,586	4,761	3,332	44.4	24.9	May 10, 2024	J-GAAP
Apr - Jun, 2024	13,253	2,212	2,420	1,690	22.5	16.7	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	14,145	3,049	2,809	2,136	28.5	21.6	Nov 7, 2024	J-GAAP
YoY	+20.3%	+107.7%	+73.0%	+81.6%	+81.6%