TOTETSU KOGYO CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 12%

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Thu Nov 7, 2024 3:30 pm JST Earnings

1835 TOTETSU KOGYO CO.,LTD. 【J-GAAP】

Earnings Report

TOTETSU KOGYO CO.,LTD. <1835> [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 4.39 billion yen, an increase of 38.2% compared to the same period last year, exceeded the previous forecast of 3.4 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 11.7%, from the previous forecast of 12.8 billion yen to 14.3 billion yen (compared to 12.1 billion yen in the previous period), increasing the growth rate from 5.7% to 18.1%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 11.0% from the same period last year, reaching 9.9 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 21.0% from the same period last year, reaching 2.82 billion yen. The operating profit margin improved from 7.1% in the same period last year to 7.8%.

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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	48,935	2,420	2,622	2,065	60.0	27.6	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	56,649	2,953	3,181	2,168	63.0	26.3	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	61,989	4,120	4,396	3,227	93.7	30.7	Nov 7, 2024	J-GAAP
YoY	+9.4%	+39.5%	+38.2%	+48.8%	+48.8%

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	58,000	3,200	3,400	2,400	69.7	50	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	61,989	4,120	4,396	3,227	93.7	50	Nov 7, 2024	J-GAAP
Revision Rate	+6.9%	+28.7%	+29.3%	+34.5%	+34.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	147,000	12,500	12,800	9,000	261.4	100	May 15, 2024	J-GAAP
Mar, 2025 New	160,000	14,000	14,300	10,000	290.4	100	Nov 7, 2024	J-GAAP
Revision Rate	+8.8%	+12.0%	+11.7%	+11.1%	+11.1%

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	85,196	8,798	8,925	6,128	178.0	50	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	98,011	9,880	9,904	6,773	196.7	50	Nov 7, 2024	J-GAAP
YoY	+15.0%	+12.3%	+11.0%	+10.5%	+10.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	124,661	9,070	9,487	7,905	229.7	92	May 12, 2023	J-GAAP
Mar, 2024	141,845	11,751	12,106	8,296	241.0	97	May 15, 2024	J-GAAP
Mar, 2025 Guidance	160,000	14,000	14,300	10,000	290.4	100	Nov 7, 2024	J-GAAP
YoY	+12.8%	+19.1%	+18.1%	+20.5%	+20.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	32,253	2,280	2,336	1,650	47.9	7.1	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	35,713	3,807	3,925	2,707	78.6	10.7	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	49,483	4,991	5,000	3,421	99.4	10.1	May 15, 2024	J-GAAP
Apr - Jun, 2024	26,207	1,327	1,570	1,421	41.3	5.1	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	35,782	2,793	2,826	1,806	52.5	7.8	Nov 7, 2024	J-GAAP
YoY	+10.9%	+22.5%	+21.0%	+9.5%	+9.4%