TOKYU CONSTRUCTION CO.,LTD., First Half Ordinary Profit Turns to Loss, July-September Ordinary Profit Turns to Loss

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Thu Nov 7, 2024 4:00 pm JST Earnings

1720 TOKYU CONSTRUCTION CO.,LTD. 【J-GAAP】

Earnings Report

TOKYU CONSTRUCTION CO.,LTD. <1720> [TSE-P] announced its financial results after the market closed on November 7th (16:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 630 million yen (compared to a profit of 2.84 billion yen in the same period last year).

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 6.7% from the same period last year to 6.43 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 148 million yen (compared to a profit of 1.91 billion yen in the same period last year). The operating profit margin worsened from 2.5% in the same period last year to 1.5%.

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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	128,842	166	294	-284	-2.7	5.9	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	134,682	2,043	2,843	2,510	23.9	29.2	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	118,626	-5	-630	-59	-0.6	ー	Nov 7, 2024	J-GAAP
YoY	-11.9%	－	－	－	－

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	ー	ー	ー	ー	－	19	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	118,626	-5	-630	-59	-0.6	19	Nov 7, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	150,999	6,112	6,893	4,756	45.2	19	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	191,374	5,005	6,430	4,459	42.2	19	Nov 7, 2024	J-GAAP
YoY	+26.7%	-18.1%	-6.7%	-6.2%	-6.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	288,867	5,107	5,020	5,245	50.0	36	May 10, 2023	J-GAAP
Mar, 2024	285,681	8,155	9,736	7,266	69.0	37	May 9, 2024	J-GAAP
Mar, 2025 Guidance	310,000	5,000	5,800	4,400	41.6	38	May 9, 2024	J-GAAP
YoY	+8.5%	-38.7%	-40.4%	-39.4%	-39.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	71,822	1,814	1,915	1,741	16.5	2.5	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	70,516	571	631	487	4.6	0.8	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	80,483	5,541	6,262	4,269	40.5	6.9	May 9, 2024	J-GAAP
Apr - Jun, 2024	55,251	-953	-482	-94	-0.9	-1.7	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	63,375	948	-148	35	0.3	1.5	Nov 7, 2024	J-GAAP
YoY	-11.8%	-47.7%	－	-98.0%	-98.0%