TEAC CORPORATION, First Half Net Income Loss Narrows, July-September Net Income Increases by 53%

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Fri Nov 8, 2024 12:00 pm JST Earnings

6803 TEAC CORPORATION 【IFRS】

Earnings Report

TEAC CORPORATION <6803> [TSE-S] announced its financial results (based on IFRS) at noon (12:00) on November 8th. The consolidated net loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was a reduced loss of 344 million yen (compared to a loss of 368 million 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 net income for the October to March period (second half) is expected to expand by 72.7% from the same period last year, reaching 544 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income increased by 53.1% from the same period last year, reaching 49 million yen. However, the operating profit/loss margin drastically worsened from 3.7% in the same period last year to -0.2%.

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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	7,601	278	34	31	1.1	10.0	Nov 4, 2022	IFRS
Apr - Sep, 2023	7,326	-47	-357	-368	-12.8	ー	Nov 2, 2023	IFRS
Apr - Sep, 2024	6,736	-282	-361	-344	-12.0	ー	Nov 8, 2024	IFRS
YoY	-8.1%	-500.0%	-1.1%	+6.5%	+6.4%

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	－	－	May 10, 2024	IFRS
Apr - Sep, 2024 Results	6,736	-282	-361	-344	-12.0	－	Nov 8, 2024	IFRS
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	8,346	492	362	315	11.0	1	May 10, 2024	IFRS
Oct - Mar, 2024 Guidance	9,264	782	611	544	18.9	1	Nov 8, 2024	IFRS
YoY	+11.0%	+58.9%	+68.8%	+72.7%	+71.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	15,699	563	341	305	10.6	1	May 12, 2023	IFRS
Mar, 2024	15,672	445	5	-53	-1.9	1	May 10, 2024	IFRS
Mar, 2025 Guidance	16,000	500	250	200	6.9	1	May 10, 2024	IFRS
YoY	+2.1%	+12.4%	+4,900.0%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,977	147	32	32	1.1	3.7	Nov 2, 2023	IFRS
Oct - Dec, 2023	3,889	148	179	181	6.3	3.8	Feb 14, 2024	IFRS
Jan - Mar, 2024	4,457	344	183	134	4.7	7.7	May 10, 2024	IFRS
Apr - Jun, 2024	3,073	-275	-398	-393	-13.7	-8.9	Aug 9, 2024	IFRS
Jul - Sep, 2024	3,663	-7	37	49	1.7	-0.2	Nov 8, 2024	IFRS
YoY	-7.9%	－	+15.6%	+53.1%	+53.2%