TOYO SUISAN KAISHA, LTD., First Half Ordinary Profit Increases by 25%, July-September Ordinary Profit Increases by 5%

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Fri Nov 8, 2024 12:20 pm JST Earnings

2875 TOYO SUISAN KAISHA, LTD. 【J-GAAP】

Earnings Report

TOYO SUISAN KAISHA, LTD. <2875> [TSE-P] announced its financial results at noon (12:20) on November 8th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 25.2% from the same period last year, reaching 42.1 billion yen. The progress rate against the 78 billion yen full-year plan was 54.0%, also surpassing the five-year average of 46.6%.

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 13.0% from the same period last year to 35.8 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 4.5% from the same period last year, reaching 19.2 billion yen. The operating profit margin rose from 13.4% in the same period last year to 15.0%.

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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	212,940	18,978	20,378	15,270	149.5	46.6	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	234,890	29,824	33,646	25,132	246.1	44.9	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	245,690	38,151	42,117	31,862	315.2	54.0	Nov 8, 2024	J-GAAP
YoY	+4.6%	+27.9%	+25.2%	+26.8%	+28.1%

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	247,500	34,500	37,500	27,800	279.0	80	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	245,690	38,151	42,117	31,862	315.2	80	Nov 8, 2024	J-GAAP
Revision Rate	-0.7%	+10.6%	+12.3%	+14.6%	+13.0%

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	254,123	36,872	41,243	30,521	298.9	110	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	264,310	33,849	35,883	27,138	272.4	90	Nov 8, 2024	J-GAAP
YoY	+4.0%	-8.2%	-13.0%	-11.1%	-8.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	435,786	40,330	43,724	33,126	324.4	100	May 12, 2023	J-GAAP
Mar, 2024	489,013	66,696	74,889	55,653	545.0	170	May 10, 2024	J-GAAP
Mar, 2025 Guidance	510,000	72,000	78,000	59,000	592.2	170	May 10, 2024	J-GAAP
YoY	+4.3%	+8.0%	+4.2%	+6.0%	+8.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	123,709	16,634	18,369	14,109	138.2	13.4	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	123,509	18,187	19,975	14,772	144.6	14.7	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	130,614	18,685	21,268	15,749	154.2	14.3	May 10, 2024	J-GAAP
Apr - Jun, 2024	126,697	20,267	22,917	17,633	172.7	16.0	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	118,993	17,884	19,200	14,229	140.8	15.0	Nov 8, 2024	J-GAAP
YoY	-3.8%	+7.5%	+4.5%	+0.9%	+1.9%