TAKADAKIKO(Steel Construction)CO.,LTD., First Half Ordinary Profit Decreases by 71%

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Fri Nov 8, 2024 1:00 pm JST Earnings

5923 TAKADAKIKO(Steel Construction)CO.,LTD. 【J-GAAP】

Earnings Report

TAKADAKIKO(Steel Construction)CO.,LTD. <5923> [TSE-S] announced its financial results in the afternoon session on November 8th (13:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 70.8% from the same period last year to 252 million yen. The progress rate against the 350 million yen full-year plan was 72.0%, also surpassing the five-year average of 48.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to significant drop by 83.0% from the same period last year to 98 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit significantly dropped to 157 million yen, a 64.3% decrease compared to the same period last year. The operating profit margin drastically worsened from 8.9% in the same period last year to 3.3%.

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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	7,324	163	237	184	29.1	48.3	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	9,268	779	863	609	100.2	60.0	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	9,291	176	252	260	42.7	72.0	Nov 8, 2024	J-GAAP
YoY	+0.2%	-77.4%	-70.8%	-57.3%	-57.4%

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	9,200	170	250	260	42.6	25	Oct 25, 2024	J-GAAP
Apr - Sep, 2024 Results	9,291	176	252	260	42.7	25	Nov 8, 2024	J-GAAP
Revision Rate	+1.0%	+3.5%	+0.8%	0.0%	+0.2%

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	10,427	569	575	289	47.5	33.33	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	8,709	24	98	40	6.6	25	Nov 8, 2024	J-GAAP
YoY	-16.5%	-95.8%	-83.0%	-86.2%	-86.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	15,978	374	491	340	54.6	33.33	May 11, 2023	J-GAAP
Mar, 2024	19,695	1,348	1,438	898	147.6	50	May 10, 2024	J-GAAP
Mar, 2025 Guidance	18,000	200	350	300	49.1	50	Oct 25, 2024	J-GAAP
YoY	-8.6%	-85.2%	-75.7%	-66.6%	-66.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,816	428	440	307	50.5	8.9	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	5,137	68	110	74	12.2	1.3	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	5,290	501	465	215	35.3	9.5	May 10, 2024	J-GAAP
Apr - Jun, 2024	4,566	19	95	61	10.2	0.4	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	4,725	157	157	199	32.7	3.3	Nov 8, 2024	J-GAAP
YoY	-1.9%	-63.3%	-64.3%	-35.2%	-35.4%