TOHO TITANIUM COMPANY LIMITED, First Half Ordinary Profit Decreases by 53%, July-September Ordinary Profit Turns to Loss

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Fri Nov 8, 2024 1:00 pm JST Earnings

5727 TOHO TITANIUM COMPANY LIMITED 【J-GAAP】

Earnings Report

TOHO TITANIUM COMPANY LIMITED <5727> [TSE-P] announced its financial results in the afternoon session on November 8th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 53.1% from the same period last year to 1.49 billion yen. The progress rate against the 5 billion yen full-year plan was 29.9%, also falling below the five-year average of 50.3%.

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 grow by 13.5% from the same period last year, reaching 3.5 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 353 million yen (compared to a profit of 1.9 billion yen in the same period last year). The operating profit margin drastically worsened from 8.1% in the same period last year to 4.4%.

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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	38,890	5,823	6,406	4,536	63.7	60.8	Oct 27, 2022	J-GAAP
Apr - Sep, 2023	36,649	2,341	3,182	2,436	34.2	50.7	Oct 26, 2023	J-GAAP
Apr - Sep, 2024	43,779	2,413	1,493	985	13.8	29.9	Nov 8, 2024	J-GAAP
YoY	+19.5%	+3.1%	-53.1%	-59.6%	-59.6%

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	45,300	1,900	1,400	700	9.8	8	May 8, 2024	J-GAAP
Apr - Sep, 2024 Results	43,779	2,413	1,493	985	13.8	8	Nov 8, 2024	J-GAAP
Revision Rate	-3.4%	+27.0%	+6.6%	+40.7%	+40.7%

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	41,755	3,287	3,091	2,515	35.3	18	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	51,521	3,287	3,507	2,715	38.2	8	Nov 8, 2024	J-GAAP
YoY	+23.4%	0.0%	+13.5%	+8.0%	+8.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	80,351	10,693	10,532	7,504	105.4	30	May 8, 2023	J-GAAP
Mar, 2024	78,404	5,628	6,273	4,951	69.6	24	May 8, 2024	J-GAAP
Mar, 2025 Guidance	95,300	5,700	5,000	3,700	52.0	16	May 8, 2024	J-GAAP
YoY	+21.5%	+1.3%	-20.3%	-25.3%	-25.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	20,494	1,663	1,906	1,483	20.8	8.1	Oct 26, 2023	J-GAAP
Oct - Dec, 2023	19,841	1,541	866	609	8.6	7.8	Jan 25, 2024	J-GAAP
Jan - Mar, 2024	21,914	1,746	2,225	1,906	26.8	8.0	May 8, 2024	J-GAAP
Apr - Jun, 2024	21,355	1,430	1,846	1,252	17.6	6.7	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	22,424	983	-353	-267	-3.8	4.4	Nov 8, 2024	J-GAAP
YoY	+9.4%	-40.9%	－	－	－