TOHO HOLDINGS CO.,LTD., First Half Ordinary Profit Unexpectedly Revised Upward by 8%, Current Fiscal Year Dividend Revised Upward by 15 yen

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Fri Nov 8, 2024 1:00 pm JST Earnings

8129 TOHO HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

TOHO HOLDINGS CO.,LTD. <8129> [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) increased by 8.2% from the same period last year, reaching 8.59 billion yen, resulting in an increase in profits compared to the previous forecast of a 0.6% decrease.

The progress rate against the 20.1 billion yen full-year plan was 42.8%, exceeding the five-year average of 37.7%.

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 16.9% from the same period last year to 11.5 billion yen.

At the same time, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 50 yen to 65 yen (compared to 40 yen in the previous period).

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 5.66 billion yen. The operating profit margin remained almost flat, changing from 1.2% in the same period last year to 1.3%.

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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	681,470	5,835	7,392	3,598	51.0	38.5	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	734,846	6,492	7,945	8,782	134.2	36.5	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	754,974	7,380	8,596	5,383	85.7	42.8	Nov 8, 2024	J-GAAP
YoY	+2.7%	+13.7%	+8.2%	-38.7%	-36.1%

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	731,000	6,900	7,900	4,900	78.3	25	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	754,974	7,380	8,596	5,383	85.7	25	Nov 8, 2024	J-GAAP
Revision Rate	+3.3%	+7.0%	+8.8%	+9.9%	+9.4%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	1,492,000	18,200	20,100	12,500	194.2	50	May 10, 2024	J-GAAP
Mar, 2025 New	1,492,000	18,200	20,100	12,500	194.2	65	Nov 8, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

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	741,866	12,839	13,842	11,875	184.0	22	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	737,026	10,820	11,504	7,117	110.6	40	Nov 8, 2024	J-GAAP
YoY	-0.7%	-15.7%	-16.9%	-40.1%	-39.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,392,117	16,365	19,176	13,630	196.7	32	May 12, 2023	J-GAAP
Mar, 2024	1,476,712	19,331	21,787	20,657	320.1	40	May 10, 2024	J-GAAP
Mar, 2025 Guidance	1,492,000	18,200	20,100	12,500	194.2	65	Nov 8, 2024	J-GAAP
YoY	+1.0%	-5.9%	-7.7%	-39.5%	-39.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	383,667	4,639	5,424	7,253	110.8	1.2	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	384,703	5,089	5,673	4,688	72.1	1.3	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	357,163	7,750	8,169	7,187	111.4	2.2	May 10, 2024	J-GAAP
Apr - Jun, 2024	373,044	2,278	2,928	1,804	28.8	0.6	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	381,930	5,102	5,668	3,579	57.0	1.3	Nov 8, 2024	J-GAAP
YoY	-0.5%	+10.0%	+4.5%	-50.7%	-48.6%