TAKARA BIO INC., First Half Ordinary Profit Decreases by 66%

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Fri Nov 8, 2024 3:00 pm JST Earnings

4974 TAKARA BIO INC. 【J-GAAP】

Earnings Report

TAKARA BIO INC. <4974> [TSE-P] announced its financial results in the afternoon session on November 8th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 65.6% from the same period last year to 549 million yen. The progress rate against the 5.2 billion yen full-year plan was 10.6%, also falling below the five-year average of 44.7%.

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 surge by 2.6 times that of the same period last year, reaching 4.65 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 88.0% from the same period last year, reaching 2.04 billion yen. The operating profit margin drastically improved from 9.9% in the same period last year to 18.2%.

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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	32,587	10,870	10,955	8,538	70.9	53.0	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	19,116	1,410	1,598	1,084	9.0	46.9	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	19,758	417	549	513	4.3	10.6	Nov 8, 2024	J-GAAP
YoY	+3.4%	-70.4%	-65.6%	-52.7%	-52.7%

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	20,200	150	250	100	0.8	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	19,758	417	549	513	4.3	0	Nov 8, 2024	J-GAAP
Revision Rate	-2.2%	+178.0%	+119.6%	+413.0%	+413.3%

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	24,389	1,593	1,807	396	3.3	17	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	29,142	4,583	4,651	2,887	24.0	17	Nov 8, 2024	J-GAAP
YoY	+19.5%	+187.7%	+157.4%	+629.0%	+628.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	78,142	20,541	20,682	16,012	133.0	42	May 11, 2023	J-GAAP
Mar, 2024	43,505	3,003	3,405	1,480	12.3	17	May 10, 2024	J-GAAP
Mar, 2025 Guidance	48,900	5,000	5,200	3,400	28.2	17	May 10, 2024	J-GAAP
YoY	+12.4%	+66.5%	+52.7%	+129.7%	+129.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	9,940	987	1,089	765	6.4	9.9	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	10,618	-1,074	-1,012	-930	-7.7	-10.1	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	13,771	2,667	2,819	1,326	11.0	19.4	May 10, 2024	J-GAAP
Apr - Jun, 2024	8,493	-1,634	-1,498	-1,047	-8.7	-19.2	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	11,265	2,051	2,047	1,560	13.0	18.2	Nov 8, 2024	J-GAAP
YoY	+13.3%	+107.8%	+88.0%	+103.9%	+103.9%