TOKATSU HOLDINGS CO.,LTD., July-September (2Q) Ordinary Profit Decreases by 23%

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Fri Nov 8, 2024 3:00 pm JST Earnings

2754 TOKATSU HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

TOKATSU HOLDINGS CO.,LTD. <2754> [TSE-S] 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) increased by 19.8% from the same period last year, reaching 254 million yen. However, The progress rate against the 561 million yen full-year plan was 45.3%, almost the same as the five-year average of 47.5%.

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 6.4% from the same period last year to 307 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 102 million yen, a 23.3% decrease compared to the same period last year. However, the operating profit margin improved from 6.3% in the same period last year to 8.0%.

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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	3,477	208	218	140	29.1	51.5	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	3,732	205	212	136	28.1	39.3	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	4,671	345	254	163	33.8	45.3	Nov 8, 2024	J-GAAP
YoY	+25.2%	+68.3%	+19.8%	+19.9%	+20.3%

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	4,021	226	233	149	30.8	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	4,671	345	254	163	33.8	0	Nov 8, 2024	J-GAAP
Revision Rate	+16.2%	+52.7%	+9.0%	+9.4%	+9.8%

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	4,807	322	328	214	44.2	15	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	4,126	208	307	199	41.1	0	Nov 8, 2024	J-GAAP
YoY	-14.2%	-35.4%	-6.4%	-7.0%	-7.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	7,264	407	423	268	55.6	15	May 12, 2023	J-GAAP
Mar, 2024	8,539	527	540	350	72.4	15	May 13, 2024	J-GAAP
Mar, 2025 Guidance	8,797	553	561	362	74.8	0	Aug 8, 2024	J-GAAP
YoY	+3.0%	+4.9%	+3.9%	+3.4%	+3.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,042	129	133	85	17.6	6.3	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	2,296	169	172	111	23.0	7.4	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	2,511	153	156	103	21.3	6.1	May 13, 2024	J-GAAP
Apr - Jun, 2024	2,258	152	152	98	20.3	6.7	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	2,413	193	102	65	13.5	8.0	Nov 8, 2024	J-GAAP
YoY	+18.2%	+49.6%	-23.3%	-23.5%	-23.3%