TS TECH CO., LTD., First Half Net Income Increases by 50%

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Fri Nov 8, 2024 3:30 pm JST Earnings

7313 TS TECH CO., LTD. 【IFRS】

Earnings Report

TS TECH CO., LTD. <7313> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 8th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 4.53 billion yen, an increase of 49.9% compared to the same period last year, exceeded the previous forecast of 3.5 billion yen.

The progress rate against the 12 billion yen full-year plan was 37.8%, almost the same as the five-year average of 38.9%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 3.9% from the same period last year, reaching 7.46 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income decreased to 2.05 billion yen, a 28.9% decrease compared to the same period last year. The operating profit margin worsened from 4.6% in the same period last year to 3.8%.

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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	196,978	5,625	7,460	1,364	10.5	39.9	Nov 11, 2022	IFRS
Apr - Sep, 2023	202,312	5,077	7,328	3,023	23.7	33.7	Nov 10, 2023	IFRS
Apr - Sep, 2024	222,705	6,677	8,041	4,532	36.4	39.2	Nov 8, 2024	IFRS
YoY	+10.1%	+31.5%	+9.7%	+49.9%	+53.4%

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	222,000	8,000	9,000	3,500	28.8	40	May 10, 2024	IFRS
Apr - Sep, 2024 Results	222,705	6,677	8,041	4,532	36.4	40	Nov 8, 2024	IFRS
Revision Rate	+0.3%	-16.5%	-10.7%	+29.5%	+26.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	450,000	20,000	22,500	12,000	100.6	83	May 10, 2024	IFRS
Mar, 2025 New	443,000	17,500	20,500	12,000	100.6	83	Nov 8, 2024	IFRS
Revision Rate	-1.6%	-12.5%	-8.9%	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	239,401	12,430	14,418	7,191	56.4	38	May 10, 2024	IFRS
Oct - Mar, 2024 Guidance	220,295	10,823	12,459	7,468	62.6	43	Nov 8, 2024	IFRS
YoY	-8.0%	-12.9%	-13.6%	+3.9%	+11.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	409,200	15,257	18,692	5,343	41.4	63	May 12, 2023	IFRS
Mar, 2024	441,713	17,507	21,746	10,214	80.1	73	May 10, 2024	IFRS
Mar, 2025 Guidance	443,000	17,500	20,500	12,000	100.6	83	Nov 8, 2024	IFRS
YoY	+0.3%	0.0%	-5.7%	+17.5%	+25.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	109,122	4,978	5,828	2,896	22.7	4.6	Nov 10, 2023	IFRS
Oct - Dec, 2023	127,185	8,963	10,174	6,340	49.7	7.0	Feb 9, 2024	IFRS
Jan - Mar, 2024	112,216	3,467	4,244	851	6.7	3.1	May 10, 2024	IFRS
Apr - Jun, 2024	112,516	2,495	3,810	2,473	19.4	2.2	Aug 9, 2024	IFRS
Jul - Sep, 2024	110,189	4,182	4,231	2,059	16.5	3.8	Nov 8, 2024	IFRS
YoY	+1.0%	-16.0%	-27.4%	-28.9%	-27.3%