Tenryu Saw Mfg. Co., Ltd., July-September (2Q) Ordinary Profit Decreases by 33%

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Fri Nov 8, 2024 3:30 pm JST Earnings

5945 Tenryu Saw Mfg. Co., Ltd. 【J-GAAP】

Earnings Report

Tenryu Saw Mfg. Co., Ltd. <5945> [TSE-S] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 15.5% from the same period last year, reaching 971 million yen. The progress rate against the 1.87 billion yen full-year plan was 51.8%, almost the same as the five-year average of 51.8%.

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 nearly flat at 904 million yen, up 0.8% from the same period last year.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 258 million yen, a 33.3% decrease compared to the same period last year. However, the operating profit margin significantly improved from 9.8% in the same period last year to 13.5%.

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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	7,211	1,231	1,646	1,142	123.4	70.2	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	5,358	538	841	600	64.9	48.4	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	6,566	916	971	680	73.5	51.8	Nov 8, 2024	J-GAAP
YoY	+22.5%	+70.3%	+15.5%	+13.3%	+13.2%

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	5,900	740	875	612	66.1	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	6,566	916	971	680	73.5	0	Nov 8, 2024	J-GAAP
Revision Rate	+11.3%	+23.8%	+11.0%	+11.1%	+11.1%

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	6,577	704	897	626	67.7	55	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,434	714	904	633	68.4	71	Nov 8, 2024	J-GAAP
YoY	-2.2%	+1.4%	+0.8%	+1.1%	+1.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	13,530	1,736	2,345	1,655	178.8	65	May 12, 2023	J-GAAP
Mar, 2024	11,935	1,242	1,738	1,226	132.6	55	May 14, 2024	J-GAAP
Mar, 2025 Guidance	13,000	1,630	1,875	1,313	141.9	71	May 14, 2024	J-GAAP
YoY	+8.9%	+31.2%	+7.9%	+7.1%	+7.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,764	272	387	251	27.2	9.8	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	3,400	310	295	209	22.6	9.1	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	3,177	394	602	417	45.1	12.4	May 14, 2024	J-GAAP
Apr - Jun, 2024	3,280	474	713	495	53.6	14.5	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	3,286	442	258	185	20.0	13.5	Nov 8, 2024	J-GAAP
YoY	+18.9%	+62.5%	-33.3%	-26.3%	-26.4%