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TOSHIBA TEC CORPORATION, The Current Fiscal Year Net Income Revised Upward by 20%, Exceeded record profit forecast

Fri Nov 8, 2024 3:30 pm JST Earnings

6588 TOSHIBA TEC CORPORATION 【J-GAAP】

Earnings Report

TOSHIBA TEC CORPORATION <6588> [TSE-P] announced its financial results 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) surged by 12 times that of the same period last year, reaching 26.6 billion yen.

In addition, the full-year consolidated net income has been revised upward by 20.0%, from the previous forecast of 20 billion yen to 24 billion yen (compared to a loss of 6.7 billion yen in the previous period). The company has further increased its previous forecast of record profits for the first time in seven years.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net loss for the October to March period (second half) is expected to further decrease to loss of 2.6 billion yen (compared to a loss of 8.87 billion yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated net income surged to 11 times that of the same period last year, reaching 23.1 billion yen. The operating profit margin remained almost flat, changing from 3.3% in the same period last year to 3.5%.

Kabutan News

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 243,869 5,955 2,783 -6,370 -115.1 21.2 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 263,646 5,910 3,663 2,163 39.1 33.3 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 289,172 9,473 8,512 26,608 502.6 56.7 Nov 8, 2024 J-GAAP
YoY +9.7% +60.3% +132.4% +1,130.1% +1,185.1%

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 ー ー ー ー － 20 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 289,172 9,473 8,512 26,608 502.6 20 Nov 8, 2024 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 565,000 18,000 15,000 20,000 377.7 45 Aug 8, 2024 J-GAAP
Mar, 2025 New 565,000 18,000 15,000 24,000 453.2 45 Nov 8, 2024 J-GAAP
Revision Rate 0.0% 0.0% 0.0% +20.0% +20.0%

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 284,489 9,944 7,341 -8,870 -163.9 25 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 275,828 8,527 6,488 -2,608 -49.3 25 Nov 8, 2024 J-GAAP
YoY -3.0% -14.2% -11.6% +70.6% +69.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 510,767 16,078 13,149 -13,745 -248.4 40 May 11, 2023 J-GAAP
Mar, 2024 548,135 15,854 11,004 -6,707 -123.9 45 May 10, 2024 J-GAAP
Mar, 2025 Guidance 565,000 18,000 15,000 24,000 453.2 45 Nov 8, 2024 J-GAAP
YoY +3.1% +13.5% +36.3% － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 141,272 4,623 3,257 2,125 38.4 3.3 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 133,073 3,553 2,749 -16,879 -309.6 2.7 Feb 7, 2024 J-GAAP
Jan - Mar, 2024 151,416 6,391 4,592 8,009 148.0 4.2 May 10, 2024 J-GAAP
Apr - Jun, 2024 140,169 4,276 4,620 3,442 65.0 3.1 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 149,003 5,197 3,892 23,166 437.6 3.5 Nov 8, 2024 J-GAAP
YoY +5.5% +12.4% +19.5% +990.2% +1,039.0%

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