Toyo Gosei Co.,Ltd., First Half Ordinary Profit Increases by 52%, July-September Ordinary Profit Increases by 19%

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Fri Nov 8, 2024 3:30 pm JST Earnings

4970 Toyo Gosei Co.,Ltd. 【J-GAAP】

Earnings Report

Toyo Gosei Co.,Ltd. <4970> [TSE-S] announced its financial results after the market closed on November 8th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 2.06 billion yen, an increase of 52.1% compared to the same period last year. The progress rate against the 3.5 billion yen full-year plan was 58.9%, also surpassing the five-year average of 49.5%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to decrease by 29.4% from the same period last year to 1.44 billion yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit grew by 19.1% from the same period last year, reaching 636 million yen. The operating profit margin improved from 6.2% in the same period last year to 9.2%.

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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	17,553	2,852	3,278	2,247	283.2	64.0	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	15,055	1,297	1,354	917	115.5	39.9	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	18,743	2,178	2,060	1,391	175.3	58.9	Nov 8, 2024	J-GAAP
YoY	+24.5%	+67.9%	+52.1%	+51.7%	+51.7%

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	18,700	2,050	2,000	1,350	170.1	20	Aug 9, 2024	J-GAAP
Apr - Sep, 2024 Results	18,743	2,178	2,060	1,391	175.3	20	Nov 8, 2024	J-GAAP
Revision Rate	+0.2%	+6.2%	+3.0%	+3.0%	+3.0%

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	16,901	2,215	2,039	1,479	186.4	20	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	19,457	1,422	1,440	1,109	139.7	20	Nov 8, 2024	J-GAAP
YoY	+15.1%	-35.8%	-29.4%	-25.0%	-25.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	34,156	4,968	5,122	3,827	482.2	40	May 12, 2023	J-GAAP
Mar, 2024	31,956	3,512	3,393	2,396	302.0	40	May 10, 2024	J-GAAP
Mar, 2025 Guidance	38,200	3,600	3,500	2,500	315.0	40	Aug 9, 2024	J-GAAP
YoY	+19.5%	+2.5%	+3.2%	+4.3%	+4.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,444	463	534	365	46.0	6.2	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	8,040	1,331	1,175	807	101.7	16.6	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	8,861	884	864	672	84.7	10.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	9,216	1,302	1,424	968	122.0	14.1	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	9,527	876	636	423	53.3	9.2	Nov 8, 2024	J-GAAP
YoY	+28.0%	+89.2%	+19.1%	+15.9%	+15.9%