Tokyo Communications Group,Inc., The Current Fiscal Year Ordinary Profit Revised Downward to a Loss

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Fri Nov 8, 2024 4:00 pm JST Earnings

7359 Tokyo Communications Group,Inc. 【J-GAAP】

Earnings Report

Tokyo Communications Group,Inc. <7359> [TSE-G] announced its financial results after the market closed on November 8th (16:00). The consolidated ordinary loss for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to a loss of 180 million yen (compared to a loss of 84 million yen in the same period last year).

In addition, the full-year consolidated ordinary profit/loss has been revised downward from an expected profit of 130 million yen to a loss of 200 million yen (compared to a profit of 357 million yen in the previous period), turning to a loss outlook.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit/loss for the July to December period (second half) has been revised downward from an expected profit of 218 million yen to a loss of 112 million yen (compared to a profit of 413 million yen in the same period of the previous year), turning to a loss outlook.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary loss expanded to a loss of 92 million yen (compared to a loss of 28 million yen in the same period last year). The operating profit/loss margin drastically worsened from -1.1% in the same period last year to -4.5%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	3,696	-33	-2	-108	-10.9	ー	Nov 7, 2022	J-GAAP
Jan - Sep, 2023	4,665	-48	-84	-145	-14.6	ー	Nov 7, 2023	J-GAAP
Jan - Sep, 2024	4,233	-277	-180	-266	-26.5	ー	Nov 8, 2024	J-GAAP
YoY	-9.3%	-477.1%	-114.3%	-83.4%	-81.5%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	5,229	251	218	78	7.7	0	Aug 7, 2024	J-GAAP
Jul - Dec, 2024 New	2,979	-69	-112	-142	-14.1	0	Nov 8, 2024	J-GAAP
Revision Rate	-43.0%	－	－	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	8,000	40	130	-80	-7.9	0	Feb 14, 2024	J-GAAP
Dec, 2024 New	5,750	-280	-200	-300	-29.8	0	Nov 8, 2024	J-GAAP
Revision Rate	-28.1%	－	－	-275.0%	-275.1%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	3,229	-103	413	-117	-11.7	0	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	2,979	-69	-112	-142	-14.1	0	Nov 8, 2024	J-GAAP
YoY	-7.7%	+33.0%	－	-21.4%	-20.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	5,071	-54	-45	-265	-26.9	0	Feb 13, 2023	J-GAAP
Dec, 2023	6,219	-133	357	-204	-20.5	0	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	5,750	-280	-200	-300	-29.8	0	Nov 8, 2024	J-GAAP
YoY	-7.5%	-110.5%	－	-47.1%	-45.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,675	-18	-28	-58	-5.8	-1.1	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	1,554	-85	441	-59	-5.9	-5.5	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	1,370	-96	18	-80	-8.0	-7.0	May 9, 2024	J-GAAP
Apr - Jun, 2024	1,401	-115	-106	-78	-7.8	-8.2	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	1,462	-66	-92	-108	-10.8	-4.5	Nov 8, 2024	J-GAAP
YoY	-12.7%	-266.7%	-228.6%	-86.2%	-84.2%