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TOKYO RADIATOR MFG. CO., LTD., July-September (2Q) Ordinary Profit Decreases by 6%

Fri Nov 8, 2024 4:00 pm JST Earnings

7235 TOKYO RADIATOR MFG. CO., LTD. 【J-GAAP】

Earnings Report

TOKYO RADIATOR MFG. CO., LTD. <7235> [TSE-S] announced its financial results after the market closed on November 8th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 15.0% from the same period last year, reaching 837 million yen. The progress rate against the 1.5 billion yen full-year plan was 55.8%, it was below the five-year average of 60.9%.

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 decrease by 19.1% from the same period last year to 663 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 403 million yen, a 6.5% decrease compared to the same period last year. The operating profit margin worsened from 4.9% in the same period last year to 4.2%.

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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 15,037 -69 51 -232 -16.2 6.0 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 16,230 651 728 551 58.8 47.0 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 16,735 742 837 576 61.4 55.8 Nov 8, 2024 J-GAAP
YoY +3.1% +14.0% +15.0% +4.5% +4.4%

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 ー ー ー ー － 13 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 16,735 742 837 576 61.4 13 Nov 8, 2024 J-GAAP
Revision Rate － － － － －

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 17,171 746 820 1,130 120.4 14 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 16,265 658 663 524 55.5 13 Nov 8, 2024 J-GAAP
YoY -5.3% -11.8% -19.1% -53.6% -53.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 31,785 823 849 -718 -52.8 16 May 12, 2023 J-GAAP
Mar, 2024 33,401 1,397 1,548 1,681 179.1 23 May 13, 2024 J-GAAP
Mar, 2025 Guidance 33,000 1,400 1,500 1,100 116.6 26 May 13, 2024 J-GAAP
YoY -1.2% +0.2% -3.1% -34.6% -34.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 8,123 401 431 372 39.7 4.9 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 8,896 473 508 632 67.4 5.3 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 8,275 273 312 498 53.1 3.3 May 13, 2024 J-GAAP
Apr - Jun, 2024 8,583 401 434 360 38.4 4.7 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 8,152 341 403 216 23.0 4.2 Nov 8, 2024 J-GAAP
YoY +0.4% -15.0% -6.5% -41.9% -42.0%

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