TOYO CONSTRUCTION CO.,LTD., First Half Ordinary Profit Decreases by 34%, July-September Ordinary Profit Decreases by 17%

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Mon Nov 11, 2024 12:00 pm JST Earnings

1890 TOYO CONSTRUCTION CO.,LTD. 【J-GAAP】

Earnings Report

TOYO CONSTRUCTION CO.,LTD. <1890> [TSE-P] announced its financial results at noon (12:00) on November 11th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 33.7% from the same period last year to 2.43 billion yen. The progress rate against the 11.1 billion yen full-year plan was 21.9%, also falling below the five-year average of 35.2%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to expand by 35.7% from the same period last year, reaching 8.66 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 3.04 billion yen, a 16.7% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 8.1% in the same period last year to 7.8%.

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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	73,481	2,399	2,381	1,779	18.9	27.8	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	88,764	4,190	3,668	2,179	23.1	36.5	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	73,603	2,772	2,431	1,846	19.7	21.9	Nov 11, 2024	J-GAAP
YoY	-17.1%	-33.8%	-33.7%	-15.3%	-15.0%

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	－	30	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	73,603	2,772	2,431	1,846	19.7	30	Nov 11, 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	190,000	11,600	11,100	7,600	80.9	80	May 10, 2024	J-GAAP
Mar, 2025 New	182,000	11,600	11,100	7,600	80.9	80	Nov 11, 2024	J-GAAP
Revision Rate	-4.2%	0.0%	0.0%	0.0%	0.0%

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	98,017	6,697	6,389	4,837	51.4	74	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	108,397	8,828	8,669	5,754	61.3	50	Nov 11, 2024	J-GAAP
YoY	+10.6%	+31.8%	+35.7%	+19.0%	+19.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	168,351	8,995	8,551	5,656	60.2	25	May 11, 2023	J-GAAP
Mar, 2024	186,781	10,887	10,057	7,016	74.5	74	May 10, 2024	J-GAAP
Mar, 2025 Guidance	182,000	11,600	11,100	7,600	80.9	80	Nov 11, 2024	J-GAAP
YoY	-2.6%	+6.5%	+10.4%	+8.3%	+8.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	46,067	3,722	3,655	2,290	24.3	8.1	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	48,460	3,427	3,374	2,237	23.8	7.1	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	49,557	3,270	3,015	2,600	27.6	6.6	May 10, 2024	J-GAAP
Apr - Jun, 2024	33,773	-351	-614	-76	-0.8	-1.0	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	39,830	3,123	3,045	1,922	20.5	7.8	Nov 11, 2024	J-GAAP
YoY	-13.5%	-16.1%	-16.7%	-16.1%	-15.8%