Tokyo Cosmos Electric Co.,Ltd., First Half Ordinary Profit Decreases by 44%, July-September Ordinary Profit Decreases by 51%

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Mon Nov 11, 2024 2:50 pm JST Earnings

6772 Tokyo Cosmos Electric Co.,Ltd. 【J-GAAP】

Earnings Report

Tokyo Cosmos Electric Co.,Ltd. <6772> [TSE-S] announced its financial results in the afternoon session on November 11th (14:50). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 43.6% from the same period last year to 479 million yen. The progress rate against the 800 million yen full-year plan was 59.9%, almost the same as the five-year average of 58.6%.

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 drop by 42.1% from the same period last year to 321 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 182 million yen, a 51.3% decrease compared to the same period last year. However, the operating profit margin rose from 11.5% in the same period last year to 11.6%.

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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	5,263	612	858	670	472.7	56.5	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	5,293	691	849	586	427.6	60.5	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	5,170	543	479	295	218.4	59.9	Nov 11, 2024	J-GAAP
YoY	-2.3%	-21.4%	-43.6%	-49.7%	-48.9%

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	－	－	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	5,170	543	479	295	218.4	－	Nov 11, 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	5,141	570	554	376	276.2	145	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	4,830	307	321	265	196.0	160	Nov 11, 2024	J-GAAP
YoY	-6.0%	-46.1%	-42.1%	-29.5%	-29.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	10,712	1,349	1,519	1,174	827.6	60	May 12, 2023	J-GAAP
Mar, 2024	10,434	1,261	1,403	962	706.7	145	May 10, 2024	J-GAAP
Mar, 2025 Guidance	10,000	850	800	560	414.3	160	May 10, 2024	J-GAAP
YoY	-4.2%	-32.6%	-43.0%	-41.8%	-41.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,733	314	374	243	177.3	11.5	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	2,645	297	263	191	140.0	11.2	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	2,496	273	291	185	135.9	10.9	May 10, 2024	J-GAAP
Apr - Jun, 2024	2,490	231	297	191	141.7	9.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	2,680	312	182	104	77.0	11.6	Nov 11, 2024	J-GAAP
YoY	-1.9%	-0.6%	-51.3%	-57.2%	-56.6%