TAKAGI SEIKO CORPORATION, First Half Ordinary Profit Decreases by 49%, July-September Ordinary Profit Decreases by 66%

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Mon Nov 11, 2024 3:30 pm JST Earnings

4242 TAKAGI SEIKO CORPORATION 【J-GAAP】

Earnings Report

TAKAGI SEIKO CORPORATION <4242> [TSE-S] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 48.6% from the same period last year to 584 million yen. The progress rate against the 1.33 billion yen full-year plan was 43.9%, almost the same as the five-year average of 41.0%.

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 41.9% from the same period last year to 746 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 224 million yen, a 66.1% decrease compared to the same period last year. The operating profit margin worsened from 4.9% in the same period last year to 2.0%.

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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	24,387	724	794	-89	-32.5	33.1	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	25,269	1,159	1,137	457	165.1	47.0	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	21,738	558	584	128	46.3	43.9	Nov 11, 2024	J-GAAP
YoY	-14.0%	-51.9%	-48.6%	-72.0%	-71.9%

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	21,730	550	580	120	43.1	20	Oct 31, 2024	J-GAAP
Apr - Sep, 2024 Results	21,738	558	584	128	46.3	20	Nov 11, 2024	J-GAAP
Revision Rate	+0.0%	+1.5%	+0.7%	+6.7%	+7.6%

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	25,797	1,241	1,284	732	264.0	18	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	23,122	712	746	292	104.8	20	Nov 11, 2024	J-GAAP
YoY	-10.4%	-42.6%	-41.9%	-60.1%	-60.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	48,162	2,018	2,396	700	253.7	30	May 15, 2023	J-GAAP
Mar, 2024	51,066	2,400	2,421	1,189	428.7	36	May 13, 2024	J-GAAP
Mar, 2025 Guidance	44,860	1,270	1,330	420	150.7	40	Oct 31, 2024	J-GAAP
YoY	-12.2%	-47.1%	-45.1%	-64.7%	-64.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	12,863	632	661	370	133.6	4.9	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	13,242	712	730	377	136.1	5.4	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	12,555	529	554	355	128.0	4.2	May 13, 2024	J-GAAP
Apr - Jun, 2024	10,920	347	360	70	25.4	3.2	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	10,818	211	224	58	21.0	2.0	Nov 11, 2024	J-GAAP
YoY	-15.9%	-66.6%	-66.1%	-84.3%	-84.3%