TODA KOGYO CORP., The Current Fiscal Year Ordinary Profit Revised Downward to a Loss

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Mon Nov 11, 2024 3:30 pm JST Earnings

4100 TODA KOGYO CORP. 【J-GAAP】

Earnings Report

TODA KOGYO CORP. <4100> [TSE-S] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 266 million yen (compared to a profit of 970 million yen in the same period last year), reversing from the forecast of a 350 million yen to a loss.

In addition, the full-year consolidated ordinary profit/loss has been revised downward from an expected profit of 1.1 billion yen to a loss of 400 million yen (compared to a profit of 1.16 billion yen in the previous period), turning to a loss outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a loss of 134 million yen (compared to a profit of 198 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 442 million yen (compared to a profit of 259 million yen in the same period last year). The operating profit/loss margin drastically worsened from 1.0% in the same period last year to -3.3%.

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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	18,760	1,164	2,286	1,554	269.4	68.3	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	12,674	-11	970	801	138.7	83.0	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	14,508	-267	-266	-879	-152.2	ー	Nov 11, 2024	J-GAAP
YoY	+14.5%	-2,327.3%	－	－	－

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	15,400	100	350	100	17.3	0	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	14,508	-267	-266	-879	-152.2	0	Nov 11, 2024	J-GAAP
Revision Rate	-5.8%	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	32,000	700	1,100	600	103.8	0	May 15, 2024	J-GAAP
Mar, 2025 New	29,500	-100	-400	-1,300	-224.9	0	Nov 11, 2024	J-GAAP
Revision Rate	-7.8%	－	－	－	－

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	13,560	128	198	-4,382	-758.7	0	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	14,992	167	-134	-421	-72.8	0	Nov 11, 2024	J-GAAP
YoY	+10.6%	+30.5%	－	+90.4%	+90.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	34,934	1,367	3,349	3,268	566.5	0	May 15, 2023	J-GAAP
Mar, 2024	26,234	117	1,168	-3,581	-620.0	0	May 15, 2024	J-GAAP
Mar, 2025 Guidance	29,500	-100	-400	-1,300	-224.9	0	Nov 11, 2024	J-GAAP
YoY	+12.4%	－	－	+63.7%	+63.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,491	66	259	135	23.4	1.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	6,939	242	318	712	123.3	3.5	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	6,621	-114	-120	-5,094	-882.0	-1.7	May 15, 2024	J-GAAP
Apr - Jun, 2024	7,307	-31	176	28	5.0	-0.4	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	7,201	-236	-442	-907	-157.1	-3.3	Nov 11, 2024	J-GAAP
YoY	+10.9%	－	－	－	－