TACHIBANA ELETECH CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 16%

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Mon Nov 11, 2024 3:30 pm JST Earnings

8159 TACHIBANA ELETECH CO.,LTD. 【J-GAAP】

Earnings Report

TACHIBANA ELETECH CO.,LTD. <8159> [TSE-P] 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 43.8% from the same period last year to 3.68 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 15.8%, from the previous forecast of 10.1 billion yen to 8.5 billion yen (compared to 11.8 billion yen in the previous period), leading to an increase in the profit decline rate from 15.0% to 28.5%.

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 decrease by 9.6% from the same period last year to 4.81 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 1.64 billion yen, a 49.4% decrease compared to the same period last year. The operating profit margin worsened from 5.1% in the same period last year to 4.7%.

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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	110,038	4,801	5,802	4,132	165.5	52.7	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	114,811	5,775	6,558	4,509	183.4	55.2	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	106,798	3,976	3,685	2,817	118.5	43.4	Nov 11, 2024	J-GAAP
YoY	-7.0%	-31.2%	-43.8%	-37.5%	-35.4%

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	－	50	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	106,798	3,976	3,685	2,817	118.5	50	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	228,000	10,000	10,100	7,000	300.0	100	May 13, 2024	J-GAAP
Mar, 2025 New	220,000	8,400	8,500	6,500	278.6	100	Nov 11, 2024	J-GAAP
Revision Rate	-3.5%	-16.0%	-15.8%	-7.1%	-7.1%

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	116,231	4,989	5,328	3,962	162.4	50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	113,202	4,424	4,815	3,683	157.8	50	Nov 11, 2024	J-GAAP
YoY	-2.6%	-11.3%	-9.6%	-7.0%	-2.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	227,266	10,316	11,001	7,841	313.9	90	May 11, 2023	J-GAAP
Mar, 2024	231,042	10,764	11,886	8,471	347.3	100	May 13, 2024	J-GAAP
Mar, 2025 Guidance	220,000	8,400	8,500	6,500	278.6	100	Nov 11, 2024	J-GAAP
YoY	-4.8%	-22.0%	-28.5%	-23.3%	-19.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	58,931	3,025	3,248	2,262	92.0	5.1	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	55,965	2,889	2,786	1,961	80.1	5.2	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	60,266	2,100	2,542	2,001	82.0	3.5	May 13, 2024	J-GAAP
Apr - Jun, 2024	51,741	1,376	2,042	1,346	56.3	2.7	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	55,057	2,600	1,643	1,471	61.9	4.7	Nov 11, 2024	J-GAAP
YoY	-6.6%	-14.0%	-49.4%	-35.0%	-32.7%