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TSUBAKI NAKASHIMA CO.,LTD., The Current Fiscal Year Net Income Revised Downward to a Loss, Dividend Revised down by 10 yen

Mon Nov 11, 2024 4:00 pm JST Earnings

6464 TSUBAKI NAKASHIMA CO.,LTD. 【IFRS】

Earnings Report

TSUBAKI NAKASHIMA CO.,LTD. <6464> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 11th (16:00). The consolidated net income for the cumulative third quarter of the fiscal year ending December 2024 (January to September) dropped by 38.1% from the same period last year to 738 million yen.

In addition, the full-year consolidated net income/loss has been revised downward from an expected profit of 3.96 billion yen to a loss of 1.7 billion yen (compared to a loss of 1.28 billion yen in the previous period), turning to a loss outlook.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income/loss for the July to December period (second half) has been revised downward from an expected profit of 2.25 billion yen to a loss of 3.4 billion yen (compared to a loss of 2.19 billion yen in the same period of the previous year), turning to a loss outlook.

Due to a decline in performance, the company has reduced its planned annual dividend for the current fiscal year from the original plan of 35 yen to 25 yen (compared to 13 yen in the previous period).

In the most recent three-month period, from July to September (3Q), the consolidated net income/loss turned to a loss of 965 million yen (compared to a profit of 281 million yen in the same period last year). The operating profit margin worsened from 5.0% in the same period last year to 2.2%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Sep, 2022 58,409 2,662 2,974 1,494 36.9 ー Nov 11, 2022 IFRS
Jan - Sep, 2023 56,552 2,778 2,682 1,192 30.0 62.9 Nov 10, 2023 IFRS
Jan - Sep, 2024 58,323 2,573 1,583 738 18.5 ー Nov 11, 2024 IFRS
YoY +3.1% -7.4% -41.0% -38.1% -38.2%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 Prev 36,996 4,690 2,886 2,257 56.7 20 Aug 9, 2024 IFRS
Jul - Dec, 2024 New 34,696 -1,670 -3,664 -3,403 -85.4 10 Nov 11, 2024 IFRS
Revision Rate -6.2% － － － －

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 77,300 6,860 5,650 3,960 99.4 35 May 13, 2024 IFRS
Dec, 2024 New 75,000 500 -900 -1,700 -42.7 25 Nov 11, 2024 IFRS
Revision Rate -3.0% -92.7% － － －

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 39,390 3,177 2,519 -2,198 -55.3 0 Feb 9, 2024 IFRS
Jul - Dec, 2024 Guidance 34,696 -1,670 -3,664 -3,403 -85.4 10 Nov 11, 2024 IFRS
YoY -11.9% － － -54.8% -54.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 79,036 -9,065 -9,648 -9,089 -225.4 30 Feb 20, 2023 IFRS
Dec, 2023 77,085 5,018 4,267 -1,287 -32.4 13 Feb 9, 2024 IFRS
Dec, 2024 Guidance 75,000 500 -900 -1,700 -42.7 25 Nov 11, 2024 IFRS
YoY -2.7% -90.0% － -32.1% -31.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 18,857 937 934 281 7.1 5.0 Nov 10, 2023 IFRS
Oct - Dec, 2023 20,533 2,240 1,585 -2,479 -62.4 10.9 Feb 9, 2024 IFRS
Jan - Mar, 2024 19,966 1,507 1,098 906 22.8 7.5 May 13, 2024 IFRS
Apr - Jun, 2024 20,338 663 1,666 797 20.0 3.3 Aug 9, 2024 IFRS
Jul - Sep, 2024 18,019 403 -1,181 -965 -24.2 2.2 Nov 11, 2024 IFRS
YoY -4.4% -57.0% － － －

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