Taihei Machinery Works,Limited, First Half Ordinary Profit Increases by 66%, Exceeds Full-Year Plan

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Tue Nov 12, 2024 1:00 pm JST Earnings

6342 Taihei Machinery Works,Limited 【J-GAAP】

Earnings Report

Taihei Machinery Works,Limited <6342> [TSE-S] announced its financial results in the afternoon session on November 12th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 1.12 billion yen, an increase of 66.5% compared to the same period last year, exceeded the previous forecast of 875 million yen.

The progress rate against the full-year plan of 802 million yen is 139.9%, already exceeding the target and also exceeding the five-year average of 41.1%.

Based on the first-half performance announced by the company and the unchanged 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 320 million yen (compared to a profit of 758 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 433 million yen, a 16.9% decrease compared to the same period last year. The operating profit margin decreased from 20.5% in the same period last year to 18.1%.

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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	2,808	229	249	156	112.3	32.4	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	4,270	665	674	452	325.2	47.1	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	4,552	1,087	1,122	764	538.4	139.9	Nov 12, 2024	J-GAAP
YoY	+6.6%	+63.5%	+66.5%	+69.0%	+65.6%

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	4,662	876	875	613	429.3	45	Nov 1, 2024	J-GAAP
Apr - Sep, 2024 Results	4,552	1,087	1,122	764	538.4	45	Nov 12, 2024	J-GAAP
Revision Rate	-2.4%	+24.1%	+28.2%	+24.6%	+25.4%

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	4,573	767	758	613	439.0	80	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	2,714	-263	-320	-203	-146.3	60	Nov 12, 2024	J-GAAP
YoY	-40.7%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	6,437	742	768	683	490.1	80	May 12, 2023	J-GAAP
Mar, 2024	8,843	1,432	1,432	1,065	762.7	130	May 10, 2024	J-GAAP
Mar, 2025 Guidance	7,266	824	802	561	404.2	105	Nov 1, 2024	J-GAAP
YoY	-17.8%	-42.5%	-44.0%	-47.3%	-47.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,507	515	521	356	256.1	20.5	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	1,946	228	235	160	114.7	11.7	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	2,627	539	523	453	324.4	20.5	May 10, 2024	J-GAAP
Apr - Jun, 2024	2,426	702	689	473	334.5	28.9	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	2,126	385	433	291	205.1	18.1	Nov 12, 2024	J-GAAP
YoY	-15.2%	-25.2%	-16.9%	-18.3%	-19.9%