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

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 -157.0 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 7,266 824 802 561 434.0 105 Nov 1, 2024 J-GAAP
YoY -17.8% -42.5% -44.0% -47.3% -43.1%

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%

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