TOKURA CORPORATION, First Half Ordinary Profit Turns to Profit, July-September Ordinary Profit Increases by 5.0 times

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Tue Nov 12, 2024 1:00 pm JST Earnings

1892 TOKURA CORPORATION 【J-GAAP】

Earnings Report

TOKURA CORPORATION <1892> [NSE-M] announced its financial results in the afternoon session on November 12th (13:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a profit of 487 million yen (compared to a loss of 53 million yen in the same period last year). However, The progress rate against the 1.7 billion yen full-year plan was 28.6%, also falling below the five-year average of 38.3%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to drop by 31.5% from the same period last year to 1.21 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 5.0 times that of the same period last year, reaching 227 million yen. The operating profit margin improved from 0.1% in the same period last year to 1.7%.

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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	25,286	-146	-80	-153	-73.7	ー	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	25,147	-136	-53	-73	-35.2	ー	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	34,090	477	487	418	202.2	28.6	Nov 12, 2024	J-GAAP
YoY	+35.6%	－	－	－	－

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	34,090	470	480	410	197.6	－	Nov 6, 2024	J-GAAP
Apr - Sep, 2024 Results	34,090	477	487	418	202.2	－	Nov 12, 2024	J-GAAP
Revision Rate	0.0%	+1.5%	+1.5%	+2.0%	+2.3%

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	38,544	1,752	1,770	1,236	590.2	150	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	40,910	1,123	1,213	782	376.8	150	Nov 12, 2024	J-GAAP
YoY	+6.1%	-35.9%	-31.5%	-36.7%	-36.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	58,523	609	649	590	282.7	150	May 12, 2023	J-GAAP
Mar, 2024	63,691	1,616	1,717	1,163	555.3	150	May 10, 2024	J-GAAP
Mar, 2025 Guidance	75,000	1,600	1,700	1,200	578.3	150	May 10, 2024	J-GAAP
YoY	+17.8%	-1.0%	-1.0%	+3.2%	+4.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	13,527	18	45	33	15.9	0.1	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	18,446	1,142	1,138	756	361.4	6.2	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	20,098	610	632	480	229.2	3.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	16,545	177	260	196	95.1	1.1	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	17,545	300	227	222	107.4	1.7	Nov 12, 2024	J-GAAP
YoY	+29.7%	+1,566.7%	+404.4%	+572.7%	+574.2%