Tokyo Kisen Co.,Ltd., First Half Ordinary Profit Turns to Loss, July-September Ordinary Profit Turns to Loss

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Tue Nov 12, 2024 2:30 pm JST Earnings

9193 Tokyo Kisen Co.,Ltd. 【J-GAAP】

Earnings Report

Tokyo Kisen Co.,Ltd. <9193> [TSE-S] announced its financial results in the afternoon session on November 12th (14:30). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 28 million yen (compared to a profit of 432 million yen in the same period last year).

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 significant drop by 90.9% from the same period last year to 23 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 15 million yen (compared to a profit of 347 million yen in the same period last year). The operating profit margin drastically worsened from 8.2% in the same period last year to 0.1%.

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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	5,776	-58	94	35	3.6	21.5	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	6,356	267	432	193	19.5	63.2	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	5,976	-134	-28	223	22.4	ー	Nov 12, 2024	J-GAAP
YoY	-6.0%	－	－	+15.5%	+15.1%

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	5,976	-134	-28	223	22.4	－	Nov 8, 2024	J-GAAP
Apr - Sep, 2024 Results	5,976	-134	-28	223	22.4	－	Nov 12, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	+0.1%

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	6,159	101	252	379	38.2	20	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,264	-45	23	2,040	205.0	50	Nov 8, 2024	J-GAAP
YoY	+1.7%	－	-90.9%	+438.3%	+437.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	11,865	92	438	416	41.8	20	May 12, 2023	J-GAAP
Mar, 2024	12,515	368	684	572	57.6	20	May 15, 2024	J-GAAP
Mar, 2025 Guidance	12,240	-179	-5	2,263	227.4	50	Nov 8, 2024	J-GAAP
YoY	-2.2%	－	－	+295.6%	+295.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,394	278	347	214	21.6	8.2	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	3,164	116	222	367	36.9	3.7	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	2,995	-15	30	12	1.2	-0.5	May 15, 2024	J-GAAP
Apr - Jun, 2024	2,858	-137	-13	289	29.2	-4.8	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	3,118	3	-15	-66	-6.6	0.1	Nov 12, 2024	J-GAAP
YoY	-8.1%	-98.9%	－	－	－