TOWA PHARMACEUTICAL CO.,LTD., July-September (2Q) Ordinary Profit Decreases by 47%

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Tue Nov 12, 2024 3:30 pm JST Earnings

4553 TOWA PHARMACEUTICAL CO.,LTD. 【J-GAAP】

Earnings Report

TOWA PHARMACEUTICAL CO.,LTD. <4553> [TSE-P] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 10.3 billion yen, a 1.0% increase compared to the same period last year. However, The progress rate against the 22.7 billion yen full-year plan was 45.5%, also falling below the five-year average of 56.5%.

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 decrease by 13.2% from the same period last year to 12.3 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 1.74 billion yen, a 46.7% decrease compared to the same period last year. However, the operating profit margin improved from 5.5% in the same period last year to 8.0%.

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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	90,500	3,220	4,609	2,692	54.7	89.7	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	107,396	7,003	10,233	6,953	141.3	41.8	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	123,404	10,513	10,338	6,555	133.2	45.5	Nov 12, 2024	J-GAAP
YoY	+14.9%	+50.1%	+1.0%	-5.7%	-5.7%

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	123,400	10,500	10,300	6,500	132.0	30	Nov 5, 2024	J-GAAP
Apr - Sep, 2024 Results	123,404	10,513	10,338	6,555	133.2	30	Nov 12, 2024	J-GAAP
Revision Rate	+0.0%	+0.1%	+0.4%	+0.8%	+0.9%

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	120,538	10,644	14,244	9,220	187.3	30	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	138,696	12,787	12,362	8,445	171.6	30	Nov 12, 2024	J-GAAP
YoY	+15.1%	+20.1%	-13.2%	-8.4%	-8.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	208,859	5,514	5,141	2,201	44.7	60	May 15, 2023	J-GAAP
Mar, 2024	227,934	17,647	24,477	16,173	328.6	60	May 14, 2024	J-GAAP
Mar, 2025 Guidance	262,100	23,300	22,700	15,000	304.7	60	Nov 5, 2024	J-GAAP
YoY	+15.0%	+32.0%	-7.3%	-7.3%	-7.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	52,848	2,907	3,274	2,203	44.8	5.5	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	60,929	6,201	6,936	4,565	92.8	10.2	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	59,609	4,443	7,308	4,655	94.6	7.5	May 14, 2024	J-GAAP
Apr - Jun, 2024	62,566	5,672	8,593	5,495	111.6	9.1	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	60,838	4,841	1,745	1,060	21.5	8.0	Nov 12, 2024	J-GAAP
YoY	+15.1%	+66.5%	-46.7%	-51.9%	-51.9%