TOC Co.,Ltd, First Half Ordinary Profit Decreases by 32%

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Tue Nov 12, 2024 3:30 pm JST Earnings

8841 TOC Co.,Ltd 【J-GAAP】

Earnings Report

TOC Co.,Ltd <8841> [TSE-S] 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) dropped by 32.3% from the same period last year to 983 million yen. The progress rate against the 1.5 billion yen full-year plan was 65.5%, also surpassing the five-year average of 53.8%.

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 57.3% from the same period last year to 517 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 437 million yen, a 16.4% decrease compared to the same period last year. The operating profit margin decreased from 13.5% in the same period last year to 11.2%.

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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	8,054	2,635	2,860	2,048	21.6	61.6	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	6,824	1,239	1,452	5,922	63.0	54.5	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	6,275	681	983	1,268	13.6	65.5	Nov 12, 2024	J-GAAP
YoY	-8.0%	-45.0%	-32.3%	-78.6%	-78.5%

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	6,270	680	980	1,260	13.5	5	Nov 1, 2024	J-GAAP
Apr - Sep, 2024 Results	6,275	681	983	1,268	13.6	5	Nov 12, 2024	J-GAAP
Revision Rate	+0.1%	+0.1%	+0.3%	+0.6%	+0.3%

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	6,891	1,046	1,212	-799	-8.5	5	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,625	319	517	332	3.6	5	Nov 12, 2024	J-GAAP
YoY	-3.9%	-69.5%	-57.3%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	15,686	4,266	4,643	3,257	34.3	10	May 9, 2023	J-GAAP
Mar, 2024	13,715	2,285	2,664	5,123	54.6	10	May 14, 2024	J-GAAP
Mar, 2025 Guidance	12,900	1,000	1,500	1,600	17.2	10	Nov 1, 2024	J-GAAP
YoY	-5.9%	-56.2%	-43.7%	-68.8%	-68.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,347	453	523	5,286	56.2	13.5	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	3,486	675	754	509	5.4	19.4	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	3,405	371	458	-1,308	-13.9	10.9	May 14, 2024	J-GAAP
Apr - Jun, 2024	2,993	312	546	386	4.1	10.4	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	3,282	369	437	882	9.4	11.2	Nov 12, 2024	J-GAAP
YoY	-1.9%	-18.5%	-16.4%	-83.3%	-83.2%