Tokyo Electron Limited, The Current Fiscal Year Ordinary Profit Revised Upward by 10%, Exceeded record profit forecast, Dividend Revised Upward by 52 yen

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Tue Nov 12, 2024 4:00 pm JST Earnings

8035 Tokyo Electron Limited 【J-GAAP】

Earnings Report

Tokyo Electron Limited <8035> [TSE-P] announced its financial results after the market closed on November 12th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 321 billion yen, an increase of 77.2% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 9.8%, from the previous forecast of 630 billion yen to 692 billion yen (compared to 463 billion yen in the previous period), increasing the growth rate from 36.0% to 49.4%. The company has further increased its previous forecast of record profits for the first time in two years.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to expand by 31.5% from the same period last year, reaching 370 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 519 yen to 571 yen (compared to 393 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 56.5% from the same period last year, reaching 153 billion yen. The operating profit margin rose from 22.5% in the same period last year to 26.2%.

Kabutan News

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	1,182,897	350,165	353,319	267,346	571.8	56.5	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	819,572	178,578	181,282	137,491	295.1	39.1	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	1,121,626	313,904	321,181	243,903	528.7	46.4	Nov 12, 2024	J-GAAP
YoY	+36.9%	+75.8%	+77.2%	+77.4%	+79.1%

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	1,100,000	288,000	290,000	218,000	473.2	237	Aug 8, 2024	J-GAAP
Apr - Sep, 2024 Results	1,121,626	313,904	321,181	243,903	528.7	265	Nov 12, 2024	J-GAAP
Revision Rate	+2.0%	+9.0%	+10.8%	+11.9%	+11.7%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	2,300,000	627,000	630,000	478,000	1,039.3	519	Aug 8, 2024	J-GAAP
Mar, 2025 New	2,400,000	680,000	692,000	526,000	1,143.6	571	Nov 12, 2024	J-GAAP
Revision Rate	+4.3%	+8.5%	+9.8%	+10.0%	+10.0%

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	1,010,955	277,685	281,903	226,472	487.7	245	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,278,374	366,096	370,819	282,097	613.3	306	Nov 12, 2024	J-GAAP
YoY	+26.5%	+31.8%	+31.5%	+24.6%	+25.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,209,025	617,723	625,185	471,584	1,007.8	570.33	May 11, 2023	J-GAAP
Mar, 2024	1,830,527	456,263	463,185	363,963	783.8	393	May 10, 2024	J-GAAP
Mar, 2025 Guidance	2,400,000	680,000	692,000	526,000	1,143.6	571	Nov 12, 2024	J-GAAP
YoY	+31.1%	+49.0%	+49.4%	+44.5%	+45.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	427,826	96,145	98,236	73,179	157.1	22.5	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	463,662	132,460	134,682	101,533	218.4	28.6	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	547,293	145,225	147,221	124,939	269.0	26.5	May 10, 2024	J-GAAP
Apr - Jun, 2024	555,071	165,733	167,398	126,189	273.2	29.9	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	566,555	148,171	153,783	117,714	255.2	26.2	Nov 12, 2024	J-GAAP
YoY	+32.4%	+54.1%	+56.5%	+60.9%	+62.4%