TOAMI CORPORATION, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 85% Decrease

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Tue Nov 12, 2024 4:00 pm JST Earnings

5973 TOAMI CORPORATION 【J-GAAP】

Earnings Report

TOAMI CORPORATION <5973> [TSE-S] announced its financial results after the market closed on November 12th (16:00). 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 87 million yen (compared to a profit of 98 million yen in the same period last year).

In addition, the full-year consolidated ordinary profit has downwardly by 86.1%, from the previous forecast of 360 million yen to 50 million yen (compared to 337 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 85.2% decrease in profit.

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 drop by 42.7% from the same period last year to 137 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 58 million yen (compared to a profit of 23 million yen in the same period last year). The operating profit/loss margin drastically worsened from 1.4% in the same period last year to -1.9%.

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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	7,095	-69	-87	-43	-7.1	ー	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	8,726	115	98	62	10.4	29.1	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	8,571	-137	-87	-66	-11.6	ー	Nov 12, 2024	J-GAAP
YoY	-1.8%	－	－	－	－

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	ー	ー	ー	ー	－	8	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	8,571	-137	-87	-66	-11.6	8	Nov 12, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	19,500	290	360	200	34.9	16	May 13, 2024	J-GAAP
Mar, 2025 New	18,500	0	50	0	0.0	16	Nov 12, 2024	J-GAAP
Revision Rate	-5.1%	－	-86.1%	－	－

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	8,902	209	239	185	31.0	8	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	9,929	137	137	66	0.0	8	Nov 12, 2024	J-GAAP
YoY	+11.5%	-34.4%	-42.7%	-64.3%	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	15,414	-106	-95	-72	-11.9	15	May 10, 2023	J-GAAP
Mar, 2024	17,628	324	337	247	41.4	15.50	May 13, 2024	J-GAAP
Mar, 2025 Guidance	18,500	0	50	0	0.0	16	Nov 12, 2024	J-GAAP
YoY	+4.9%	－	-85.2%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,346	59	23	-29	-4.9	1.4	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	4,733	139	167	117	19.5	2.9	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	4,169	70	72	68	11.4	1.7	May 13, 2024	J-GAAP
Apr - Jun, 2024	4,053	-51	-29	-18	-3.2	-1.3	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	4,518	-86	-58	-48	-8.4	-1.9	Nov 12, 2024	J-GAAP
YoY	+4.0%	－	－	-65.5%	-73.2%