TSUGAMI CORPORATION, The Current Fiscal Year Net Income Revised Upward by 23%, Dividend Revised Upward by 3 yen

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Wed Nov 13, 2024 1:00 pm JST Earnings

6101 TSUGAMI CORPORATION 【IFRS】

Earnings Report

TSUGAMI CORPORATION <6101> [TSE-P] announced its financial results (based on IFRS) in the afternoon session on November 13th (13:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 2.2 times that of the same period last year, reaching 4.81 billion yen.

In addition, the full-year consolidated net income has been revised upward by 23.1%, from the previous forecast of 6.5 billion yen to 8 billion yen (compared to 5.37 billion yen in the previous period), increasing the growth rate from 20.9% to 48.8%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to nearly flat at 3.18 billion yen, up 0.1% from the same period last year.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 51 yen to 54 yen (compared to 48 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income surged to 2.4 times that of the same period last year, reaching 2.1 billion yen. The operating profit margin jumped from 12.4% in the same period last year to 17.2%.

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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	47,965	8,604	8,786	4,270	88.3	53.4	Nov 8, 2022	IFRS
Apr - Sep, 2023	40,294	5,941	6,458	2,191	45.7	46.8	Nov 10, 2023	IFRS
Apr - Sep, 2024	49,795	9,916	9,856	4,813	102.0	ー	Nov 13, 2024	IFRS
YoY	+23.6%	+66.9%	+52.6%	+119.7%	+123.0%

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	49,700	9,900	ー	4,800	100.7	27	Oct 18, 2024	IFRS
Apr - Sep, 2024 Results	49,795	9,916	9,856	4,813	102.0	27	Nov 13, 2024	IFRS
Revision Rate	+0.2%	+0.2%	－	+0.3%	+1.3%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	90,000	15,000	ー	6,500	136.5	51	Oct 18, 2024	IFRS
Mar, 2025 New	97,000	18,500	ー	8,000	168.0	54	Nov 13, 2024	IFRS
Revision Rate	+7.8%	+23.3%	－	+23.1%	+23.1%

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	43,634	7,154	7,337	3,185	66.7	24	May 14, 2024	IFRS
Oct - Mar, 2024 Guidance	47,205	8,584	ー	3,187	66.9	27	Nov 13, 2024	IFRS
YoY	+8.2%	+20.0%	－	+0.1%	+0.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	94,963	16,758	16,467	7,695	159.4	46	May 11, 2023	IFRS
Mar, 2024	83,928	13,095	13,795	5,376	112.6	48	May 14, 2024	IFRS
Mar, 2025 Guidance	97,000	18,500	ー	8,000	168.0	54	Nov 13, 2024	IFRS
YoY	+15.6%	+41.3%	－	+48.8%	+49.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	19,193	2,389	2,458	887	18.5	12.4	Nov 10, 2023	IFRS
Oct - Dec, 2023	22,545	3,809	3,642	1,442	30.1	16.9	Jan 30, 2024	IFRS
Jan - Mar, 2024	21,089	3,345	3,695	1,743	36.5	15.9	May 14, 2024	IFRS
Apr - Jun, 2024	25,731	5,789	6,063	2,705	57.2	22.5	Jul 30, 2024	IFRS
Jul - Sep, 2024	24,064	4,127	3,793	2,108	44.7	17.2	Nov 13, 2024	IFRS
YoY	+25.4%	+72.8%	+54.3%	+137.7%	+141.3%