TOKUDEN CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 16% Increase, Dividend Revised Upward by 3 yen

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Wed Nov 13, 2024 1:00 pm JST Earnings

3437 TOKUDEN CO.,LTD. 【J-GAAP】

Earnings Report

TOKUDEN CO.,LTD. <3437> [TSE-S] announced its financial results in the afternoon session on November 13th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 21.6% from the same period last year to 404 million yen.

However, the full-year consolidated ordinary profit has been revised upward by 96.7%, from the previous forecast of 305 million yen to 600 million yen (compared to 518 million yen in the previous period), turning to a 15.8% increase in the consolidated ordinary profit outlook.

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 surge by 65 times that of the same period last year, reaching 196 million 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 93 yen to 96 yen (compared to 92 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 242 million yen, a 19.1% decrease compared to the same period last year. The operating profit margin decreased from 11.4% in the same period last year to 9.2%.

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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	5,050	553	560	463	293.2	67.9	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	4,829	498	515	357	226.0	99.4	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	4,970	397	404	268	170.0	67.3	Nov 13, 2024	J-GAAP
YoY	+2.9%	-20.3%	-21.6%	-24.9%	-24.8%

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	－	46	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	4,970	397	404	268	170.0	46	Nov 13, 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	9,497	296	305	211	133.5	93	May 15, 2024	J-GAAP
Mar, 2025 New	9,862	580	600	400	253.0	96	Nov 13, 2024	J-GAAP
Revision Rate	+3.8%	+95.9%	+96.7%	+89.6%	+89.6%

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	4,758	-3	3	22	13.9	48	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	4,892	183	196	132	83.5	50	Nov 13, 2024	J-GAAP
YoY	+2.8%	－	+6,433.3%	+500.0%	+498.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	9,699	809	825	696	440.5	46	May 15, 2023	J-GAAP
Mar, 2024	9,587	495	518	379	240.1	92	May 15, 2024	J-GAAP
Mar, 2025 Guidance	9,862	580	600	400	253.0	96	Nov 13, 2024	J-GAAP
YoY	+2.9%	+17.2%	+15.8%	+5.5%	+5.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,472	283	299	209	132.3	11.4	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	2,391	0	5	4	2.5	0.0	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	2,367	-3	-2	18	11.4	-0.1	May 15, 2024	J-GAAP
Apr - Jun, 2024	2,384	160	162	97	61.7	6.7	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	2,586	237	242	171	108.4	9.2	Nov 13, 2024	J-GAAP
YoY	+4.6%	-16.3%	-19.1%	-18.2%	-18.0%