Tokai Kisen Co., Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 88%

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Wed Nov 13, 2024 3:30 pm JST Earnings

9173 Tokai Kisen Co., Ltd. 【J-GAAP】

Earnings Report

Tokai Kisen Co., Ltd. <9173> [TSE-S] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit/loss for the cumulative third quarter of the fiscal year ending December 2024 (January to September) turned into a profit of 546 million yen (compared to a loss of 311 million yen in the same period last year).

In addition, the full-year consolidated ordinary profit has been revised upward by 87.5%, from the previous forecast of 240 million yen to 450 million yen (compared to a loss of 579 million yen in the previous period).

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) is expected to increase by 24.8%, from the previous forecast of 846 million yen to 1.05 billion yen (compared to 155 million yen in the same period of the previous year), increasing the growth rate from 5.5 times to 6.8 times.

At the same time, the year-end lump-sum dividend remains undecided.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit surged to 2.7 times that of the same period last year, reaching 1.15 billion yen. The operating profit margin jumped from 10.9% in the same period last year to 24.9%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	10,850	684	636	522	238.1	212.7	Nov 8, 2022	J-GAAP
Jan - Sep, 2023	10,136	-382	-311	-325	-148.5	ー	Nov 13, 2023	J-GAAP
Jan - Sep, 2024	11,307	599	546	300	136.9	121.3	Nov 13, 2024	J-GAAP
YoY	+11.6%	－	－	－	－

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	8,567	883	846	570	259.7	－	Aug 13, 2024	J-GAAP
Jul - Dec, 2024 New	8,047	1,063	1,056	610	277.9	－	Nov 13, 2024	J-GAAP
Revision Rate	-6.1%	+20.4%	+24.8%	+7.0%	+7.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	15,120	300	240	180	82.0	－	Feb 15, 2024	J-GAAP
Dec, 2024 New	14,600	480	450	220	100.2	－	Nov 13, 2024	J-GAAP
Revision Rate	-3.4%	+60.0%	+87.5%	+22.2%	+22.2%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	7,078	194	155	49	22.4	0	Feb 15, 2024	J-GAAP
Jul - Dec, 2024 Guidance	8,047	1,063	1,056	610	277.9	－	Nov 13, 2024	J-GAAP
YoY	+13.7%	+447.9%	+581.3%	+1,144.9%	+1,143.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	13,929	452	299	180	82.4	0	Feb 14, 2023	J-GAAP
Dec, 2023	13,176	-629	-579	-580	-264.6	0	Feb 15, 2024	J-GAAP
Dec, 2024 Guidance	14,600	480	450	220	100.2	－	Nov 13, 2024	J-GAAP
YoY	+10.8%	－	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,038	441	423	304	138.9	10.9	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	3,040	-247	-268	-255	-116.3	-8.1	Feb 15, 2024	J-GAAP
Jan - Mar, 2024	3,134	-153	-161	-134	-61.4	-4.9	May 14, 2024	J-GAAP
Apr - Jun, 2024	3,419	-430	-445	-256	-116.7	-12.6	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	4,754	1,182	1,152	690	314.9	24.9	Nov 13, 2024	J-GAAP
YoY	+17.7%	+168.0%	+172.3%	+127.0%	+126.6%