TIGERS POLYMER CORPORATION, The Current Fiscal Year Ordinary Profit Revised Downward by 31%

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Wed Nov 13, 2024 4:00 pm JST Earnings

4231 TIGERS POLYMER CORPORATION 【J-GAAP】

Earnings Report

TIGERS POLYMER CORPORATION <4231> [TSE-S] announced its financial results after the market closed on November 13th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 43.4% from the same period last year to 1.47 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 30.6%, from the previous forecast of 3.6 billion yen to 2.5 billion yen (compared to 4.28 billion yen in the previous period), leading to an increase in the profit decline rate from 16.0% to 41.7%.

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 39.1% from the same period last year to 1.03 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 324 million yen, a 77.3% decrease compared to the same period last year. The operating profit margin drastically worsened from 9.1% in the same period last year to 4.4%.

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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	21,867	-221	756	2	0.1	40.4	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	24,067	1,827	2,596	1,856	93.3	60.6	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	24,647	1,273	1,470	795	40.1	58.8	Nov 13, 2024	J-GAAP
YoY	+2.4%	-30.3%	-43.4%	-57.2%	-57.1%

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	ー	ー	ー	ー	－	17	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	24,647	1,273	1,470	795	40.1	17	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	50,000	3,400	3,600	2,200	111.4	34	May 15, 2024	J-GAAP
Mar, 2025 New	46,000	2,200	2,500	1,600	81.0	34	Nov 13, 2024	J-GAAP
Revision Rate	-8.0%	-35.3%	-30.6%	-27.3%	-27.3%

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	23,795	1,367	1,690	1,163	58.4	32	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	21,353	927	1,030	805	40.8	17	Nov 13, 2024	J-GAAP
YoY	-10.3%	-32.2%	-39.1%	-30.8%	-30.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	45,285	1,090	1,869	816	41.0	12	May 10, 2023	J-GAAP
Mar, 2024	47,862	3,194	4,286	3,019	151.7	47	May 15, 2024	J-GAAP
Mar, 2025 Guidance	46,000	2,200	2,500	1,600	81.0	34	Nov 13, 2024	J-GAAP
YoY	-3.9%	-31.1%	-41.7%	-47.0%	-46.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	12,572	1,140	1,427	1,135	57.0	9.1	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	13,020	1,177	1,097	701	35.2	9.0	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	10,775	190	593	462	23.2	1.8	May 15, 2024	J-GAAP
Apr - Jun, 2024	11,891	707	1,146	727	36.6	5.9	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	12,756	566	324	68	3.4	4.4	Nov 13, 2024	J-GAAP
YoY	+1.5%	-50.4%	-77.3%	-94.0%	-94.0%