TORIDOLL Holdings Corporation, The Current Fiscal Year Net Income Revised Downward to an Unexpected 14% Decrease

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Thu Nov 14, 2024 1:10 pm JST Earnings

3397 TORIDOLL Holdings Corporation 【IFRS】

Earnings Report

TORIDOLL Holdings Corporation <3397> [TSE-P] announced its financial results (based on IFRS) in the afternoon session on November 14th (13:10). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 36.7% from the same period last year to 2.79 billion yen, fell short of the previous forecast of 4.22 billion yen.

In addition, the full-year consolidated net income has downwardly by 24.1%, from the previous forecast of 6.46 billion yen to 4.9 billion yen (compared to 5.67 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 13.7% decrease in profit.

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 expand by 67.7% from the same period last year, reaching 2.1 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income decreased to 1.28 billion yen, a 27.5% decrease compared to the same period last year. The operating profit margin worsened from 6.5% in the same period last year to 6.0%.

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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	91,970	6,479	7,464	4,418	48.6	96.6	Nov 11, 2022	IFRS
Apr - Sep, 2023	112,602	7,802	7,936	4,422	48.6	75.2	Nov 14, 2023	IFRS
Apr - Sep, 2024	133,720	7,558	6,585	2,799	29.8	64.6	Nov 14, 2024	IFRS
YoY	+18.8%	-3.1%	-17.0%	-36.7%	-38.6%

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	130,570	8,660	7,760	4,220	48.3	0	May 14, 2024	IFRS
Apr - Sep, 2024 Results	133,720	7,558	6,585	2,799	29.8	0	Nov 14, 2024	IFRS
Revision Rate	+2.4%	-12.7%	-15.1%	-33.7%	-38.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	265,000	14,100	12,300	6,460	73.8	10	May 14, 2024	IFRS
Mar, 2025 New	265,000	11,600	10,200	4,900	56.0	10	Nov 14, 2024	IFRS
Revision Rate	0.0%	-17.7%	-17.1%	-24.1%	-24.2%

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	119,350	3,587	2,615	1,037	11.1	9	May 14, 2024	IFRS
Oct - Mar, 2024 Guidance	131,280	4,042	3,615	2,101	24.0	10	Nov 14, 2024	IFRS
YoY	+10.0%	+12.7%	+38.2%	+102.6%	+116.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	188,320	7,466	7,726	3,827	39.6	7.50	May 15, 2023	IFRS
Mar, 2024	231,952	11,389	10,551	5,459	58.2	9	May 14, 2024	IFRS
Mar, 2025 Guidance	265,000	11,600	10,200	4,900	56.0	10	Nov 14, 2024	IFRS
YoY	+14.2%	+1.9%	-3.3%	-10.2%	-3.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	59,938	3,885	3,476	1,775	19.5	6.5	Nov 14, 2023	IFRS
Oct - Dec, 2023	59,740	3,549	2,712	1,800	19.7	5.9	Feb 14, 2024	IFRS
Jan - Mar, 2024	59,610	38	-97	-763	-8.1	0.1	May 14, 2024	IFRS
Apr - Jun, 2024	65,856	3,518	4,034	1,513	16.2	5.3	Aug 14, 2024	IFRS
Jul - Sep, 2024	67,864	4,040	2,551	1,286	13.7	6.0	Nov 14, 2024	IFRS
YoY	+13.2%	+4.0%	-26.6%	-27.5%	-29.7%