Titan Kogyo, Ltd., First Half Ordinary Profit Turns to Profit

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Thu Nov 14, 2024 3:00 pm JST Earnings

4098 Titan Kogyo, Ltd. 【J-GAAP】

Earnings Report

Titan Kogyo, Ltd. <4098> [TSE-S] announced its financial results in the afternoon session on November 14th (15:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a profit of 24 million yen (compared to a loss of 277 million yen in the same period last year). However, The progress rate against the 60 million yen full-year plan was 40.0%, also falling below the five-year average of 55.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a profit of 36 million yen (compared to a loss of 390 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a profit of profit of 72 million yen (compared to a loss of 240 million yen in the same period last year). The operating profit/loss margin drastically improved from -14.7% in the same period last year to 6.2%.

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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	3,895	216	184	159	53.7	54.0	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	3,546	-277	-277	-192	-64.8	ー	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	3,792	50	24	194	65.7	40.0	Nov 14, 2024	J-GAAP
YoY	+6.9%	－	－	－	－

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	3,800	50	25	190	64.0	0	Oct 29, 2024	J-GAAP
Apr - Sep, 2024 Results	3,792	50	24	194	65.7	0	Nov 14, 2024	J-GAAP
Revision Rate	-0.2%	0.0%	-4.0%	+2.1%	+2.6%

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	4,407	-449	-390	-1,488	-501.8	10	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	4,708	30	36	36	12.1	10	Nov 14, 2024	J-GAAP
YoY	+6.8%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	8,070	385	341	322	109.1	20	May 15, 2023	J-GAAP
Mar, 2024	7,953	-726	-667	-1,680	-566.6	10	May 15, 2024	J-GAAP
Mar, 2025 Guidance	8,500	80	60	230	77.5	10	May 15, 2024	J-GAAP
YoY	+6.9%	－	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,615	-238	-240	-166	-56.1	-14.7	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	1,892	-301	-226	-189	-63.9	-15.9	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	2,515	-148	-164	-1,299	-438.1	-5.9	May 15, 2024	J-GAAP
Apr - Jun, 2024	2,103	-55	-48	129	43.7	-2.6	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	1,689	105	72	65	22.0	6.2	Nov 14, 2024	J-GAAP
YoY	+4.6%	－	－	－	－