The Takigami Steel Construction Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Downward by 50%

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Thu Nov 14, 2024 3:00 pm JST Earnings

5918 The Takigami Steel Construction Co.,Ltd. 【J-GAAP】

Earnings Report

The Takigami Steel Construction Co.,Ltd. <5918> [TSE-S] announced its financial results in the afternoon session on November 14th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 97.9% from the same period last year to 13 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 50.0%, from the previous forecast of 900 million yen to 450 million yen (compared to 1.21 billion yen in the previous period), leading to an increase in the profit decline rate from 26.2% to 63.1%.

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 decrease by 26.8% from the same period last year to 437 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 188 million yen (compared to a profit of 10 million yen in the same period last year). The operating profit/loss margin drastically worsened from -0.9% in the same period last year to -4.8%.

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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	8,379	218	439	427	195.3	53.2	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	10,781	340	622	449	204.9	51.0	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	10,869	-320	13	0	-0.3	2.9	Nov 14, 2024	J-GAAP
YoY	+0.8%	－	-97.9%	－	－

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	10,869	-320	13	0	0.0	50	Nov 8, 2024	J-GAAP
Apr - Sep, 2024 Results	10,869	-320	13	0	-0.3	50	Nov 14, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	26,300	450	900	550	249.9	100	May 15, 2024	J-GAAP
Mar, 2025 New	23,500	0	450	250	113.6	100	Nov 14, 2024	J-GAAP
Revision Rate	-10.6%	－	-50.0%	-54.5%	-54.5%

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	12,547	285	597	537	244.7	50	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	12,631	320	437	250	113.6	50	Nov 14, 2024	J-GAAP
YoY	+0.7%	+12.3%	-26.8%	-53.4%	-53.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	18,617	363	825	1,017	464.3	100	May 15, 2023	J-GAAP
Mar, 2024	23,328	625	1,219	986	449.3	100	May 15, 2024	J-GAAP
Mar, 2025 Guidance	23,500	0	450	250	113.6	100	Nov 14, 2024	J-GAAP
YoY	+0.7%	－	-63.1%	-74.6%	-74.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,964	-45	10	1	0.5	-0.9	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	6,042	-100	140	221	100.8	-1.7	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	6,505	385	457	316	144.0	5.9	May 15, 2024	J-GAAP
Apr - Jun, 2024	6,027	-87	201	154	70.3	-1.4	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	4,842	-233	-188	-154	-70.6	-4.8	Nov 14, 2024	J-GAAP
YoY	-2.5%	-417.8%	－	－	－