TYK CORPORATION, The Current Fiscal Year Net Income Revised Upward to an Unexpected 7% Increase, Adds to Record High Profit, Dividend Revised Upward by 1.5 yen

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Thu Nov 14, 2024 3:30 pm JST Earnings

5363 TYK CORPORATION 【J-GAAP】

Earnings Report

TYK CORPORATION <5363> [TSE-S] announced its financial results after the market closed on November 14th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 11.1% from the same period last year, reaching 1.51 billion yen, resulting in an increase in profits compared to the previous forecast of a 14.7% decrease.

In addition, the full-year consolidated net income has been revised upward by 9.4%, from the previous forecast of 2.33 billion yen to 2.55 billion yen (compared to 2.37 billion yen in the previous period), record profits reach three consecutive terms, turning to a 7.2% increase in the consolidated net income outlook.

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 grow by 2.1% from the same period last year, reaching 1.03 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 15.8 yen to 17.3 yen (compared to 16.2 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income decreased to 434 million yen, a 26.7% decrease compared to the same period last year. However, the operating profit margin rose from 11.4% in the same period last year to 13.8%.

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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	13,998	1,621	2,042	1,110	25.1	53.8	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	15,162	1,666	2,189	1,366	30.9	54.0	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	15,642	2,138	2,365	1,517	34.2	59.1	Nov 14, 2024	J-GAAP
YoY	+3.2%	+28.3%	+8.0%	+11.1%	+11.0%

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	15,315	1,735	2,000	1,165	26.3	7.50	May 17, 2024	J-GAAP
Apr - Sep, 2024 Results	15,642	2,138	2,365	1,517	34.2	8.50	Nov 14, 2024	J-GAAP
Revision Rate	+2.1%	+23.2%	+18.3%	+30.2%	+30.3%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	30,630	3,470	4,000	2,330	52.5	15.80	May 17, 2024	J-GAAP
Mar, 2025 New	30,630	3,470	4,000	2,550	57.5	17.30	Nov 14, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	+9.4%	+9.4%

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	14,849	1,516	1,862	1,012	22.8	8.20	May 17, 2024	J-GAAP
Oct - Mar, 2024 Guidance	14,988	1,332	1,635	1,033	23.3	8.80	Nov 14, 2024	J-GAAP
YoY	+0.9%	-12.1%	-12.2%	+2.1%	+2.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	28,680	3,199	3,797	2,115	47.8	12	May 19, 2023	J-GAAP
Mar, 2024	30,011	3,182	4,051	2,378	53.7	16.20	May 17, 2024	J-GAAP
Mar, 2025 Guidance	30,630	3,470	4,000	2,550	57.5	17.30	Nov 14, 2024	J-GAAP
YoY	+2.1%	+9.1%	-1.3%	+7.2%	+7.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,901	903	986	592	13.4	11.4	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	7,425	768	902	474	10.7	10.3	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	7,424	748	960	538	12.1	10.1	May 17, 2024	J-GAAP
Apr - Jun, 2024	7,836	1,059	1,483	1,083	24.5	13.5	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	7,806	1,079	882	434	9.8	13.8	Nov 14, 2024	J-GAAP
YoY	-1.2%	+19.5%	-10.5%	-26.7%	-26.7%