Topre Corporation, The Current Fiscal Year Ordinary Profit Revised Upward by 25%, Dividend Revised Upward by 10 yen

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Thu Nov 14, 2024 4:00 pm JST Earnings

5975 Topre Corporation 【J-GAAP】

Earnings Report

Topre Corporation <5975> [TSE-P] announced its financial results after the market closed on November 14th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 74.2% from the same period last year to 4.97 billion yen, fell short of the previous forecast of 6.5 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 25.0%, from the previous forecast of 16 billion yen to 20 billion yen (compared to 37.8 billion yen in the previous period), and the declining rate is expected to decrease from 57.7% to 47.1%.

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 19.0% from the same period last year to 15 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 60 yen to 70 yen (compared to 55 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 5.59 billion yen (compared to a profit of 6.81 billion yen in the same period last year). However, the operating profit margin improved from 3.5% 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	129,641	208	16,592	9,988	190.3	100.4	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	165,731	6,148	19,292	13,485	256.9	51.0	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	178,703	10,035	4,972	2,739	53.6	24.9	Nov 14, 2024	J-GAAP
YoY	+7.8%	+63.2%	-74.2%	-79.7%	-79.1%

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	180,000	8,500	6,500	4,000	79.0	30	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	178,703	10,035	4,972	2,739	53.6	35	Nov 14, 2024	J-GAAP
Revision Rate	-0.7%	+18.1%	-23.5%	-31.5%	-32.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	370,000	20,000	16,000	10,000	197.5	60	May 14, 2024	J-GAAP
Mar, 2025 New	370,000	20,000	20,000	13,000	256.8	70	Nov 14, 2024	J-GAAP
Revision Rate	0.0%	0.0%	+25.0%	+30.0%	+30.0%

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	189,191	16,258	18,548	3,614	69.1	30	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	191,297	9,965	15,028	10,261	202.7	35	Nov 14, 2024	J-GAAP
YoY	+1.1%	-38.7%	-19.0%	+183.9%	+193.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	290,416	7,330	16,518	10,009	190.7	30	May 12, 2023	J-GAAP
Mar, 2024	354,922	22,406	37,840	17,099	326.7	55	May 14, 2024	J-GAAP
Mar, 2025 Guidance	370,000	20,000	20,000	13,000	256.8	70	Nov 14, 2024	J-GAAP
YoY	+4.2%	-10.7%	-47.1%	-24.0%	-21.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	86,387	2,993	6,817	4,405	83.9	3.5	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	93,846	7,063	1,824	894	17.0	7.5	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	95,345	9,195	16,724	2,720	52.0	9.6	May 14, 2024	J-GAAP
Apr - Jun, 2024	90,583	4,706	10,563	7,011	136.8	5.2	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	88,120	5,329	-5,591	-4,272	-83.6	6.0	Nov 14, 2024	J-GAAP
YoY	+2.0%	+78.0%	－	－	－