TOREX SEMICONDUCTOR LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 90%

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Thu Nov 14, 2024 4:00 pm JST Earnings

6616 TOREX SEMICONDUCTOR LTD. 【J-GAAP】

Earnings Report

TOREX SEMICONDUCTOR LTD. <6616> [TSE-P] announced its financial results after the market closed on November 14th (16:00). 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 69 million yen (compared to a loss of 266 million yen in the same period last year).

However, the full-year consolidated ordinary profit has downwardly by 90.0%, from the previous forecast of 1 billion yen to 100 million yen (compared to a loss of 2.45 billion yen in the previous period).

Based on the first-half performance announced by the company and the 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 31 million yen (compared to a loss of 2.18 billion yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary loss expanded to a loss of 271 million yen (compared to a loss of 254 million yen in the same period last year). However, the operating profit/loss margin improved from -1.9% in the same period last year to -0.5%.

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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	17,384	3,410	3,531	2,461	224.9	88.7	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	13,252	89	-266	-199	-18.2	ー	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	12,524	336	69	5	0.5	69.0	Nov 14, 2024	J-GAAP
YoY	-5.5%	+277.5%	－	－	－

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	ー	ー	ー	ー	－	28	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	12,524	336	69	5	0.5	28	Nov 14, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	28,000	1,000	1,000	700	63.6	56	May 14, 2024	J-GAAP
Mar, 2025 New	25,000	400	100	0	0.0	56	Nov 14, 2024	J-GAAP
Revision Rate	-10.7%	-60.0%	-90.0%	－	－

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	12,499	-1,867	-2,186	-4,098	-372.6	28	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	12,476	64	31	-5	0.0	28	Nov 14, 2024	J-GAAP
YoY	-0.2%	－	－	+99.9%	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	31,956	3,976	3,981	2,179	198.7	56	May 12, 2023	J-GAAP
Mar, 2024	25,751	-1,778	-2,452	-4,297	-390.7	56	May 14, 2024	J-GAAP
Mar, 2025 Guidance	25,000	400	100	0	0.0	56	Nov 14, 2024	J-GAAP
YoY	-2.9%	－	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,848	-133	-254	-269	-24.5	-1.9	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	6,305	-501	-636	-613	-55.8	-7.9	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	6,194	-1,366	-1,550	-3,485	-316.9	-22.1	May 14, 2024	J-GAAP
Apr - Jun, 2024	6,251	365	340	83	7.6	5.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	6,273	-29	-271	-78	-8.0	-0.5	Nov 14, 2024	J-GAAP
YoY	-8.4%	+78.2%	-6.7%	+71.0%	+67.5%