Thinca Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 55% Decrease

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Thu Nov 14, 2024 4:00 pm JST Earnings

149A Thinca Co.,Ltd. 【J-GAAP】

Earnings Report

Thinca Co.,Ltd. <149A> [TSE-G] announced its financial results after the market closed on November 14th (16:00). The ordinary profit (non-consolidated) for the cumulative third quarter of the fiscal year ending December 2024 (January to September) significantly dropped by 75.0% from the same period last year to 25 million yen.

In addition, the full-year ordinary profit has downwardly by 70.9%, from the previous forecast of 151 million yen to 44 million yen (compared to 98 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 55.1% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the ordinary profit for the July to December period (second half) has downwardly by 74.8%, from the previous forecast of 143 million yen to 36 million yen (compared to 50 million yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 28.0% decrease in profit.

In the most recent three-month period, from July to September (3Q), the ordinary profit significantly dropped to 17 million yen, a 67.3% decrease compared to the same period last year. The operating profit margin sharply declined from 19.4% in the same period last year to 5.6%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2024	896	54	25	13	4.5	56.8	Nov 14, 2024	J-GAAP
YoY	－	－	－	－	－

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	760	134	143	133	42.0	0	Aug 14, 2024	J-GAAP
Jul - Dec, 2024 New	626	36	36	22	7.0	0	Nov 14, 2024	J-GAAP
Revision Rate	-17.6%	-73.1%	-74.8%	-83.5%	-83.5%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	1,353	171	151	133	42.0	0	Mar 27, 2024	J-GAAP
Dec, 2024 New	1,219	73	44	22	7.0	0	Nov 14, 2024	J-GAAP
Revision Rate	-9.9%	-57.3%	-70.9%	-83.5%	-83.5%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	546	54	50	62	23.2	0	Mar 27, 2024	J-GAAP
Jul - Dec, 2024 Guidance	626	36	36	22	7.0	0	Nov 14, 2024	J-GAAP
YoY	+14.7%	-33.3%	-28.0%	-64.5%	-70.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2023	1,040	101	98	108	40.5	0	Mar 27, 2024	J-GAAP
Dec, 2024 Guidance	1,219	73	44	22	7.0	0	Nov 14, 2024	J-GAAP
YoY	+17.2%	-27.7%	-55.1%	-79.6%	-82.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	262	-1	-2	10	3.8	-0.4	Mar 27, 2024	J-GAAP
Jan - Mar, 2024	291	22	1	-3	-1.4	7.6	May 15, 2024	J-GAAP
Apr - Jun, 2024	302	15	7	3	1.5	5.0	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	303	17	17	13	4.5	5.6	Nov 14, 2024	J-GAAP
YoY	－	－	－	－	－