TOWA FOOD SERVICE CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 33%, The Undetermined Dividend to Rise by 1 yen

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Fri Nov 29, 2024 2:40 pm JST Earnings

3329 TOWA FOOD SERVICE CO.,LTD. 【J-GAAP】

Earnings Report

TOWA FOOD SERVICE CO.,LTD. <3329> [TSE Std] announced its financial results in the afternoon session on November 29th (14:40). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending April 2025 (May to October) increased by 4.2% from the same period last year, reaching 468 million yen, resulting in an increase in profits compared to the previous forecast of a 28.7% decrease.

In addition, the full-year ordinary profit has been revised upward by 33.3%, from the previous forecast of 750 million yen to 1 billion yen (compared to 1.04 billion yen in the previous period), and the declining rate is expected to decrease from 28.5% to 4.7%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the ordinary profit for the November to April period (second half) is expected to decrease by 11.3% from the same period last year to 532 million yen.

In light of the strong performance, the company has decided to implement a annual dividend of 20 yen for the current fiscal year, which was previously undecided (compared to 19 yen in the prior term).

In the most recent three-month period, from August to October (2Q), the ordinary profit grew by 29.6% from the same period last year, reaching 241 million yen. The operating profit margin improved from 5.9% in the same period last year to 7.3%.

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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
May - Oct, 2022	5,103	175	194	114	14.2	29.6	Nov 30, 2022	J-GAAP
May - Oct, 2023	6,020	427	449	274	34.0	42.8	Nov 28, 2023	J-GAAP
May - Oct, 2024	6,285	461	468	276	34.2	46.8	Nov 29, 2024	J-GAAP
YoY	+4.4%	+8.0%	+4.2%	+0.7%	+0.6%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May - Oct, 2024 Guidance	5,900	300	320	190	23.6	－	May 30, 2024	J-GAAP
May - Oct, 2024 Results	6,285	461	468	276	34.2	10	Nov 29, 2024	J-GAAP
Revision Rate	+6.5%	+53.7%	+46.3%	+45.3%	+45.4%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr, 2025 Prev	12,000	700	750	440	54.5	－	May 30, 2024	J-GAAP
Apr, 2025 New	12,800	950	1,000	650	80.6	20	Nov 29, 2024	J-GAAP
Revision Rate	+6.7%	+35.7%	+33.3%	+47.7%	+47.7%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Nov - Apr, 2023	6,362	570	600	430	53.3	10	May 30, 2024	J-GAAP
Nov - Apr, 2024 Guidance	6,515	489	532	374	46.4	10	Nov 29, 2024	J-GAAP
YoY	+2.4%	-14.2%	-11.3%	-13.0%	-13.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr, 2023	10,846	614	656	425	52.8	11	May 30, 2023	J-GAAP
Apr, 2024	12,382	997	1,049	704	87.3	19	May 30, 2024	J-GAAP
Apr, 2025 Guidance	12,800	950	1,000	650	80.6	20	Nov 29, 2024	J-GAAP
YoY	+3.4%	-4.7%	-4.7%	-7.7%	-7.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Aug - Oct, 2023	2,996	176	186	111	13.8	5.9	Nov 28, 2023	J-GAAP
Nov - Jan, 2023	3,224	286	297	180	22.4	8.9	Feb 27, 2024	J-GAAP
Feb - Apr, 2024	3,138	284	303	250	31.0	9.1	May 30, 2024	J-GAAP
May - Jul, 2024	3,153	231	227	138	17.2	7.3	Aug 29, 2024	J-GAAP
Aug - Oct, 2024	3,132	230	241	138	17.1	7.3	Nov 29, 2024	J-GAAP
YoY	+4.5%	+30.7%	+29.6%	+24.3%	+24.2%