TOYO DENKI SEIZO, First Half Ordinary Profit Increases by 78%

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Tue Jan 14, 2025 3:30 pm JST Earnings

6505 TOYO DENKI SEIZO K.K. 【J-GAAP】

Earnings Report

TOYO DENKI SEIZO K.K. <6505> [TSE Std] announced its financial results after the market closed on January 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending May 2025 (June to November) expanded 0.98 billion yen, an increase 77.5% compared to the same period last year, exceeded the previous forecast of 0.57 billion yen.

The progress rate toward the full-year plan of 1.7 billion yen was 58.1%, also surpassing the five-year average of 33.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the December to May period (2H) is expected to decrease 23.4% from the same period last year to 0.71 billion yen.

In the most recent three-month period, from September to November (2Q), the consolidated ordinary profit surged 2.2 times that of the same period last year, reaching 0.84 billion yen. The operating profit margin significantly improved from 3.1% in the same period last year to 6.8%.

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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
Jun - Nov, 2022	13,821	-80	197	26	3.0	20.0	Jan 12, 2023	J-GAAP
Jun - Nov, 2023	14,817	187	556	318	33.8	37.4	Jan 11, 2024	J-GAAP
Jun - Nov, 2024	19,015	762	987	800	86.2	58.1	Jan 14, 2025	J-GAAP
YoY	+28.3%	+307.5%	+77.5%	+151.6%	+155.1%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun - Nov, 2024 Guidance	17,000	320	570	370	40.3	0	Jul 12, 2024	J-GAAP
Jun - Nov, 2024 Results	19,015	762	987	800	86.2	0	Jan 14, 2025	J-GAAP
Revision Rate	+11.9%	+138.1%	+73.2%	+116.2%	+114.2%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec - May, 2023	17,323	740	931	617	65.7	30	Jul 12, 2024	J-GAAP
Dec - May, 2024 Guidance	17,985	538	713	400	43.9	40	Jan 14, 2025	J-GAAP
YoY	+3.8%	-27.3%	-23.4%	-35.2%	-33.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	31,025	517	987	824	91.9	30	Jul 13, 2023	J-GAAP
May, 2024	32,140	927	1,487	935	99.5	30	Jul 12, 2024	J-GAAP
May, 2025 Guidance	37,000	1,300	1,700	1,200	131.8	40	Jul 12, 2024	J-GAAP
YoY	+15.1%	+40.2%	+14.3%	+28.3%	+32.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	8,159	249	380	170	18.1	3.1	Jan 11, 2024	J-GAAP
Dec - Feb, 2023	7,414	-28	102	128	13.6	-0.4	Apr 11, 2024	J-GAAP
Mar - May, 2024	9,909	768	829	489	52.1	7.8	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	8,166	27	140	97	10.4	0.3	Oct 15, 2024	J-GAAP
Sep - Nov, 2024	10,849	735	847	703	75.8	6.8	Jan 14, 2025	J-GAAP
YoY	+33.0%	+195.2%	+122.9%	+313.5%	+319.4%