TOYO ELECTRIC, Apr-Dec (Cumulative 3Q) Ordinary Profit Decreases by 36%, Oct-Dec Ordinary Profit Decreases by 14%

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Fri Feb 7, 2025 4:40 pm JST Earnings

6655 TOYO ELECTRIC CORPORATION 【J-GAAP】

Earnings Report

TOYO ELECTRIC CORPORATION <6655> [NSE Main] announced its financial results after the market closed on February 7th (16:40). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) dropped 36.3% from the same period last year to 219 million yen. The progress rate toward the full-year plan of 397 million yen was 55.2%, also falling below the five-year average of 72.1%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the January to March period (4Q) is expected to expand 97.8% from the same period last year, reaching 178 million yen.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit decreased to 115 million yen, a 13.5% decrease compared to the same period last year. The operating profit margin worsened from 4.8% in the same period last year to 3.3%.

Kabutan News

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
Apr - Dec, 2022	5,339	-185	-109	-371	-87.1	ー	Feb 7, 2023	J-GAAP
Apr - Dec, 2023	6,664	271	344	364	85.4	79.3	Feb 7, 2024	J-GAAP
Apr - Dec, 2024	6,928	115	219	170	40.6	55.2	Feb 7, 2025	J-GAAP
YoY	+4.0%	-57.6%	-36.3%	-53.3%	-52.5%

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	4,619	226	223	213	50.1	15	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	4,928	321	293	204	48.5	10	Nov 7, 2024	J-GAAP
YoY	+6.7%	+42.0%	+31.4%	-4.2%	-3.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	7,566	-87	-4	-280	-65.9	20	May 12, 2023	J-GAAP
Mar, 2024	8,829	379	434	452	106.3	25	May 10, 2024	J-GAAP
Mar, 2025 Guidance	9,386	354	397	309	73.5	20	May 10, 2024	J-GAAP
YoY	+6.3%	-6.6%	-8.5%	-31.6%	-30.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	2,454	118	133	125	29.3	4.8	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	2,165	108	90	88	20.7	5.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	1,918	-29	22	47	11.3	-1.5	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	2,540	62	82	58	14.0	2.4	Nov 7, 2024	J-GAAP
Oct - Dec, 2024	2,470	82	115	65	15.5	3.3	Feb 7, 2025	J-GAAP
YoY	+0.7%	-30.5%	-13.5%	-48.0%	-47.1%