TODA, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 14% Decrease

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Wed Feb 12, 2025 11:30 am JST Earnings

1860 TODA CORPORATION 【J-GAAP】

Earnings Report

TODA CORPORATION <1860> [TSE Prime] announced its financial results at noon (11:30) on February 12th. The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 3.1% from the same period last year to 14.5 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 14.5%, from the previous forecast of 25.5 billion yen to 21.8 billion yen (compared to 25.4 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 14.5% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has decreased 21.0%, from the previous forecast of 17.6 billion yen to 13.9 billion yen (compared to 17.2 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 19.0% decrease in profit.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit amounted to 6.71 billion yen, a 0.9% decrease compared to the same period last year. However, the operating profit margin improved from 3.8% in the same period last year to 4.4%.

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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
Apr - Dec, 2022	381,072	4,558	9,024	8,370	27.2	47.4	Feb 13, 2023	J-GAAP
Apr - Dec, 2023	352,752	7,787	15,022	6,618	21.4	58.9	Feb 13, 2024	J-GAAP
Apr - Dec, 2024	380,752	12,048	14,557	14,057	46.6	66.8	Feb 12, 2025	J-GAAP
YoY	+7.9%	+54.7%	-3.1%	+112.4%	+117.9%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	348,739	14,031	17,659	12,825	42.7	14.50	Dec 26, 2024	J-GAAP
Oct - Mar, 2024 New	338,739	14,031	13,959	11,225	37.4	14.50	Feb 12, 2025	J-GAAP
Revision Rate	-2.9%	0.0%	-21.0%	-12.5%	-12.5%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	590,000	20,000	25,500	20,000	66.7	29	Dec 26, 2024	J-GAAP
Mar, 2025 New	580,000	20,000	21,800	18,400	61.3	29	Feb 12, 2025	J-GAAP
Revision Rate	-1.7%	0.0%	-14.5%	-8.0%	-8.0%

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	292,105	14,728	17,240	10,892	35.3	14	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	338,739	14,031	13,959	11,225	37.4	14.50	Feb 12, 2025	J-GAAP
YoY	+16.0%	-4.7%	-19.0%	+3.1%	+5.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	547,155	14,135	19,039	10,995	35.6	27	May 15, 2023	J-GAAP
Mar, 2024	522,434	17,908	25,483	16,101	52.2	28	May 15, 2024	J-GAAP
Mar, 2025 Guidance	580,000	20,000	21,800	18,400	61.3	29	Feb 12, 2025	J-GAAP
YoY	+11.0%	+11.7%	-14.5%	+14.3%	+17.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	122,423	4,607	6,779	1,409	4.6	3.8	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	169,682	10,121	10,461	9,483	30.7	6.0	May 15, 2024	J-GAAP
Apr - Jun, 2024	111,788	-107	2,455	3,717	12.2	-0.1	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	129,473	6,076	5,386	3,458	11.4	4.7	Nov 13, 2024	J-GAAP
Oct - Dec, 2024	139,491	6,079	6,716	6,882	22.8	4.4	Feb 12, 2025	J-GAAP
YoY	+13.9%	+32.0%	-0.9%	+388.4%	+401.3%