TOKYU CONSTRUCTION, The Current Fiscal Year Ordinary Profit Revised Upward by 21%

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Wed Feb 12, 2025 4:00 pm JST Earnings

1720 TOKYU CONSTRUCTION CO.,LTD. 【J-GAAP】

Earnings Report

TOKYU CONSTRUCTION CO.,LTD. <1720> [TSE Prime] announced its financial results after the market closed on February 12th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 3.1% from the same period last year, reaching 3.58 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward 20.7%, from the previous forecast of 5.8 billion yen to 7 billion yen (compared to 9.73 billion yen in the previous period), and the declining rate is expected to decrease from 40.4% to 28.1%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) is expected to increase 18.7%, from the previous forecast of 6.43 billion yen to 7.63 billion yen (compared to 6.89 billion yen in the same period of the previous year), turning to a 10.7% increase in the consolidated ordinary profit outlook.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit surged 6.7 times that of the same period last year, reaching 4.21 billion yen. The operating profit margin significantly improved from 0.8% in the same period last year to 4.1%.

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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	201,019	1,716	1,632	2,307	22.0	32.5	Feb 9, 2023	J-GAAP
Apr - Dec, 2023	205,198	2,614	3,474	2,997	28.5	35.7	Feb 8, 2024	J-GAAP
Apr - Dec, 2024	196,781	3,178	3,582	2,814	26.6	51.2	Feb 12, 2025	J-GAAP
YoY	-4.1%	+21.6%	+3.1%	-6.1%	-6.5%

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	191,374	5,005	6,430	4,459	42.1	19	Nov 7, 2024	J-GAAP
Oct - Mar, 2024 New	175,374	6,905	7,630	5,059	47.8	19	Feb 12, 2025	J-GAAP
Revision Rate	-8.4%	+38.0%	+18.7%	+13.5%	+13.5%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	310,000	5,000	5,800	4,400	41.6	38	May 9, 2024	J-GAAP
Mar, 2025 New	294,000	6,900	7,000	5,000	47.2	38	Feb 12, 2025	J-GAAP
Revision Rate	-5.2%	+38.0%	+20.7%	+13.6%	+13.6%

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	150,999	6,112	6,893	4,756	45.2	19	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	175,374	6,905	7,630	5,059	47.8	19	Feb 12, 2025	J-GAAP
YoY	+16.1%	+13.0%	+10.7%	+6.4%	+5.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	288,867	5,107	5,020	5,245	50.0	36	May 10, 2023	J-GAAP
Mar, 2024	285,681	8,155	9,736	7,266	69.0	37	May 9, 2024	J-GAAP
Mar, 2025 Guidance	294,000	6,900	7,000	5,000	47.2	38	Feb 12, 2025	J-GAAP
YoY	+2.9%	-15.4%	-28.1%	-31.2%	-31.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	70,516	571	631	487	4.6	0.8	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	80,483	5,541	6,262	4,269	40.5	6.9	May 9, 2024	J-GAAP
Apr - Jun, 2024	55,251	-953	-482	-94	-0.9	-1.7	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	63,375	948	-148	35	0.3	1.5	Nov 7, 2024	J-GAAP
Oct - Dec, 2024	78,155	3,183	4,212	2,873	27.2	4.1	Feb 12, 2025	J-GAAP
YoY	+10.8%	+457.4%	+567.5%	+489.9%	+487.3%