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TOENEC CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 13% Increase, Highest in Four Terms

Tue Oct 29, 2024 3:40 pm JST Earnings

1946 TOENEC CORPORATION 【J-GAAP】

Earnings Report

TOENEC CORPORATION <1946> [TSE-P] announced its financial results after the market closed on October 29th (15:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 9.3% from the same period last year to 5.89 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 19.2%, from the previous forecast of 12 billion yen to 14.3 billion yen (compared to 12.6 billion yen in the previous period), reaches new record high for the first time in four terms, turning to a 12.8% increase in the consolidated ordinary profit outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to expand by 36.1% from the same period last year, reaching 8.4 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 3.25 billion yen, a 10.9% decrease compared to the same period last year. The operating profit margin worsened from 6.3% in the same period last year to 5.7%.

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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
Apr - Sep, 2022 107,608 4,768 4,120 -7,133 -76.3 45.9 Oct 28, 2022 J-GAAP
Apr - Sep, 2023 120,581 6,908 6,501 4,072 43.6 51.3 Oct 27, 2023 J-GAAP
Apr - Sep, 2024 126,846 6,467 5,894 2,865 30.7 41.2 Oct 29, 2024 J-GAAP
YoY +5.2% -6.4% -9.3% -29.6% -29.5%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance 125,000 6,200 6,000 4,200 45.1 20 Apr 26, 2024 J-GAAP
Apr - Sep, 2024 Results 126,846 6,467 5,894 2,865 30.7 20 Oct 29, 2024 J-GAAP
Revision Rate +1.5% +4.3% -1.8% -31.8% -31.9%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 263,000 13,000 12,000 8,400 90.5 40 May 30, 2024 J-GAAP
Mar, 2025 New 275,000 15,000 14,300 8,700 93.7 40 Oct 29, 2024 J-GAAP
Revision Rate +4.6% +15.4% +19.2% +3.6% +3.6%

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 132,282 9,002 6,178 5,273 56.4 28 Apr 26, 2024 J-GAAP
Oct - Mar, 2024 Guidance 148,154 8,533 8,406 5,835 62.9 20 Oct 29, 2024 J-GAAP
YoY +12.0% -5.2% +36.1% +10.7% +11.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 232,053 10,287 8,983 -5,548 -59.4 19 Apr 28, 2023 J-GAAP
Mar, 2024 252,863 15,910 12,679 9,345 100.0 40 Apr 26, 2024 J-GAAP
Mar, 2025 Guidance 275,000 15,000 14,300 8,700 93.7 40 Oct 29, 2024 J-GAAP
YoY +8.8% -5.7% +12.8% -6.9% -6.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 62,555 3,971 3,652 2,353 25.2 6.3 Oct 27, 2023 J-GAAP
Oct - Dec, 2023 61,890 3,058 2,493 1,285 13.8 4.9 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 70,392 5,944 3,685 3,988 42.7 8.4 Apr 26, 2024 J-GAAP
Apr - Jun, 2024 59,980 2,679 2,641 1,917 20.5 4.5 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 66,866 3,788 3,253 948 10.2 5.7 Oct 29, 2024 J-GAAP
YoY +6.9% -4.6% -10.9% -59.7% -59.6%

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