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TOKYO ELECTRON DEVICE LIMITED, First Half Ordinary Profit Decreases by 2%

Fri Nov 1, 2024 3:30 pm JST Earnings

2760 TOKYO ELECTRON DEVICE LIMITED 【J-GAAP】

Earnings Report

TOKYO ELECTRON DEVICE LIMITED <2760> [TSE-P] announced its financial results after the market closed on November 1st (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 6.14 billion yen, a 1.7% decrease compared to the same period last year. The progress rate against the 12.7 billion yen full-year plan was 48.4%, which was higher than the five-year average of 37.1%.

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 October to March period (second half) is expected to decrease by 14.6% from the same period last year to 6.55 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 2.53 billion yen, a 18.6% decrease compared to the same period last year. The operating profit margin worsened from 5.8% in the same period last year to 3.7%.

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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 111,769 6,573 5,208 3,584 120.6 41.7 Oct 28, 2022 J-GAAP
Apr - Sep, 2023 119,698 7,153 6,253 4,551 152.2 44.9 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 111,712 6,292 6,147 4,305 143.2 48.4 Nov 1, 2024 J-GAAP
YoY -6.7% -12.0% -1.7% -5.4% -5.9%

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 110,000 ー 5,500 3,800 126.5 52 Apr 30, 2024 J-GAAP
Apr - Sep, 2024 Results 111,712 6,292 6,147 4,305 143.2 52 Nov 1, 2024 J-GAAP
Revision Rate +1.6% － +11.8% +13.3% +13.2%

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 123,190 8,275 7,669 5,435 181.5 74 Apr 30, 2024 J-GAAP
Oct - Mar, 2024 Guidance 118,288 ー 6,553 4,395 145.8 65 Nov 1, 2024 J-GAAP
YoY -4.0% － -14.6% -19.1% -19.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 240,350 14,227 12,478 8,778 294.8 118.33 Apr 27, 2023 J-GAAP
Mar, 2024 242,888 15,428 13,922 9,986 333.5 135 Apr 30, 2024 J-GAAP
Mar, 2025 Guidance 230,000 ー 12,700 8,700 288.6 117 Apr 30, 2024 J-GAAP
YoY -5.3% － -8.8% -12.9% -13.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 60,686 3,525 3,110 2,365 79.1 5.8 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 60,050 3,707 3,464 2,519 84.2 6.2 Feb 2, 2024 J-GAAP
Jan - Mar, 2024 63,140 4,568 4,205 2,916 97.4 7.2 Apr 30, 2024 J-GAAP
Apr - Jun, 2024 56,607 4,252 3,614 2,494 83.1 7.5 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 55,105 2,040 2,533 1,811 60.2 3.7 Nov 1, 2024 J-GAAP
YoY -9.2% -42.1% -18.6% -23.4% -23.8%

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