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TSI HOLDINGS CO., LTD., First Half Ordinary Profit Turns to Loss

Fri Oct 11, 2024 3:00 pm JST Earnings

3608 TSI HOLDINGS CO., LTD. 【J-GAAP】

Earnings Report

TSI HOLDINGS CO., LTD. <3608> [TSE-P] announced its financial results after the market closed on October 11th (15:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending February 2025 (March to August) turned into a loss of 167 million yen (compared to a profit of 1.6 billion yen in the same period last year), further increasing the deficit beyond the forecast of a loss of 75 million yen

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 September to February period (second half) is expected to grow by 24.0% from the same period last year, reaching 2.66 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary loss expanded to a loss of 1.27 billion yen (compared to a loss of 817 million yen in the same period last year). However, the operating profit/loss margin improved from -3.8% in the same period last year to -3.4%.

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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
Mar - Aug, 2022 72,087 588 1,892 2,249 25.4 49.0 Oct 12, 2022 J-GAAP
Mar - Aug, 2023 73,278 532 1,608 1,472 17.7 42.8 Oct 13, 2023 J-GAAP
Mar - Aug, 2024 75,230 -221 -167 -791 -10.7 ー Oct 11, 2024 J-GAAP
YoY +2.7% － － － －

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2024 Guidance 75,200 -170 -75 -900 -12.5 0 Sep 25, 2024 J-GAAP
Mar - Aug, 2024 Results 75,230 -221 -167 -791 -10.7 0 Oct 11, 2024 J-GAAP
Revision Rate +0.0% -30.0% -122.7% +12.1% +14.4%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2023 82,105 1,228 2,150 3,377 41.8 15 Apr 12, 2024 J-GAAP
Sep - Feb, 2024 Guidance 84,770 2,221 2,667 4,791 68.7 19 Oct 11, 2024 J-GAAP
YoY +3.2% +80.9% +24.0% +41.9% +64.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 154,456 2,329 3,859 3,063 35.2 10 Apr 12, 2023 J-GAAP
Feb, 2024 155,383 1,760 3,758 4,849 60.0 15 Apr 12, 2024 J-GAAP
Feb, 2025 Guidance 160,000 2,000 2,500 4,000 57.3 19 Apr 12, 2024 J-GAAP
YoY +3.0% +13.6% -33.5% -17.5% -4.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 33,906 -1,304 -817 -516 -6.2 -3.8 Oct 13, 2023 J-GAAP
Sep - Nov, 2023 41,579 1,691 2,037 1,818 22.1 4.1 Jan 12, 2024 J-GAAP
Dec - Feb, 2023 40,526 -463 113 1,559 19.3 -1.1 Apr 12, 2024 J-GAAP
Mar - May, 2024 39,295 1,018 1,108 546 7.3 2.6 Jul 12, 2024 J-GAAP
Jun - Aug, 2024 35,935 -1,239 -1,275 -1,337 -18.1 -3.4 Oct 11, 2024 J-GAAP
YoY +6.0% +5.0% -56.1% -159.1% -190.7%

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