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TAKAGI SEIKO CORPORATION, First Half Ordinary Profit Decreases by 49%, July-September Ordinary Profit Decreases by 66%

Mon Nov 11, 2024 3:30 pm JST Earnings

4242 TAKAGI SEIKO CORPORATION 【J-GAAP】

Earnings Report

TAKAGI SEIKO CORPORATION <4242> [TSE-S] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 48.6% from the same period last year to 584 million yen. The progress rate against the 1.33 billion yen full-year plan was 43.9%, almost the same as the five-year average of 41.0%.

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 drop by 41.9% from the same period last year to 746 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 224 million yen, a 66.1% decrease compared to the same period last year. The operating profit margin worsened from 4.9% in the same period last year to 2.0%.

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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 24,387 724 794 -89 -32.5 33.1 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 25,269 1,159 1,137 457 165.1 47.0 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 21,738 558 584 128 46.3 43.9 Nov 11, 2024 J-GAAP
YoY -14.0% -51.9% -48.6% -72.0% -71.9%

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 21,730 550 580 120 43.1 20 Oct 31, 2024 J-GAAP
Apr - Sep, 2024 Results 21,738 558 584 128 46.3 20 Nov 11, 2024 J-GAAP
Revision Rate +0.0% +1.5% +0.7% +6.7% +7.6%

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 25,797 1,241 1,284 732 264.0 18 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 23,122 712 746 292 104.8 20 Nov 11, 2024 J-GAAP
YoY -10.4% -42.6% -41.9% -60.1% -60.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 48,162 2,018 2,396 700 253.7 30 May 15, 2023 J-GAAP
Mar, 2024 51,066 2,400 2,421 1,189 428.7 36 May 13, 2024 J-GAAP
Mar, 2025 Guidance 44,860 1,270 1,330 420 150.7 40 Oct 31, 2024 J-GAAP
YoY -12.2% -47.1% -45.1% -64.7% -64.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 12,863 632 661 370 133.6 4.9 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 13,242 712 730 377 136.1 5.4 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 12,555 529 554 355 128.0 4.2 May 13, 2024 J-GAAP
Apr - Jun, 2024 10,920 347 360 70 25.4 3.2 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 10,818 211 224 58 21.0 2.0 Nov 11, 2024 J-GAAP
YoY -15.9% -66.6% -66.1% -84.3% -84.3%

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