kabutan

TOYO ELECTRIC CORPORATION, First Half Ordinary Profit Decreases by 51%, July-September Ordinary Profit Decreases by 20%

Thu Nov 7, 2024 4:40 pm JST Earnings

6655 TOYO ELECTRIC CORPORATION 【J-GAAP】

Earnings Report

TOYO ELECTRIC CORPORATION <6655> [NSE-M] announced its financial results after the market closed on November 7th (16:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 50.7% from the same period last year to 104 million yen. The progress rate against the 397 million yen full-year plan was 26.2%, also falling below the five-year average of 34.2%.

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 expand by 31.4% from the same period last year, reaching 293 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 82 million yen, a 20.4% decrease compared to the same period last year. The operating profit margin worsened from 4.5% in the same period last year to 2.4%.

Kabutan News

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 3,461 -167 -112 -374 -88.0 ー Nov 7, 2022 J-GAAP
Apr - Sep, 2023 4,210 153 211 239 56.0 48.6 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 4,458 33 104 105 25.3 26.2 Nov 7, 2024 J-GAAP
YoY +5.9% -78.4% -50.7% -56.1% -54.9%

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 4,422 46 91 93 22.1 10 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 4,458 33 104 105 25.3 10 Nov 7, 2024 J-GAAP
Revision Rate +0.8% -28.3% +14.3% +12.9% +14.2%

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 4,619 226 223 213 50.1 15 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 4,928 321 293 204 48.5 10 Nov 7, 2024 J-GAAP
YoY +6.7% +42.0% +31.4% -4.2% -3.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 7,566 -87 -4 -280 -65.9 20 May 12, 2023 J-GAAP
Mar, 2024 8,829 379 434 452 106.3 25 May 10, 2024 J-GAAP
Mar, 2025 Guidance 9,386 354 397 309 73.5 20 May 10, 2024 J-GAAP
YoY +6.3% -6.6% -8.5% -31.6% -30.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 2,212 99 103 168 39.4 4.5 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 2,454 118 133 125 29.3 4.8 Feb 7, 2024 J-GAAP
Jan - Mar, 2024 2,165 108 90 88 20.7 5.0 May 10, 2024 J-GAAP
Apr - Jun, 2024 1,926 -22 22 47 11.3 -1.1 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 2,532 55 82 58 14.0 2.2 Nov 7, 2024 J-GAAP
YoY +14.5% -44.4% -20.4% -65.5% -64.6%

Related Articles