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TOYO ELECTRIC, Apr-Dec (Cumulative 3Q) Ordinary Profit Decreases by 36%, Oct-Dec Ordinary Profit Decreases by 14%

Fri Feb 7, 2025 4:40 pm JST Earnings

6655 TOYO ELECTRIC CORPORATION 【J-GAAP】

Earnings Report

TOYO ELECTRIC CORPORATION <6655> [NSE Main] announced its financial results after the market closed on February 7th (16:40). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) dropped 36.3% from the same period last year to 219 million yen. The progress rate toward the full-year plan of 397 million yen was 55.2%, also falling below the five-year average of 72.1%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the January to March period (4Q) is expected to expand 97.8% from the same period last year, reaching 178 million yen.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit decreased to 115 million yen, a 13.5% decrease compared to the same period last year. The operating profit margin worsened from 4.8% in the same period last year to 3.3%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Dec, 2022 5,339 -185 -109 -371 -87.1 Feb 7, 2023 J-GAAP
Apr - Dec, 2023 6,664 271 344 364 85.4 79.3 Feb 7, 2024 J-GAAP
Apr - Dec, 2024 6,928 115 219 170 40.6 55.2 Feb 7, 2025 J-GAAP
YoY +4.0% -57.6% -36.3% -53.3% -52.5%

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
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
Oct - Dec, 2024 2,470 82 115 65 15.5 3.3 Feb 7, 2025 J-GAAP
YoY +0.7% -30.5% -13.5% -48.0% -47.1%

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