TOA CORPORATION, First Half Net Income Decreases by 81%, July-September Net Income Decreases by 69%

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Fri Nov 1, 2024 3:00 pm JST Earnings

6809 TOA CORPORATION 【J-GAAP】

Earnings Report

TOA CORPORATION <6809> [TSE-P] announced its financial results after the market closed on November 1st (15:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 81.2% from the same period last year to 139 million yen. The progress rate against the 2.4 billion yen full-year plan was 5.8%, also falling below the five-year average of 34.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to expand by 79.7% from the same period last year, reaching 2.26 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income significantly dropped to 251 million yen, a 68.7% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 6.8% in the same period last year to 6.7%.

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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	20,307	45	456	629	19.3	21.7	Nov 1, 2022	J-GAAP
Apr - Sep, 2023	21,891	693	1,191	739	23.0	32.1	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	22,769	704	766	139	4.6	19.6	Nov 1, 2024	J-GAAP
YoY	+4.0%	+1.6%	-35.7%	-81.2%	-79.9%

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	ー	ー	ー	ー	－	20	May 2, 2024	J-GAAP
Apr - Sep, 2024 Results	22,769	704	766	139	4.6	20	Nov 1, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	26,923	2,335	2,519	1,258	39.4	20	May 2, 2024	J-GAAP
Oct - Mar, 2024 Guidance	29,231	2,996	3,134	2,261	75.2	20	Nov 1, 2024	J-GAAP
YoY	+8.6%	+28.3%	+24.4%	+79.7%	+90.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	45,123	1,713	2,104	1,765	54.5	40	May 2, 2023	J-GAAP
Mar, 2024	48,814	3,028	3,710	1,997	62.6	40	May 2, 2024	J-GAAP
Mar, 2025 Guidance	52,000	3,700	3,900	2,400	79.8	40	May 2, 2024	J-GAAP
YoY	+6.5%	+22.2%	+5.1%	+20.2%	+27.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	11,849	807	1,022	802	24.9	6.8	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	12,498	1,297	1,247	819	25.5	10.4	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	14,425	1,038	1,272	439	13.8	7.2	May 2, 2024	J-GAAP
Apr - Jun, 2024	10,979	-91	104	-112	-3.8	-0.8	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	11,790	795	662	251	8.4	6.7	Nov 1, 2024	J-GAAP
YoY	-0.5%	-1.5%	-35.2%	-68.7%	-66.5%