TAY TWO, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 45% Decrease

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Tue Jan 14, 2025 4:00 pm JST Earnings

7610 TAY TWO CO.,LTD 【J-GAAP】

Earnings Report

TAY TWO CO.,LTD <7610> [TSE Std] announced its financial results after the market closed on January 14th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending February 2025 (March to November) significantly dropped 65.0% from the same period last year to 0.42 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 48.0%, from the previous forecast of 1.5 billion yen to 0.78 billion yen (compared to 1.42 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 45.2% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the September to February period (2H) has decreased 61.1%, from the previous forecast of 1.17 billion yen to 0.45 billion yen (compared to 0.38 billion yen in the same period of the previous year), leading to a reduction in the profit growth rate from 3.0 times to 18.0%.

In the most recent three-month period, from September to November (3Q), the consolidated ordinary profit dropped to 0.1 billion yen, a 40.6% decrease compared to the same period last year. The operating profit margin worsened from 2.0% in the same period last year to 1.2%.

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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
Mar - Nov, 2022	21,705	1,255	1,302	834	13.0	81.2	Jan 16, 2023	J-GAAP
Mar - Nov, 2023	25,130	1,108	1,204	709	11.0	84.6	Jan 15, 2024	J-GAAP
Mar - Nov, 2024	25,944	392	422	215	3.4	54.1	Jan 14, 2025	J-GAAP
YoY	+3.2%	-64.6%	-65.0%	-69.7%	-68.9%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2024 Prev	19,911	1,213	1,179	727	11.5	4	Oct 15, 2024	J-GAAP
Sep - Feb, 2024 New	19,311	493	459	ー	－	4	Jan 14, 2025	J-GAAP
Revision Rate	-3.0%	-59.4%	-61.1%	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Prev	37,400	1,500	1,500	900	14.2	4	Apr 15, 2024	J-GAAP
Feb, 2025 New	36,800	780	780	ー	－	4	Jan 14, 2025	J-GAAP
Revision Rate	-1.6%	-48.0%	-48.0%	－	－

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	18,256	391	389	-42	-0.7	4	Apr 15, 2024	J-GAAP
Sep - Feb, 2024 Guidance	19,311	493	459	ー	－	4	Jan 14, 2025	J-GAAP
YoY	+5.8%	+26.1%	+18.0%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	31,255	1,557	1,603	1,002	15.5	3	Apr 14, 2023	J-GAAP
Feb, 2024	35,197	1,333	1,423	568	8.8	4	Apr 15, 2024	J-GAAP
Feb, 2025 Guidance	36,800	780	780	ー	－	4	Jan 14, 2025	J-GAAP
YoY	+4.6%	-41.5%	-45.2%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	8,189	166	170	99	1.5	2.0	Jan 15, 2024	J-GAAP
Dec - Feb, 2023	10,067	225	219	-141	-2.2	2.2	Apr 15, 2024	J-GAAP
Mar - May, 2024	8,301	111	130	63	1.0	1.3	Jul 16, 2024	J-GAAP
Jun - Aug, 2024	9,188	176	191	110	1.8	1.9	Oct 15, 2024	J-GAAP
Sep - Nov, 2024	8,455	105	101	42	0.7	1.2	Jan 14, 2025	J-GAAP
YoY	+3.2%	-36.7%	-40.6%	-57.6%	-56.2%