TSUBAKIMOTO KOGYO CO.,LTD., July-September (2Q) Ordinary Profit Increases by 34%

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Thu Oct 31, 2024 4:00 pm JST Earnings

8052 TSUBAKIMOTO KOGYO CO.,LTD. 【J-GAAP】

Earnings Report

TSUBAKIMOTO KOGYO CO.,LTD. <8052> [TSE-P] announced its financial results after the market closed on October 31st (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 2.79 billion yen, a 1.6% decrease compared to the same period last year, resulting in a decrease in profits compared to the previous forecast of a 2.8% increase.

The progress rate against the 5.9 billion yen full-year plan was 47.4%, almost the same as the five-year average of 49.3%.

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 grow by 13.5% from the same period last year, reaching 3.1 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 34.2% from the same period last year, reaching 1.86 billion yen. The operating profit margin improved from 4.6% in the same period last year to 5.7%.

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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	51,737	2,267	2,452	1,649	87.8	45.1	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	55,893	2,636	2,841	1,927	102.6	50.9	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	56,600	2,566	2,795	1,888	100.5	47.4	Oct 31, 2024	J-GAAP
YoY	+1.3%	-2.7%	-1.6%	-2.0%	-2.0%

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	57,000	2,700	2,920	1,940	103.3	15	May 8, 2024	J-GAAP
Apr - Sep, 2024 Results	56,600	2,566	2,795	1,888	100.5	15	Oct 31, 2024	J-GAAP
Revision Rate	-0.7%	-5.0%	-4.3%	-2.7%	-2.7%

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	57,610	2,597	2,736	2,073	110.3	46.67	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	59,400	2,934	3,105	2,012	109.6	45	Oct 31, 2024	J-GAAP
YoY	+3.1%	+13.0%	+13.5%	-2.9%	-0.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	107,963	5,102	5,434	3,667	195.2	50	May 9, 2023	J-GAAP
Mar, 2024	113,503	5,233	5,577	4,000	212.9	60	May 8, 2024	J-GAAP
Mar, 2025 Guidance	116,000	5,500	5,900	3,900	212.4	60	May 8, 2024	J-GAAP
YoY	+2.2%	+5.1%	+5.8%	-2.5%	-0.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	29,790	1,359	1,388	916	48.8	4.6	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	27,246	1,253	1,382	963	51.3	4.6	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	30,364	1,344	1,354	1,110	59.1	4.4	May 8, 2024	J-GAAP
Apr - Jun, 2024	24,519	725	932	568	30.3	3.0	Jul 26, 2024	J-GAAP
Jul - Sep, 2024	32,081	1,841	1,863	1,320	70.3	5.7	Oct 31, 2024	J-GAAP
YoY	+7.7%	+35.5%	+34.2%	+44.1%	+44.1%