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TAIHEIYO KOUHATSU INCORPORATED, First Half Ordinary Profit Decreases by 42%

Mon Nov 11, 2024 3:30 pm JST Earnings

8835 TAIHEIYO KOUHATSU INCORPORATED 【J-GAAP】

Earnings Report

TAIHEIYO KOUHATSU INCORPORATED <8835> [TSE-S] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 41.9% from the same period last year to 279 million yen, fell short of the previous forecast of 356 million yen.

The progress rate against the 932 million yen full-year plan was 29.9%, also falling below the five-year average of 38.8%.

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 20.3% from the same period last year, reaching 653 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 161 million yen, a 41.5% decrease compared to the same period last year. The operating profit margin worsened from 3.2% in the same period last year to 2.7%.

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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 22,945 760 717 519 66.8 54.1 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 20,256 593 480 311 40.0 46.9 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 18,677 404 279 208 26.8 29.9 Nov 11, 2024 J-GAAP
YoY -7.8% -31.9% -41.9% -33.1% -33.0%

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 19,460 500 356 222 28.5 － May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 18,677 404 279 208 26.8 － Nov 11, 2024 J-GAAP
Revision Rate -4.0% -19.2% -21.6% -6.3% -6.0%

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 20,848 624 543 315 40.5 39 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 18,273 809 653 428 55.0 39 Nov 11, 2024 J-GAAP
YoY -12.4% +29.6% +20.3% +35.9% +35.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 51,016 1,405 1,325 694 89.2 43 May 10, 2023 J-GAAP
Mar, 2024 41,104 1,217 1,023 626 80.6 39 May 10, 2024 J-GAAP
Mar, 2025 Guidance 36,950 1,213 932 636 81.8 39 May 10, 2024 J-GAAP
YoY -10.1% -0.3% -8.9% +1.6% +1.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 12,717 401 275 185 23.8 3.2 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 10,886 306 302 185 23.8 2.8 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 9,962 318 241 130 16.7 3.2 May 10, 2024 J-GAAP
Apr - Jun, 2024 8,456 130 118 76 9.8 1.5 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 10,221 274 161 132 17.0 2.7 Nov 11, 2024 J-GAAP
YoY -19.6% -31.7% -41.5% -28.6% -28.5%

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