TOKYO GAS, The Current Fiscal Year Ordinary Profit Revised Downward by 3%

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Fri Jan 31, 2025 2:40 pm JST Earnings

9531 TOKYO GAS CO.,LTD. 【J-GAAP】

Earnings Report

TOKYO GAS CO.,LTD. <9531> [TSE Prime] announced its financial results in the afternoon session on January 31st (14:40). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) significantly dropped 59.8% from the same period last year to 68.5 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 2.8%, from the previous forecast of 106 billion yen to 103 billion yen (compared to 228 billion yen in the previous period), leading to an increase in the profit decline rate from 53.5% to 54.9%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has decreased 3.9%, from the previous forecast of 77.2 billion yen to 74.2 billion yen (compared to 80.5 billion yen in the same period of the previous year), leading to an increase in the profit decline rate from 4.0% to 7.7%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit increased 73.9% from the same period last year, reaching 39.8 billion yen. The operating profit margin improved from 5.3% in the same period last year to 5.6%.

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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	2,300,194	235,692	238,298	168,097	386.9	58.3	Jan 31, 2023	J-GAAP
Apr - Dec, 2023	1,902,621	162,868	170,545	115,555	277.0	76.6	Feb 2, 2024	J-GAAP
Apr - Dec, 2024	1,843,721	72,954	68,517	36,591	93.8	66.5	Jan 31, 2025	J-GAAP
YoY	-3.1%	-55.2%	-59.8%	-68.3%	-66.1%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	1,431,506	86,769	77,297	63,830	172.7	35	Oct 30, 2024	J-GAAP
Oct - Mar, 2024 New	1,467,506	78,769	74,297	54,830	148.4	35	Jan 31, 2025	J-GAAP
Revision Rate	+2.5%	-9.2%	-3.9%	-14.1%	-14.1%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	2,653,000	125,000	106,000	81,000	219.2	70	Oct 30, 2024	J-GAAP
Mar, 2025 New	2,689,000	117,000	103,000	72,000	194.8	70	Jan 31, 2025	J-GAAP
Revision Rate	+1.4%	-6.4%	-2.8%	-11.1%	-11.1%

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	1,389,689	87,403	75,121	61,498	149.1	37.50	Apr 25, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,467,506	78,769	74,297	54,830	148.4	35	Jan 31, 2025	J-GAAP
YoY	+5.6%	-9.9%	-1.1%	-10.8%	-0.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	3,289,634	421,477	408,846	280,916	647.0	65	Apr 26, 2023	J-GAAP
Mar, 2024	2,662,420	217,143	222,766	165,481	401.1	70	Apr 25, 2024	J-GAAP
Mar, 2025 Guidance	2,689,000	117,000	103,000	72,000	194.8	70	Jan 31, 2025	J-GAAP
YoY	+1.0%	-46.1%	-53.8%	-56.5%	-51.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	629,890	33,128	22,900	11,572	27.7	5.3	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	759,799	54,275	52,221	49,926	121.0	7.1	Apr 25, 2024	J-GAAP
Apr - Jun, 2024	586,932	24,913	27,062	19,900	50.2	4.2	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	634,562	13,318	1,641	-2,730	-7.0	2.1	Oct 30, 2024	J-GAAP
Oct - Dec, 2024	622,227	34,723	39,814	19,421	49.8	5.6	Jan 31, 2025	J-GAAP
YoY	-1.2%	+4.8%	+73.9%	+67.8%	+79.5%