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TOHO CO., LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 5%

Tue Oct 15, 2024 3:00 pm JST Earnings

9602 TOHO CO., LTD. 【J-GAAP】

Earnings Report

TOHO CO., LTD. <9602> [TSE-P] announced its financial results after the market closed on October 15th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) increased by 21.0% from the same period last year, reaching 39.7 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 5.3%, from the previous forecast of 57 billion yen to 60 billion yen (compared to 63 billion yen in the previous period), and the declining rate is expected to decrease from 9.6% to 4.8%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to drop by 32.9% from the same period last year to 20.2 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit grew by 16.7% from the same period last year, reaching 16.4 billion yen. The operating profit margin rose from 19.0% in the same period last year to 21.0%.

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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
Mar - Aug, 2022 120,353 25,984 30,213 21,558 24.5 63.2 Oct 12, 2022 J-GAAP
Mar - Aug, 2023 139,642 30,752 32,881 21,751 24.9 52.2 Oct 11, 2023 J-GAAP
Mar - Aug, 2024 163,681 40,915 39,781 26,485 31.0 66.3 Oct 15, 2024 J-GAAP
YoY +17.2% +33.0% +21.0% +21.8% +24.5%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2024 Guidance ー ー ー ー － 7 Apr 15, 2024 J-GAAP
Mar - Aug, 2024 Results 163,681 40,915 39,781 26,485 31.0 7 Oct 15, 2024 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2025 Prev 280,000 55,000 57,000 39,000 46.0 14 Apr 15, 2024 J-GAAP
Feb, 2025 New 297,000 62,000 60,000 40,000 47.2 14 Oct 15, 2024 J-GAAP
Revision Rate +6.1% +12.7% +5.3% +2.6% +2.6%

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 143,705 28,499 30,143 23,532 27.0 13 Apr 15, 2024 J-GAAP
Sep - Feb, 2024 Guidance 133,319 21,085 20,219 13,515 15.9 7 Oct 15, 2024 J-GAAP
YoY -7.2% -26.0% -32.9% -42.6% -40.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 244,295 44,880 47,815 33,430 38.1 12 Apr 13, 2023 J-GAAP
Feb, 2024 283,347 59,251 63,024 45,283 51.9 17 Apr 15, 2024 J-GAAP
Feb, 2025 Guidance 297,000 62,000 60,000 40,000 47.2 14 Oct 15, 2024 J-GAAP
YoY +4.8% +4.6% -4.8% -11.7% -9.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 65,489 12,428 14,079 9,460 10.8 19.0 Oct 11, 2023 J-GAAP
Sep - Nov, 2023 63,458 10,858 11,301 6,651 7.6 17.1 Jan 15, 2024 J-GAAP
Dec - Feb, 2023 80,247 17,641 18,842 16,881 19.4 22.0 Apr 15, 2024 J-GAAP
Mar - May, 2024 85,976 24,576 23,351 16,149 18.8 28.6 Jul 16, 2024 J-GAAP
Jun - Aug, 2024 77,705 16,339 16,430 10,336 12.1 21.0 Oct 15, 2024 J-GAAP
YoY +18.7% +31.5% +16.7% +9.3% +11.7%

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