Takeuchi Mfg (6432) Q1 2025 earnings summary

Executive summary

• Net sales rose 4.0% year-over-year to ¥55,174 million for the quarter ended May 31, 2024, driven by strong demand in North America and price increases, despite lower sales volume overall.

• Operating profit increased 30.2% year-over-year to ¥11,121 million, and profit attributable to owners of parent grew 38.7% to ¥8,464 million, aided by yen depreciation and favorable product/customer mix.

• Orders received surged 29.2% year-over-year to ¥61,519 million, with order backlog up ¥6,345 million from the previous fiscal year-end, reflecting delayed orders from major US rental companies.

Financial highlights

• Gross profit margin improved as gross profit reached ¥15,730 million, up from ¥12,968 million a year earlier.

• Comprehensive income nearly doubled year-over-year to ¥12,783 million, up 90.2%.

• Earnings per share increased to ¥177.56 from ¥128.04 year-over-year.

• Total assets stood at ¥198,377 million, up ¥224 million from the previous fiscal year-end.

• Equity ratio improved to 77.1% from 74.5% at the previous fiscal year-end.

Outlook and guidance

• Full-year forecast maintained: net sales ¥224,000 million (+5.3% YoY), operating profit ¥38,500 million (+8.6%), profit attributable to owners of parent ¥27,500 million (+5.2%), EPS ¥576.91.

• Assumed exchange rates: ¥140/USD, ¥180/GBP, ¥153/EUR, ¥19.50/CNY.