TOA (1885) Q1 2024 earnings summary

Executive summary

• Q1 net sales ¥62,570m (+32.7% YoY), operating profit ¥3,874m (+432.6%) and profit attributable to owners of parent ¥2,838m (+357.2%).

Financial highlights

• Gross profit rose to ¥6,912m from ¥3,508m; SG&A increased to ¥3,037m from ¥2,780m.

• Ordinary profit reached ¥4,222m (+350.3% YoY); profit before income taxes was ¥4,120m, after ¥102m in extraordinary losses.

• Basic EPS was ¥132.23, versus ¥29.04 a year earlier; comprehensive income totaled ¥3,690m, versus ¥602m.

Outlook and guidance

• FY ending March 2024 forecast: net sales ¥253,000m (+18.5%), operating profit ¥9,500m (+43.6%), ordinary profit ¥9,700m (+48.0%), parent-attributable profit ¥6,600m (+36.5%) and EPS ¥312.42.

• FY2024 dividend forecast is ¥100 per share, versus ¥90 for FY2023; no revision to the latest dividend forecast.

• Forecasts rely on currently available information and reasonable assumptions; actual results may differ materially.