Toyo Tanso (5310) Q3 2024 earnings summary

Executive summary

• Net sales for the nine months ended September 30, 2024, rose 8.5% year-over-year to ¥39,062 million, driven by strong demand in SiC semiconductor and automotive applications.

• Operating profit increased 38.5% year-over-year to ¥9,266 million, with ordinary profit up 26.4% to ¥9,737 million and profit attributable to owners of parent up 23.7% to ¥7,189 million.

• Growth was supported by price pass-throughs, improved sales mix, and productivity gains, despite global economic uncertainties and rising costs.

Financial highlights

• Gross profit for the nine months was ¥15,905 million, up from ¥12,739 million year-over-year.

• Basic earnings per share increased to ¥342.80 from ¥277.05 year-over-year.

• Total assets as of September 30, 2024, were ¥106,165 million, up from ¥96,612 million at the previous year-end.

• Shareholders’ equity rose to ¥89,797 million, with an equity ratio of 84.6%.

Outlook and guidance

• Full-year net sales forecast is ¥54,000 million (up 9.6% year-over-year), with operating profit projected at ¥10,900 million (up 17.4%).

• Profit attributable to owners of parent is forecast at ¥7,600 million (up 1.2%), with EPS of ¥362.38.

• Dividend forecast for the year is ¥120 per share.