Trusco Nakayama (9830) Q3 2024 earnings summary

Executive summary

• Net sales for the third quarter reached 216,383 million yen, up 10.1% year-over-year, with gross profit rising 8.0% and profit attributable to owners of parent surging 32.3% due to extraordinary gains from asset sales.

• All major sales routes posted double-digit growth, with e-business and overseas routes leading at 15.0% and 19.4% YoY increases, respectively.

• The full-year management plan was revised upward, projecting net sales of 290,000 million yen (+8.1% YoY) and profit attributable to owners of parent at 15,032 million yen (+22.5% YoY).

Financial highlights

• Gross profit margin for the third quarter was 20.8%, slightly down from the previous year.

• Operating income for the third quarter was 14,268 million yen (+8.4% YoY), and ordinary income was 14,330 million yen (+8.4% YoY).

• Extraordinary income of 2,667 million yen was recorded from the sale of the former Osaka Head Office.

• Dividend per share is projected at 50.00 yen, up 3.50 yen from the previous year.

Outlook and guidance

• Revised full-year guidance reflects higher sales and profit expectations, with net sales targeted at 290,000 million yen and profit attributable to owners of parent at 15,032 million yen.

• Factory route sales are expected to reach 195,078 million yen (+7.1% YoY), e-business route 66,026 million yen (+11.7% YoY), and overseas route 3,065 million yen (+18.7% YoY).