Tsubakimoto Kogyo (8052) Q1 2024 earnings summary

Executive summary

• Q1 FY2024 net sales rose 14.3% YoY to ¥26,103 million; operating profit increased 56.0% to ¥1,277 million.

• Profit attributable to owners of parent was ¥1,011 million, up 51.0% YoY; basic EPS was ¥161.43.

Financial highlights

• Gross profit was ¥4,080 million versus ¥3,361 million YoY; SG&A was ¥2,803 million versus ¥2,542 million.

• Ordinary profit increased 49.2% YoY to ¥1,453 million; profit before income taxes was ¥1,453 million and total income taxes were ¥446 million.

• Comprehensive income was ¥2,043 million versus ¥610 million YoY, including a ¥1,017 million gain on available-for-sale securities.

Outlook and guidance

• FY2024 forecast: net sales ¥100,000 million (-3.7%), operating profit ¥4,250 million (-16.7%), ordinary profit ¥4,600 million (-15.4%), and parent-attributable profit ¥3,050 million (-16.8%).

• FY2024 forecast basic EPS is ¥486.98; first-half forecasts are sales ¥50,000 million, operating profit ¥2,180 million, ordinary profit ¥2,360 million, and parent-attributable profit ¥1,570 million.

• Forecasts were unchanged from the latest announcement; actual results may differ due to factors affecting assumptions and available information.