Tsubakimoto Kogyo (8052) Q2 2024 earnings summary

Executive summary

• H1 FY2024 net sales rose to ¥55,893 million; operating profit, ordinary profit and profit attributable to owners of parent also increased YoY.

• Full-year forecast was revised to net sales of ¥107,000 million and profit attributable to owners of parent of ¥3,750 million.

Financial highlights

• H1 net sales were ¥55,893 million, up 8.0% YoY; gross profit was ¥8,615 million vs ¥7,721 million.

• Operating profit was ¥2,636 million, up 16.3% YoY; ordinary profit was ¥2,841 million, up 15.8%.

• Profit attributable to owners of parent was ¥1,927 million, up 16.9% YoY; basic EPS was ¥307.74 vs ¥263.39.

• Comprehensive income was ¥3,671 million vs ¥1,486 million; valuation gains on available-for-sale securities contributed ¥1,705 million to H1 other comprehensive income.

Outlook and guidance

• FY2024 forecast: net sales ¥107,000 million (-0.9%), operating profit ¥5,000 million (-2.0%), ordinary profit ¥5,350 million (-1.6%), and parent-attributable profit ¥3,750 million (+2.3%).

• Forecast basic EPS is ¥598.66; full-year financial results forecasts were revised on October 27, 2023.