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Earnings presentation7235TOKYO RADIATOR MFG.CO.,LTD.Automobiles & Transportation Equipment

Supplementary Materials for the Second-Quarter Financial Results for the Fiscal Year Ending March 2027

For the cumulative second quarter of the fiscal year ending March 2027, revenue and profit increased. Based on first-half results and the current business environment, the full-year earnings forecast was revised upward, and the forecast annual dividend was also raised to ¥87.

Worth reading
68In focus
Scored from 5 of 6 sections
Direction
Improvement
Direction inferred from the company’s description.
Scale
450
¥ million (increase from the previous forecast for full-year operating profit)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationCumulative second quarter, fiscal year ending March 202710 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥19,131 million+10.0%
Operating profit¥1,622 million+29.0%
Ordinary income¥1,637 million+20.0%
Net income¥1,188 million+13.0%
Operating profit margin8.5 %
Results for the three months of the current quarter
Consolidated revenue
¥9,893 million
Consolidated operating profit
¥919 million
By segment
Japan
Net Sales
¥8,448 million
Operating profit
¥725 million
China
Net Sales
¥1,469 million
Operating profit
¥154 million
Asia
Net Sales
¥967 million
Operating profit
¥64 million
Consolidated adjustments
Net Sales
¥-991 million
Operating profit
¥-25 million
Full-year earnings forecast
Net Sales
¥38,500 million
Operating profit
¥2,900 million
Ordinary income
¥2,910 million
Net income
¥2,050 million
Operating profit margin
7.5 %
Dividend per share
87 yen
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Change in net sales¥677 million
  • Procurement costs, cost reductions and other factors¥-213 million
  • Changes in fixed costs and other expenses¥-31 million
  • Domestic Subsidiaries¥2 million
  • Chinese subsidiaries¥-80 million
  • Asian subsidiaries¥37 million
  • Consolidated adjustments¥-23 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • CurrencyCNY
    Current forecast23.2
    Previous forecast20.7
  • CurrencyIDR(100)
    Current forecast0.91
    Previous forecast0.89
  • CurrencyTHB
    Current forecast4.9
    Previous forecast4.5
New initiatives
  • Investment in growth areas, including electrification and autonomous driving
  • Share buybacks during the fiscal years ending March 2027 to March 2028
  • Enhancement of TRS brand value through motorsports sponsorship
Key KPIsA metric the company considers important as a management benchmark.
  • Free cash flow¥2,403 million
    Year on year against the same period last year+754.0%
  • Equity ratio73.9 %
    Year on year against the same period last year+1.9%
  • Actual ROE8.5 %
Segment results
Japan
Net Sales
¥16,162 million
Revenue_yoy_pct12.4
Operating profit
¥1,228 million
Operating profit_yoy_pct54.9
China
Net Sales
¥2,865 million
Revenue_yoy_pct-6.6
Operating profit
¥236 million
Operating profit_yoy_pct-25.2
Asia
Net Sales
¥1,907 million
Revenue_yoy_pct16
Operating profit
¥163 million
Operating profit_yoy_pct-10.4
Consolidated adjustments
Net Sales
¥-1,803 million
Operating profit
¥-6 million
Medium-term management plan targets
ROE
Target9% or more
Actual resultsApproximately 8.5% (fiscal year ended March 2026)
Payout ratio
TargetApproximately 40%
Acquisition of treasury shares
PeriodFiscal year ending March 2027 to fiscal year ending March 2028
Total considerationApproximately ¥1.5 billion–¥2.0 billion
Financial targets
ROE
Target9% or more
Actual resultsApproximately 8.5%
Equity ratio
Actual results73.9 %
Annual Dividend
Annual
87 yen
Interim
42 yen
End of period
45 yen
Payout ratio
40.5 %
PolicyApproximately 40%
Acquisition of treasury shares
Acquisition costApproximately ¥1.5 billion–¥2.0 billion
PeriodFiscal year ending March 2027 to fiscal year ending March 2028
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredCumulative second quarter, fiscal year ending March 2027
Net Sales¥19,131 million (YoY +10.0%)
Operating profit¥1,622 million (YoY +29.0%)
Ordinary income¥1,637 million (YoY +20.0%)
Net income¥1,188 million (YoY +13.0%)
Operating profit margin8.5 %
Results for the three months of the current quarterConsolidated revenue ¥9,893 million / Consolidated operating profit ¥919 million / By segment Japan Net Sales ¥8,448 million / Operating profit ¥725 million / China Net Sales ¥1,469 million / Operating profit ¥154 million / Asia Net Sales ¥967 million / Operating profit ¥64 million / Consolidated adjustments Net Sales ¥-991 million / Operating profit ¥-25 million
Full-year earnings forecastNet Sales ¥38,500 million / Operating profit ¥2,900 million / Ordinary income ¥2,910 million / Net income ¥2,050 million / Operating profit margin 7.5 % / Dividend per share 87 yen
Segment resultsJapan Net Sales ¥16,162 million / Revenue_yoy_pct 12.4 / Operating profit ¥1,228 million / Operating profit_yoy_pct 54.9 / China Net Sales ¥2,865 million / Revenue_yoy_pct -6.6 / Operating profit ¥236 million / Operating profit_yoy_pct -25.2 / Asia Net Sales ¥1,907 million / Revenue_yoy_pct 16 / Operating profit ¥163 million / Operating profit_yoy_pct -10.4 / Consolidated adjustments Net Sales ¥-1,803 million / Operating profit ¥-6 million
Breakdown of Factors Affecting the ChangeFactors Change in net sales / Amount ¥677 million, Factors Procurement costs, cost reductions and other factors / Amount ¥-213 million, Factors Changes in fixed costs and other expenses / Amount ¥-31 million, Factors Domestic Subsidiaries / Amount ¥2 million, Factors Chinese subsidiaries / Amount ¥-80 million, Factors Asian subsidiaries / Amount ¥37 million, Factors Consolidated adjustments / Amount ¥-23 million
Key KPIsIndicator name Free cash flow / Value ¥2,403 million / Year on year against the same period last year ¥754 million, Indicator name Equity ratio / Value 73.9 % / Year on year against the same period last year 1.9 %, Indicator name Actual ROE / Value 8.5 %
Assumptions Underlying the Business OutlookCurrency CNY / Current forecast 23.2 / Previous forecast 20.7, Currency IDR(100) / Current forecast 0.91 / Previous forecast 0.89, Currency THB / Current forecast 4.9 / Previous forecast 4.5
Medium-term management plan targetsROE Target 9% or more / Actual results Approximately 8.5% (fiscal year ended March 2026) / Payout ratio Target Approximately 40% / Acquisition of treasury shares Period Fiscal year ending March 2027 to fiscal year ending March 2028 / Total consideration Approximately ¥1.5 billion–¥2.0 billion
Financial targetsROE Target 9% or more / Actual results Approximately 8.5% / Equity ratio Actual results 73.9 %
Annual DividendAnnual 87 yen / Interim 42 yen / End of period 45 yen
Payout ratio40.5 %
Acquisition of treasury sharesAcquisition cost Approximately ¥1.5 billion–¥2.0 billion / Number of Shares Not disclosed / Period Fiscal year ending March 2027 to fiscal year ending March 2028
New initiativesInvestment in growth areas, including electrification and autonomous driving, Share buybacks during the fiscal years ending March 2027 to March 2028, Enhancement of TRS brand value through motorsports sponsorship
Items this document does not state (12)
Gross Profit MarginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

The stated reasons include revenue growth in Japan and Asia, increased profit in Japan, and consideration of first-half results and the current business environment. Rising materials costs and uncertainty over the outlook due to the situation in the Middle East were also cited.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Supplementary Materials for the Second-Quarter Financial Results for the Fiscal Year Ending March 2027 | TOKYO RADIATOR MFG.CO.,LTD. (7235) timely disclosure | Komori