Tokyo Cosmos Electric Co., Ltd.
Earnings Presentation Materials
First-half progress of net sales was limited to 45.2%, but full-year plan is expected to be achieved. Production adjustments absorbed the impact of rising costs and the naphtha shock; SG&A reductions and productivity improvements are expected to achieve operating profit plan. Dividend policy remains unchanged, and shareholder returns are planned at the same level as last fiscal year. Order activities under the new mid-term plan have resumed; mass production for variable resistors and the automotive business will commence sequentially from FY2027 and FY2029, respectively.
Key Figures
- Net Sales: 9,610 million yen (First-half actual: 4,348 million yen, Progress rate 45.2%)
- Operating Income: 460 million yen (Full-year plan) / Disclosed first-half actual 120 million yen
- Net Income: 313 million yen (Full-year plan) / First-half actual 45 million yen
AI要約
Key Points of Performance
This document is an earnings presentation centered on first-half performance progress and the likelihood of achieving the full-year plan. Production adjustments and delays in site transfers caused by the naphtha shock temporarily affected sales, but orders are expected to recover in the second half and, together with SG&A reductions and price pass-through reviews, the company expects to achieve the full-year operating profit plan. By segment, allocation to automotive electrical components and variable resistors is important; variable resistors aim to start mass production from FY2027 and automotive from FY2029. The dividend policy remains unchanged, and shareholder returns will continue at the same level as last fiscal year.
Outlook and Impact for Investors
Order activities under the new mid-term plan have resumed. Lead times to transition to mass production vary by business, but a rebound in the second half is anticipated. Price negotiations and cost-reduction measures are being implemented to mitigate the impact of rising costs, and SG&A is expected to remain restrained. Securing new projects and establishing mass-production capabilities will be key to future sales growth and margin improvement. Shareholder returns will continue, maintaining stability in capital policy.
Operating Income Trend
Segment Revenue by Product
Margin Analysis
Guidance vs. Actual Comparison
Tokyo Cosmos Electric Co., Ltd.
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