Toppan Holdings Inc (TONPF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

This is Kurobe, the CFO. Thank you for taking the time out of your busy schedules to join our fiscal 2025 half-year results briefing. I will now explain the details of the first half results. Please turn to page 3. In the first half, consolidated net sales increased 4.3% year-on-year to 863.6 billion yen, and non-GAAP operating profit, which excludes mainly the effects of acquisition-related costs, rose 14% to 38.6 billion yen. While consolidated operating profit was generally in line with the plan, the information and communication and living and industry segments fell short of plan, whereas the electronic segment and adjustment items exceeded plan. Non-GAAP operating profit net of one-time costs such as gains on sale of investment securities increased 41.5% to 24.5 billion yen. The key points of the results are shown on the right. On a non-gap basis, information and communication had flat sales and higher profit, living and industry had higher sales and profit, and electronics posted lower sales and profit. However, profit grew compared with Q1. I will explain the performance of each segment later. Now, from this fiscal year, for exchange rate processing, we change to yearly average rate from year-end rate. Accordingly, prior year figures have been retrospectively revised. Unless otherwise stated, the prior year figures in the following pages are modified retrospectively. Next, please turn to page 4. From this briefing, we will explain year-on-year changes in operating profit on a non-GAAP basis. From the previous year's operating profit of 33.9 billion yen, foreign exchange impact was negative 1.6 billion yen, and infrastructure development cost negative 1.4 billion yen. Amid our gross businesses, airhead cross impact was plus 1 billion, and the Japan Essex and ov...