Topy Industries, LimitedTSE: 7231

Financial Results of the Third Quarter for FY2024

Feb 4, 2025 at 5:12 AM UTC · Issued by Topy Industries, Limited

Financial Results

of the Third Quarter for FY2024

(April 1, 2024 - December 31, 2024)

February 4, 2024

TYO 7231

This material is not a disclosure document under the Financial Instruments and Exchange Act and does not guarantee the accuracy or completeness of its information. The forward-looking statements in this material are based on information available at the time the material was prepared and include uncertainties. Investors are advised not to make investment decisions based solely on this information. In no event will the Company be liable for any loss or damage whatsoever resulting from the use of this material.

Financial Results of the Third Quarter for FY2024

(compared to FY2023)

Net sales

Decrease in sales

	Decrease
Operating profit
in income

(100 millions of yen)

	FY2023 3Q	FY2024 3Q		YoY
	Results	Results	Change	Increase/decrease (%)

Net sales	2,563	2,230	(333)	-13.0%

Operating profit	90	30	(60)	-66.9%

Operating profit margin	3.5%	1.3%	-2.2%

Ordinary profit	97	38	(59)	-60.8％

Profit attributable	43	37	(6)	-13.1％
to owners of parent

Compared to same period of the past FY

Quarterly changes		(100 millioms of yen)
50	1,000

Net sales

	38
21	24

800

Operating profit	90
2,488	2,563
54	2,230
1,970
30
1,610

17	18 16
	6

(5)(9)(6) (9)(6)

(19)

(23)

15600

400

200

	(8)
(25)
FY2020	FY2021	FY2022	FY2023	FY2024
3Q	3Q	3Q	3Q	3Q

Apl.-Jun. Jul.-Sep. Oct.-Dec.	Jan.-Mar. Apl.-Jun. Jul.-Sep. Oct.-Dec. Jan.-Mar.	Apl.-Jun. Jul.-Sep. Oct.-Dec. Jan.-Mar.	Apl.-Jun. Jul.-Sep. Oct.-Dec. Jan.-Mar.	Apl.-Jun. Jul.-Sep. Oct.-Dec.	0

FY2020	FY2021	FY2022	FY2023	FY2024	1

Results by segment

(compared to FY2023)

								(100 millions of yen)

							YoY
	FY2023 3Q Results	FY2024 3Q Results
	Change		Increase/decrease (%)


	Net sales	Operating	Net sales	Operating	Net sales	Operating		Net sales	Operating
	profit	profit	profit		profit


Steel	830	77	769	46	(61)	(31)		-7.4%	-40.6%
Segment

Automotive and
Industrial	1,572	49	1,407	23	(165)	(26)		-10.5%	-53.8%
Machinery
Components
Segment

Others	161	7	54	7	(107)	0		-66.4%	+4.6%

Head office	―	(43)	―	(45)	―	(2)		―	―

Total	2,563	90	2,230	30	(333)	(60)		-13.0%	-66.9％

Factors for change in operating profit

(compared to FY2023)

Factors for increase in profit

Factors for decrease in profit

(100 millions of yen)

		15
			(5)		8	5
			(1)
	5			30


	(74)				(13)

FY2023 3Q	Quantity & Selling price	Raw	Energy &	Foreign	Labor costs Others	Cost	FY2024 3Q
Operating	Variety mix	materials	Sub	exchange		improvement	Operating
profit			materials				profit

Overview of business results by segment

(1) Steel

Compared to same period of the past FY

Net sales	(100 millioms of yen)

Operating profit

Quarterly changes

27 31

	31	(100 millioms of yen)
		400
24	22	20 19
20		18

60	83077
769

661 786 46

535

9	(3)

FY2020	FY2021	FY2022	FY2023	FY2024
3Q	3Q	3Q	3Q	3Q

7				5			9	200
3	3
		2
0
			(3)(3)
			(5)

Apl.-Jun. Jul.-Sep. Oct.-Dec.	Jan.-Mar.	Apl.-Jun. Jul.-Sep. Oct.-Dec. Jan.-Mar. Apl.-Jun.	Jul.-Sep. Oct.-Dec. Jan.-Mar.	Apl.-Jun. Jul.-Sep. Oct.-Dec. Jan.-Mar.	Apl.-Jun. Jul.-Sep. Oct.-Dec.	0

FY2020		FY2021		FY2022	FY2023	FY2024

Operating profit analysis

				Factors for increase in profit

				Factors for decrease in profit

				(100 millions of yen)
77	10		1

(20)		(4)	6
(10)	(4)

(10)	46

FY2023 3Q	Quantity &	Selling	Raw	Energy & Sub	Foreign	Labor costs	Others	Cost	FY2024 3Q
Operating	Variety mix	price	materials	materials	exchange			improvement	Operating
profit									profit

Business status

		(Unit: 1,000 tons, ¥1,000/tons)

		FY2023	FY2024	Change
		3Q	3Q


Sales	steel
	Shaped	545	525	(20)

Volume
Steel bars	136	128	(8)


	Total	681	654	(27)
Selling price	113.5	111.2	(2.3)

Scrap payout	49.9	47.1	(2.8)
	unit price


	Spreads	63.6	64.1	+0.5

*Including internal sales

Overview of business results by segment

(2) Automotive and industrial machinery components

Compared to same period of the past FY

Quarterly changes

(100 millioms of yen)

Net sales	(100 millioms of yen)	24	24	27

			14	13

600

Operating profit		49			10	10	11	9 9
			6	5		6
38	31	1,572
	1,407
		(14)
1,200	1,507		23
			(18)
976

6 10 400

(5)

200

(8)

FY2020	FY2021	FY2022	FY2023	FY2024
3Q	3Q	3Q	3Q	3Q

Apl.-Jun. Jul.-Sep. Oct.-Dec. Jan.-Mar.	Apl.-Jun. Jul.-Sep. Oct.-Dec.	Jan.-Mar. Apl.-Jun. Jul.-Sep. Oct.-Dec. Jan.-Mar.	Apl.-Jun. Jul.-Sep. Oct.-Dec.	Jan.-Mar. Apl.-Jun. Jul.-Sep. Oct.-Dec.
FY2020	FY2021	FY2022	FY2023	FY2024

Operating profit analysis

Factors for increase in profit

Factors for decrease in profit

(100 millions of yen)

(1)

(0)

(9)

(43)

FY2023 3Q

Quantity &

Selling

Raw

Energy & Sub

Foreign

Labor costs

Others

Cost

FY2024 3Q

Operating

Variety mix

price

materials

exchange

improvement

Operating

profit

Business environment

Domestic steel orders received (by application)

Domestic crude steel production volume

(thousand tons)		Manufacturing excluding automoboles


8,000		Automobiles


6,000		Construnction



4,000
2,000
0
1-3月 4-6月 7-9月 10-12月 Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep
2019年 2020	2021 2022 2023 2024

Source:The Japam Iron and Steel Federation

(thousand tons)		Blast furnace


30,000		Electric fuenace

20,000

10,000

Jan-Mar Apr-Jun Jul-Sep	Oct-Dec Jan-Mar	Apr-Jun Jul-Sep	Oct-Dec Jan-Mar Apr-Jun Jul-Sep	Oct-Dec	Jan-Mar Apr-Jun Jul-Sep	Oct-Dec Jan-Mar Apr-Jun Jul-Sep
2020		2021	2022		2023	2024

Source:The Japan Iron and Steel Federation

Domestic production units

(1,000units)		(1,000units)			(1,000units)	(1,000units)		Mini excavators

		Passenger vehicles 400		Light vehicles	Commericial vehicles
2,000			400		60	Hydraulic excavators




1,500
1,000	200			200		40

500							20

0	0			0		0

Apr-Jun Jul-Sep Oct-Dec	Jan-Mar Apr-Jun Jul-Sep	Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec	Apr-Jun Jul-Sep Oct-Dec Jan-Mar	Apr-Jun Jul-Sep	Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec	Apr-Jun Jul-Sep Oct-Dec Jan-Mar	Apr-Jun Jul-Sep	Oct-Dec	Jan-Mar Apr-Jun Jul-Sep	Apr-Jun Jul-Sep Oct-Dec	Jan-Mar Apr-Jun Jul-Sep Oct-Dec	Jan-Mar Apr-Jun Jul-Sep
2022	2023	2024	2022	2023	2024	2022	2023		2024	2022	2023	2024	6
Copyright©2025 Topy Industries, Limited All Rights Reserved.							Source: MARKLINES	Source: Japan Construction Equipment
										Manufacturers Association

Business environment

Ferrous scrap price

(¥1,000/tons)

Jan. Apr. Jul.	Oct. Jan. Apr. Jul.	Oct. Jan. Apr. Jul.	Oct. Jan. Apr. Jul.	Oct. Jan. Apr. Jul. Oct.
2020	2021	2022	2023	2024
Source:Source: Japan Metal Daily, The Japan ferrous raw materials association (H2, before
maker furnace, average of 3 districts)

Aluminum price

(Nikkei average)

(¥1,000/tons）

600
500
400
300
200
100
0
Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct.
2020	2021	2022	2023	2024
Copyright©2025 Topy Industries, Limited All Rights Reserved.	Source:Nikkal Shoko

Electricity

250 ※Unit price for the Company's Toyohashi Plant Calculated with January 2020 unit price set at 100

200

150

100

Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct.
2020	2021	2022	2023	2024

Forecast for FY2024

There are no change in the consolidated financial forecast from the previous forecast.

(100 millions of yen)

		FY2023	FY2024	FY2024
		3Q
		Results	(Forecasts)
		Results


	Net sales	3,340	3,010	2,230

	Operating profit	104	62	30

	Ordinary profit	105	65	38

	Profit attributable to owners of parent	47	51	37

	Dividend per share (yen)	103	103	－

Copyright©2025 Topy Industries, Limited All Rights Reserved.			8

Reference:

net sales composition by segment and business area

Steel

（35％）

Others	Wheels for
passenger vehicles
(2％)
(28％)

	Automotive and
FY2024 3Q Industrial Machinery
Net sales	Components
223 billion
（63％）

Undercarriage parts

for construction

machinery

（14%）

Others	Wheels for commercial vehicles
and construction machinery
（11%）
（10%）