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IR & Research Intelligence

Sponsored research focusing on Japanese small cap.

Equity Bottom-Up

<div><div><div><div><ul><li>TOREX Semiconductor announced 1Q FY24/3 consolidated financial results at 15:30 on 8/10.</li><li>Headline numbers were net sales -25.5% YoY, operating profit -87.2% YoY, and profit attributable to owners of parent -94.3% YoY.</li><li>Ordinary profit posted a slight loss due to recording a loss on foreign exchange. </li></ul></div></div></div></div>

TOREX Semiconductor announced 1Q FY24/3 consolidated financial results at 15:30 on 8/10.Headline numbers were net sales -25.5% YoY, operating profit -87.2% YoY, and profit attributable to owners of parent -94.3% YoY.Ordinary profit posted a slight loss due to recording a loss on foreign exchange. 

1Q Follow-Up - Torex Semiconductor (6616 JP)

<ul><li>Since 1H FY24/3 corresponds with the bottom of the current reset cycle, initial guidance for net sales is -9.3% YoY.</li><li>In addition to ongoing high electricity rates, depreciation expense is set to increase +51.1% YoY, and initial guidance for OP is -62.3% YoY.</li><li>On a cash flow basis, implied EBITDA is forecast to decline -29.1% YoY.</li></ul>

Since 1H FY24/3 corresponds with the bottom of the current reset cycle, initial guidance for net sales is -9.3% YoY.In addition to ongoing high electricity rates, depreciation expense is set to increase +51.1% YoY, and initial guidance for OP is -62.3% YoY.On a cash flow basis, implied EBITDA is forecast to decline -29.1% YoY.

Full Report - Torex Semiconductor (6616 JP)

Japan

Torex Semiconductor Ltd. designs and develops analog power management ICs. The Company offers products including voltage detectors, regulators, and DC/DC converters used in small electronic devices.

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Torex Semiconductor (6616 JP)

1Q Follow-Up - Torex Semiconductor (6616 JP)

Phenitec 1Q OP returned to profit after 4Q loss 1Q consol. results largely in line → guidance unchanged. TOREX Semiconductor announced 1Q FY24/3...

Sessa Investment Research

Full Report - Torex Semiconductor (6616 JP)

Fabless TOREX will invest ¥1.8bn in an overseas foundry’s fab to secure dedicated 8-inch capacity necessary for the development of new high...

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