TOHO GAS Co ( (THOGF) ) has realeased its Q2 earnings. Here is a breakdown of the information TOHO GAS Co presented to its investors.
Toho Gas Co., Ltd. is a Japanese company operating primarily in the energy sector, specializing in the sale and distribution of gas and electricity. The company also engages in other related activities such as LNG processing and natural gas resource development.
For the second quarter ending September 30, 2024, Toho Gas reported a decrease in net sales, operating income, and net income compared to the same period last year. Despite these declines, the company maintained its dividend forecast, signaling confidence in its long-term strategy.
The company’s net sales decreased by 2.5% to 293.4 billion yen, while operating income dropped significantly by 33.7% to 19.1 billion yen. Ordinary income and net income attributable to owners of the parent also saw declines of 28.4% and 26.9% respectively. The decrease in earnings was partially offset by gains from foreign exchange and the sale of investment securities.
Looking ahead, Toho Gas has adjusted its full-year forecast, anticipating a slight increase in net sales but a decrease in operating and ordinary income due to ongoing market challenges. The company remains committed to its strategic initiatives and is cautiously optimistic about future performance.