Techpoint Inc. ＜6697＞ announced consolidated financial results (US standards) for the 1st quarter (January to March 24) of the fiscal year ending 2024/12 on the 15th. Net sales increased 15.3% from the same period last year to 2,469 million yen, operating profit increased 26.9% to 634 million yen, quarterly net profit before taxes increased 31.3% to 751 million yen, and quarterly net profit attributable to our shareholders increased 29.7% to 663 million yen.

Of sales, in-vehicle cameras increased 42% from the same period last year, and surveillance cameras decreased 28% from the same period last year. The increase in sales of semiconductor products for the in-vehicle camera system market was more affected by the increase in the number of shipments than a decrease in average selling price due to changes in product configuration. The decline in sales to the surveillance camera system market is due to a decrease in the number of shipments.

As for the consolidated earnings forecast for the full year ending 2024/12, the initial plan for sales is 10.932 billion yen, up 10.0% from the previous fiscal year, operating profit down 3.9% to 2,622 billion yen, net income before income taxes down 4.1% to 2,925 billion yen, and net income falling 3.4% to 2,603 billion yen remains unchanged.

Note: The company's financial results and earnings forecasts are disclosed in US dollars. The above yen amount is the conversion amount according to the 2024/3/29 exchange rate, and the fluctuation rate is the comparison of the amount in US dollars.