DAIKEN CO.,LTD., First Half Ordinary Profit Decreases by 58%, June-Augus Ordinary Profit Decreases by 50%

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Fri Oct 4, 2024 3:30 pm JST Earnings

5900 DAIKEN CO.,LTD. 【J-GAAP】

Earnings Report

DAIKEN CO.,LTD. <5900> [TSE-S] announced its financial results after the market closed on October 4th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending February 2025 (March to August) significantly dropped by 57.5% from the same period last year to 79 million yen. The progress rate against the 600 million yen full-year plan was 13.2%, also falling below the five-year average of 30.7%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the September to February period (second half) is expected to expand by 74.2% from the same period last year, reaching 521 million yen.

In the most recent three-month period, from June to August (2Q), the ordinary profit dropped to 76 million yen, a 49.7% decrease compared to the same period last year. The operating profit margin worsened from 4.8% in the same period last year to 2.0%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Mar - Aug, 2022	5,115	153	183	127	22.9	38.7	Oct 7, 2022	J-GAAP
Mar - Aug, 2023	5,216	161	186	126	23.0	38.4	Oct 6, 2023	J-GAAP
Mar - Aug, 2024	5,256	51	79	63	11.6	13.2	Oct 4, 2024	J-GAAP
YoY	+0.8%	-68.3%	-57.5%	-50.0%	-49.8%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar - Aug, 2024 Guidance	5,256	51	79	63	11.5	0	Sep 27, 2024	J-GAAP
Mar - Aug, 2024 Results	5,256	51	79	63	11.6	0	Oct 4, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	+0.5%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	5,665	287	299	202	36.9	15	Apr 5, 2024	J-GAAP
Sep - Feb, 2024 Guidance	6,244	519	521	297	54.2	17	Sep 27, 2024	J-GAAP
YoY	+10.2%	+80.8%	+74.2%	+47.0%	+46.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	10,599	430	473	316	57.1	15	Apr 7, 2023	J-GAAP
Feb, 2024	10,881	448	485	328	60.0	15	Apr 5, 2024	J-GAAP
Feb, 2025 Guidance	11,500	570	600	360	65.7	17	Apr 5, 2024	J-GAAP
YoY	+5.7%	+27.2%	+23.7%	+9.8%	+9.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	2,749	132	151	103	18.8	4.8	Oct 6, 2023	J-GAAP
Sep - Nov, 2023	2,675	87	88	58	10.6	3.3	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	2,990	200	211	144	26.3	6.7	Apr 5, 2024	J-GAAP
Mar - May, 2024	2,601	-2	3	4	0.9	-0.1	Jul 5, 2024	J-GAAP
Jun - Aug, 2024	2,655	53	76	59	10.8	2.0	Oct 4, 2024	J-GAAP
YoY	-3.4%	-59.8%	-49.7%	-42.7%	-42.5%