DAIREI CO.,LTD, First Half Ordinary Profit Decreases by 33%, July-September Ordinary Profit Decreases by 33%

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Thu Oct 31, 2024 2:00 pm JST Earnings

2883 DAIREI CO.,LTD 【J-GAAP】

Earnings Report

DAIREI CO.,LTD <2883> [TSE-S] announced its financial results in the afternoon session on October 31st (14:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 32.7% from the same period last year to 397 million yen. The progress rate against the 1.25 billion yen full-year plan was 31.8%, also falling below the five-year average of 47.7%.

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 October to March period (second half) is expected to expand by 66.0% from the same period last year, reaching 853 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit dropped to 172 million yen, a 33.3% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 3.5% in the same period last year to 3.3%.

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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
Apr - Sep, 2022	13,107	758	799	539	91.3	52.0	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	13,964	560	590	398	67.5	53.4	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	12,999	420	397	252	42.7	31.8	Oct 31, 2024	J-GAAP
YoY	-6.9%	-25.0%	-32.7%	-36.7%	-36.7%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	12,999	420	397	252	42.6	－	Oct 23, 2024	J-GAAP
Apr - Sep, 2024 Results	12,999	420	397	252	42.7	－	Oct 31, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	+0.1%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	13,452	506	514	368	62.3	60	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	17,001	830	853	593	100.4	60	Oct 23, 2024	J-GAAP
YoY	+26.4%	+64.0%	+66.0%	+61.1%	+61.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	27,239	1,525	1,537	1,023	173.3	60	May 10, 2023	J-GAAP
Mar, 2024	27,416	1,066	1,104	766	129.8	60	May 10, 2024	J-GAAP
Mar, 2025 Guidance	30,000	1,250	1,250	845	143.0	60	May 10, 2024	J-GAAP
YoY	+9.4%	+17.3%	+13.2%	+10.3%	+10.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,000	244	258	167	28.3	3.5	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	7,509	342	316	218	36.9	4.6	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	5,943	164	198	150	25.4	2.8	May 10, 2024	J-GAAP
Apr - Jun, 2024	6,405	204	225	139	23.7	3.2	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	6,594	216	172	113	19.1	3.3	Oct 31, 2024	J-GAAP
YoY	-5.8%	-11.5%	-33.3%	-32.3%	-32.4%