Dainichi Co., Ltd., First Half Ordinary Profit Decreases by 66%, July-September Ordinary Profit Decreases by 36%

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Thu Oct 31, 2024 4:00 pm JST Earnings

5951 Dainichi Co., Ltd. 【J-GAAP】

Earnings Report

Dainichi Co., Ltd. <5951> [TSE-S] announced its financial results after the market closed on October 31st (16:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 65.8% from the same period last year to 200 million yen. The progress rate against the 1.3 billion yen full-year plan was 15.4%, also falling below the five-year average of 21.6%.

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 55.1% from the same period last year, reaching 1.1 billion yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit dropped to 663 million yen, a 35.8% decrease compared to the same period last year. The operating profit margin decreased from 15.7% in the same period last year to 11.8%.

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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	7,355	356	455	323	20.0	27.5	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	7,685	487	585	397	24.6	45.2	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	6,544	103	200	124	7.7	15.4	Oct 31, 2024	J-GAAP
YoY	-14.8%	-78.9%	-65.8%	-68.8%	-68.6%

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	ー	ー	ー	ー	－	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	6,544	103	200	124	7.7	0	Oct 31, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	11,965	613	709	491	30.3	22	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	13,456	1,047	1,100	776	48.0	22	Oct 31, 2024	J-GAAP
YoY	+12.5%	+70.8%	+55.1%	+58.0%	+58.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	21,212	1,447	1,657	1,210	74.8	22	May 12, 2023	J-GAAP
Mar, 2024	19,650	1,100	1,294	888	54.9	22	May 13, 2024	J-GAAP
Mar, 2025 Guidance	20,000	1,150	1,300	900	55.6	22	May 13, 2024	J-GAAP
YoY	+1.8%	+4.5%	+0.5%	+1.4%	+1.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,384	1,001	1,032	713	44.1	15.7	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	10,660	1,471	1,534	1,102	68.1	13.8	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	1,305	-858	-825	-611	-37.8	-65.7	May 13, 2024	J-GAAP
Apr - Jun, 2024	1,163	-531	-463	-327	-20.2	-45.7	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	5,381	634	663	451	28.0	11.8	Oct 31, 2024	J-GAAP
YoY	-15.7%	-36.7%	-35.8%	-36.7%	-36.5%