DAIDO METAL CO., LTD., July-September (2Q) Ordinary Profit Decreases by 7%

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Thu Nov 7, 2024 1:00 pm JST Earnings

7245 DAIDO METAL CO., LTD. 【J-GAAP】

Earnings Report

DAIDO METAL CO., LTD. <7245> [TSE-P] announced its financial results in the afternoon session on November 7th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 18.4% from the same period last year, reaching 2.62 billion yen. However, The progress rate against the 5.7 billion yen full-year plan was 46.0%, almost the same as the five-year average of 45.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 14.8% from the same period last year to 3.08 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.26 billion yen, a 7.0% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 3.9% in the same period last year to 3.7%.

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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	56,944	664	941	-2,475	-52.8	32.3	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	63,383	2,210	2,212	615	13.1	38.0	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	68,432	2,708	2,620	528	11.2	46.0	Nov 7, 2024	J-GAAP
YoY	+8.0%	+22.5%	+18.4%	-14.1%	-14.2%

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	65,000	2,400	2,300	1,000	21.2	7	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	68,432	2,708	2,620	528	11.2	7	Nov 7, 2024	J-GAAP
Revision Rate	+5.3%	+12.8%	+13.9%	-47.2%	-47.2%

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	65,355	3,874	3,613	1,954	41.5	13	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	62,568	3,292	3,080	1,972	41.8	8	Nov 7, 2024	J-GAAP
YoY	-4.3%	-15.0%	-14.8%	+0.9%	+0.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	115,480	2,824	2,909	-2,208	-47.1	12	May 11, 2023	J-GAAP
Mar, 2024	128,738	6,084	5,825	2,569	54.5	15	May 14, 2024	J-GAAP
Mar, 2025 Guidance	131,000	6,000	5,700	2,500	53.0	15	May 14, 2024	J-GAAP
YoY	+1.8%	-1.4%	-2.1%	-2.7%	-2.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	33,404	1,316	1,363	446	9.5	3.9	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	33,614	1,836	1,509	316	6.7	5.5	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	31,741	2,038	2,104	1,638	34.8	6.4	May 14, 2024	J-GAAP
Apr - Jun, 2024	33,215	1,389	1,352	467	9.9	4.2	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	35,217	1,319	1,268	61	1.3	3.7	Nov 7, 2024	J-GAAP
YoY	+5.4%	+0.2%	-7.0%	-86.3%	-86.4%