DAIICHI KOUTSU SANGYO Co.,Ltd., First Half Ordinary Profit Decreases by 37%, July-September Ordinary Profit Decreases by 12%

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Thu Nov 7, 2024 2:00 pm JST Earnings

9035 DAIICHI KOUTSU SANGYO Co.,Ltd. 【J-GAAP】

Earnings Report

DAIICHI KOUTSU SANGYO Co.,Ltd. <9035> [FukuokaSE] announced its financial results in the afternoon session on November 7th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 36.9% from the same period last year to 1.06 billion yen. The progress rate against the 4.1 billion yen full-year plan was 25.9%, also falling below the five-year average of 40.9%.

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 expand by 30.7% from the same period last year, reaching 3.03 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 981 million yen, a 12.3% decrease compared to the same period last year. The operating profit margin worsened from 4.0% in the same period last year to 3.0%.

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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
Apr - Sep, 2022	42,587	704	1,419	856	25.1	33.7	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	44,012	1,213	1,683	800	23.5	42.0	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	45,733	668	1,062	534	15.7	25.9	Nov 7, 2024	J-GAAP
YoY	+3.9%	-44.9%	-36.9%	-33.3%	-33.3%

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	44,200	450	750	400	11.7	10	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	45,733	668	1,062	534	15.7	10	Nov 7, 2024	J-GAAP
Revision Rate	+3.5%	+48.4%	+41.6%	+33.5%	+33.8%

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	56,699	1,841	2,325	119	3.5	15	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	58,067	2,832	3,038	1,766	51.8	15	Nov 7, 2024	J-GAAP
YoY	+2.4%	+53.8%	+30.7%	+1,384.0%	+1,379.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	98,972	2,650	4,212	2,150	63.1	25	May 11, 2023	J-GAAP
Mar, 2024	100,711	3,054	4,008	919	27.0	25	May 9, 2024	J-GAAP
Mar, 2025 Guidance	103,800	3,500	4,100	2,300	67.4	25	May 9, 2024	J-GAAP
YoY	+3.1%	+14.6%	+2.3%	+150.3%	+149.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	24,883	995	1,119	504	14.8	4.0	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	26,744	896	1,119	682	20.0	3.4	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	29,955	945	1,206	-563	-16.5	3.2	May 9, 2024	J-GAAP
Apr - Jun, 2024	19,752	-123	81	19	0.6	-0.6	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	25,981	791	981	515	15.1	3.0	Nov 7, 2024	J-GAAP
YoY	+4.4%	-20.5%	-12.3%	+2.2%	+2.2%