DaikyoNishikawa Corporation, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 2% Decrease

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Thu Nov 7, 2024 4:00 pm JST Earnings

4246 DaikyoNishikawa Corporation 【J-GAAP】

Earnings Report

DaikyoNishikawa Corporation <4246> [TSE-P] announced its financial results after the market closed on November 7th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 15.5% from the same period last year, reaching 5.33 billion yen.

However, the full-year consolidated ordinary profit has downwardly by 15.7%, from the previous forecast of 10.2 billion yen to 8.6 billion yen (compared to 8.77 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 2.0% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 21.4% from the same period last year to 3.26 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 1.97 billion yen, a 31.1% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 7.3% in the same period last year to 7.0%.

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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	63,011	-1,446	-1,179	-1,565	-22.0	ー	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	77,470	4,285	4,617	2,950	41.5	52.6	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	83,499	5,692	5,333	3,254	45.8	62.0	Nov 7, 2024	J-GAAP
YoY	+7.8%	+32.8%	+15.5%	+10.3%	+10.3%

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	84,000	5,400	5,500	3,400	47.8	17	Aug 8, 2024	J-GAAP
Apr - Sep, 2024 Results	83,499	5,692	5,333	3,254	45.8	17	Nov 7, 2024	J-GAAP
Revision Rate	-0.6%	+5.4%	-3.0%	-4.3%	-4.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	169,000	10,700	10,200	7,000	98.4	34	Aug 8, 2024	J-GAAP
Mar, 2025 New	166,900	9,700	8,600	5,700	80.1	34	Nov 7, 2024	J-GAAP
Revision Rate	-1.2%	-9.3%	-15.7%	-18.6%	-18.6%

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	81,549	4,405	4,158	2,832	39.8	17	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	83,401	4,008	3,267	2,446	34.4	17	Nov 7, 2024	J-GAAP
YoY	+2.3%	-9.0%	-21.4%	-13.6%	-13.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	145,744	3,453	2,864	518	7.3	30	May 11, 2023	J-GAAP
Mar, 2024	159,019	8,690	8,775	5,782	81.3	32	May 14, 2024	J-GAAP
Mar, 2025 Guidance	166,900	9,700	8,600	5,700	80.1	34	Nov 7, 2024	J-GAAP
YoY	+5.0%	+11.6%	-2.0%	-1.4%	-1.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	40,253	2,946	2,868	1,800	25.3	7.3	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	42,898	2,891	2,514	2,324	32.7	6.7	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	38,651	1,514	1,644	508	7.2	3.9	May 14, 2024	J-GAAP
Apr - Jun, 2024	40,568	2,675	3,357	2,331	32.8	6.6	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	42,931	3,017	1,976	923	13.0	7.0	Nov 7, 2024	J-GAAP
YoY	+6.7%	+2.4%	-31.1%	-48.7%	-48.7%