Dai Nippon Toryo Company, Limited, The Current Fiscal Year Ordinary Profit Revised Upward by 11%, Dividend Revised Upward by 9 yen

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Fri Nov 8, 2024 2:00 pm JST Earnings

4611 Dai Nippon Toryo Company, Limited 【J-GAAP】

Earnings Report

Dai Nippon Toryo Company, Limited <4611> [TSE-P] announced its financial results in the afternoon session on November 8th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 6.7% from the same period last year to 2.76 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 11.1%, from the previous forecast of 4.5 billion yen to 5 billion yen (compared to 5.33 billion yen in the previous period), and the declining rate is expected to decrease from 15.7% to 6.3%.

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 5.9% from the same period last year to 2.23 billion yen.

In light of the strong performance, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 40 yen to 49 yen (compared to 35 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.38 billion yen, a 13.6% decrease compared to the same period last year. The operating profit margin worsened from 8.2% in the same period last year to 7.7%.

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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	34,855	1,773	2,031	1,323	46.7	47.1	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	36,371	2,715	2,961	1,956	68.8	55.5	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	36,135	2,524	2,764	2,716	95.4	55.3	Nov 8, 2024	J-GAAP
YoY	-0.6%	-7.0%	-6.7%	+38.9%	+38.7%

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	36,000	1,900	2,050	1,800	63.2	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	36,135	2,524	2,764	2,716	95.4	0	Nov 8, 2024	J-GAAP
Revision Rate	+0.4%	+32.8%	+34.8%	+50.9%	+51.0%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	74,000	4,250	4,500	3,800	133.4	40	May 10, 2024	J-GAAP
Mar, 2025 New	74,000	4,800	5,000	4,300	151.0	49	Nov 8, 2024	J-GAAP
Revision Rate	0.0%	+12.9%	+11.1%	+13.2%	+13.2%

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	35,569	2,186	2,375	2,644	92.9	35	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	37,865	2,276	2,236	1,584	55.6	49	Nov 8, 2024	J-GAAP
YoY	+6.5%	+4.1%	-5.9%	-40.1%	-40.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	72,849	3,946	4,316	3,458	121.8	25	May 11, 2023	J-GAAP
Mar, 2024	71,940	4,901	5,336	4,600	161.7	35	May 10, 2024	J-GAAP
Mar, 2025 Guidance	74,000	4,800	5,000	4,300	151.0	49	Nov 8, 2024	J-GAAP
YoY	+2.9%	-2.1%	-6.3%	-6.5%	-6.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	18,557	1,514	1,599	1,046	36.8	8.2	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	18,411	1,216	1,310	772	27.1	6.6	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	17,158	970	1,065	1,872	65.8	5.7	May 10, 2024	J-GAAP
Apr - Jun, 2024	17,483	1,091	1,382	1,162	40.9	6.2	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	18,652	1,433	1,382	1,554	54.6	7.7	Nov 8, 2024	J-GAAP
YoY	+0.5%	-5.4%	-13.6%	+48.6%	+48.5%