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Daiwa Heavy Industry Co.,Ltd., July-September (3Q) Ordinary Profit Turns to Loss, Postponed Dividend for This Fiscal Year

Mon Nov 11, 2024 5:30 pm JST Earnings

5610 Daiwa Heavy Industry Co.,Ltd. 【J-GAAP】

Earnings Report

Daiwa Heavy Industry Co.,Ltd. <5610> [TSE-S] announced its financial results after the market closed on November 11th (17:30). The ordinary profit/loss (non-consolidated) for the cumulative third quarter of the fiscal year ending December 2024 (January to September) turned into a loss of 17 million yen (compared to a profit of 79 million yen in the same period last year).

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to December period (4Q) is expected to expand by 54.2% from the same period last year, reaching 37 million yen.

At the same time, In conjunction with a Tender Offer Bid (TOB), the company has decided to forgo the year-end lump-sum dividend of undecided for the current fiscal year.

In the most recent three-month period, from July to September (3Q), the ordinary profit/loss turned to a loss of 37 million yen (compared to a profit of 33 million yen in the same period last year). The operating profit/loss margin drastically worsened from 1.0% in the same period last year to -6.4%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Sep, 2022 2,771 -79 1 -8 -6.3 1.6 Nov 14, 2022 J-GAAP
Jan - Sep, 2023 3,135 -5 79 59 45.5 76.7 Nov 10, 2023 J-GAAP
Jan - Sep, 2024 3,055 -117 -17 -37 -28.3 ー Nov 11, 2024 J-GAAP
YoY -2.6% -2,240.0% － － －

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 Prev 2,096 -74 0 2 1.5 － Aug 9, 2024 J-GAAP
Jul - Dec, 2024 New 2,096 -74 0 2 1.5 0 Nov 11, 2024 J-GAAP
Revision Rate 0.0% 0.0% － 0.0% 0.0%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 4,200 -130 20 1 0.8 － Aug 9, 2024 J-GAAP
Dec, 2024 New 4,200 -130 20 1 0.8 0 Nov 11, 2024 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 0.0% 0.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 2,410 -12 57 33 25.2 0 Feb 13, 2024 J-GAAP
Jul - Dec, 2024 Guidance 2,096 -74 0 2 1.5 0 Nov 11, 2024 J-GAAP
YoY -13.0% -516.7% － -93.9% -94.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 3,865 -61 63 70 53.8 0 Feb 13, 2023 J-GAAP
Dec, 2023 4,382 -29 103 66 50.3 0 Feb 13, 2024 J-GAAP
Dec, 2024 Guidance 4,200 -130 20 1 0.8 0 Nov 11, 2024 J-GAAP
YoY -4.2% -348.3% -80.6% -98.5% -98.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 1,163 12 33 26 20.1 1.0 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 1,247 -24 24 7 5.3 -1.9 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 977 -46 -25 -17 -13.3 -4.7 May 15, 2024 J-GAAP
Apr - Jun, 2024 1,127 -10 45 16 23.8 -0.9 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 951 -61 -37 -36 -27.6 -6.4 Nov 11, 2024 J-GAAP
YoY -18.2% － － － －

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