DAIWA HOUSE INDUSTRY CO., LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 5%, Dividend Revised Upward by 2 yen

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Tue Nov 12, 2024 2:00 pm JST Earnings

1925 DAIWA HOUSE INDUSTRY CO., LTD. 【J-GAAP】

Earnings Report

DAIWA HOUSE INDUSTRY CO., LTD. <1925> [TSE-P] announced its financial results in the afternoon session on November 12th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 17.5% from the same period last year, reaching 220 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 5.1%, from the previous forecast of 390 billion yen to 410 billion yen (compared to 427 billion yen in the previous period), and the declining rate is expected to decrease from 8.8% to 4.1%.

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 21.0% from the same period last year to 189 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 145 yen to 147 yen (compared to 143 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 4.4% from the same period last year, reaching 101 billion yen. The operating profit margin improved from 7.4% in the same period last year to 8.3%.

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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	2,261,329	154,639	153,024	105,994	161.5	33.6	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	2,544,827	191,163	188,115	154,488	234.8	44.0	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	2,652,623	234,655	220,958	156,342	244.7	53.9	Nov 12, 2024	J-GAAP
YoY	+4.2%	+22.8%	+17.5%	+1.2%	+4.2%

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	ー	ー	ー	ー	－	70	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	2,652,623	234,655	220,958	156,342	244.7	70	Nov 12, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	5,350,000	430,000	390,000	260,000	413.6	145	Aug 7, 2024	J-GAAP
Mar, 2025 New	5,370,000	440,000	410,000	267,000	424.7	147	Nov 12, 2024	J-GAAP
Revision Rate	+0.4%	+2.3%	+5.1%	+2.7%	+2.7%

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	2,658,092	249,047	239,433	144,264	220.8	80	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	2,717,377	205,345	189,042	110,658	176.0	77	Nov 12, 2024	J-GAAP
YoY	+2.2%	-17.5%	-21.0%	-23.3%	-20.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	4,908,199	465,370	456,012	308,399	469.1	130	May 12, 2023	J-GAAP
Mar, 2024	5,202,919	440,210	427,548	298,752	457.2	143	May 10, 2024	J-GAAP
Mar, 2025 Guidance	5,370,000	440,000	410,000	267,000	424.7	147	Nov 12, 2024	J-GAAP
YoY	+3.2%	0.0%	-4.1%	-10.6%	-7.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,330,232	98,088	97,266	94,481	143.6	7.4	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	1,211,637	93,817	89,337	61,796	94.0	7.7	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	1,446,455	155,230	150,096	82,468	126.2	10.7	May 10, 2024	J-GAAP
Apr - Jun, 2024	1,287,182	121,847	119,365	91,393	142.8	9.5	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	1,365,441	112,808	101,593	64,949	101.7	8.3	Nov 12, 2024	J-GAAP
YoY	+2.6%	+15.0%	+4.4%	-31.3%	-29.2%