DAISHIN CHEMICAL CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 1% Decrease

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Tue Nov 12, 2024 3:45 pm JST Earnings

4629 DAISHIN CHEMICAL CO.,LTD. 【J-GAAP】

Earnings Report

DAISHIN CHEMICAL CO.,LTD. <4629> [TSE-S] announced its financial results after the market closed on November 12th (15:45). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 27.6% from the same period last year to 385 million yen, resulting in a decrease in profits compared to the previous forecast of a 3.4% increase.

In addition, the full-year consolidated ordinary profit has downwardly by 15.5%, from the previous forecast of 1.1 billion yen to 930 million yen (compared to 939 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 1.0% 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 expand by 33.9% from the same period last year, reaching 545 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 280 million yen, a 32.7% decrease compared to the same period last year. The operating profit margin worsened from 4.9% in the same period last year to 2.9%.

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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	17,086	725	756	509	111.4	57.8	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	16,079	462	532	355	77.8	56.7	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	17,259	336	385	250	54.8	41.4	Nov 12, 2024	J-GAAP
YoY	+7.3%	-27.3%	-27.6%	-29.6%	-29.5%

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	17,500	520	550	340	74.3	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	17,259	336	385	250	54.8	0	Nov 12, 2024	J-GAAP
Revision Rate	-1.4%	-35.4%	-30.0%	-26.5%	-26.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	35,000	1,050	1,100	680	148.6	40	May 14, 2024	J-GAAP
Mar, 2025 New	35,000	850	930	580	126.8	40	Nov 12, 2024	J-GAAP
Revision Rate	0.0%	-19.0%	-15.5%	-14.7%	-14.7%

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	16,382	363	407	272	59.5	40	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	17,741	514	545	330	72.1	40	Nov 12, 2024	J-GAAP
YoY	+8.3%	+41.6%	+33.9%	+21.3%	+21.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	34,391	1,253	1,307	955	209.0	40	May 12, 2023	J-GAAP
Mar, 2024	32,461	825	939	627	137.1	40	May 14, 2024	J-GAAP
Mar, 2025 Guidance	35,000	850	930	580	126.8	40	Nov 12, 2024	J-GAAP
YoY	+7.8%	+3.0%	-1.0%	-7.5%	-7.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	8,077	395	416	280	61.3	4.9	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	8,595	121	139	92	20.1	1.4	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	7,787	242	268	180	39.4	3.1	May 14, 2024	J-GAAP
Apr - Jun, 2024	8,528	84	105	65	14.2	1.0	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	8,731	252	280	185	40.6	2.9	Nov 12, 2024	J-GAAP
YoY	+8.1%	-36.2%	-32.7%	-33.9%	-33.9%