DAIDO KOGYO CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 26%

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Wed Nov 13, 2024 3:30 pm JST Earnings

6373 DAIDO KOGYO CO.,LTD. 【J-GAAP】

Earnings Report

DAIDO KOGYO CO.,LTD. <6373> [TSE-S] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 839 million yen, an increase of 80.0% compared to the same period last year.

However, the full-year consolidated ordinary profit has downwardly by 26.1%, from the previous forecast of 2.3 billion yen to 1.7 billion yen (compared to 778 million yen in the previous period), leading to a reduction in the profit growth rate from 3.0 times to 2.2 times.

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 surge by 2.8 times that of the same period last year, reaching 861 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged to 43 times that of the same period last year, reaching 173 million yen. The operating profit/loss margin drastically improved from -1.8% in the same period last year to 4.2%.

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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	26,417	806	1,603	921	84.4	97.0	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	27,705	-309	466	367	34.6	59.9	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	28,726	759	839	542	52.7	49.4	Nov 13, 2024	J-GAAP
YoY	+3.7%	－	+80.0%	+47.7%	+52.2%

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	27,700	800	800	600	59.2	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	28,726	759	839	542	52.7	0	Nov 13, 2024	J-GAAP
Revision Rate	+3.7%	-5.1%	+4.9%	-9.7%	-10.9%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	56,800	2,300	2,300	1,600	157.8	25	May 14, 2024	J-GAAP
Mar, 2025 New	56,800	1,700	1,700	1,500	148.0	25	Nov 13, 2024	J-GAAP
Revision Rate	0.0%	-26.1%	-26.1%	-6.3%	-6.2%

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	28,336	536	312	-25	-2.4	15	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	28,074	941	861	958	94.5	25	Nov 13, 2024	J-GAAP
YoY	-0.9%	+75.6%	+176.0%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	55,054	1,379	1,652	-257	-23.9	15	May 12, 2023	J-GAAP
Mar, 2024	56,041	227	778	342	32.6	15	May 14, 2024	J-GAAP
Mar, 2025 Guidance	56,800	1,700	1,700	1,500	148.0	25	Nov 13, 2024	J-GAAP
YoY	+1.4%	+648.9%	+118.5%	+338.6%	+354.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	13,920	-252	4	-43	-4.1	-1.8	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	14,307	313	399	230	21.8	2.2	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	14,029	223	-87	-255	-24.3	1.6	May 14, 2024	J-GAAP
Apr - Jun, 2024	14,381	159	666	416	40.2	1.1	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	14,345	600	173	126	12.3	4.2	Nov 13, 2024	J-GAAP
YoY	+3.1%	－	+4,225.0%	－	－