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DIAMOND ELECTRIC HOLDINGS Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Downward by 75%

Thu Nov 14, 2024 11:00 am JST Earnings

6699 DIAMOND ELECTRIC HOLDINGS Co.,Ltd. 【J-GAAP】

Earnings Report

DIAMOND ELECTRIC HOLDINGS Co.,Ltd. <6699> [TSE-P] announced its financial results in the morning on November 14th (11:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 704 million yen (compared to a profit of 494 million yen in the same period last year), further increasing the deficit beyond the forecast of a loss of 340 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 74.6%, from the previous forecast of 590 million yen to 150 million yen (compared to 1.31 billion yen in the previous period), leading to an increase in the profit decline rate from 55.1% to 88.6%.

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 grow by 4.3% from the same period last year, reaching 854 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 1.33 billion yen (compared to a profit of 215 million yen in the same period last year). The operating profit margin remained almost flat, changing from 0.2% in the same period last year to 0.0%.

Kabutan News

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 43,263 -1,583 -220 -580 -79.0 ー Nov 11, 2022 J-GAAP
Apr - Sep, 2023 44,978 -362 494 -188 -22.5 37.6 Nov 14, 2023 J-GAAP
Apr - Sep, 2024 44,095 6 -704 -1,035 -123.6 ー Nov 14, 2024 J-GAAP
YoY -2.0% － － -450.5% -448.9%

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 43,600 -50 -340 -870 -103.9 0 Aug 14, 2024 J-GAAP
Apr - Sep, 2024 Results 44,095 6 -704 -1,035 -123.6 0 Nov 14, 2024 J-GAAP
Revision Rate +1.1% － -107.1% -19.0% -19.0%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 92,800 1,350 590 -200 -23.9 25 Aug 14, 2024 J-GAAP
Mar, 2025 New 87,500 1,000 150 -500 -59.7 25 Nov 14, 2024 J-GAAP
Revision Rate -5.7% -25.9% -74.6% -150.0% -150.0%

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 48,356 592 819 -1,709 -204.1 12.50 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 43,405 994 854 535 63.9 25 Nov 14, 2024 J-GAAP
YoY -10.2% +67.9% +4.3% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 91,106 -1,187 -817 -1,075 -139.5 25 May 12, 2023 J-GAAP
Mar, 2024 93,334 230 1,313 -1,897 -226.6 12.50 May 15, 2024 J-GAAP
Mar, 2025 Guidance 87,500 1,000 150 -500 -59.7 25 Nov 14, 2024 J-GAAP
YoY -6.3% +334.8% -88.6% +73.6% +73.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 22,868 45 215 -111 -13.3 0.2 Nov 14, 2023 J-GAAP
Oct - Dec, 2023 23,679 -55 -634 -1,667 -199.2 -0.2 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 24,677 647 1,453 -42 -5.0 2.6 May 15, 2024 J-GAAP
Apr - Jun, 2024 21,318 6 629 -118 -14.2 0.0 Aug 14, 2024 J-GAAP
Jul - Sep, 2024 22,777 0 -1,333 -917 -109.5 0.0 Nov 14, 2024 J-GAAP
YoY -0.4% － － -726.1% -723.5%

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