Daio Paper Corporation, The Current Fiscal Year Ordinary Profit Revised Downward by 29%

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Thu Nov 14, 2024 1:00 pm JST Earnings

3880 Daio Paper Corporation 【J-GAAP】

Earnings Report

Daio Paper Corporation <3880> [TSE-P] announced its financial results in the afternoon session on November 14th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 83.9% from the same period last year to 870 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 28.6%, from the previous forecast of 7 billion yen to 5 billion yen (compared to 9.62 billion yen in the previous period), leading to an increase in the profit decline rate from 27.3% to 48.0%.

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 2.0% from the same period last year to 4.13 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 1.18 billion yen (compared to a profit of 2.74 billion yen in the same period last year). The operating profit margin worsened from 2.7% in the same period last year to 1.0%.

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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	308,679	-7,265	-7,792	-8,301	-50.0	ー	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	331,228	7,428	5,406	3,926	23.6	56.2	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	333,650	3,708	870	-3,467	-20.8	17.4	Nov 14, 2024	J-GAAP
YoY	+0.7%	-50.1%	-83.9%	－	－

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	335,000	3,000	0	-3,000	-18.0	7	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	333,650	3,708	870	-3,467	-20.8	7	Nov 14, 2024	J-GAAP
Revision Rate	-0.4%	+23.6%	－	-15.6%	-15.6%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	700,000	15,000	7,000	1,000	6.0	16	May 15, 2024	J-GAAP
Mar, 2025 New	680,000	11,500	5,000	0	0.0	16	Nov 14, 2024	J-GAAP
Revision Rate	-2.9%	-23.3%	-28.6%	－	－

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	340,460	6,939	4,216	581	3.5	9	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	346,350	7,792	4,130	3,467	0.0	9	Nov 14, 2024	J-GAAP
YoY	+1.7%	+12.3%	-2.0%	+496.7%	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	646,213	-21,441	-24,050	-34,705	-209.0	16	May 12, 2023	J-GAAP
Mar, 2024	671,688	14,367	9,622	4,507	27.1	16	May 15, 2024	J-GAAP
Mar, 2025 Guidance	680,000	11,500	5,000	0	0.0	16	Nov 14, 2024	J-GAAP
YoY	+1.2%	-20.0%	-48.0%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	169,215	4,649	2,740	618	3.7	2.7	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	172,546	3,664	1,163	-1,910	-11.5	2.1	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	167,914	3,275	3,053	2,491	15.0	2.0	May 15, 2024	J-GAAP
Apr - Jun, 2024	166,263	1,965	2,051	-1,083	-6.5	1.2	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	167,387	1,743	-1,181	-2,384	-14.3	1.0	Nov 14, 2024	J-GAAP
YoY	-1.1%	-62.5%	－	－	－