DAIWA TSUSHIN Co., Ltd, First Half Ordinary Profit Decreases by 1%, Current Fiscal Year Dividend Revised Upward by 30 yen

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Thu Nov 14, 2024 3:30 pm JST Earnings

7116 DAIWA TSUSHIN Co., Ltd 【J-GAAP】

Earnings Report

DAIWA TSUSHIN Co., Ltd <7116> [TSE-S] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 139 million yen, a 0.7% decrease compared to the same period last year. The progress rate against the 392 million yen full-year plan was 35.5%, almost the same as the same period of the previous year of 37.7%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 9.5% from the same period last year, reaching 253 million yen.

At the same time, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 15 yen to 45 yen (compared to 10 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 92 million yen, a 7.1% decrease compared to the same period last year. The operating profit margin worsened from 7.9% in the same period last year to 6.4%.

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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, 2023	2,334	143	140	94	34.9	37.7	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	2,397	129	139	88	32.5	35.5	Nov 14, 2024	J-GAAP
YoY	+2.7%	-9.8%	-0.7%	-6.4%	-6.8%

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	－	5	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	2,397	129	139	88	32.5	5	Nov 14, 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	5,417	400	392	258	95.3	15	May 14, 2024	J-GAAP
Mar, 2025 New	5,417	400	392	258	95.3	45	Nov 14, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

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	2,825	221	231	163	60.3	10	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	3,020	271	253	170	62.8	40	Nov 14, 2024	J-GAAP
YoY	+6.9%	+22.6%	+9.5%	+4.3%	+4.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	4,818	394	370	242	89.7	0	May 15, 2023	J-GAAP
Mar, 2024	5,159	364	371	257	95.1	10	May 14, 2024	J-GAAP
Mar, 2025 Guidance	5,417	400	392	258	95.3	45	Nov 14, 2024	J-GAAP
YoY	+5.0%	+9.9%	+5.7%	+0.4%	+0.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,246	99	99	67	24.9	7.9	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	1,298	59	59	39	14.4	4.5	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	1,527	162	172	124	45.9	10.6	May 14, 2024	J-GAAP
Apr - Jun, 2024	1,091	46	47	31	11.5	4.2	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	1,306	83	92	57	21.1	6.4	Nov 14, 2024	J-GAAP
YoY	+4.8%	-16.2%	-7.1%	-14.9%	-15.4%