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DAIHO CORPORATION, First Half Ordinary Profit Decreases by 80%

Thu Nov 14, 2024 4:00 pm JST Earnings

1822 DAIHO CORPORATION 【J-GAAP】

Earnings Report

DAIHO CORPORATION <1822> [TSE-S] announced its financial results after the market closed on November 14th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 80.2% from the same period last year to 343 million yen, fell short of the previous forecast of 500 million yen.

The progress rate against the 5.9 billion yen full-year plan was 5.8%, also falling below the five-year average of 53.8%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a profit of 5.55 billion yen (compared to a loss of 473 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 479 million yen, a 20.0% decrease compared to the same period last year. However, the operating profit margin improved from 1.2% in the same period last year to 3.1%.

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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 69,843 2,262 2,517 1,475 16.8 49.8 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 76,265 911 1,732 8 0.1 137.6 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 67,608 626 343 486 5.5 5.8 Nov 14, 2024 J-GAAP
YoY -11.4% -31.3% -80.2% +5,975.0% +5,430.0%

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 69,000 400 500 400 4.6 － May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 67,608 626 343 486 5.5 － Nov 14, 2024 J-GAAP
Revision Rate -2.0% +56.5% -31.4% +21.5% +21.5%

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 86,957 -445 -473 -2,080 -23.6 5.40 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 77,392 5,274 5,557 3,514 39.9 22.80 Nov 14, 2024 J-GAAP
YoY -11.0% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 156,050 5,064 5,054 2,914 33.1 46 May 12, 2023 J-GAAP
Mar, 2024 163,222 466 1,259 -2,072 -23.5 5.40 May 13, 2024 J-GAAP
Mar, 2025 Guidance 145,000 5,900 5,900 4,000 45.4 22.80 May 13, 2024 J-GAAP
YoY -11.2% +1,166.1% +368.6% － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 40,582 470 599 -662 -8.1 1.2 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 40,683 -767 -1,267 -1,028 -11.7 -1.9 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 46,274 322 794 -1,052 -12.0 0.7 May 13, 2024 J-GAAP
Apr - Jun, 2024 32,126 -458 -136 -59 -0.7 -1.4 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 35,482 1,084 479 545 6.2 3.1 Nov 14, 2024 J-GAAP
YoY -12.6% +130.6% -20.0% － －

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