DAIHO CORPORATION, First Half Ordinary Profit Decreases by 80%

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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	83.8	49.8	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	76,265	911	1,732	8	0.5	137.6	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	67,608	626	343	486	27.7	5.8	Nov 14, 2024	J-GAAP
YoY	-11.4%	-31.3%	-80.2%	+5,975.0%	+5,544.9%

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	69,000	400	500	400	22.7	－	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	67,608	626	343	486	27.7	－	Nov 14, 2024	J-GAAP
Revision Rate	-2.0%	+56.5%	-31.4%	+21.5%	+21.6%

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	86,957	-445	-473	-2,080	-118.2	27	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	77,392	5,274	5,557	3,514	199.4	114	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	165.5	230	May 12, 2023	J-GAAP
Mar, 2024	163,222	466	1,259	-2,072	-117.7	27	May 13, 2024	J-GAAP
Mar, 2025 Guidance	145,000	5,900	5,900	4,000	226.9	114	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	-40.6	1.2	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	40,683	-767	-1,267	-1,028	-58.4	-1.9	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	46,274	322	794	-1,052	-59.8	0.7	May 13, 2024	J-GAAP
Apr - Jun, 2024	32,126	-458	-136	-59	-3.4	-1.4	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	35,482	1,084	479	545	31.0	3.1	Nov 14, 2024	J-GAAP
YoY	-12.6%	+130.6%	-20.0%	－	－