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DAIWA CYCLE, The Current Fiscal Year Ordinary Profit Revised Upward by 23%, Adds to Record High Profit Forecast

Mon Dec 16, 2024 3:30 pm JST Earnings

5888 DAIWA CYCLE CO.,LTD. 【J-GAAP】

Earnings Report

DAIWA CYCLE CO.,LTD. <5888> [TSE Growth] announced its financial results after the market closed on December 16th (15:30). The ordinary profit (non-consolidated) for the cumulative third quarter of the fiscal year ending January 2025 (February to October) expanded 1.25 billion yen, an increase 69.6% compared to the same period last year.

In addition, the full-year ordinary profit has been revised upward 22.8%, from the previous forecast of 1.09 billion yen to 1.34 billion yen (compared to 804 million yen in the previous period), increasing the growth rate from 35.7% to 66.7%, further surpassing the previous forecast of record-high profits for two consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the ordinary profit for the August to January period (second half) is expected to increase 89.6%, from the previous forecast of 278 million yen to 527 million yen (compared to 294 million yen in the same period of the previous year), turning to a 79.3% increase in the ordinary profit outlook.

In the most recent three-month period, from August to October (3Q), the ordinary profit increased 92.5% from the same period last year, reaching 437 million yen. The operating profit margin significantly improved from 5.9% in the same period last year to 9.4%.

Kabutan News

Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Feb - Oct, 2023 11,805 725 737 456 228.1 91.7 Dec 15, 2023 J-GAAP
Feb - Oct, 2024 14,214 1,248 1,250 777 284.4 93.3 Dec 16, 2024 J-GAAP
YoY +20.4% +72.1% +69.6% +70.4% +24.7%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug - Jan, 2024 Prev 8,183 274 278 150 54.9 37 Sep 13, 2024 J-GAAP
Aug - Jan, 2024 New 8,750 524 527 359 131.4 37 Dec 16, 2024 J-GAAP
Revision Rate +6.9% +91.2% +89.6% +139.3% +139.4%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan, 2025 Prev 17,745 1,085 1,091 659 241.2 37 Sep 13, 2024 J-GAAP
Jan, 2025 New 18,312 1,335 1,340 868 317.7 37 Dec 16, 2024 J-GAAP
Revision Rate +3.2% +23.0% +22.8% +31.7% +31.7%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug - Jan, 2023 7,412 301 294 168 77.8 49 Mar 18, 2024 J-GAAP
Aug - Jan, 2024 Guidance 8,750 524 527 359 131.4 37 Dec 16, 2024 J-GAAP
YoY +18.1% +74.1% +79.3% +113.7% +68.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan, 2024 15,339 797 804 501 232.1 49 Mar 18, 2024 J-GAAP
Jan, 2025 Guidance 18,312 1,335 1,340 868 317.7 37 Dec 16, 2024 J-GAAP
YoY +19.4% +67.5% +66.7% +73.3% +36.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Aug - Oct, 2023 3,878 229 227 123 61.5 5.9 Dec 15, 2023 J-GAAP
Nov - Jan, 2023 3,534 72 67 45 20.9 2.0 Mar 18, 2024 J-GAAP
Feb - Apr, 2024 5,316 553 548 365 133.6 10.4 Jun 14, 2024 J-GAAP
May - Jul, 2024 4,246 258 265 144 52.8 6.1 Sep 13, 2024 J-GAAP
Aug - Oct, 2024 4,652 437 437 268 98.1 9.4 Dec 16, 2024 J-GAAP
YoY +20.0% +90.8% +92.5% +117.9% +59.4%

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