Daito Pharma, First Half Ordinary Profit Decreases by 36%, Sep-Nov Ordinary Profit Decreases by 60%

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Fri Jan 10, 2025 3:30 pm JST Earnings

4577 Daito Pharmaceutical Co.,Ltd. 【J-GAAP】

Earnings Report

Daito Pharmaceutical Co.,Ltd. <4577> [TSE Prime] announced its financial results after the market closed on January 10th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending May 2025 (June to November) dropped 36.5% from the same period last year to 1.47 billion yen. The progress rate toward the full-year plan of 3.5 billion yen was 42.0%, also falling below the five-year average of 56.5%.

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 December to May period (2H) is expected to grow 26.2% from the same period last year, reaching 2.03 billion yen.

In the most recent three-month period, from September to November (2Q), the consolidated ordinary profit significantly dropped to 0.48 billion yen, a 60.1% decrease compared to the same period last year. The operating profit margin significantly dropped from 10.1% in the same period last year to 5.2%.

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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
Jun - Nov, 2022	23,367	2,826	2,752	1,762	111.3	53.2	Jan 13, 2023	J-GAAP
Jun - Nov, 2023	24,110	2,289	2,314	1,552	98.2	59.0	Jan 12, 2024	J-GAAP
Jun - Nov, 2024	24,584	1,471	1,470	908	59.4	42.0	Jan 10, 2025	J-GAAP
YoY	+2.0%	-35.7%	-36.5%	-41.5%	-39.5%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun - Nov, 2024 Guidance	ー	ー	ー	ー	－	35	Jul 12, 2024	J-GAAP
Jun - Nov, 2024 Results	24,584	1,471	1,470	908	59.4	35	Jan 10, 2025	J-GAAP
Revision Rate	－	－	－	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec - May, 2023	22,785	1,605	1,609	1,743	111.1	30	Jul 12, 2024	J-GAAP
Dec - May, 2024 Guidance	24,416	2,029	2,030	1,392	91.0	35	Jan 10, 2025	J-GAAP
YoY	+7.2%	+26.4%	+26.2%	-20.1%	-18.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	45,101	5,207	5,169	3,600	227.6	54.55	Jul 14, 2023	J-GAAP
May, 2024	46,895	3,894	3,923	3,295	210.0	60	Jul 12, 2024	J-GAAP
May, 2025 Guidance	49,000	3,500	3,500	2,300	150.4	70	Jul 12, 2024	J-GAAP
YoY	+4.5%	-10.1%	-10.8%	-30.2%	-28.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	11,932	1,209	1,222	869	55.0	10.1	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	10,552	816	808	787	49.9	7.7	Apr 12, 2024	J-GAAP
Mar - May, 2024	12,233	789	801	956	60.9	6.4	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	12,678	849	983	618	40.4	6.7	Oct 11, 2024	J-GAAP
Sep - Nov, 2024	11,906	622	487	290	19.0	5.2	Jan 10, 2025	J-GAAP
YoY	-0.2%	-48.6%	-60.1%	-66.6%	-65.5%