Daido Steel, Apr-Dec (Cumulative 3Q) Net Income Decreases by 19%, Oct-Dec Net Income Decreases by 35%

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Fri Jan 31, 2025 11:30 am JST Earnings

5471 Daido Steel Co., Ltd. 【J-GAAP】

Earnings Report

Daido Steel Co., Ltd. <5471> [TSE Prime] announced its financial results (based on IFRS) at noon (11:30) on January 31st. The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 19.3% from the same period last year to 23.1 billion yen. The progress rate toward the full-year plan of 28 billion yen was 82.8%, below the same period of the previous year of 94.0%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the January to March period (4Q) is expected to surge 2.6 times that of the same period last year, reaching 4.83 billion yen.

In the most recent three-month period, from October to December (3Q), the consolidated net income dropped to 11 billion yen, a 35.1% decrease compared to the same period last year. The operating profit margin decreased from 13.5% in the same period last year to 10.5%.

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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
Apr - Dec, 2022	434,726	37,654	39,094	28,186	132.3	81.2	Jan 30, 2023	J-GAAP
Apr - Dec, 2023	438,769	38,128	40,584	28,729	97.3	90.1	Jan 31, 2024	IFRS
Apr - Dec, 2024	433,961	34,070	36,653	23,170	109.3	86.2	Jan 31, 2025	IFRS
YoY	-1.1%	-10.6%	-9.7%	-19.3%	+12.3%

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	291,329	24,555	26,095	18,798	88.2	26	May 10, 2024	IFRS
Oct - Mar, 2024 Guidance	296,561	21,742	22,892	15,848	77.0	26	Oct 30, 2024	IFRS
YoY	+1.8%	-11.5%	-12.3%	-15.7%	-12.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	578,564	46,986	48,122	36,438	171.0	46	Apr 28, 2023	J-GAAP
Mar, 2024	578,564	42,250	45,068	30,555	143.4	46	May 10, 2024	IFRS
Mar, 2025 Guidance	580,000	40,000	42,500	28,000	136.0	47	Oct 30, 2024	IFRS
YoY	+0.2%	-5.3%	-5.7%	-8.4%	-5.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	151,534	20,433	21,611	16,972	57.5	13.5	Jan 31, 2024	IFRS
Jan - Mar, 2024	139,795	4,122	4,484	1,826	8.6	2.9	May 10, 2024	IFRS
Apr - Jun, 2024	142,094	10,067	11,425	6,776	31.8	7.1	Jul 29, 2024	IFRS
Jul - Sep, 2024	141,345	8,191	8,183	5,376	25.2	5.8	Oct 30, 2024	IFRS
Oct - Dec, 2024	150,522	15,812	17,045	11,018	52.0	10.5	Jan 31, 2025	IFRS
YoY	-0.7%	-22.6%	-21.1%	-35.1%	-9.6%