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Daio Paper Corporation, The Current Fiscal Year Ordinary Profit Revised Downward by 29%

Thu Nov 14, 2024 1:00 pm JST Earnings

3880 Daio Paper Corporation 【J-GAAP】

Earnings Report

Daio Paper Corporation <3880> [TSE-P] announced its financial results in the afternoon session on November 14th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 83.9% from the same period last year to 870 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 28.6%, from the previous forecast of 7 billion yen to 5 billion yen (compared to 9.62 billion yen in the previous period), leading to an increase in the profit decline rate from 27.3% to 48.0%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 2.0% from the same period last year to 4.13 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 1.18 billion yen (compared to a profit of 2.74 billion yen in the same period last year). The operating profit margin worsened from 2.7% in the same period last year to 1.0%.

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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 308,679 -7,265 -7,792 -8,301 -50.0 ー Nov 11, 2022 J-GAAP
Apr - Sep, 2023 331,228 7,428 5,406 3,926 23.6 56.2 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 333,650 3,708 870 -3,467 -20.8 17.4 Nov 14, 2024 J-GAAP
YoY +0.7% -50.1% -83.9% － －

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 335,000 3,000 0 -3,000 -18.0 7 May 15, 2024 J-GAAP
Apr - Sep, 2024 Results 333,650 3,708 870 -3,467 -20.8 7 Nov 14, 2024 J-GAAP
Revision Rate -0.4% +23.6% － -15.6% -15.6%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 700,000 15,000 7,000 1,000 6.0 16 May 15, 2024 J-GAAP
Mar, 2025 New 680,000 11,500 5,000 0 0.0 16 Nov 14, 2024 J-GAAP
Revision Rate -2.9% -23.3% -28.6% － －

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 340,460 6,939 4,216 546 3.3 9 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 346,350 7,792 4,130 3,467 0.0 9 Nov 14, 2024 J-GAAP
YoY +1.7% +12.3% -2.0% +535.0% －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 646,213 -21,441 -24,050 -34,705 -209.0 16 May 12, 2023 J-GAAP
Mar, 2024 671,688 14,367 9,622 4,472 26.9 16 May 15, 2024 J-GAAP
Mar, 2025 Guidance 680,000 11,500 5,000 0 0.0 16 Nov 14, 2024 J-GAAP
YoY +1.2% -20.0% -48.0% － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 169,215 4,649 2,740 618 3.7 2.7 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 172,546 3,664 1,163 -1,935 -11.6 2.1 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 167,914 3,275 3,053 2,481 14.9 2.0 May 15, 2024 J-GAAP
Apr - Jun, 2024 166,263 1,965 2,051 -1,083 -6.5 1.2 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 167,387 1,743 -1,181 -2,384 -14.3 1.0 Nov 14, 2024 J-GAAP
YoY -1.1% -62.5% － － －

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