kabutan

DAIWA CYCLE CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 30%, Adds to Record High Profit Forecast

Fri Sep 13, 2024 3:00 pm JST Earnings

5888 DAIWA CYCLE CO.,LTD. 【J-GAAP】

Earnings Report

DAIWA CYCLE CO.,LTD. <5888> [TSE-G] announced its financial results after the market closed on September 13th (15:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending January 2025 (February to July) expanded to 813 million yen, an increase of 59.4% compared to the same period last year, exceeded the previous forecast of 581 million yen.

In addition, the full-year ordinary profit has been revised upward by 29.9%, from the previous forecast of 840 million yen to 1.09 billion yen (compared to 804 million yen in the previous period), increasing the growth rate from 4.5% to 35.7%, further surpassing the previous forecast of record-high profits for two consecutive terms.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the ordinary profit for the August to January period (second half) is expected to decrease by 5.4% from the same period last year to 278 million yen.

In the most recent three-month period, from May to July (2Q), the ordinary profit increased by 93.4% from the same period last year, reaching 265 million yen. The operating profit margin improved from 3.6% in the same period last year to 6.1%.

Kabutan News

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
Feb - Jul, 2024 9,562 811 813 509 186.5 74.5 Sep 13, 2024 J-GAAP
YoY － － － － －

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb - Jul, 2024 Guidance 8,917 575 581 360 131.7 0 Mar 18, 2024 J-GAAP
Feb - Jul, 2024 Results 9,562 811 813 509 186.5 0 Sep 13, 2024 J-GAAP
Revision Rate +7.2% +41.0% +39.9% +41.4% +41.6%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan, 2025 Prev 17,059 827 840 505 184.6 37 Mar 18, 2024 J-GAAP
Jan, 2025 New 17,745 1,085 1,091 659 240.9 37 Sep 13, 2024 J-GAAP
Revision Rate +4.0% +31.2% +29.9% +30.5% +30.5%

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 8,183 274 278 150 54.8 37 Sep 13, 2024 J-GAAP
YoY +10.4% -9.0% -5.4% -10.7% -29.5%

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 17,745 1,085 1,091 659 240.9 37 Sep 13, 2024 J-GAAP
YoY +15.7% +36.1% +35.7% +31.5% +3.8%

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
YoY － － － － －

Related Articles