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Daiwa Co.,Ltd., First Half Ordinary Profit Decreases by 34%

Thu Oct 10, 2024 3:30 pm JST Earnings

8247 Daiwa Co.,Ltd. 【J-GAAP】

Earnings Report

Daiwa Co.,Ltd. <8247> [TSE-S] announced its financial results after the market closed on October 10th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) dropped by 33.7% from the same period last year to 136 million yen. The progress rate against the 150 million yen full-year plan was 90.7%, also surpassing the five-year average of 64.9%.

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 September to February period (second half) is expected to significant drop by 82.1% from the same period last year to 14 million yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 4 million yen, a 20.0% decrease compared to the same period last year. However, the operating profit/loss margin improved from -1.5% in the same period last year to -0.4%.

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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
Mar - Aug, 2022 7,687 3 77 13 2.5 56.2 Oct 11, 2022 J-GAAP
Mar - Aug, 2023 7,927 107 205 192 34.3 72.4 Oct 12, 2023 J-GAAP
Mar - Aug, 2024 8,189 126 136 159 28.5 90.7 Oct 10, 2024 J-GAAP
YoY +3.3% +17.8% -33.7% -17.2% -17.0%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2024 Guidance 8,180 125 135 155 27.6 0 Oct 4, 2024 J-GAAP
Mar - Aug, 2024 Results 8,189 126 136 159 28.5 0 Oct 10, 2024 J-GAAP
Revision Rate +0.1% +0.8% +0.7% +2.6% +3.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2023 8,610 115 78 460 82.1 0 Apr 11, 2024 J-GAAP
Sep - Feb, 2024 Guidance 8,511 174 14 21 3.7 － Oct 10, 2024 J-GAAP
YoY -1.1% +51.3% -82.1% -95.4% -95.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 15,852 103 137 70 12.6 0 Apr 13, 2023 J-GAAP
Feb, 2024 16,537 222 283 652 116.3 0 Apr 11, 2024 J-GAAP
Feb, 2025 Guidance 16,700 300 150 180 32.1 － Oct 4, 2024 J-GAAP
YoY +1.0% +35.1% -47.0% -72.4% -72.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 3,921 -60 5 13 2.3 -1.5 Oct 12, 2023 J-GAAP
Sep - Nov, 2023 3,836 98 74 225 40.1 2.6 Jan 11, 2024 J-GAAP
Dec - Feb, 2023 4,774 17 4 235 41.9 0.4 Apr 11, 2024 J-GAAP
Mar - May, 2024 4,216 140 132 132 23.5 3.3 Jul 11, 2024 J-GAAP
Jun - Aug, 2024 3,973 -14 4 27 4.8 -0.4 Oct 10, 2024 J-GAAP
YoY +1.3% +76.7% -20.0% +107.7% +108.2%

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