Dai Nippon Printing (7912) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 FY2025 rose 3.3% year-over-year to ¥356.6 billion, with operating income up 38.9% to ¥18.4 billion and net income attributable to parent company shareholders up 9.0% to ¥63.2 billion, aided by extraordinary gains on investment securities sales.

• The company continues to execute its Medium-Term Management Plan, focusing on business portfolio optimization, investment in growth, and shareholder returns.

• Ordinary income grew 32.1% year-over-year, supported by equity-method affiliates and gains on sales of strategic shareholdings.

Financial highlights

• Gross profit increased to ¥79.5 billion from ¥73.5 billion year-over-year; operating margin improved as operating income rose to ¥18.4 billion from ¥13.2 billion.

• Extraordinary gains totaled ¥69.2 billion, mainly from the sale of investment securities.

• Net income per share was ¥267.35, up from ¥225.12 in the prior year.

• Total assets stood at ¥1,948.1 billion, with an equity ratio of 60.4%.

• Capital expenditures for the quarter were ¥12.6 billion, down 8.9% year-over-year.

Outlook and guidance

• Full-year FY2025 guidance is unchanged: net sales ¥1,455 billion (+2.1%), operating income ¥80 billion (+6.0%), net income attributable to parent company shareholders ¥90 billion (−18.9%), and net income per share ¥191.40 (post-split).

• Dividend forecast for FY2025 is ¥32.00 per share (pre-split) at year-end; a 2-for-1 stock split is scheduled for October 1, 2024.

• Management reiterates medium-term targets and cautions that forecasts are subject to risks and uncertainties.