Dai Nippon Printing (7912) Q2 2025 earnings summary

Executive summary

• Net sales for the first six months of FY2024 rose 2.1% year-over-year to ¥708.3 billion, driven by growth in focus business areas and improved earnings from restructured businesses, with operating income up 38.6% to ¥38.1 billion and net income attributable to parent up 17.7% to ¥89.7 billion, supported by extraordinary gains on investment securities sales.

• The company is in the second year of its Medium-term Management Plan, focusing on business portfolio optimization, investment in growth, and shareholder returns.

• Gains on sales of strategic shareholdings and strong performance at equity-method affiliates contributed to higher ordinary and net income.

Financial highlights

• Gross profit increased to ¥159.9 billion from ¥147.0 billion year-over-year.

• Operating income margin improved, with operating income at 5.4% of sales for the period.

• Ordinary income rose 33.5% to ¥50.0 billion.

• Net income per share was ¥191.12, reflecting a 2-for-1 stock split effective October 1, 2024.

• Comprehensive income declined 3.7% year-over-year to ¥62.4 billion.

Outlook and guidance

• Full-year FY2024 guidance maintained: sales forecast at ¥1,455.0 billion (+2.1% year-over-year), operating income at ¥80.0 billion (+6.0%), and net income at ¥90.0 billion (-18.9%).

• Net income per share forecast for the year is ¥193.48, adjusted for the stock split.

• ROE expected to decrease to 8.0% from 9.8% in FY2023.

• No changes to previously announced earnings forecasts.