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.

• Operating income increased 38.6% year-over-year to ¥38.1 billion.

• Net income attributable to parent company shareholders grew 17.7% year-over-year to ¥89.7 billion.

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

• Comprehensive income for the period was ¥62.4 billion, down 3.7% year-over-year.

Financial highlights

• Ordinary income for the first six months was ¥50.0 billion, up 33.5% year-over-year.

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

• R&D expenditures increased 3.7% year-over-year to ¥18.4 billion; capital expenditures rose 7.2% to ¥31.3 billion.

• Net income per share for the period was ¥191.12, reflecting a 2-for-1 stock split.

• Equity ratio improved to 60.7% as of September 30, 2024.

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.

• Net income per share for the full year is expected to be ¥193.48, considering the stock split.

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