Daytona (7228) Q2 2024 earnings summary

Executive summary

• Revenue for the first half of FY2024 increased 1.4% year-over-year to ¥6,838 million, but operating profit declined 13.7% to ¥770 million and net profit attributable to shareholders fell 4.9% to ¥554 million.

• Domestic wholesale and retail segments underperformed due to inventory adjustments and weaker consumer demand, while the Asian wholesale segment saw significant growth.

Financial highlights

• Revenue: ¥6,838 million (up 1.4% year-over-year).

• Operating profit: ¥770 million (down 13.7% year-over-year).

• Ordinary profit: ¥795 million (down 8.4% year-over-year).

• Net profit attributable to shareholders: ¥554 million (down 4.9% year-over-year).

• EPS: ¥223.64 (down from ¥235.64 year-over-year).

Outlook and guidance

• Full-year guidance remains unchanged: revenue ¥14,413 million (+3.2%), operating profit ¥1,772 million (+4.4%), net profit ¥1,214 million (+2.8%), EPS ¥512.68.

• Asian wholesale expected to continue strong growth, offsetting domestic weakness.

• Management notes uncertainty due to FX, domestic economy, consumer trends, and weather.