Daido Metal Co., Ltd. Revises Consolidated Earnings Guidance for the Six Months Ending September 30, 2023 and Full Year Ending March 31, 2024
August 10, 2023 at 01:00 am EDT
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Daido Metal Co., Ltd. revised consolidated earnings guidance for the six months ending September 30, 2023 and full year ending March 31, 2024. For the six months, the company now expects net sales to be JPY 62,700 million, operating profit to be JPY 1,800 million, profit attributable to owners of parent to be JPY 300 million and basic earnings per share to be JPY 6.36 against net sales of JPY 60,000 million, operating profit of JPY 1,200 million, loss attributable to owners of parent of JPY 210 million and basic loss per share of JPY 4.45 as previously forecasted.
For the full year, the company expects net sales to be JPY 124,000 million, operating profit to be JPY 3,700 million, profit attributable to owners of parent to be JPY 600 million and basic earnings per share to be JPY 12.73 against net sales of JPY 121,000 million, operating profit of JPY 3,100 million, profit attributable to owners of parent of JPY 200 million and basic earnings per share of JPY 4.24 as previously forecasted.
Daido Metal Co., Ltd. is a Japan-based company engaged in the manufacture and sale of bearings. The Company operates primarily in four business segments. The Automobile Engine Bearing segment and Automobile Bearing (Except Engine) segment are involved in the manufacture and sale of bearings for automobile engines, as well as bearings for shock absorbers, pump bushes for power steering, bearings for turbo chargers, bearings for balancer mechanisms. The Non-Automobile Bearing segment offers engine bearings for ships and construction machineries, water turbines for hydroelectric power generation, turbines for power generation, compressors, speed increasing and decreasing bearings and others. The Parts of Non-Automotive Bearings provides parts, including bending pipes, knock pins and NC cutting products. The others provides real estate leasing business, metallic non-lubricated bearing business and pump related products business.
DAIDO METAL CO., LTD. 
