Daido Steel (5471 JP) produced FY24 (March year-end) results full-year OP [IFRS basis] of ¥39,408mil (-6.7% YoY) on sales of ¥574,945mil (-0.6% YoY). Due to multiple unknown factors surrounding the business environment such as impact from the US trade tariff policy and volatile FOREX, Daido Steel only released FY25 1H guidance. The firm is guiding for 1H OP of ¥12,500mil (-31.5% YoY / -40.9% HoH) on sales of ¥275,000mil (-3.0% YoY / -5.7% HoH). FY25 guidance will be released once the visibility of business environment improves. The Mid-Term Plan [MTP] and capital allocation policy will also be reviewed.
