Presentation Materials on Financial Results for the Interim Period of the Fiscal Year Ending January 2025 | DAIWA CYCLE CO.,LTD. (5888) timely disclosure

Worth reading

63In focus

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Direction

Improvement

Direction inferred from the company’s description.

Scale

257

¥ million (increase in full-year operating income forecast)

Wording

Conditional

How definitive the wording is.

Contents of this document

Financial results presentation2025年1月期中間期11 items taken from the company’s own explanation

Financial Results Figures (The key points of this material are explained below)

Net Sales¥9,562 million+20.6%

Operating profit¥811 million+63.7%

Ordinary income¥813 million+59.2%

Net income¥509 million+52.8%

Selling, general and administrative expenses¥3,313 million

Gross Profit Margin

Rate43.1%

Year on year against the same period last year+0.1pt

Operating profit margin

Rate8.5%

Year on year against the same period last year+2.2pt

Results for the three months of the current quarter

第2四半期（5月～7月）

Net Sales

¥4,245 million

Operating profit

¥553 million

Year on year against the same period last year

Net Sales+20.1%

Operating profit+102.3%

Full-year earnings forecast

Net Sales

¥17,745 million

Operating profit

¥1,085 million

Ordinary income

¥1,091 million

Net income for the current fiscal year

¥659 million

Number of stores

136 stores

Number of company-operated stores

130 stores

Progress against full-year forecast　通期の予想に対して、いまどこまで進んだかの割合です。

前回発表予想ベース

Net Sales56.1%

Operating profit98.1%

Ordinary income96.7%

Interim net income100.8%

What the company explained in this material

Self-assessment against the planThe company's self-assessment against its own plan.

中間期は順調に推移／前回発表予想を大きく上回った

Key points of the Q&AKey questions raised by investors at the briefing and the company's answers

上方修正の理由好天と上場記念感謝祭の好調により上期実績が当初予想を上回った
下期の増益率が上期より低い理由前年下期にはコロナ禍からの回復がすでに進んでおり、出店計画減少も影響
為替影響PB商品のドル・元仕入れにより円安は原価上昇要因だが、過去には値上げで対応
粗利益率の四半期差1Qは自転車車体の販売割合が高く、粗利益率が低下
出店計画見直し居抜き物件の成約数・成約率が計画を下回ったため
株主還元年間配当性向20%を目途とし、株主優待は実施予定なし

Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.

Revenue increase
人件費増加（出店に伴う人員増、採用コスト増、給与UP）
地代家賃増加（新店10店増加）
広告宣伝費減少（出店数の減少）
租税公課増加（外形標準課税対象法人化）

The company identifies the factors but does not state the amount attributable to each one.

Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.

Assumed Exchange Rates¥150 per US dollar
下期出店計画7 stores

New initiatives

PB自転車3車種を新発売（KNOSEL-S、Lumina GC、Fit’z+）
店舗開発体制を強化し、居抜き物件の案件情報獲得から交渉開始までの速度を向上

Key KPIsA metric the company considers important as a management benchmark.

Private-label sales ratio34.4%
Year on year against the same period last year-0.1pt
Existing-store revenue
Value
107.8%, 123.6%, 104.0%, 115.8%, 127.5%, 102.2%
Same-store customer traffic
Value
102.3%, 107.0%, 99.2%, 103.5%, 110.8%, 97.9%
Same-store spend per customer
Value
105.4%, 115.6%, 104.8%, 111.9%, 115.1%, 104.4%

Unit price and quantity metricsThese figures show sales broken down by price and volume.

Same-store customer traffic2月102.3%、3月107.0%、4月99.2%、5月103.5%、6月110.8%、7月97.9%（前年同月比）

Same-store spend per customer2月105.4%、3月115.6%、4月104.8%、5月111.9%、6月115.1%、7月104.4%（前年同月比）

Market Size / Share

3,700億円程度

Sales mix of electric-assist bicycles当社59%、業界全体39%

Number of stores and locations

End of period129店（直営123店、FC6店、2024年7月末）

Openings and closures during the period出店5店、退店0店。第2四半期は3店出店

Number of employees

Number of Employees698名（2024年1月末時点）

Changes during the period and hiring plan出店に伴う人員増及び採用コスト増

Payout ratio

年間配当性向20%を目途

Contents of this document
Item	Details
Document type	Financial results presentation
Fiscal Period Covered	2025年1月期中間期
Net Sales	¥9,562 million (YoY +20.6%)
Operating profit	¥811 million (YoY +63.7%)
Ordinary income	¥813 million (YoY +59.2%)
Net income	¥509 million (YoY +52.8%)
Gross Profit Margin	Rate 43.1% / Year on year against the same period last year +0.1pt
Operating profit margin	Rate 8.5% / Year on year against the same period last year +2.2pt
Selling, general and administrative expenses	¥3,313 million
Results for the three months of the current quarter	第2四半期（5月～7月） Net Sales ¥4,245 million / Operating profit ¥553 million / Year on year against the same period last year Net Sales +20.1% / Operating profit +102.3%
Full-year earnings forecast	Net Sales ¥17,745 million / Operating profit ¥1,085 million / Ordinary income ¥1,091 million / Net income for the current fiscal year ¥659 million / Number of stores 136 stores / Number of company-operated stores 130 stores
Progress against full-year forecast	前回発表予想ベース Net Sales 56.1% / Operating profit 98.1% / Ordinary income 96.7% / Interim net income 100.8%
Self-assessment against the plan	中間期は順調に推移／前回発表予想を大きく上回った
Breakdown of Factors Affecting the Change	Factors Revenue increase / Amount Not disclosed, Factors 人件費増加（出店に伴う人員増、採用コスト増、給与UP） / Amount Not disclosed, Factors 地代家賃増加（新店10店増加） / Amount Not disclosed, Factors 広告宣伝費減少（出店数の減少） / Amount Not disclosed, Factors 租税公課増加（外形標準課税対象法人化） / Amount Not disclosed
Key KPIs	Indicator name Private-label sales ratio / Value 34.4% / Year on year against the same period last year -0.1pt, Indicator name Existing-store revenue / Value 107.8%, 123.6%, 104.0%, 115.8%, 127.5%, 102.2% / Year on year against the same period last year Not disclosed, Indicator name Same-store customer traffic / Value 102.3%, 107.0%, 99.2%, 103.5%, 110.8%, 97.9% / Year on year against the same period last year Not disclosed, Indicator name Same-store spend per customer / Value 105.4%, 115.6%, 104.8%, 111.9%, 115.1%, 104.4% / Year on year against the same period last year Not disclosed
Unit price and quantity metrics	Same-store customer traffic 2月102.3%、3月107.0%、4月99.2%、5月103.5%、6月110.8%、7月97.9%（前年同月比） / Same-store spend per customer 2月105.4%、3月115.6%、4月104.8%、5月111.9%、6月115.1%、7月104.4%（前年同月比）
Number of stores and locations	End of period 129店（直営123店、FC6店、2024年7月末） / Openings and closures during the period 出店5店、退店0店。第2四半期は3店出店
Number of employees	Number of Employees 698名（2024年1月末時点） / Changes during the period and hiring plan 出店に伴う人員増及び採用コスト増 / Hiring plan Not disclosed
Assumptions Underlying the Business Outlook	Item Assumed Exchange Rates / Value ¥150 per US dollar, Item 下期出店計画 / Value 7 stores
Payout ratio	年間配当性向20%を目途
Market Size / Share	Market Size 3,700億円程度 / Share Not disclosed / Sales mix of electric-assist bicycles 当社59%、業界全体39%
Key points of the Q&A	上方修正の理由：好天と上場記念感謝祭の好調により上期実績が当初予想を上回った, 下期の増益率が上期より低い理由：前年下期にはコロナ禍からの回復がすでに進んでおり、出店計画減少も影響, 為替影響：PB商品のドル・元仕入れにより円安は原価上昇要因だが、過去には値上げで対応, 粗利益率の四半期差：1Qは自転車車体の販売割合が高く、粗利益率が低下, 出店計画見直し：居抜き物件の成約数・成約率が計画を下回ったため, 株主還元：年間配当性向20%を目途とし、株主優待は実施予定なし
New initiatives	PB自転車3車種を新発売（KNOSEL-S、Lumina GC、Fit’z+）, 店舗開発体制を強化し、居抜き物件の案件情報獲得から交渉開始までの速度を向上

Items this document does not state (8)

Segment resultsRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual DividendAcquisition of treasury sharesCapital expendituresOrders received and order backlog

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

上期は好天、上場記念感謝祭、電動アシスト車の販売好調により当初予想を上回った。下期の出店計画は、居抜き物件の成約数が計画を下回ったため見直した。

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