Disco : Consolidated Financial Results for the Third Quarter of Fiscal Year 2024

Published January 23, 2025 at 7:11 a.m. UTC

Source: MarketScreener

Unaudited translation, provided for reference only

DISCO Corporation (FY2024 3Q)

January 23, 2025

Consolidated Financial Results for the Third Quarter of Fiscal Year 2024

Company name:	DISCO Corporation
Stock code number:	6146 (TSE Prime Market)
URL:		http://www.disco.co.jp
Notes:	1. The accompanying financial statements have been prepared in accordance with accounting
	principles and practices generally accepted in Japan.

2. Amounts are rounded down to the nearest million yen.

1. Consolidated results for FY2024 3Q (April 1, 2024, through December 31, 2024)

1) Consolidated operating results		(Millions of yen)
		Nine months ended

	December 31, 2023	December 31, 2024	YoY (%)

Net sales		203,255	272,596	34.1
Operating income		75,363	115,098	52.7
Ordinary income		75,727	117,080	54.6
Net income		48,780	85,252	74.8
Net income per share (yen)		450.30	786.74	-
Comprehensive income: Nine months ended December 31, 2024: 85,690 million yen, 63.4%
Nine months ended December 31, 2023:	52,452 million yen, (14.3)%

2) Consolidated financial position			(Millions of yen)
				As of	As of
				March 31, 2024	December 31, 2024

Total assets				556,058	628,786
Net assets				406,560	454,093
Equity ratio (%)				72.9%	72.0%

Equity:	452,558	million yen	(as of	December 31, 2024)
	405,228	million yen	(as of	March 31, 2024)

2. Dividends

				(yen)
	Fiscal Year 2023	Fiscal Year 2024	Fiscal Year 2024
	Actual		Forecast


1Q-end dividend per share (yen)	－		－
2Q-end dividend per share (yen)	76.00		124.00
3Q-end dividend per share (yen)	－		－

Year-end dividend per share (yen)	231.00			245.00
Annual dividend per share (yen)	307.00			369.00

Note: Revision of dividends forecast during this period: Yes

*For the revised dividends forecast, refer to the "Business and Dividend Forecast Notification" announced on January 23, 2025.

3. Consolidated forecasts for FY2024 (April 1, 2024, through March 31, 2025)

(Millions of yen)

	Year ending	YoY (%)
	March 31, 2025

Net sales	373,000	21.3
Operating income	152,800	25.8
Ordinary income	154,900	26.6
Net income	112,900	34.1
Net income per share (yen)	1,041.80	-


Shipment figures	405,100	26.8

Note: Revision of earnings forecast during this period: Yes

*For the revised consolidated forecasts, refer to the "Business and Dividend Forecast Notification" announced on January 23, 2025.

Unaudited translation, provided for reference only

DISCO Corporation (FY2024 3Q)

4. Other

Important changes in subsidiaries: None
Changes in principles, procedures, or display of accounting method concerning consolidated statement policies.
1. Changes in accounting policies along with changes in accounting standards: None
2. Other changes: None
Number of shares outstanding (common stock)

(1) Number of shares issued (including treasury stocks)

	As of December 31, 2024:	108,386,266	shares
	As of March 31, 2024:	108,364,683	shares
(2)	Number of shares of treasury stock
	As of December 31, 2024:	15,922	shares
	As of March 31, 2024:	15,837	shares
(3)	Average number of shares
	As of December 31, 2024:	108,362,219	shares
	As of December 31, 2023:	108,327,429	shares

Explanation regarding appropriate use of earnings forecast:

The performance forecasts and estimates provided in this Financial Review are based on certain assumptions judged to be reasonable at the present time in light of information currently available. Consequently, actual operating results may differ substantially from the projections in the Financial Review.

Reference: non-consolidated forecasts for FY2024 (April 1, 2024, through March 31, 2025)

(Millions of yen)

	Year ending	YoY (%)
	March 31, 2025

Net sales	313,800	22.4
Operating income	131,800	28.4
Ordinary income	144,800	19.4
Net income	108,300	24.4
Net income per share (yen)	999.35	-

Note: Revision of earnings forecast during this period: Yes

*For the revised non-consolidated forecasts, refer to the "Business and Dividend Forecast Notification" announced on January 23, 2025.

Unaudited translation, provided for reference only		DISCO Corporation (FY2024 3Q)
5. Consolidated quarterly balance sheets
		(Millions of yen)
	As of March 31,	As of December
	2024	31, 2024
Assets
Current assets
Cash and deposits	215,486	263,487
Notes and accounts receivable - trade, and	46,807	42,702
contract assets

Merchandise and finished goods	28,858	40,541
Work in process	35,365	42,872
Raw materials and supplies	50,768	57,444
Other	9,776	9,486
Allowance for doubtful accounts	(116)	(128)
Total current assets	386,945	456,405
Non-current assets
Property, plant and equipment
Buildings and structures, net	89,000	88,149
Other, net	58,451	63,538
Total property, plant and equipment	147,451	151,687
Intangible assets	261	244
Investments and other assets	21,399	20,448
Total non-current assets	169,112	172,381
Total assets	556,058	628,786
Liabilities
Current liabilities
Notes and accounts payable - trade	7,748	7,827
Electronically recorded obligations - operating	28,481	33,394
Income taxes payable	19,463	13,099
Contract liabilities	48,467	78,454
Provision for bonuses	31,055	26,345
Other provisions	1,621	2,602
Other	11,877	12,148
Total current liabilities	148,715	173,871
Non-current liabilities	781	821
Total liabilities	149,497	174,692
Net assets
Shareholders' equity
Share capital	21,838	21,956
Capital surplus	23,826	23,944
Retained earnings	346,293	393,080
Treasury shares	(41)	(44)
Total shareholders' equity	391,917	438,936
Accumulated other comprehensive income
Valuation difference on available-for-sale	365	514
Foreign currency translation adjustment	12,936	13,107
Remeasurements of defined benefit plans	8	(0)
Total accumulated other comprehensive income	13,310	13,621
Share acquisition rights	1,136	1,213
Non-controlling interests	195	322
Total net assets	406,560	454,093
Total liabilities and net assets	556,058	628,786

Unaudited translation, provided for reference only		DISCO Corporation (FY2024 3Q)
6. Consolidated quarterly statement of (comprehensive) income
		(Millions of yen)
	Nine months	Nine months
	31-Dec-23	31-Dec-24
Net sales	203,255	272,596
Cost of sales	65,938	79,245
Gross profit	137,317	193,351
Selling, general and administrative expenses	61,953	78,253
Operating profit	75,363	115,098
Non-operating income
Interest income	58	37
Share of profit of entities accounted for using equity	74	235
Foreign exchange gains	-	825
Rental income	152	183
Subsidy income	1,007	558
Other	258	188
Total non-operating income	1,552	2,029
Non-operating expenses
Foreign exchange losses	1,149	-
Depreciation	27	31
Other	11	16
Total non-operating expenses	1,188	47
Ordinary profit	75,727	117,080
Extraordinary income
Gain on sale of non-current assets	10	9
Gain on reversal of share acquisition rights	-	6
Total extraordinary income	10	15
Extraordinary losses
Loss on sale and retirement of non-current assets	63	28
Impairment losses	7,530	-
Extra retirement payments	20	16
Demolition expenses	-	409
Total extraordinary losses	7,614	454
Profit before income taxes	68,122	116,641
Income taxes - current	20,236	29,917
Income taxes - deferred	(880)	1,331
Total income taxes	19,355	31,248
Profit	48,767	85,392
Profit attributable to
Profit attributable to owners of parent	48,780	85,252
Profit (loss) attributable to non-controlling interests	(12)	140
Other comprehensive income
Foreign currency translation adjustment	3,382	192
Remeasurements of defined benefit plans, net of tax	20	(9)
Share of other comprehensive income of entities	282	114
accounted for using equity method

Total other comprehensive income	3,685	297
Comprehensive income	52,452	85,690
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	52,450	85,563
Comprehensive income attributable to non-controlling	1	127
interests