TOKYO (dpa-AFX) - Dai Nippon Toryo Co., Ltd. (DNP.F), a paints and coating company, on Friday reported a decline in net profit for the first quarter, partly due to the absence of the gain on sale of shares of subsidiaries recorded in the same period last year.
However, the firm posted a rise in sales due to the new consolidation of Shinto Paint Co., Ltd., despite the persisting impact on sales from the temporary suspension of displaying the JIS mark on some products.
For the three-month period to June 30, Dai Nippon reported a net income of JPY 381 million, or JPY 13.34 per share, less than JPY 1.162 billion, or JPY 40.62 per share, in the same period last year.
Operating income was JPY 705 million, compared with JPY 1.091 billion a year ago. Dai Nippon registered sales of JPY 22.300 billion, up from JPY 17.483 billion in the previous year.
Looking ahead, for the first half and full year, the company has reaffirmed its guidance.
For the first half, the firm still expects a net profit of JPY 1.400 billion, down 48.5% from last year. Income per basic share is still anticipated to be at JPY 49.18. Dai Nippon continues to project first-half sales to be at JPY 45.300 billion, up 25.4% from the prior year.
For the 12-month period to March 2026, Dai Nippon continues to project a net profit of JPY 3.400 billion, down 64% from the previous year. Income per basic share is still anticipated to be at JPY 119.31. Annual sales are still expected to be JPY 92 billion, up 26.9% from last year.
For the full year, the paint maker still aims to pay a total dividend of JPY 58 per share, up from last year's JPY 49 per share.
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