YOSHINOYA HOLDINGS CO.,LTD., First Half Ordinary Profit Decreases by 9%

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Wed Oct 9, 2024 4:00 pm JST Earnings

9861 YOSHINOYA HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

YOSHINOYA HOLDINGS CO.,LTD. <9861> [TSE-P] announced its financial results after the market closed on October 9th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) decreased by 8.7% from the same period last year to 3.96 billion yen. However, The progress rate against the 7.4 billion yen full-year plan was 53.6%, almost the same as the five-year average of 56.5%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to decrease by 19.4% from the same period last year to 3.43 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit amounted to 2.73 billion yen, an increase of 0.9% compared to the same period last year. The operating profit margin remained almost flat, changing from 5.4% in the same period last year to 5.5%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Mar - Aug, 2022	81,811	1,062	4,760	4,695	72.6	54.5	Oct 12, 2022	J-GAAP
Mar - Aug, 2023	91,654	3,986	4,347	2,879	44.5	50.5	Oct 11, 2023	J-GAAP
Mar - Aug, 2024	99,313	3,713	3,968	2,213	34.2	53.6	Oct 9, 2024	J-GAAP
YoY	+8.4%	-6.8%	-8.7%	-23.1%	-23.1%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar - Aug, 2024 Guidance	100,000	3,500	3,700	2,000	30.9	10	Apr 10, 2024	J-GAAP
Mar - Aug, 2024 Results	99,313	3,713	3,968	2,213	34.2	10	Oct 9, 2024	J-GAAP
Revision Rate	-0.7%	+6.1%	+7.2%	+10.7%	+10.7%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	95,818	3,987	4,259	2,725	42.1	10	Apr 10, 2024	J-GAAP
Sep - Feb, 2024 Guidance	103,687	3,287	3,432	1,887	29.2	10	Oct 9, 2024	J-GAAP
YoY	+8.2%	-17.6%	-19.4%	-30.8%	-30.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	168,099	3,434	8,741	7,234	111.9	10	Apr 12, 2023	J-GAAP
Feb, 2024	187,472	7,973	8,606	5,604	86.6	18	Apr 10, 2024	J-GAAP
Feb, 2025 Guidance	203,000	7,000	7,400	4,100	63.4	20	Apr 10, 2024	J-GAAP
YoY	+8.3%	-12.2%	-14.0%	-26.8%	-26.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	47,376	2,552	2,705	1,855	28.7	5.4	Oct 11, 2023	J-GAAP
Sep - Nov, 2023	47,238	2,115	2,226	1,459	22.6	4.5	Jan 11, 2024	J-GAAP
Dec - Feb, 2023	48,580	1,872	2,033	1,266	19.6	3.9	Apr 10, 2024	J-GAAP
Mar - May, 2024	47,542	880	1,238	681	10.5	1.9	Jul 10, 2024	J-GAAP
Jun - Aug, 2024	51,771	2,833	2,730	1,532	23.7	5.5	Oct 9, 2024	J-GAAP
YoY	+9.3%	+11.0%	+0.9%	-17.4%	-17.4%