YAMAZAWA CO.,LTD., The Current Fiscal Year Net Income Revised Downward to a Loss

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Thu Oct 10, 2024 3:00 pm JST Earnings

9993 YAMAZAWA CO.,LTD. 【J-GAAP】

Earnings Report

YAMAZAWA CO.,LTD. <9993> [TSE-S] announced its financial results after the market closed on October 10th (15:00). The consolidated net income/loss for the cumulative second quarter of the fiscal year ending February 2025 (March to August) turned into a loss of 1.05 billion yen (compared to a profit of 1.02 billion yen in the same period last year), reversing from the forecast of a 120 million yen to a loss.

In addition, the full-year consolidated net income/loss has been revised downward from an expected profit of 120 million yen to a loss of 1.7 billion yen (compared to a profit of 451 million yen in the previous period), turning to a loss outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net loss for the September to February period (second half) is expected to expand to a loss of 644 million yen (compared to a loss of 573 million yen in the same period last year).

In the most recent three-month period, from June to August (2Q), the consolidated net income/loss turned to a loss of 870 million yen (compared to a profit of 348 million yen in the same period last year). The operating profit/loss margin worsened from 1.7% in the same period last year to -1.1%.

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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	50,309	683	726	433	39.8	78.2	Oct 12, 2022	J-GAAP
Mar - Aug, 2023	50,650	532	570	1,024	95.1	84.2	Oct 11, 2023	J-GAAP
Mar - Aug, 2024	50,958	-682	-275	-1,056	-98.0	ー	Oct 10, 2024	J-GAAP
YoY	+0.6%	－	－	－	－

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	51,600	300	450	120	11.1	13.50	Apr 15, 2024	J-GAAP
Mar - Aug, 2024 Results	50,958	-682	-275	-1,056	-98.0	13.50	Oct 10, 2024	J-GAAP
Revision Rate	-1.2%	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Prev	102,700	450	650	120	11.1	27	Apr 15, 2024	J-GAAP
Feb, 2025 New	101,500	-800	-500	-1,700	-157.7	27	Oct 10, 2024	J-GAAP
Revision Rate	-1.2%	－	－	－	－

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	51,241	93	107	-573	-53.3	13.50	Apr 15, 2024	J-GAAP
Sep - Feb, 2024 Guidance	50,542	-118	-225	-644	-59.7	13.50	Oct 10, 2024	J-GAAP
YoY	-1.4%	－	－	-12.4%	-12.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	99,457	710	928	205	18.9	27	Apr 14, 2023	J-GAAP
Feb, 2024	101,891	625	677	451	41.9	27	Apr 15, 2024	J-GAAP
Feb, 2025 Guidance	101,500	-800	-500	-1,700	-157.7	27	Oct 10, 2024	J-GAAP
YoY	-0.4%	－	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	26,129	454	473	348	32.3	1.7	Oct 11, 2023	J-GAAP
Sep - Nov, 2023	25,272	-91	-86	-98	-9.1	-0.4	Jan 11, 2024	J-GAAP
Dec - Feb, 2023	25,969	184	193	-475	-44.2	0.7	Apr 15, 2024	J-GAAP
Mar - May, 2024	24,969	-408	-223	-186	-17.3	-1.6	Jul 11, 2024	J-GAAP
Jun - Aug, 2024	25,989	-274	-52	-870	-80.7	-1.1	Oct 10, 2024	J-GAAP
YoY	-0.5%	－	－	－	－