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YAMAZAKI BAKING CO., LTD., July-September (3Q) Ordinary Profit Decreases by 10%

Tue Oct 29, 2024 3:00 pm JST Earnings

2212 YAMAZAKI BAKING CO., LTD. 【J-GAAP】

Earnings Report

YAMAZAKI BAKING CO., LTD. <2212> [TSE-P] announced its financial results after the market closed on October 29th (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 41.2 billion yen, an increase of 34.0% compared to the same period last year. However, The progress rate against the 59 billion yen full-year plan was 70.0%, almost the same as the five-year average of 69.6%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to grow by 20.4% from the same period last year, reaching 17.7 billion yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit decreased to 7.26 billion yen, a 9.9% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 2.6% in the same period last year to 2.6%.

Kabutan News

Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Sep, 2022 792,128 16,025 19,854 9,946 47.5 76.0 Oct 25, 2022 J-GAAP
Jan - Sep, 2023 846,225 27,868 30,826 18,868 91.4 67.7 Oct 25, 2023 J-GAAP
Jan - Sep, 2024 919,593 38,785 41,296 26,806 132.4 70.0 Oct 29, 2024 J-GAAP
YoY +8.7% +39.2% +34.0% +42.1% +44.9%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 611,618 21,352 22,770 16,113 78.1 25 Feb 14, 2024 J-GAAP
Jul - Dec, 2024 Guidance 616,253 23,471 24,972 14,931 75.1 38 Jul 31, 2024 J-GAAP
YoY +0.8% +9.9% +9.7% -7.3% -3.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 1,077,009 22,032 26,127 12,368 59.1 22 Feb 14, 2023 J-GAAP
Dec, 2023 1,175,562 41,962 45,526 30,168 146.2 25 Feb 14, 2024 J-GAAP
Dec, 2024 Guidance 1,234,000 54,500 59,000 36,500 183.5 38 Jul 31, 2024 J-GAAP
YoY +5.0% +29.9% +29.6% +21.0% +25.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 282,281 7,258 8,070 4,813 23.3 2.6 Oct 25, 2023 J-GAAP
Oct - Dec, 2023 329,337 14,094 14,700 11,300 54.8 4.3 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 306,658 16,512 17,382 10,944 53.6 5.4 Apr 26, 2024 J-GAAP
Apr - Jun, 2024 311,089 14,517 16,646 10,625 52.2 4.7 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 301,846 7,756 7,268 5,237 25.9 2.6 Oct 29, 2024 J-GAAP
YoY +6.9% +6.9% -9.9% +8.8% +10.9%

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