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YAMATO KOGYO CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 7%

Thu Oct 31, 2024 1:00 pm JST Earnings

5444 YAMATO KOGYO CO.,LTD. 【J-GAAP】

Earnings Report

YAMATO KOGYO CO.,LTD. <5444> [TSE-P] announced its financial results in the afternoon session on October 31st (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 17.3% from the same period last year to 41.8 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 7.4%, from the previous forecast of 81 billion yen to 75 billion yen (compared to 99.2 billion yen in the previous period), leading to an increase in the profit decline rate from 18.4% to 24.4%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to drop by 31.8% from the same period last year to 33.1 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 17.1 billion yen, a 31.9% decrease compared to the same period last year. The operating profit margin worsened from 9.9% in the same period last year to 7.8%.

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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
Apr - Sep, 2022 94,773 9,417 51,361 37,875 594.7 56.8 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 80,373 7,854 50,621 36,342 570.5 51.0 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 78,359 4,300 41,172 28,253 443.5 54.9 Oct 31, 2024 J-GAAP
YoY -2.5% -45.3% -18.7% -22.3% -22.3%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance 79,500 4,500 43,000 29,500 463.0 200 Jul 31, 2024 J-GAAP
Apr - Sep, 2024 Results 78,359 4,300 41,172 28,253 443.5 200 Oct 31, 2024 J-GAAP
Revision Rate -1.4% -4.4% -4.3% -4.2% -4.2%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 178,000 11,000 81,000 57,000 911.5 400 Jul 31, 2024 J-GAAP
Mar, 2025 New 170,000 11,000 75,000 52,500 839.5 400 Oct 31, 2024 J-GAAP
Revision Rate -4.5% 0.0% -7.4% -7.9% -7.9%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2023 83,106 9,428 48,602 33,676 528.7 250 Apr 30, 2024 J-GAAP
Oct - Mar, 2024 Guidance 91,641 6,700 33,828 24,247 387.7 200 Oct 31, 2024 J-GAAP
YoY +10.3% -28.9% -30.4% -28.0% -26.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 180,438 16,813 90,494 65,317 1,025.5 300 Apr 28, 2023 J-GAAP
Mar, 2024 163,479 17,282 99,223 70,018 1,099.2 400 Apr 30, 2024 J-GAAP
Mar, 2025 Guidance 170,000 11,000 75,000 52,500 839.5 400 Oct 31, 2024 J-GAAP
YoY +4.0% -36.3% -24.4% -25.0% -23.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 37,846 3,739 25,221 18,031 283.1 9.9 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 41,832 4,919 22,730 15,519 243.6 11.8 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 41,274 4,509 25,872 18,157 285.0 10.9 Apr 30, 2024 J-GAAP
Apr - Jun, 2024 34,050 1,560 24,689 17,574 275.9 4.6 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 44,309 2,740 16,483 10,679 167.6 6.2 Oct 31, 2024 J-GAAP
YoY +17.1% -26.7% -34.6% -40.8% -40.8%

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