YELLOW HAT LTD., First Half Ordinary Profit Revised Downward to an Unexpected 2%Decrease

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Thu Oct 31, 2024 3:00 pm JST Earnings

9882 YELLOW HAT LTD. 【J-GAAP】

Earnings Report

YELLOW HAT LTD. <9882> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 5.92 billion yen, a 1.5% decrease compared to the same period last year, resulting in a decrease in profits compared to the previous forecast of a 1.5% increase.

The progress rate against the 16.4 billion yen full-year plan was 36.1%, also falling below the five-year average of 39.7%.

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 October to March period (second half) is expected to grow by 5.3% from the same period last year, reaching 10.4 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 2.45 billion yen, an increase of 0.5% compared to the same period last year. The operating profit margin improved from 6.0% in the same period last year to 6.5%.

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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
Apr - Sep, 2022	66,392	5,849	6,262	4,216	45.7	38.4	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	66,975	5,235	6,012	4,067	44.0	37.7	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	69,291	5,353	5,920	3,969	42.9	36.1	Oct 31, 2024	J-GAAP
YoY	+3.5%	+2.3%	-1.5%	-2.4%	-2.5%

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	68,000	5,500	6,100	4,200	45.4	17.50	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	69,291	5,353	5,920	3,969	42.9	17.50	Oct 31, 2024	J-GAAP
Revision Rate	+1.9%	-2.7%	-3.0%	-5.5%	-5.5%

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	79,666	9,240	9,952	6,192	67.0	16.50	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	80,709	9,647	10,480	6,531	73.7	17.50	Oct 31, 2024	J-GAAP
YoY	+1.3%	+4.4%	+5.3%	+5.5%	+10.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	147,157	15,250	16,305	10,665	115.5	31	May 9, 2023	J-GAAP
Mar, 2024	146,641	14,475	15,964	10,259	111.0	33	May 10, 2024	J-GAAP
Mar, 2025 Guidance	150,000	15,000	16,400	10,500	118.5	35	May 10, 2024	J-GAAP
YoY	+2.3%	+3.6%	+2.7%	+2.3%	+6.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	32,672	1,967	2,444	1,654	17.9	6.0	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	46,579	6,731	7,178	4,909	53.1	14.5	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	33,087	2,509	2,774	1,283	13.9	7.6	May 10, 2024	J-GAAP
Apr - Jun, 2024	34,672	3,117	3,463	2,256	24.4	9.0	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	34,619	2,236	2,457	1,713	18.5	6.5	Oct 31, 2024	J-GAAP
YoY	+6.0%	+13.7%	+0.5%	+3.6%	+3.5%