Yasuda Logistics corporation, First Half Ordinary Profit Unexpectedly Revised Upward by 13%

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Fri Nov 1, 2024 3:00 pm JST Earnings

9324 Yasuda Logistics corporation 【J-GAAP】

Earnings Report

Yasuda Logistics corporation <9324> [TSE-P] announced its financial results after the market closed on November 1st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 13.2% from the same period last year, reaching 2.1 billion yen, resulting in an increase in profits compared to the previous forecast of a 11.4% decrease.

The progress rate against the 4 billion yen full-year plan was 52.7%, almost the same as the five-year average of 50.4%.

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 decrease by 9.4% from the same period last year to 1.89 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 19.9% from the same period last year, reaching 1.38 billion yen. The operating profit margin improved from 3.7% in the same period last year to 4.7%.

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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	29,589	1,229	2,150	1,409	48.7	56.9	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	32,896	1,118	1,863	1,176	40.6	47.2	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	36,162	1,434	2,108	1,336	46.2	52.7	Nov 1, 2024	J-GAAP
YoY	+9.9%	+28.3%	+13.2%	+13.6%	+13.7%

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	35,000	1,000	1,650	1,000	34.5	15	May 7, 2024	J-GAAP
Apr - Sep, 2024 Results	36,162	1,434	2,108	1,336	46.2	15	Nov 1, 2024	J-GAAP
Revision Rate	+3.3%	+43.4%	+27.8%	+33.6%	+33.7%

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	34,488	1,524	2,088	1,126	38.9	14.50	May 7, 2024	J-GAAP
Oct - Mar, 2024 Guidance	35,838	1,366	1,892	1,214	41.9	15	Nov 1, 2024	J-GAAP
YoY	+3.9%	-10.4%	-9.4%	+7.8%	+7.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	59,756	2,534	3,776	2,245	77.5	26	May 8, 2023	J-GAAP
Mar, 2024	67,384	2,642	3,951	2,302	79.5	28	May 7, 2024	J-GAAP
Mar, 2025 Guidance	72,000	2,800	4,000	2,550	88.0	30	May 7, 2024	J-GAAP
YoY	+6.9%	+6.0%	+1.2%	+10.8%	+10.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	16,530	605	1,153	712	24.6	3.7	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	17,365	983	914	528	18.2	5.7	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	17,123	541	1,174	598	20.7	3.2	May 7, 2024	J-GAAP
Apr - Jun, 2024	17,648	569	726	406	14.0	3.2	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	18,514	865	1,382	930	32.1	4.7	Nov 1, 2024	J-GAAP
YoY	+12.0%	+43.0%	+19.9%	+30.6%	+30.8%