YAMATO CORPORATION, First Half Ordinary Profit Increases by 5.4 times, July-September Ordinary Profit Turns to Profit

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Tue Nov 5, 2024 3:00 pm JST Earnings

1967 YAMATO CORPORATION 【J-GAAP】

Earnings Report

YAMATO CORPORATION <1967> [TSE-S] announced its financial results in the afternoon session on November 5th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 5.4 times that of the same period last year, reaching 1.99 billion yen. The progress rate against the 3.3 billion yen full-year plan was 60.4%, also surpassing the five-year average of 42.6%.

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 drop by 33.5% from the same period last year to 1.3 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a profit of profit of 1.1 billion yen (compared to a loss of 233 million yen in the same period last year). The operating profit/loss margin drastically improved from -4.0% in the same period last year to 7.4%.

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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	21,135	1,011	1,216	788	30.8	48.3	Oct 26, 2022	J-GAAP
Apr - Sep, 2023	20,550	91	367	208	8.3	15.7	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	24,487	1,717	1,994	1,351	54.3	60.4	Nov 5, 2024	J-GAAP
YoY	+19.2%	+1,786.8%	+443.3%	+549.5%	+557.8%

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	24,480	1,710	1,990	1,350	54.4	0	Nov 1, 2024	J-GAAP
Apr - Sep, 2024 Results	24,487	1,717	1,994	1,351	54.3	0	Nov 5, 2024	J-GAAP
Revision Rate	+0.0%	+0.4%	+0.2%	+0.1%	-0.3%

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	27,746	1,732	1,964	1,271	50.4	27	May 7, 2024	J-GAAP
Oct - Mar, 2024 Guidance	26,513	1,383	1,306	1,049	42.3	35	Nov 5, 2024	J-GAAP
YoY	-4.4%	-20.2%	-33.5%	-17.5%	-16.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	44,500	2,033	2,517	1,866	72.9	25	May 8, 2023	J-GAAP
Mar, 2024	48,296	1,823	2,331	1,479	58.7	27	May 7, 2024	J-GAAP
Mar, 2025 Guidance	51,000	3,100	3,300	2,400	96.8	35	May 7, 2024	J-GAAP
YoY	+5.6%	+70.0%	+41.6%	+62.3%	+65.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	9,940	-401	-233	-180	-7.1	-4.0	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	13,824	550	678	111	4.4	4.0	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	13,922	1,182	1,286	1,160	46.0	8.5	May 7, 2024	J-GAAP
Apr - Jun, 2024	11,962	789	891	608	24.3	6.6	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	12,525	928	1,103	743	29.9	7.4	Nov 5, 2024	J-GAAP
YoY	+26.0%	－	－	－	－