Yokohama Maruuo Co., Ltd, July-September (2Q) Ordinary Profit Decreases by 45%

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Tue Nov 5, 2024 3:30 pm JST Earnings

8045 Yokohama Maruuo Co., Ltd 【J-GAAP】

Earnings Report

Yokohama Maruuo Co., Ltd <8045> [TSE-S] announced its financial results after the market closed on November 5th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 316 million yen, an increase of 32.2% compared to the same period last year. The progress rate against the 650 million yen full-year plan was 48.6%, exceeding the five-year average of 39.9%.

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 nearly flat at 334 million yen, down 0.6% from the same period last year.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 28 million yen, a 45.1% decrease compared to the same period last year. The operating profit margin worsened from 0.6% in the same period last year to 0.2%.

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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	18,298	-82	123	99	15.6	27.3	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	18,698	98	239	167	26.3	41.6	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	18,906	136	316	231	36.3	48.6	Nov 5, 2024	J-GAAP
YoY	+1.1%	+38.8%	+32.2%	+38.3%	+38.4%

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	ー	ー	ー	ー	－	－	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	18,906	136	316	231	36.3	－	Nov 5, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	19,916	179	336	242	38.1	26	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	20,494	214	334	189	29.7	26	Nov 5, 2024	J-GAAP
YoY	+2.9%	+19.6%	-0.6%	-21.9%	-22.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	40,670	122	450	377	59.3	22	May 12, 2023	J-GAAP
Mar, 2024	38,614	277	575	409	64.3	26	May 14, 2024	J-GAAP
Mar, 2025 Guidance	39,400	350	650	420	66.0	26	May 14, 2024	J-GAAP
YoY	+2.0%	+26.4%	+13.0%	+2.7%	+2.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	9,562	61	51	55	8.7	0.6	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	11,076	146	304	233	36.7	1.3	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	8,840	33	32	9	1.4	0.4	May 14, 2024	J-GAAP
Apr - Jun, 2024	9,188	112	288	205	32.3	1.2	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	9,718	24	28	26	4.1	0.2	Nov 5, 2024	J-GAAP
YoY	+1.6%	-60.7%	-45.1%	-52.7%	-52.7%