YAMAX Corp., The Current Fiscal Year Ordinary Profit Revised Upward by 25%, Adds to Record High Profit Forecast, Dividend Revised Upward by 11 yen

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Thu Nov 7, 2024 2:00 pm JST Earnings

5285 YAMAX Corp. 【J-GAAP】

Earnings Report

YAMAX Corp. <5285> [TSE-S] announced its financial results in the afternoon session on November 7th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 1.19 billion yen, an increase of 71.5% compared to the same period last year, exceeded the previous forecast of 850 million yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 25.0%, from the previous forecast of 2 billion yen to 2.5 billion yen (compared to 1.83 billion yen in the previous period), increasing the growth rate from 9.1% to 36.3%, further surpassing the previous forecast of record-high profits for two consecutive terms.

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 grow by 14.8% from the same period last year, reaching 1.3 billion yen.

In light of the strong performance, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 42 yen to 53 yen (compared to 40 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 14.8% from the same period last year, reaching 566 million yen. The operating profit margin rose from 10.9% in the same period last year to 11.2%.

Kabutan News

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	7,487	403	410	203	21.2	49.4	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	8,582	684	695	452	46.9	37.9	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	10,009	1,203	1,192	815	84.5	47.7	Nov 7, 2024	J-GAAP
YoY	+16.6%	+75.9%	+71.5%	+80.3%	+80.0%

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	9,600	850	850	570	59.2	0	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	10,009	1,203	1,192	815	84.5	0	Nov 7, 2024	J-GAAP
Revision Rate	+4.3%	+41.5%	+40.2%	+43.0%	+42.8%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	21,500	2,000	2,000	1,350	139.3	42	May 9, 2024	J-GAAP
Mar, 2025 New	22,400	2,500	2,500	1,730	178.5	53	Nov 7, 2024	J-GAAP
Revision Rate	+4.2%	+25.0%	+25.0%	+28.1%	+28.2%

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	12,225	1,140	1,139	845	87.7	40	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	12,391	1,297	1,308	915	94.4	53	Nov 7, 2024	J-GAAP
YoY	+1.4%	+13.8%	+14.8%	+8.3%	+7.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	18,031	833	830	540	56.2	16	May 12, 2023	J-GAAP
Mar, 2024	20,807	1,824	1,834	1,297	134.7	40	May 9, 2024	J-GAAP
Mar, 2025 Guidance	22,400	2,500	2,500	1,730	178.5	53	Nov 7, 2024	J-GAAP
YoY	+7.7%	+37.1%	+36.3%	+33.4%	+32.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,468	486	493	322	33.4	10.9	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	5,963	702	701	473	49.1	11.8	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	6,262	438	438	372	38.6	7.0	May 9, 2024	J-GAAP
Apr - Jun, 2024	4,966	638	626	433	45.0	12.8	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	5,043	565	566	382	39.6	11.2	Nov 7, 2024	J-GAAP
YoY	+12.9%	+16.3%	+14.8%	+18.6%	+18.5%