Yamatane Corporation, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 3% Decrease

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Fri Nov 8, 2024 1:20 pm JST Earnings

9305 Yamatane Corporation 【J-GAAP】

Earnings Report

Yamatane Corporation <9305> [TSE-P] announced its financial results in the afternoon session on November 8th (13:20). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 4.5% from the same period last year to 1.43 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 6.3%, from the previous forecast of 3.31 billion yen to 3.1 billion yen (compared to 3.18 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 2.6% decrease in profit.

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 decrease by 1.0% from the same period last year to 1.67 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 92.1% from the same period last year, reaching 826 million yen. However, the operating profit margin worsened from 6.5% in the same period last year to 5.0%.

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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	25,440	1,948	1,909	1,135	110.0	54.5	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	27,663	1,831	1,497	1,416	137.2	47.0	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	38,273	1,489	1,430	975	95.0	46.1	Nov 8, 2024	J-GAAP
YoY	+38.4%	-18.7%	-4.5%	-31.1%	-30.8%

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	37,500	1,440	1,390	810	78.5	40	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	38,273	1,489	1,430	975	95.0	40	Nov 8, 2024	J-GAAP
Revision Rate	+2.1%	+3.4%	+2.9%	+20.4%	+21.0%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	76,500	3,500	3,310	2,640	263.1	90	May 10, 2024	J-GAAP
Mar, 2025 New	81,300	3,230	3,100	2,640	263.1	90	Nov 8, 2024	J-GAAP
Revision Rate	+6.3%	-7.7%	-6.3%	0.0%	0.0%

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	36,849	1,658	1,687	1,026	99.8	40	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	43,027	1,741	1,670	1,665	165.9	50	Nov 8, 2024	J-GAAP
YoY	+16.8%	+5.0%	-1.0%	+62.3%	+66.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	51,090	3,588	3,501	2,150	208.3	56	May 12, 2023	J-GAAP
Mar, 2024	64,512	3,489	3,184	2,442	237.5	65	May 10, 2024	J-GAAP
Mar, 2025 Guidance	81,300	3,230	3,100	2,640	263.1	90	Nov 8, 2024	J-GAAP
YoY	+26.0%	-7.4%	-2.6%	+8.1%	+10.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	13,859	898	430	183	17.7	6.5	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	18,351	867	963	604	58.6	4.7	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	18,498	791	724	422	41.0	4.3	May 10, 2024	J-GAAP
Apr - Jun, 2024	18,660	500	604	539	52.7	2.7	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	19,613	989	826	436	42.5	5.0	Nov 8, 2024	J-GAAP
YoY	+41.5%	+10.1%	+92.1%	+138.3%	+139.6%