GINZA YAMAGATAYA CO.,LTD., First Half Ordinary Profit Loss Widens

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Mon Nov 11, 2024 3:30 pm JST Earnings

8215 GINZA YAMAGATAYA CO.,LTD. 【J-GAAP】

Earnings Report

GINZA YAMAGATAYA CO.,LTD. <8215> [TSE-S] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to a loss of 120 million yen (compared to a loss of 79 million yen in the same period last year), further increasing the deficit beyond the forecast of a loss of 83 million yen.

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 expand by 42.1% from the same period last year, reaching 270 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary loss expanded to a loss of 180 million yen (compared to a loss of 134 million yen in the same period last year). The operating profit/loss margin drastically worsened from -19.1% in the same period last year to -26.2%.

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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	1,657	-75	-38	-52	-30.7	ー	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	1,668	-112	-79	-55	-32.4	ー	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	1,683	-150	-120	-133	-77.7	ー	Nov 11, 2024	J-GAAP
YoY	+0.9%	-33.9%	-51.9%	-141.8%	-139.7%

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	1,774	-106	-83	-93	-53.9	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	1,683	-150	-120	-133	-77.7	0	Nov 11, 2024	J-GAAP
Revision Rate	-5.1%	-41.5%	-44.6%	-43.0%	-44.0%

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	2,117	176	190	145	84.5	25	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	2,322	264	270	263	152.5	30	Nov 11, 2024	J-GAAP
YoY	+9.7%	+50.0%	+42.1%	+81.4%	+80.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	3,756	73	130	138	80.5	25	May 12, 2023	J-GAAP
Mar, 2024	3,785	64	111	90	52.5	25	May 13, 2024	J-GAAP
Mar, 2025 Guidance	4,005	114	150	130	75.4	30	May 13, 2024	J-GAAP
YoY	+5.8%	+78.1%	+35.1%	+44.4%	+43.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	721	-138	-134	-137	-80.7	-19.1	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	1,162	147	153	142	83.1	12.7	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	955	29	37	3	1.8	3.0	May 13, 2024	J-GAAP
Apr - Jun, 2024	995	30	60	47	27.4	3.0	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	688	-180	-180	-180	-105.1	-26.2	Nov 11, 2024	J-GAAP
YoY	-4.6%	-30.4%	-34.3%	-31.4%	-30.2%