YAMATO Mobility & Mfg. Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Downward by 69%

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Thu Nov 14, 2024 3:30 pm JST Earnings

7886 YAMATO Mobility & Mfg. Co.,Ltd. 【J-GAAP】

Earnings Report

YAMATO Mobility & Mfg. Co.,Ltd. <7886> [TSE-S] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a profit of 38 million yen (compared to a loss of 177 million yen in the same period last year), exceeded the previous forecast of 20 million yen.

However, the full-year consolidated ordinary profit has downwardly by 69.2%, from the previous forecast of 130 million yen to 40 million yen (compared to 21 million yen in the previous period), leading to a reduction in the profit growth rate from 6.2 times to 90.5%.

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 significant drop by 99.0% from the same period last year to 2 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary loss improved to a deficit of loss of 65 million yen (compared to a loss of 90 million yen in the same period last year). However, the operating profit/loss margin remained almost flat, changing from -0.4% in the same period last year to -0.6%.

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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	6,921	-46	-116	-148	-147.6	ー	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	7,519	-102	-177	-185	-140.6	ー	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	8,006	94	38	22	16.6	95.0	Nov 14, 2024	J-GAAP
YoY	+6.5%	－	－	－	－

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	8,000	40	20	20	15.0	0	Aug 9, 2024	J-GAAP
Apr - Sep, 2024 Results	8,006	94	38	22	16.6	0	Nov 14, 2024	J-GAAP
Revision Rate	+0.1%	+135.0%	+90.0%	+10.0%	+10.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	19,000	210	130	40	30.1	－	May 13, 2024	J-GAAP
Mar, 2025 New	16,500	100	40	10	7.5	－	Nov 14, 2024	J-GAAP
Revision Rate	-13.2%	-52.4%	-69.2%	-75.0%	-75.0%

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	7,845	149	198	36	27.4	0	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	8,494	6	2	-12	-9.0	－	Nov 14, 2024	J-GAAP
YoY	+8.3%	-96.0%	-99.0%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	15,540	214	94	30	27.3	0	May 12, 2023	J-GAAP
Mar, 2024	15,364	47	21	-149	-113.3	0	May 13, 2024	J-GAAP
Mar, 2025 Guidance	16,500	100	40	10	7.5	－	Nov 14, 2024	J-GAAP
YoY	+7.4%	+112.8%	+90.5%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,915	-15	-90	-95	-72.2	-0.4	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	3,922	66	38	4	3.1	1.7	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	3,923	83	160	32	24.3	2.1	May 13, 2024	J-GAAP
Apr - Jun, 2024	4,123	118	103	91	69.6	2.9	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	3,883	-24	-65	-69	-52.1	-0.6	Nov 14, 2024	J-GAAP
YoY	-0.8%	-60.0%	+27.8%	+27.4%	+27.8%