YAMAYA CORPORATION, First Half Ordinary Profit Revised Downward to an Unexpected 5%Decrease

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Thu Nov 14, 2024 3:30 pm JST Earnings

9994 YAMAYA CORPORATION 【J-GAAP】

Earnings Report

YAMAYA CORPORATION <9994> [TSE-S] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 4.9% from the same period last year to 2.48 billion yen, resulting in a decrease in profits compared to the previous forecast of a 1.0% increase.

The progress rate against the 6.5 billion yen full-year plan was 38.2%, also falling below the five-year average of 42.1%.

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 grow by 6.0% from the same period last year, reaching 4.01 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.16 billion yen, a 7.0% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 3.0% in the same period last year to 2.8%.

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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	75,769	534	619	564	52.1	21.0	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	80,149	2,570	2,613	1,488	137.3	40.8	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	79,570	2,434	2,485	1,548	142.8	38.2	Nov 14, 2024	J-GAAP
YoY	-0.7%	-5.3%	-4.9%	+4.0%	+4.1%

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	81,800	2,600	2,640	1,600	147.6	27	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	79,570	2,434	2,485	1,548	142.8	27	Nov 14, 2024	J-GAAP
Revision Rate	-2.7%	-6.4%	-5.9%	-3.3%	-3.2%

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	80,186	3,749	3,789	2,129	196.4	28	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	86,430	3,966	4,015	2,152	198.5	27	Nov 14, 2024	J-GAAP
YoY	+7.8%	+5.8%	+6.0%	+1.1%	+1.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	152,764	2,837	2,953	1,930	178.0	52	May 12, 2023	J-GAAP
Mar, 2024	160,335	6,319	6,402	3,617	333.6	54	May 15, 2024	J-GAAP
Mar, 2025 Guidance	166,000	6,400	6,500	3,700	341.3	54	May 15, 2024	J-GAAP
YoY	+3.5%	+1.3%	+1.5%	+2.3%	+2.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	41,239	1,248	1,251	691	63.7	3.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	43,643	2,667	2,719	1,548	142.8	6.1	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	36,543	1,082	1,070	581	53.6	3.0	May 15, 2024	J-GAAP
Apr - Jun, 2024	39,151	1,286	1,321	817	75.4	3.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	40,419	1,148	1,164	731	67.4	2.8	Nov 14, 2024	J-GAAP
YoY	-2.0%	-8.0%	-7.0%	+5.8%	+5.8%