YAMATO KOGYO, The Current Fiscal Year Ordinary Profit Revised Downward by 31%

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Fri Jan 31, 2025 1:00 pm JST Earnings

5444 YAMATO KOGYO CO.,LTD. 【J-GAAP】

Earnings Report

YAMATO KOGYO CO.,LTD. <5444> [TSE Prime] announced its financial results in the afternoon session on January 31st (13:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) dropped 48.1% from the same period last year to 38 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 30.7%, from the previous forecast of 75 billion yen to 52 billion yen (compared to 99.2 billion yen in the previous period), leading to an increase in the profit decline rate from 24.4% to 47.6%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has decreased 69.4%, from the previous forecast of 33.1 billion yen to 10.1 billion yen (compared to 48.6 billion yen in the same period of the previous year), leading to an increase in the profit decline rate from 31.8% to 79.2%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit/loss turned to a loss of 3.82 billion yen (compared to a profit of 22.7 billion yen in the same period last year). The operating profit margin decreased from 11.8% in the same period last year to 8.9%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022	139,120	13,573	72,787	53,140	834.3	80.4	Jan 31, 2023	J-GAAP
Apr - Dec, 2023	122,205	12,773	73,351	51,861	814.1	73.9	Jan 31, 2024	J-GAAP
Apr - Dec, 2024	126,248	9,281	38,049	19,382	304.7	73.2	Jan 31, 2025	J-GAAP
YoY	+3.3%	-27.3%	-48.1%	-62.6%	-62.6%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	91,641	5,994	33,123	23,951	383.0	200	Oct 31, 2024	J-GAAP
Oct - Mar, 2024 New	90,641	5,994	10,123	-549	-8.8	200	Jan 31, 2025	J-GAAP
Revision Rate	-1.1%	0.0%	-69.4%	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	170,000	11,000	75,000	52,500	839.5	400	Oct 31, 2024	J-GAAP
Mar, 2025 New	169,000	11,000	52,000	28,000	447.7	400	Jan 31, 2025	J-GAAP
Revision Rate	-0.6%	0.0%	-30.7%	-46.7%	-46.7%

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	83,106	9,428	48,602	33,676	528.7	250	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	90,641	5,994	10,123	-549	-8.8	200	Jan 31, 2025	J-GAAP
YoY	+9.1%	-36.4%	-79.2%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	180,438	16,813	90,494	65,317	1,025.5	300	Apr 28, 2023	J-GAAP
Mar, 2024	163,479	17,282	99,223	70,018	1,099.2	400	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	169,000	11,000	52,000	28,000	447.7	400	Jan 31, 2025	J-GAAP
YoY	+3.4%	-36.3%	-47.6%	-60.0%	-59.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	41,832	4,919	22,730	15,519	243.6	11.8	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	41,274	4,509	25,872	18,157	285.0	10.9	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	34,050	1,560	24,689	17,574	275.9	4.6	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	44,309	3,446	17,188	10,975	172.3	7.8	Oct 31, 2024	J-GAAP
Oct - Dec, 2024	47,889	4,275	-3,828	-9,167	-144.1	8.9	Jan 31, 2025	J-GAAP
YoY	+14.5%	-13.1%	－	－	－