Yamami Company, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 23% Decrease

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Thu Feb 13, 2025 3:30 pm JST Earnings

2820 Yamami Company 【J-GAAP】

Earnings Report

Yamami Company <2820> [TSE Std] announced its financial results after the market closed on February 13th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending June 2025 (July to December) dropped 36.5% from the same period last year to 0.8 billion yen, fell short of the previous forecast of 1.1 billion yen.

In addition, the full-year ordinary profit has decreased 32.1%, from the previous forecast of 2.34 billion yen to 1.59 billion yen (compared to 2.07 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 23.2% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the ordinary profit for the January to June period (2H) is expected to decrease 2.0% from the same period last year to 0.78 billion yen.

In the most recent three-month period, from October to December (2Q), the ordinary profit dropped to 0.6 billion yen, a 30.1% decrease compared to the same period last year. The operating profit margin significantly dropped from 16.6% in the same period last year to 10.7%.

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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
Jul - Dec, 2022	7,838	504	521	352	50.6	49.1	Feb 14, 2023	J-GAAP
Jul - Dec, 2023	9,571	1,274	1,274	893	128.3	61.4	Feb 14, 2024	J-GAAP
Jul - Dec, 2024	10,400	807	809	559	80.4	50.7	Feb 13, 2025	J-GAAP
YoY	+8.7%	-36.7%	-36.5%	-37.4%	-37.3%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Guidance	9,870	1,105	1,103	766	109.9	36	Aug 8, 2024	J-GAAP
Jul - Dec, 2024 Results	10,400	807	809	559	80.4	36	Feb 13, 2025	J-GAAP
Revision Rate	+5.4%	-27.0%	-26.7%	-27.0%	-26.9%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun, 2025 Prev	21,000	2,350	2,348	1,631	234.1	72	Aug 8, 2024	J-GAAP
Jun, 2025 New	21,000	1,600	1,595	1,397	200.5	72	Feb 13, 2025	J-GAAP
Revision Rate	0.0%	-31.9%	-32.1%	-14.3%	-14.3%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan - Jun, 2024	9,430	805	802	583	83.7	47	Aug 8, 2024	J-GAAP
Jan - Jun, 2025 Guidance	10,600	793	786	838	120.3	36	Feb 13, 2025	J-GAAP
YoY	+12.4%	-1.5%	-2.0%	+43.7%	+43.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun, 2023	16,178	1,039	1,061	802	115.2	32	Aug 9, 2023	J-GAAP
Jun, 2024	19,001	2,079	2,076	1,476	211.9	66	Aug 8, 2024	J-GAAP
Jun, 2025 Guidance	21,000	1,600	1,595	1,397	200.5	72	Feb 13, 2025	J-GAAP
YoY	+10.5%	-23.0%	-23.2%	-5.4%	-5.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	5,171	860	861	584	83.9	16.6	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	4,810	500	498	376	54.0	10.4	May 9, 2024	J-GAAP
Apr - Jun, 2024	4,620	305	304	207	29.7	6.6	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	4,798	208	207	141	20.4	4.3	Nov 14, 2024	J-GAAP
Oct - Dec, 2024	5,602	599	602	418	60.1	10.7	Feb 13, 2025	J-GAAP
YoY	+8.3%	-30.3%	-30.1%	-28.4%	-28.4%