YAMATO, Ordinary Profit Forecast for the Fiscal Year Revised Upward to an Unexpected 8% Increase, Raises Record High Profit, Dividend Revised Upward by 9 Yen

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Tue Feb 3, 2026 3:00 pm JST Earnings

1967 YAMATO CORPORATION 【J-GAAP】

Earnings Report

YAMATO CORPORATION <1967> [TSE Std] announced its financial results in the afternoon session on February 3rd (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) increased 26.6% from the same period last year, reaching 4.34 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 23.9%, from the previous forecast of 4.60 billion yen to 5.70 billion yen (compared to 5.28 billion yen in the previous period), record profits reach two consecutive terms, turning to a 7.9% increase in the consolidated ordinary profit outlook.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (second half) has been revised upward 59.8%, from the previous forecast of 1.84 billion yen to 2.94 billion yen (compared to 3.28 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 44.1% to 10.6%.

In light of the strong performance, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 47 yen to 56 yen (compared to 45 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 10.1% from the same period last year, reaching 1.58 billion yen. However, the operating profit margin worsened from 10.0% in the same period last year to 8.8%.

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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, 2023	34,374	641	1,045	319	12.7	44.8	Feb 5, 2024	J-GAAP
Apr - Dec, 2024	36,967	2,961	3,431	2,334	93.9	64.9	Feb 3, 2025	J-GAAP
Apr - Dec, 2025	40,931	3,697	4,342	3,185	135.5	76.2	Feb 3, 2026	J-GAAP
YoY	+10.7%	+24.9%	+26.6%	+36.5%	+44.3%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2025 Prev	26,599	1,781	1,840	1,612	72.0	47	Nov 4, 2025	J-GAAP
Oct - Mar, 2025 New	28,499	2,881	2,940	2,112	94.3	56	Feb 3, 2026	J-GAAP
Revision Rate	+7.1%	+61.8%	+59.8%	+31.0%	+31.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	53,000	4,200	4,600	3,800	169.7	47	May 7, 2025	J-GAAP
Mar, 2026 New	54,900	5,300	5,700	4,300	192.1	56	Feb 3, 2026	J-GAAP
Revision Rate	+3.6%	+26.2%	+23.9%	+13.2%	+13.2%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024	28,681	3,079	3,289	2,581	103.9	45	May 7, 2025	J-GAAP
Oct - Mar, 2025 Guidance	28,499	2,881	2,940	2,112	94.3	56	Feb 3, 2026	J-GAAP
YoY	-0.6%	-6.4%	-10.6%	-18.2%	-9.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	48,296	1,807	2,331	1,479	58.7	27	May 7, 2024	J-GAAP
Mar, 2025	53,168	4,796	5,283	3,932	158.3	45	May 7, 2025	J-GAAP
Mar, 2026 Guidance	54,900	5,300	5,700	4,300	192.1	56	Feb 3, 2026	J-GAAP
YoY	+3.3%	+10.5%	+7.9%	+9.4%	+21.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2024	12,480	1,244	1,437	983	39.5	10.0	Feb 3, 2025	J-GAAP
Jan - Mar, 2025	16,201	1,835	1,852	1,598	64.3	11.3	May 7, 2025	J-GAAP
Apr - Jun, 2025	13,582	1,330	1,430	914	36.9	9.8	Aug 1, 2025	J-GAAP
Jul - Sep, 2025	12,819	1,089	1,330	1,274	53.0	8.5	Nov 4, 2025	J-GAAP
Oct - Dec, 2025	14,530	1,278	1,582	997	42.4	8.8	Feb 3, 2026	J-GAAP
YoY	+16.4%	+2.7%	+10.1%	+1.4%	+7.3%