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YAMATO CORPORATION, First Half Ordinary Profit Increases by 5.4 times, July-September Ordinary Profit Turns to Profit

Tue Nov 5, 2024 3:00 pm JST Earnings

1967 YAMATO CORPORATION 【J-GAAP】

Earnings Report

YAMATO CORPORATION <1967> [TSE-S] announced its financial results in the afternoon session on November 5th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 5.4 times that of the same period last year, reaching 1.99 billion yen. The progress rate against the 3.3 billion yen full-year plan was 60.4%, also surpassing the five-year average of 42.6%.

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 drop by 33.5% from the same period last year to 1.3 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a profit of profit of 1.1 billion yen (compared to a loss of 233 million yen in the same period last year). The operating profit/loss margin drastically improved from -4.0% in the same period last year to 7.4%.

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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 21,135 1,011 1,216 788 30.8 48.3 Oct 26, 2022 J-GAAP
Apr - Sep, 2023 20,550 91 367 208 8.3 15.7 Nov 6, 2023 J-GAAP
Apr - Sep, 2024 24,487 1,717 1,994 1,351 54.3 60.4 Nov 5, 2024 J-GAAP
YoY +19.2% +1,786.8% +443.3% +549.5% +557.8%

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 24,480 1,710 1,990 1,350 54.4 0 Nov 1, 2024 J-GAAP
Apr - Sep, 2024 Results 24,487 1,717 1,994 1,351 54.3 0 Nov 5, 2024 J-GAAP
Revision Rate +0.0% +0.4% +0.2% +0.1% -0.3%

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 27,746 1,716 1,964 1,271 50.4 27 May 7, 2024 J-GAAP
Oct - Mar, 2024 Guidance 26,513 1,383 1,306 1,049 42.3 35 Nov 5, 2024 J-GAAP
YoY -4.4% -19.4% -33.5% -17.5% -16.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 44,500 2,033 2,517 1,866 72.9 25 May 8, 2023 J-GAAP
Mar, 2024 48,296 1,807 2,331 1,479 58.7 27 May 7, 2024 J-GAAP
Mar, 2025 Guidance 51,000 3,100 3,300 2,400 96.8 35 May 7, 2024 J-GAAP
YoY +5.6% +71.6% +41.6% +62.3% +65.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 9,940 -401 -233 -180 -7.1 -4.0 Nov 6, 2023 J-GAAP
Oct - Dec, 2023 13,824 550 678 111 4.4 4.0 Feb 5, 2024 J-GAAP
Jan - Mar, 2024 13,922 1,166 1,286 1,160 46.0 8.4 May 7, 2024 J-GAAP
Apr - Jun, 2024 11,962 789 891 608 24.3 6.6 Aug 5, 2024 J-GAAP
Jul - Sep, 2024 12,525 928 1,103 743 29.9 7.4 Nov 5, 2024 J-GAAP
YoY +26.0% － － － －

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