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Yokohama Maruuo Co., Ltd, July-September (2Q) Ordinary Profit Decreases by 45%

Tue Nov 5, 2024 3:30 pm JST Earnings

8045 Yokohama Maruuo Co., Ltd 【J-GAAP】

Earnings Report

Yokohama Maruuo Co., Ltd <8045> [TSE-S] announced its financial results after the market closed on November 5th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 316 million yen, an increase of 32.2% compared to the same period last year. The progress rate against the 650 million yen full-year plan was 48.6%, exceeding the five-year average of 39.9%.

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 nearly flat at 334 million yen, down 0.6% from the same period last year.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 28 million yen, a 45.1% decrease compared to the same period last year. The operating profit margin worsened from 0.6% in the same period last year to 0.2%.

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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 18,298 -82 123 99 15.6 27.3 Nov 4, 2022 J-GAAP
Apr - Sep, 2023 18,698 98 239 167 26.3 41.6 Nov 7, 2023 J-GAAP
Apr - Sep, 2024 18,906 136 316 231 36.3 48.6 Nov 5, 2024 J-GAAP
YoY +1.1% +38.8% +32.2% +38.3% +38.4%

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 ー ー ー ー － － May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 18,906 136 316 231 36.3 － Nov 5, 2024 J-GAAP
Revision Rate － － － － －

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 19,916 179 336 242 38.1 26 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 20,494 214 334 189 29.7 26 Nov 5, 2024 J-GAAP
YoY +2.9% +19.6% -0.6% -21.9% -22.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 40,670 122 450 377 59.3 22 May 12, 2023 J-GAAP
Mar, 2024 38,614 277 575 409 64.3 26 May 14, 2024 J-GAAP
Mar, 2025 Guidance 39,400 350 650 420 66.0 26 May 14, 2024 J-GAAP
YoY +2.0% +26.4% +13.0% +2.7% +2.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 9,562 61 51 55 8.7 0.6 Nov 7, 2023 J-GAAP
Oct - Dec, 2023 11,076 146 304 233 36.7 1.3 Feb 6, 2024 J-GAAP
Jan - Mar, 2024 8,840 33 32 9 1.4 0.4 May 14, 2024 J-GAAP
Apr - Jun, 2024 9,188 112 288 205 32.3 1.2 Aug 6, 2024 J-GAAP
Jul - Sep, 2024 9,718 24 28 26 4.1 0.2 Nov 5, 2024 J-GAAP
YoY +1.6% -60.7% -45.1% -52.7% -52.7%

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