YAMATO HOLDINGS, The Current Fiscal Year Net Income Revised Upward by 3.6 times

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Mon Feb 3, 2025 3:30 pm JST Earnings

9064 YAMATO HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

YAMATO HOLDINGS CO.,LTD. <9064> [TSE Prime] announced its financial results after the market closed on February 3rd (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) dropped 38.5% from the same period last year to 28.8 billion yen.

However, the full-year consolidated net income has been revised upward 3.6 times, from the previous forecast of 5 billion yen to 18 billion yen (compared to 37.6 billion yen in the previous period), and the declining rate is expected to decrease from 86.7% to 52.2%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the October to March period (2H) has been revised upward 80.4%, from the previous forecast of 16.1 billion yen to 29.1 billion yen (compared to 32.2 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 49.8% to 9.5%.

In the most recent three-month period, from October to December (3Q), the consolidated net income decreased to 40 billion yen, a 3.6% decrease compared to the same period last year. However, the operating profit margin improved from 7.6% in the same period last year to 8.2%.

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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	1,395,967	66,400	64,235	39,087	107.8	110.6	Feb 6, 2023	J-GAAP
Apr - Dec, 2023	1,366,827	50,362	50,615	46,927	132.8	125.1	Feb 5, 2024	J-GAAP
Apr - Dec, 2024	1,344,531	26,263	26,719	28,875	84.4	205.5	Feb 3, 2025	J-GAAP
YoY	-1.6%	-47.9%	-47.2%	-38.5%	-36.4%

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	889,587	25,001	23,652	16,174	49.1	23	Nov 5, 2024	J-GAAP
Oct - Mar, 2024 New	919,587	25,001	26,652	29,174	88.6	23	Feb 3, 2025	J-GAAP
Revision Rate	+3.4%	0.0%	+12.7%	+80.4%	+80.4%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	1,730,000	10,000	10,000	5,000	15.2	46	Nov 5, 2024	J-GAAP
Mar, 2025 New	1,760,000	10,000	13,000	18,000	54.6	46	Feb 3, 2025	J-GAAP
Revision Rate	+1.7%	0.0%	+30.0%	+260.0%	+259.9%

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	892,044	27,701	27,817	32,242	91.9	23	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	919,587	25,001	26,652	29,174	88.6	23	Feb 3, 2025	J-GAAP
YoY	+3.1%	-9.7%	-4.2%	-9.5%	-3.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,800,668	60,085	58,066	45,898	126.6	46	May 10, 2023	J-GAAP
Mar, 2024	1,758,626	40,059	40,458	37,626	107.2	46	May 8, 2024	J-GAAP
Mar, 2025 Guidance	1,760,000	10,000	13,000	18,000	54.6	46	Feb 3, 2025	J-GAAP
YoY	+0.1%	-75.0%	-67.9%	-52.2%	-49.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	500,245	38,004	37,974	41,543	117.5	7.6	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	391,799	-10,303	-10,157	-9,301	-26.5	-2.6	May 8, 2024	J-GAAP
Apr - Jun, 2024	405,632	-14,204	-14,875	-10,112	-29.5	-3.5	Aug 1, 2024	J-GAAP
Jul - Sep, 2024	434,781	-797	1,223	-1,062	-3.1	-0.2	Nov 5, 2024	J-GAAP
Oct - Dec, 2024	504,118	41,264	40,371	40,049	117.1	8.2	Feb 3, 2025	J-GAAP
YoY	+0.8%	+8.6%	+6.3%	-3.6%	-0.4%