Yamato Holdings (9064) Q1 2025 earnings summary

Executive summary

• Operating revenue for the first three months ended June 30, 2024, was ¥405.6 billion, down 3.5% year-over-year, with an operating loss of ¥14.2 billion and a net loss attributable to owners of parent of ¥10.1 billion.

• Revenue decline was driven by lower contract logistics and post-box delivery volumes, despite growth in cross-border EC and BtoB-EC parcel delivery.

• Operating expenses increased due to higher labor and outsourcing costs, and investments in new business models.

• The company is executing its medium-term plan focused on sustainability, network optimization, and new business models.

Financial highlights

• Operating revenue: ¥405.6 billion (down 3.5% year-over-year).

• Operating loss: ¥14.2 billion (down ¥15.8 billion year-over-year).

• Ordinary loss: ¥14.9 billion (down ¥16.7 billion year-over-year).

• Net loss attributable to owners of parent: ¥10.1 billion (compared to ¥0.1 billion loss last year).

• Basic EPS: -¥29.49 (vs. -¥0.37 last year).

Outlook and guidance

• Full-year operating revenue forecast revised down to ¥1,780 billion (from ¥1,820 billion), a 2.2% decrease from previous guidance.

• Operating profit, ordinary profit, and net profit forecasts remain unchanged at ¥50 billion, ¥50 billion, and ¥32 billion, respectively.

• Interim dividend forecast maintained at ¥23 per share; full-year dividend forecast at ¥46 per share.