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Financial Results Presentation9831YAMADA HOLDINGS CO.,LTD.Retail

Materials for the Briefing on Financial Results for the First Quarter of the Fiscal Year Ending March 2027

In the first quarter of the fiscal year ending March 2027, consolidated net sales and operating profit both exceeded the year-earlier period, driven by exceptional air conditioner demand and progress under the “whole-home living” strategy. However, profit declined in some segments, including Housing and Finance.

Worth reading
53Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
42555
¥ million (year-on-year change in consolidated net sales)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial Results PresentationFirst quarter of the fiscal year ending March 202711 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales420,218 Millions of yen+11.3%
Operating profit15,642 Millions of yen+16.8%
Ordinary income16,774 Millions of yen+14.5%
Net income¥9,984 million +12.8%profit attributable to owners of the parent
Gross Profit Margin29 %
Operating profit margin3.7 %
Selling, general and administrative expenses106,291 Millions of yen
Results for the three months of the current quarter
Net Sales
420,218 Millions of yen
Gross profit
121,934 Millions of yen
Operating profit
15,642 Millions of yen
Ordinary income
16,774 Millions of yen
Profit attributable to owners of parent for the quarter
9,984 Millions of yen
Full-year earnings forecast
Net Sales
1,780,000 Millions of yen
Gross profit
503,100 Millions of yen
Selling, general and administrative expenses
451,600 Millions of yen
Operating profit
51,500 Millions of yen
Ordinary income
52,600 Millions of yen
Profit attributable to owners of the parent
27,800 Millions of yen
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progressing as planned (asset efficiency initiatives and the Housing segment)
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Personnel expenses
    Change in amount19.2
    FactorsRegular salary increases, etc.
  • Advertising expenses
    Change in amount8.1
    FactorsStore renovations and measures for existing stores, etc.
  • Rent
    Change in amount-1.1
    FactorsStore closures and consolidation
  • Other SG&A expenses
    Change in amount11.4
    FactorsSales-linked commissions, etc.
  • Growth in sales of private-label and SPA Yam ada Original products
  • Growth in sales of high-margin non-electronics products, including renovations, furniture and interior goods
  • Higher sales mix of low-margin products such as mobile phones and game consoles

The company identifies the factors but does not state the amount attributable to each one.

New initiatives
  • Discussions and consideration toward a business integration with EDION Corporation
  • Expanding the product lineup of SPA electronics
  • Beginning nationwide sales of the future-oriented bathing system “Mirable Assist Bath” at Yam ada Denki stores
  • Rolling out the built-in kitchen storage cabinet “Kitchen Wall Cabi NEO,” which integrates a refrigerator, across the Group
  • Construction of the Yamada Energy Plant, scheduled to begin operations in May 2027
  • Store development, consolidation and inventory centralization centered on LIFE SELECT
Key KPIsA metric the company considers important as a management benchmark.
  • Inventory turnover (latest 4 quarters)4.13 Times
    Year on year against the same period last year+0.56 turns
  • Total asset turnover (latest 4 quarters)1.26 Times
    Year on year against the same period last year+0.08 turns
  • Sales of private-label and SPA original products449 Hundreds of millions of yen
    Year on year against the same period last year+22.9%
  • Digital members3,209 10,000 people
    Year on year against the same period last year+84万人
  • Outstanding undelivered orders346 Hundreds of millions of yen
    Year on year against the same period last year+¥7.6 billion
  • Number of LIFE SELECT stores41 stores
    Year on year against the same period last year+5 stores (versus the fiscal year ended March 2024)
Segment results
  • Electronics
    Net Sales339,466 Millions of yen (YoY +10.5%)
    Operating profit14,745 Millions of yen (YoY +20.3%)
  • Housing
    Net Sales72,826 Millions of yen (YoY +13.1%)
    Operating profit46 Millions of yen (YoY -87.8%)
  • Finance
    Net Sales1,188 Millions of yen (YoY +4.0%)
    Operating profit287 Millions of yen (YoY -1.4%)
  • Environment
    Net Sales10,999 Millions of yen (YoY +10.9%)
    Operating profit506 Millions of yen (YoY +31.1%)
  • Other
    Net Sales2,548 Millions of yen (YoY +0.1%)
    Operating profit30 Millions of yen (YoY -34.2%)
Medium-term management plan targets
Period CoveredFiscal years ending March 2026 to March 2030
Targets and initiatives
  • Restructuring the asset portfolio
  • Accelerating store development centered on LIFE SELECT
  • Strategic M&A investment
  • Interest-Bearing Debt Reduction
  • Flexible shareholder returns
Orders received and order backlog
Orders received
  • 26,480 Millions of yen+11.7%
    Companyヤマダホームズ
  • 27,663 Millions of yen+1.2%
    Companyヒノキヤグループ
Order backlog
  • 58,541 Millions of yen+41.6%
    Companyヤマダホームズ — custom-built homes
  • 77,824 Millions of yen+23.9%
    Companyヒノキヤグループ — custom-built homes
Number of stores and locations
Number of Stores at Period-End928 stores
Stores opened during the period4 stores
Stores closed during the period4 stores
Annual Dividend
Annual dividend per share¥17
Payout ratio
Rate40.6 %
TargetConsolidated payout ratio of 40% or higher
Acquisition of treasury shares
The policy refers to flexible share repurchases. The repurchase limit, number of shares and period were not disclosed.
Contents of this document
ItemDetails
Document typeFinancial Results Presentation
Fiscal Period CoveredFirst quarter of the fiscal year ending March 2027
Net Sales420,218 Millions of yen (YoY +11.3%)
Operating profit15,642 Millions of yen (YoY +16.8%)
Ordinary income16,774 Millions of yen (YoY +14.5%)
Net income¥9,984 million (profit attributable to owners of the parent) (YoY +12.8%)
Gross Profit Margin29 %
Operating profit margin3.7 %
Selling, general and administrative expenses106,291 Millions of yen
Results for the three months of the current quarterNet Sales 420,218 Millions of yen / Gross profit 121,934 Millions of yen / Operating profit 15,642 Millions of yen / Ordinary income 16,774 Millions of yen / Profit attributable to owners of parent for the quarter 9,984 Millions of yen
Full-year earnings forecastNet Sales 1,780,000 Millions of yen / Gross profit 503,100 Millions of yen / Selling, general and administrative expenses 451,600 Millions of yen / Operating profit 51,500 Millions of yen / Ordinary income 52,600 Millions of yen / Profit attributable to owners of the parent 27,800 Millions of yen
Self-assessment against the planProgressing as planned (asset efficiency initiatives and the Housing segment)
Segment resultsSegment Electronics / Net Sales 339,466 Millions of yen (YoY +10.5%) / Operating profit 14,745 Millions of yen (YoY +20.3%), Segment Housing / Net Sales 72,826 Millions of yen (YoY +13.1%) / Operating profit 46 Millions of yen (YoY -87.8%), Segment Finance / Net Sales 1,188 Millions of yen (YoY +4.0%) / Operating profit 287 Millions of yen (YoY -1.4%), Segment Environment / Net Sales 10,999 Millions of yen (YoY +10.9%) / Operating profit 506 Millions of yen (YoY +31.1%), Segment Other / Net Sales 2,548 Millions of yen (YoY +0.1%) / Operating profit 30 Millions of yen (YoY -34.2%)
Breakdown of Factors Affecting the ChangeItem Personnel expenses / Change in amount 19.2 Hundreds of millions of yen / Factors Regular salary increases, etc., Item Advertising expenses / Change in amount 8.1 Hundreds of millions of yen / Factors Store renovations and measures for existing stores, etc., Item Rent / Change in amount -1.1 Hundreds of millions of yen / Factors Store closures and consolidation, Item Other SG&A expenses / Change in amount 11.4 Hundreds of millions of yen / Factors Sales-linked commissions, etc., Item Growth in sales of private-label and SPA Yam ada Original products / Amount Not disclosed, Item Growth in sales of high-margin non-electronics products, including renovations, furniture and interior goods / Amount Not disclosed, Item Higher sales mix of low-margin products such as mobile phones and game consoles / Amount Not disclosed
Key KPIsIndicator name Inventory turnover (latest 4 quarters) / Value 4.13 Times / Year on year against the same period last year +0.56 turns, Indicator name Total asset turnover (latest 4 quarters) / Value 1.26 Times / Year on year against the same period last year +0.08 turns, Indicator name Sales of private-label and SPA original products / Value 449 Hundreds of millions of yen / Year on year against the same period last year 22.9 Hundreds of millions of yen, Indicator name Digital members / Value 3,209 10,000 people / Year on year against the same period last year +84万人, Indicator name Outstanding undelivered orders / Value 346 Hundreds of millions of yen / Year on year against the same period last year +¥7.6 billion, Indicator name Number of LIFE SELECT stores / Value 41 stores / Year on year against the same period last year +5 stores (versus the fiscal year ended March 2024)
Number of stores and locationsNumber of Stores at Period-End 928 stores / Stores opened during the period 4 stores / Stores closed during the period 4 stores
Medium-term management plan targetsPeriod Covered Fiscal years ending March 2026 to March 2030 / Targets and initiatives Restructuring the asset portfolio, Accelerating store development centered on LIFE SELECT, Strategic M&A investment, Interest-Bearing Debt Reduction, Flexible shareholder returns
Annual DividendAnnual dividend per share ¥17 / Interim Not disclosed / End of period Not disclosed
Payout ratioRate 40.6 % / Target Consolidated payout ratio of 40% or higher
Acquisition of treasury sharesThe policy refers to flexible share repurchases. The repurchase limit, number of shares and period were not disclosed.
Orders received and order backlogOrders received 26,480 Millions of yen (YoY +11.7%), 27,663 Millions of yen (YoY +1.2%) / Order backlog 58,541 Millions of yen (YoY +41.6%), 77,824 Millions of yen (YoY +23.9%)
New initiativesDiscussions and consideration toward a business integration with EDION Corporation, Expanding the product lineup of SPA electronics, Beginning nationwide sales of the future-oriented bathing system “Mirable Assist Bath” at Yam ada Denki stores, Rolling out the built-in kitchen storage cabinet “Kitchen Wall Cabi NEO,” which integrates a refrigerator, across the Group, Construction of the Yamada Energy Plant, scheduled to begin operations in May 2027, Store development, consolidation and inventory centralization centered on LIFE SELECT
Items this document does not state (9)
Progress against full-year forecastUnit price and quantity metricsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookFinancial targetsCapital expendituresMarket Size / ShareKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

Exceptional air conditioner demand related to the 2027 air conditioner issue, progress under the “whole-home living” strategy, an increase in customer traffic, and growth in high-margin non-electronics products such as renovations, furniture and interior goods contributed to higher sales and profit. In response to the situation in the Middle East, the Company addressed shortages of products and installation materials by using its nationwide logistics and supply networks. Initiatives to reduce inventories and improve asset efficiency also progressed.

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Materials for the Briefing on Financial Results for the First Quarter of the Fiscal Year Ending March 2027 | YAMADA HOLDINGS CO.,LTD. (9831) timely disclosure | Komori