Yamato glad to return operating profit in Q3

In the nine months ended December 31, 2017, Yamato Holdings produced revenues of *¥1,171bn, up 4.8% year-over-year.

Its top line results growth was due to price increases negotiated with its largest customers. According to Reuters, Yamato has been negotiating price increases with 1,100 large customers and over 60% have agreed to price rises higher than 15%. The company has also been cutting parcel volumes and restricting scheduled delivery times.

Yamato produced operating profit of ¥31.2bn, down 44.7% from the same nine months in the year before but it returned its first quarterly profit after three successive quarters of losses. Ordinary profit was down 44.4% to ¥32.4bn.

In Q3 alone, Delivery revenues were up 3.9% year-over-year, but its operating profit dropped by 73.2% to ¥9.7bn. TA-Q-BIN revenues were 4.1% higher at ¥845.3bn. It delivered 0.5% more TA-Q-BIN parcels in the year.

In BIZ-Logistics, revenues were up just 0.4% year-over-year in the quarter. It made an operating loss of ¥300m, but this represented an improvement on the same quarter in the previous year.

Source: Yamato Holdings