Yamato produces increase in revenue and profit

Yamato have released their FY18 annual results, showing a 4.9% increase in revenues and 2.3% increase in operating profit. The company’s profit totalled ¥18,668m.

Total revenues in the Delivery segment were ¥1,271,415m, up 4.4% from the previous year. TA-Q-Bin revenues grew 4.9%, with Kuroneko DM-Bin revenues up 3.3%. Volumes in these units grew 1.7% and 5.0% respectively. Operating profit in the segment grew 19.8% to ¥6,758m.

BIZ-Logistics revenues grew 15.1% in the year, whilst its operating profit grew 0.3% to ¥4,087m.

Overall, operating expenses grew 5.0%. Commission expenses grew 11.4% whilst employee salary expenses were 4.4% higher than the previous year.

During FY18, Yamato negotiated price increases with 1,100 large customers and over 60% agreed to price rises higher than 15%. The company had also been cutting parcel volumes and restricting scheduled delivery times in order to improve its bottom line figures. The company returned its first quarterly profit in Q3 after three successive quarters of losses.

Source: Yamato