#Yamato

Effective March 21, 2026, Yamato Co., Ltd. conducted personnel changes involving multiple directors and executive officers, including appointing a new Representative Director President Executive Officer CEO.

Yamato has formulated its medium-term management plan for 2026–2028. It plans to invest 9.6 billion yen in capital expenditure, human capital, and DX investment, targeting net sales of 60 billion yen, ordinary income of 5.8 billion yen, and ROE over 8.0% by fiscal 2028.

Industrial Fund Investment Corporation acquired two logistics facilities in Nagoya City, Aichi Prefecture, and Susono City, Shizuoka Prefecture, as its first CRE project with the Yamato Group. The unrealized gains after renovation are expected to be +JPY 410 million (+21.2%) and +JPY 560 million (+27.5%), respectively.

Yamato Corporation will absorb its consolidated subsidiary, Yamato Maintenance Co., Ltd., effective October 21, 2026, aiming to improve management efficiency. There will be no allocation of shares due to the merger, and the impact on consolidated earnings is expected to be minimal.

For the fiscal year ending March 2026, consolidated net sales are projected at JPY 549.0 billion (3.6% increase from the previous forecast), operating income at JPY 5.3 billion (26.2% increase), and dividends are planned to be raised to JPY 56 per share at year-end.

For the third quarter of the fiscal year ending March 2026, net sales were 409.312 billion yen (10.7% year-over-year increase), operating income was 3.697 billion yen (24.9% year-over-year increase), and net income attributable to owners of parent for the quarter was 3.185 billion yen (36.5% year-over-year increase).

For Q3 of the fiscal year ending March 2026, net sales amounted to JPY 40,931 million (10.7% increase YoY), operating income was JPY 3,697 million (24.9% increase YoY), and net income attributable to owners of the parent was JPY 3,185 million (36.5% increase YoY).

For the third quarter of the fiscal year ending March 2026, consolidated operating revenue totaled 1,438,756 million yen (7.0% increase YoY), operating income was 38,585 million yen (46.9% increase YoY), and net income attributable to owners of parent for the quarter was 25,188 million yen (12.8% decrease YoY).

Revised downward the full-year consolidated earnings forecast for the fiscal year ending March 2026 to operating revenues of 1.86 trillion yen (1.1% decrease from previous forecast), operating income of 28 billion yen (30.0% decrease), and net income attributable to owners of parent of 15 billion yen (37.5% decrease).

Yamato Holdings plans to appoint Toshiyuki Sakurai as President and Representative Director effective April 1, 2026; Hiroshi Nagao will assume the position of Chairman and Representative Director, and Toshizo Kurisu is scheduled to retire at the June shareholders meeting.