Yamato Holdings Booking of Extraordinary Loss on Subsidiary Transfer

Yamato Holdings is selling its finance subsidiary to Nojima Corp for ¥3.5bn, triggering an extraordinary loss and a reduction in FY3/27 profit guidance to ¥16bn. Goldman Sachs maintains a Neutral rating, viewing the resulting debt reduction as a positive balance sheet move.

Key Takeaways

• 1.Yamato Holdings will transfer its 70% stake in YAMATO CREDIT & FINANCE to Nojima Corporation for ¥3.5 billion.
• 2.The company revised down its FY3/27 net profit guidance from ¥24.0 billion to ¥16.0 billion due to the extraordinary loss from the sale.
• 3.The deconsolidation is viewed as positive for balance sheet management, expected to reduce interest-bearing debt by approximately ¥31.6 billion.

Table of Contents

• Yamato Holdings (9064.T): Booking of extraordinary loss on transfer of consolidated subsidiary
• Price Target Risks and Methodology - Yamato Holdings
• GS Forecast
• Disclosure Appendix
• Price target and rating history chart(s)
• Ratings, coverage universe and related definitions
• Global product; distributing entities
• General disclosures

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