YA-MAN Operating Profit Down 11% to $43.26 Million in FY23
- Chaileedo Press
- Jun 21, 2023
- 2 min read
YA-MAN, the Japanese beauty devices company, reported net sales for FY23 were up 5.0% YoY to 42,996 million yen ($303.25 million), with operating profit down 10.8% to 6,134 million yen ($43.26 million).
Recently, the Japanese beauty devices company YA-MAN released its summary of consolidated financial results for the fiscal year ended April 30, 2023. The company reported net sales for FY23 increased by 5.0% YoY to 42,996 million yen ($303.25 million), YA-MAN stated that the growth in net sales was mainly driven by the significant increase in sales in China in the overseas operations segment and steady sales in each of the domestic sales channels.
Additionally, YA-MAN reported a 26.6% YoY decrease in ordinary profit to 5,917 million yen ($41.73 million) and a 30.0% YoY decrease in profit attributable to owners of parent to 3,913 million yen ($27.60 million). While the company’s operating profit decreased by 10.8% YoY to 6,134 million yen ($43.26 million).
In terms of business segment performance, YA-MAN saw an increase in home shopping sales by 28.1% YoY to 6,666 million yen ($47.01 million), with a segment profit increase of 7.9% YoY to 2,299 million yen ($16.21 million). Store sales decreased by 5.3% YoY to 7,953 million yen, and segment profit decreased by 27.2% YoY to 1,826 million yen. Direct sales also saw a decrease of 14.2% YoY to 9,922 million yen ($69.98 million), with a segment profit decrease of 21.5% YoY to 4,587 million yen ($32.35 million). YA-MAN's overseas operations segment saw significant growth in both sales and profits, exceeding those of the previous fiscal year, due to the continued strong performance of the Chinese domestic market. Segment sales increased by 23.2% YoY to 17,894 million yen ($126.20 million), and segment profit increased by 56.7% YoY to 6,870 million yen ($48.45 million).
A-MAN has released its consolidated earnings forecasts for the fiscal year ending on April 30, 2024. The forecasts predict a 4.7% YoY increase in net sales to 45,000 million yen ($317.38 million), a 6.0% increase in operating profit to 6,500 million yen ($45.84 million), a 4.8% increase in ordinary profit to 6,200 million yen ($43.73 million), and an 11.2% increase in profit attributable to owners of parent to 4,350 million yen ($30.68 million).
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