Yamada Holding Co., Ltd.

Yamada Holdings announced its first-quarter results for the fiscal year ending March 2027, with net sales of 420.218 billion yen (up 11.3% year-on-year) and ordinary income of 16.774 billion yen (up 14.5% year-on-year), marking growth in both revenue and profit. The electronics business accounted for over 80% of sales, driven by early replacement demand due to the 2027 air conditioner issue and record-high temperatures creating a special demand for air conditioners, which also boosted sales of large home appliances such as TVs and refrigerators, as well as non-appliance categories. On the other hand, the housing and construction segment saw a significant decline in operating profit, down 87.8%, but the full-year forecast remains unchanged. Additionally, for the shareholder benefit program with a record date at the end of September, shareholders holding 100 shares or more will receive shopping vouchers, with more generous terms for those holding less than 1,000 shares compared to the end of March.

A change report filed on the 21st shows that City Index Eleventh, an investment firm affiliated with the former Murakami Fund, has raised its combined stake in major electronics retailer Yamada Holdings to 7.33%, together with co-holder Aya Nomura and others. The previous holding ratio was 6.26%, and the date on which the reporting obligation arose was the 14th. The stated purpose of the holding remains to provide advice and proposals on capital policy and corporate governance that contribute to improving shareholder value, and the proposals are said to include changes to capital policy such as dividend increases and share buybacks, as well as the transfer of businesses or assets and taking the company private, including management buyouts.