Aeon (8267) investor relations material

Executive summary

• Operating revenue for the first nine months rose 3.7% year-on-year to ¥7,749.4 billion, a record high, driven by private brand growth, successful campaigns, and the largest-ever Black Friday event.

• Operating profit increased by ¥27.2 billion year-on-year to ¥144.7 billion, a 23.1% rise, with improvements in labor-hour productivity, store DX, and cost optimization.

• Ordinary profit grew by ¥25.0 billion year-on-year to ¥127.1 billion; net loss attributable to owners improved to ¥10.9 billion from ¥17.4 billion a year earlier.

• All reporting segments saw year-on-year revenue growth, with record highs in operating revenue and profit for the nine-month period.

• The group advanced digital transformation, supply chain integration, health & wellness initiatives, and regional and Asian expansion, while executing major business integrations and environmental initiatives.

Financial highlights

• Operating revenue for YTD (1-3Q) FY2025 was ¥7,749.4 billion, up 3.7% year-over-year; operating profit rose to ¥144.7 billion, ordinary profit to ¥127.1 billion.

• Gross profit rose to ¥1,900.1 billion from ¥1,837.4 billion year-over-year.

• Net income attributable to owners improved to -¥10.9 billion from -¥17.4 billion year-over-year.

• Net assets decreased to ¥1,980.2 billion, down ¥155.0 billion from the previous fiscal year-end, while total assets rose to ¥14,692.8 billion, up ¥859.4 billion.

• Earnings per share improved to a loss of ¥4.07 from a loss of ¥6.79, reflecting a stock split.

Outlook and guidance

• Full-year operating revenue is forecast at ¥10,700 billion, up 5.6% year-over-year, with operating profit projected at ¥275 billion and net profit at ¥70 billion.

• EPS guidance is ¥22.35–26.07, factoring in the stock split.

• The acquisition of Tsuruha Holdings is expected to impact future results, with Tsuruha becoming a consolidated subsidiary in January 2026.

• Forecast revision is conservative due to uncertainties in Q4 and estimated goodwill amortization from Tsuruha.

• Structural reforms and DX initiatives are expected to drive further profitability improvements in Q4 and beyond.