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Kobe Bussan (3038) investor relations material
Kobe Bussan Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net sales rose 9.1% year-over-year to ¥411.6 billion, driven by robust new store openings, strong product shipments, and effective pricing strategies.
Operating profit increased 13.9% year-over-year to ¥30.3 billion, with gross profit up 12.4% due to lower purchase costs from yen appreciation.
Ordinary profit surged 74.0% year-over-year, aided by mark-to-market gains on forward exchange contracts.
Profit attributable to owners of parent jumped 76.5% year-over-year to ¥26.2 billion.
The business environment was marked by moderate economic recovery in Japan, but with ongoing cost pressures and consumer savings orientation due to inflation.
Financial highlights
Gross margin improved to 12.0% from 11.7% year-over-year.
SG&A expenses increased 10.1% year-over-year, mainly due to higher freight, personnel, and rent costs.
Operating margin rose to 7.4% from 7.1% year-over-year.
Ordinary profit reached ¥38,249 million, and comprehensive income increased 71.6% to ¥26,084 million.
Total assets as of July 31, 2025, were ¥247.6 billion, with an equity ratio of 61.0%.
Outlook and guidance
Full-year net sales forecast is ¥525 billion, with 78.4% progress as of Q3.
Operating profit forecast is ¥37.7 billion (80.5% progress), and profit attributable to owners of parent is ¥24 billion (109.2% progress).
Annual dividend forecast is ¥26.00 per share.
Plans to open a net increase of 34 Gyomu Super stores, focusing on the Kanto area.
Targeting 101-102% year-over-year growth in existing store sales and a higher private label product ratio.
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