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Syuppin (3179) investor relations material
Syuppin Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net sales for the quarter were ¥12,176 million, down 11.2% year-over-year, with operating profit at 35.6% of the previous year's level due to weak Watch business and increased SGA expenses.
Operating profit decreased 64.4% to ¥421 million, and net income dropped 66.5% to ¥282–283 million year-over-year.
Online net sales grew 3.0% year-over-year, but duty-free and cross-border sales dropped sharply.
The Watch business underperformed due to consumer hesitancy and inventory adjustments, while the Camera business saw strong online sales but overall decline.
Financial highlights
Net sales for 1Q FY03/2026 were ¥12,176 million, 88.8% of the previous year and 97.1% of plan.
Gross profit was ¥2,163 million (17.8% margin), down 20% year-over-year.
Operating profit fell to ¥421 million (3.5% margin), 35.6% of the previous year.
Ordinary profit for the quarter was ¥422 million, a 65.5% decline year-over-year.
SGA expenses increased 14.5% year-over-year, mainly from higher promotions and personnel costs.
Outlook and guidance
Full-year net sales target is ¥54,940 million, with 1Q progress at 22%.
Full-year operating profit forecast is ¥1,512–3,417 million, with 1Q progress at 12%.
Net income forecast for the full year is ¥1,028 million, down 24.7% year-over-year.
Management aims to enhance profitability by focusing on growth businesses and discontinuing underperforming segments.
Basic earnings per share for the full year are expected to be ¥47.18.
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