Trusco Nakayama (9830) investor relations material

Executive summary

• Net sales for Q1 FY2026 rose 9.8% year-over-year to 86,961 million yen, driven by expanded logistics and digital services.

• Operating income grew 2.7% year-over-year to 6,000 million yen, while net income attributable to owners rose 2.6% to 4,105 million yen.

• Comprehensive income increased 19.0% year-over-year to 4,269 million yen.

• E-business route outperformed, exceeding 25% of total sales, with 18.7% year-over-year growth.

Financial highlights

• Q1 FY2026 net sales: 86,961 million yen (+9.8% YoY); gross profit: 17,759 million yen (+6.9% YoY); SGA expenses: 11,759 million yen (+9.2% YoY); operating income: 6,000 million yen (+2.7% YoY); net income: 4,105 million yen (+2.6% YoY).

• Gross profit for Q1 2026 was 17,759 million yen, up from 16,610 million yen in Q1 2025.

• Basic earnings per share for Q1 2026 was 62.27 yen, compared to 60.69 yen in Q1 2025.

• Total assets increased to 335,453 million yen as of March 31, 2026, from 308,359 million yen at the end of 2025.

• Equity-to-asset ratio declined to 56.2% from 60.4% at year-end 2025.

Outlook and guidance

• FY2026 net sales forecast: 341,000 million yen (+7.2% YoY); gross profit: 71,800 million yen (+7.6% YoY); operating income: 21,720 million yen (-4.8% YoY); net income: 14,540 million yen (-8.4% YoY); basic EPS: 220.50 yen.

• SGA expenses expected to rise due to new logistics centers and higher personnel costs.

• Inventory valuation gains projected at 1,000 million yen for FY2026, down 600 million yen YoY.