Aeon (8267) Q1 2026 earnings summary

Executive summary

• Operating revenue reached JPY 2,566.8 billion, a record high for the fifth consecutive quarter, with operating profit and ordinary profit also hitting new records for the first quarter; fundamentals remain sound despite a net loss due to one-off extraordinary losses and tax-related expenses from restructuring and the PTF issue in Vietnam.

• All reportable segments posted higher operating revenue, with strong performance in GMS, Supermarket, Health & Wellness, and Shopping Center Development businesses, supported by pricing strategy, cost control, and digital transformation.

• Structural reforms, including full acquisitions of AEON Mall and AEON Delight and the integration of Tsuruha, are expected to drive future profit growth and synergies.

• The group continues to focus on price competitiveness, private brand expansion, and digital transformation to improve productivity and profitability.

Financial highlights

• Operating revenue for Q1 FY2025 was JPY 2,566.8 billion (+4.8% year-on-year); operating profit was JPY 56.2 billion (+17.8%); ordinary profit was JPY 48.0 billion (+5.9%); net loss attributable to owners was JPY 6.5 billion, mainly due to extraordinary losses and tax effects from restructuring and the PTF impairment.

• Comprehensive income was negative JPY 42.3 billion, down from JPY 16.4 billion last year.

• Earnings per share was negative 7.63 yen, compared to 3.91 yen last year.

• All business segments reported higher operating revenue year-on-year.

• Gross profit margin improved in key segments, supported by strong private brand sales and cost controls.

Outlook and guidance

• Full-year forecast for FY ending February 28, 2026: operating revenue JPY 10,500.0 billion (+3.6%), operating profit JPY 270.0 billion (+13.6%), ordinary profit JPY 250.0 billion (+11.5%), profit attributable to owners JPY 40.0 billion (+47.2%), EPS 15.49 yen (reflecting stock split).

• No changes to previously announced earnings or dividend forecasts; 1Q progress largely met initial projections.

• A 3-for-1 stock split is scheduled for September 1, 2025.

• Anticipated profit contributions from newly consolidated subsidiaries and further synergies from group integration.