Aeon (8267) Q3 2025 earnings summary

Executive summary

• Operating revenue for Q3 FY2024 reached ¥332.7 billion, up 6.0% year-over-year, with operating income up 11.9% to ¥38.2 billion, but net income declined 16.5% due to extraordinary losses from restructuring and store closings.

• Domestic specialty store sales at existing malls rose 6.0% year-over-year, with customer traffic up 3.1%.

• Overseas, Vietnam saw profit growth and sales up 7.5%, while China faced profit declines due to new mall openings and closures.

• Comprehensive income dropped 64.7% year-over-year to ¥19,017 million.

Financial highlights

• Operating revenue: ¥332,729 million (+6.0% YoY); operating income: ¥38,193 million (+11.9% YoY); net income: ¥12,279 million (-16.5% YoY).

• Gross profit increased to ¥65,244 million (+10.8% YoY); SG&A expenses rose to ¥27,050 million (+9.3%).

• Extraordinary losses surged to ¥7,029 million, mainly from impairment and restructuring costs.

• Cash and cash equivalents at period-end: ¥88,408 million.

• Net income per share was ¥53.96, down from ¥64.64 year-over-year.

Outlook and guidance

• FY2024 full-year plan: operating revenue ¥453.5 billion, operating income ¥55.0 billion, net income ¥16.5 billion.

• Revised FY2025 operating income target to ¥69.0 billion, down from ¥85.0 billion.

• Annual dividend forecast unchanged at ¥50.00 per share.

• EPS projected to reach a record 151 yen in FY2025.