AINAVO HOLDINGS (7539) Q2 2025 earnings summary

Executive summary

• H1 FY Sep 2025 revenue increased 2.8% YoY to ¥47,450 million; operating profit rose 1.5% to ¥1,593 million and net income rose 0.5% to ¥1,084 million.

• Revenue growth reflected detached-housing materials and equipment, plus completed large tile and stone projects; higher personnel costs lifted SG&A.

• Comprehensive income decreased 12.6% YoY to ¥1,032 million.

Financial highlights

• Gross profit rose 5.5% to ¥7,081 million; SG&A increased 6.7% to ¥5,488 million, leaving operating profit up 1.5% at ¥1,593 million.

• Ordinary profit increased 2.9% to ¥1,770 million; net income increased 0.5% to ¥1,084 million.

• Total assets were ¥47,446 million, up ¥2,484 million from fiscal year-end; equity ratio was 54.2%, down from 55.3%.

• EPS was ¥46.81, adjusted for the 2-for-1 stock split.

Outlook and guidance

• FY Sep 2025 guidance remains unchanged: revenue ¥92,700 million (+3.2%), operating profit ¥2,250 million (+3.6%), ordinary profit ¥2,550 million (+2.9%), and net income ¥1,550 million (+22.1%).

• March 2025 progress versus full-year guidance was 51.2% for revenue, 70.8% for operating profit, and 70.0% for net income.

• The fourth mid-term plan targets ROE of 8%, a 30% dividend payout ratio, and 2% DOE.