AINAVO HOLDINGS (7539) Q4 2025 earnings summary

Executive summary

• FY2025 revenue rose 2.8% to ¥92,272 million; operating profit increased 16.6% to ¥2,531 million, ordinary profit 15.0% to ¥2,849 million, and net income attributable to shareholders 32.3% to ¥1,679 million.

• Growth was driven by productivity improvements, expansion in energy-efficient products, and M&A activity.

• Completed the final year of the 3-year mid-term plan, focused on strengthening the core housing business and expanding into reform and non-residential markets.

Financial highlights

• Gross profit increased 5.6% to ¥13,625 million; gross margin improved to 14.8% from 14.4%.

• SG&A rose 3.4% to ¥11,093 million, including higher personnel costs; operating profit increased ¥360 million year-over-year, reflecting ¥485 million from higher sales and ¥235 million from improved gross margin, offset by ¥360 million in higher SG&A.

• Comprehensive income was ¥1,904 million, up 46.7%; EPS was ¥72.39, adjusted for the stock split.

Outlook and guidance

• FY2026 forecast: revenue ¥98,500 million (+6.7%); operating profit ¥2,100 million (−17.1%); ordinary profit ¥2,600 million (−8.8%); net income ¥1,600 million (−4.7%).

• Forecast operating, ordinary-profit and net margins are 2.3%, 2.6% and 1.6%, respectively, versus 2.7%, 3.1% and 1.8% in FY2025.

• Priorities include M&A, business model transformation and workforce development amid industry headwinds.