Asahi Co (3333) Q4 2025 earnings summary

Executive summary

• Net sales and profits reached record highs, driven by strong demand for electric-assist bicycles, expanded repair and maintenance services, and growth in the reuse business.

• Profitability improved through optimized SG&A expenses, enhanced OMO (Online Merges with Offline), CRM initiatives, and supply chain improvements.

• Opened 12 new stores, including urban locations, bringing the total to 545 as of Feb. 2025, and reinforced the nationwide store and e-commerce network.

• Launched new strategic brand "COOSA" targeting young consumers and enhanced internal branding.

• Growth foundations were strengthened, including digital platforms and brand management.

Financial highlights

• Net sales rose to ¥81,593 million, up 4.5% year-over-year; operating profit increased 11.7% to ¥5,486 million; net profit grew 14.2% to ¥3,556 million.

• Ordinary profit increased 8.4% to ¥5,626 million.

• Gross profit margin slightly decreased to 47.5% due to sales mix changes, with gross profit at ¥38,740 million.

• Basic earnings per share increased to ¥136.51 from ¥119.21 year-over-year.

• E-commerce net sales grew 23.1% year-over-year, with e-commerce share rising to 16%.

Outlook and guidance

• FY2026 net sales are projected at ¥85,800 million (+5.2% YoY), with operating profit at ¥5,620 million (+2.4% YoY), and net profit at ¥3,650 million (+2.6%).

• E-commerce share expected to reach 16.9%, and market share to rise to 27%.

• Plans to maintain annual dividend at ¥50.00 per share, targeting a payout ratio of 35.7%.

• Focus on expanding business beyond new bicycle sales, especially in repairs, parts, reused products, and urban store openings.