ASKUL (2678) Q2 2025 earnings summary

Executive summary

• Net sales increased by 2.9% year-over-year to ¥237.9 billion, but operating profit fell 16.8% and profit attributable to owners of parent dropped 19.4%.

• Gross profit margin declined by 0.9 points year-over-year, mainly due to exchange rate impacts and higher costs.

• Strategic focus for the second half includes sales growth, exchange position recovery, logistics cost improvements, and countermeasures to recover customer growth.

• The company targets record-high full-year net sales of ¥500 billion (+6.0% YoY) and operating profit of ¥18 billion (+6.2% YoY) by improving gross margin and cost structure.

• Customer numbers declined due to price adjustments and shipping threshold changes, with recovery measures underway.

Financial highlights

• Net sales: ¥237.9 billion (+2.9% YoY).

• Gross profit: ¥57.2 billion (-0.8% YoY); gross profit margin: 24.0% (-0.9 pts YoY).

• Operating profit: ¥6.0 billion (-16.8% YoY).

• Ordinary profit: ¥5.9 billion (-16.7% YoY).

• Comprehensive income for the period was ¥3,895 million, down from ¥4,778 million a year earlier.

Outlook and guidance

• Full-year forecast: net sales ¥500 billion (+6.0% YoY), operating profit ¥18 billion (+6.2% YoY), profit attributable to owners of parent ¥11.2 billion (+41.5% YoY), and EPS ¥117.10.

• Improvement in gross profit margin and exchange positions expected in the second half.

• Dividend forecast for FY2025 is ¥38.00 per share, up from ¥36.00 in the previous year.