ASKUL (2678) Q3 2026 earnings summary

Executive summary

• Net sales for the nine months ended February 20, 2026, declined 20.1% year-over-year to ¥286,877 million, primarily due to a ransomware attack that disrupted logistics and order processing systems, leading to a temporary suspension of online orders.

• Operating loss was ¥12,484 million, compared to an operating profit of ¥9,801 million in the prior year, with a net loss attributable to owners of parent of ¥14,020 million versus a profit of ¥6,110 million a year earlier.

• Customer numbers are steadily recovering, supported by restoration of service levels and aggressive sales promotions.

• Security measures have been strengthened, including the establishment of a CISO role and a dedicated Trust & Security unit.

• A year-end dividend of ¥10 per share is forecasted, reflecting a focus on shareholder returns and anticipated earnings recovery.

Financial highlights

• Q3 FY5/2026 net sales: ¥286.9 billion, down 20.1% year-over-year; gross profit: ¥65.9 billion, down 24.1%.

• Gross profit margin decreased by 1.0 point year-over-year to 23.6%, while the ratio of SG&A expenses to net sales increased by 5.9 points to 27.6%.

• Operating profit fell to -¥12.5 billion from ¥9.8 billion; profit attributable to owners: -¥14.0 billion.

• Full-year net sales forecast revised to ¥395 billion (down ¥105 billion from initial plan); operating profit forecast at -¥20.5 billion.

• Capital adequacy ratio dropped to 25.1% from 34.2% at the previous fiscal year-end.

Outlook and guidance

• Targeting a V-shaped recovery in FY5/2027, driven by customer recovery, improved gross margin post-promotions, and logistics normalization.

• Large-scale promotions and mass advertising to continue into Q4 and next fiscal year to accelerate customer and sales recovery.

• Full-year net sales forecast is ¥395,000 million, up 17.9% year-over-year, with operating profit projected at ¥20,500 million and ordinary profit at ¥22,000 million.

• The company is focused on recovering customer numbers and financial results in the next fiscal year, with ongoing sales promotions and pricing initiatives.

• Year-end dividend of ¥10 per share planned, with continued focus on profitability improvement.