Aucnet (3964) Q3 2025 earnings summary

Executive summary

• FY2025 3Q cumulative net sales rose 17.4% YoY to ¥47,481 million and operating profit increased 43.3% to ¥8,038 million, led by Lifestyle Products.

• Profit attributable to owners of parent rose 26.9% to ¥4,562 million; cumulative results included one-time costs, a JOYLAB goodwill impairment and gains on strategic-holdings sales.

Financial highlights

• 9M gross profit was ¥20,550 million versus ¥16,930 million; ordinary profit was ¥8,020 million versus ¥5,700 million.

• 9M EBITDA was ¥8,842 million, up 40.2% YoY; operating margin was 16.9%, up 3.1 points.

• Non-cumulative Q3 net sales were ¥14,948 million, up 7.8% YoY; operating profit rose 25.5% to ¥2,201 million and ordinary profit rose 34.6% to ¥2,306 million.

• Q3 profit attributable to owners of parent was ¥859 million, down 17.6% YoY.

• 9M profit before tax was ¥7,500 million, including ¥530.1 million extraordinary income and ¥1,052.7 million extraordinary losses, including ¥986.2 million impairment losses.

Outlook and guidance

• FY2025 forecast revised to net sales of ¥62,500 million, operating and ordinary profit of ¥9,050 million each, and parent-attributable profit of ¥5,500 million.

• Revised forecast implies YoY increases of 11.8% in net sales, 29.2% in operating profit, 25.6% in ordinary profit and 22.6% in parent-attributable profit.

• FY2025 dividend forecast is ¥55 per post-split share, including a ¥5 commemorative dividend; forecast payout ratio is 45.6%.

• Blue Print 2027 targets EBITDA of ¥10.0 billion, ROE of 15–20%, payout ratio of at least 40% and long-term GCV of ¥1 trillion.