AZ-COM MARUWA (9090) Q2 2025 earnings summary

Executive summary

• Net sales for FY2025/3 2Q rose 5.1% year-over-year to ¥101,440 million, but operating profit dropped 40.9% to ¥4,326 million and net income attributable to shareholders fell 37.4% to ¥2,845 million.

• Cost increases, one-time expenses, and productivity shortfalls impacted profitability despite sales growth.

• The company is expanding logistics infrastructure, opening new distribution centers, and investing in employee engagement, recruitment, DX technology, and ESG initiatives.

Financial highlights

• Gross profit decreased 18.2% year-over-year to ¥9,811 million as cost of sales rose 8.4%.

• Operating profit margin declined from 7.6% to 4.3% year-over-year.

• Ordinary profit fell 38.9% to ¥4,609 million; extraordinary income of ¥119 million was recorded.

• Net assets increased to ¥58,369 million, up ¥827 million from the previous fiscal year-end.

• Cash and cash equivalents at period-end were ¥42,819 million, down ¥3,061 million from March 31, 2024.

Outlook and guidance

• FY2025/3 full-year net sales forecast revised to ¥207,000 million (+4.3% YoY), with operating profit expected at ¥11,200–11,700 million (down 19.1–19.3% YoY).

• Net income forecast at ¥7,700 million (down 15.6% YoY); EPS projected at ¥57.15.

• Dividend per share planned at ¥32.00, marking six consecutive years of increases.

• Severe business environment expected to persist due to labor cost pressures and high resource/energy prices.