Bell-Park (9441) Q1 2025 earnings summary

Executive summary

• Revenue for the three months ended March 31, 2025, rose 12.0% year-over-year to ¥34,250 million, with operating profit up 33.3% and profit attributable to owners of parent up 22.4%.

• Growth was driven by increased sales volume of mobile phones, stock revenue, and ancillary products, despite higher selling, general, and administrative expenses.

• The group operated 332 carrier shops at quarter-end, with ongoing consolidation and reorganization of store formats.

Financial highlights

• Operating profit reached ¥2,455 million (up 33.3% YoY), ordinary profit ¥2,523 million (up 35.2% YoY), and net income ¥1,720 million (up 22.4% YoY).

• Gross profit increased to ¥8,187 million from ¥7,208 million YoY.

• Basic earnings per share for the quarter was ¥89.42, up from ¥73.05 YoY.

• Comprehensive income for the quarter was ¥1,696 million, up 20.8% YoY.

Outlook and guidance

• Full-year 2025 revenue is forecast at ¥114,000 million (down 1.8% YoY), with operating profit of ¥4,500 million (up 5.5%) and net income of ¥3,000 million (down 5.6%).

• Dividend forecast for FY2025 was revised upward to ¥74 per share.

• No changes to previously announced forecasts as of the reporting date.