Buffalo (6676) Q2 2025 earnings summary

Executive summary

• H1 FY2025 net sales rose 5.5% YoY to ¥73,896 million; operating profit increased 67.3% to ¥3,008 million and ordinary profit rose 94.5% to ¥3,203 million.

• Profit attributable to owners of parent grew 52.3% YoY to ¥1,942 million.

• Shimadaya’s spin-off took effect Oct. 1, 2024; food operations are excluded from consolidated results from H2, and Shimadaya was listed on the TSE Standard Market on that date.

Financial highlights

• Gross profit increased to ¥19,010 million from ¥18,107 million YoY; EPS rose to ¥120.83 from ¥75.83.

• Total assets were ¥90,677 million and net assets ¥59,501 million at Sept. 30, 2024, down from ¥95,936 million and ¥63,922 million, respectively, at FY2024 year-end.

• Cash and deposits were ¥22.468bn at Q2 end, down ¥7.490bn from FY2024 year-end.

Outlook and guidance

• FY2025 forecast: net sales ¥133,000 million, down 8.8% YoY; operating and ordinary profit ¥5,200 million each, both projected to more than double YoY.

• Profit attributable to owners of parent forecast at ¥3,400 million, up 12.9% YoY; EPS forecast ¥217.35.

• H1 achieved 55.6% of sales guidance, 57.9% of operating profit, 61.6% of ordinary profit and 57.1% of net income guidance.