Buffalo (6676) Q4 2025 earnings summary

Executive summary

• FY2025 net sales were ¥143,170 million, down 1.8% YoY; operating profit rose 242.6% to ¥8,899 million and profit attributable to owners of parent increased 99.4% to ¥6,006 million.

• Food-business results were included only through FY2025 H1 after the Shimadaya share-distribution spin-off; FY2026 guidance excludes food operations.

Financial highlights

• FY2025 ordinary profit was ¥9,030 million, up 250.6% YoY; gross profit increased to ¥39,366 million from ¥36,072 million, and operating margin rose to 6.2% from 1.8%.

• Basic EPS was ¥383.99, up from ¥179.66; ROE was 11.0%, up from 10.5%.

• Cash and cash equivalents at year-end were ¥31,609 million, up from ¥29,958 million.

• Extraordinary income included a ¥1,997 million gain on sale of subsidiary and associate shares; extraordinary losses included ¥387 million in impairment and other losses.

Outlook and guidance

• FY2026 guidance excluding food operations: revenue ¥106.0bn, operating and ordinary profit ¥4.5bn each, and parent-attributable net income ¥3.2bn; versus the stated comparable basis, declines are 12.6%, 28.2%, 28.5% and 21.7%, respectively.

• FY2026 reported-basis forecast: net sales ¥106,000 million, down 26.0%; operating profit ¥4,500 million, down 49.4%; and parent-attributable profit ¥3,200 million, down 46.7%.

• FY2026 forecast assumes ¥150/$; price increases and cost reductions are expected to support earnings amid difficult market conditions.

• FY2026 annual dividend forecast is ¥80 per share; the reported forecast payout ratio is 38.0%.