BuySell Technologies (7685) Q1 2025 earnings summary

Executive summary

• Q1 2025 net sales rose 93.1% YoY to ¥23,403m, operating profit increased 184.5% to ¥2,423m, and profit attributable to owners of parent rose 326.1% to ¥1,251m.

• FY2025 net sales increased 67.8% to ¥100.614bn and operating income rose 91.1% to ¥9.044bn; operating margin improved 1.1pt to 9.0%.

• FY2025 results exceeded the original medium-term plan, prompting higher FY2027 targets of ¥165bn sales and ¥17bn operating income.

Q1 2025 results

• Ordinary profit was ¥2,335m, up 288.8% YoY; basic EPS was ¥42.79, reflecting a 2-for-1 stock split.

• Total assets were ¥46,281m and the equity-to-asset ratio was 28.1% as of March 31, 2025.

FY2025 financial performance

• Gross profit rose 68.3% to ¥53.290bn, with gross margin up 0.2pt to 53.0%; ordinary profit increased 102.2% to ¥8.487bn and parent-attributable net income rose 118.6% to ¥5.270bn.

• Adjusted EBITDA reached ¥10.441bn, up 87.6%; SG&A increased 64.4% to ¥44.246bn, including advertising costs of ¥13.211bn and personnel costs of ¥16.445bn.

• Growth reflected repeat purchasing, higher unit prices, group synergies and acquisitions; strategic inventory carry restrained Q4 sales while supporting future-period sales.