BuySell Technologies (7685) Q2 2025 earnings summary

Executive summary

• Net sales for FY2025 Q2 cumulative reached 48,013 million yen, up 67.2% year-over-year, with operating profit doubling to 4,843 million yen and interim net income up 130.5% to 2,789 million yen.

• Comprehensive income for the period reached 2,786 million yen, a 129.6% increase year-over-year.

• Both home-visit and store purchase businesses performed strongly, aided by strategic repeat purchase measures and price increases.

• PMI of Rext HD progressed smoothly, improving productivity and reducing SG&A, contributing to profit growth.

• Overseas offering in June eliminated tax on retained earnings, lowering the effective tax rate and providing a continuous EPS improvement.

Financial highlights

• Net sales increased by 67.2% year-over-year to 48,013 million yen; gross profit rose 67.9% to 25,734 million yen.

• Operating profit margin improved to 10.1% (+1.7pt YoY); net income margin rose to 5.8%.

• Basic earnings per share for the six months was 94.74 yen, up from 42.32 yen in the prior year period, reflecting a stock split adjustment.

• Total assets as of June 30, 2025 were 52,060 million yen, with net assets at 18,737 million yen and an equity-to-asset ratio of 35.3%.

• Quarterly net sales hit a record 24.6 billion yen (+48.3% YoY); operating income for Q2 was 2.42 billion yen (+39.8% YoY).

Outlook and guidance

• Full-year FY2025 operating profit forecast revised upward to 8.5 billion yen (+1.0 billion yen vs. previous plan), with an operating margin of 8.5%.

• Net income for the period projected at 4.9 billion yen, up 29% from the previous plan, reflecting lower tax rates.

• Full-year 2025 net sales forecast is 100,000 million yen, up 66.7% year-over-year, with operating profit expected to rise 79.6% to 8,500 million yen and profit attributable to owners to increase 103.2% to 4,900 million yen.

• Basic earnings per share for the full year is projected at 167.54 yen.

• Dividend forecast increased to 25.0 yen/share, a 5.0 yen increase from the initial plan.