Chori (8014) Q4 2026 earnings summary

Executive summary

• Net sales declined 3.9% year-over-year to ¥299.3 billion, while net profit attributable to owners of parent rose 3.0% to ¥12.0 billion, meeting medium-term management plan targets.

• Operating profit fell 9.9% year-over-year to ¥13.1 billion, but profitability improved due to a focus on high value-added businesses and lower income tax expenses.

• SAP system operations stabilized, supporting progress toward data-driven management.

• The company continued executing its medium-term management plan and disclosed the new Chori Innovation Plan 2028, emphasizing expertise, globalization, and strategic investment.

Financial highlights

• Net sales: ¥299.3 billion, down 3.9% year-over-year; gross profit: ¥41.1 billion, up 1.5% year-over-year.

• Operating profit: ¥13.1 billion, down 9.9% year-over-year; net profit attributable to owners of parent: ¥12.0 billion, up 3.0% year-over-year.

• Basic earnings per share rose to ¥487.36 from ¥473.06 year-over-year.

• Year-end dividend: ¥75 per share; annual dividend: ¥147 per share, payout ratio 30.2%.

• Cash and cash equivalents at year-end: ¥28.2 billion, up ¥5.0 billion from previous year.

Outlook and guidance

• FY03/2027 forecast: Net sales ¥320.0 billion (+6.9%), operating profit ¥14.5 billion (+11.1%), ordinary profit ¥15.0 billion (+5.7%), net profit attributable to owners of parent ¥10.5 billion (-12.6%).

• Annual dividend forecast for FY03/2027: ¥171 per share, up ¥24 from FY03/2026.

• New dividend policy: payout ratio of 40% or more and DOE of 3.5% or more.

• Chori Innovation Plan 2028 focuses on expertise, globalization, and strategic investment.