Cosmo Energy Holdings (5021) Q3 2026 earnings summary

Executive summary

• Ordinary profit for 3Q FY2025 was ¥83.5 billion, with ¥113.5 billion excluding inventory valuation impacts, reflecting a negative inventory effect of ¥30.0 billion.

• Profit attributable to owners of parent was ¥34.9 billion, or ¥55.9 billion excluding inventory valuation, down 19.3% year-over-year.

• Net sales for 3Q FY2025 were ¥2,008.1 billion, down 1.5% year-over-year.

• Operating profit was ¥87.8 billion, nearly flat year-over-year.

• Comprehensive income rose slightly to ¥42.4 billion, up 3.1% year-over-year.

Financial highlights

• Gross profit increased to ¥225.8 billion from ¥217.2 billion year-over-year.

• Net worth increased to ¥719.1 billion, with a net worth ratio of 26.9%.

• Net debt to equity ratio improved to 0.78 times from 0.84 times at the previous fiscal year-end.

• Net income per share for the period was ¥212.61, reflecting a 2-for-1 share split.

• Total assets as of December 31, 2025, were ¥2,193.5 billion, up from ¥2,156.6 billion at the end of FY2024.

Outlook and guidance

• Full-year FY2025 forecast: net sales ¥2,580 billion (down 7.9% year-over-year), operating profit ¥123 billion (down 4.1%), ordinary profit ¥121.0 billion (down 19.7%), and profit attributable to owners of parent ¥53.0 billion (down 8.1%).

• Ordinary profit forecast excluding inventory valuation is ¥165.0 billion; profit attributable to owners of parent excluding inventory valuation is ¥84.0 billion.

• Dividend per share planned at ¥330 (pre-split basis), with a two-for-one stock split effective October 1, 2025.

• Total shareholder return ratio targeted at 60% for FY2025 and over the three-year MTMP period.

• Net income per share forecasted at ¥335.72, reflecting share split and treasury share actions.