Crops Corporation (9428) Q4 2025 earnings summary

Executive summary

• Revenue increased 13.0% year-over-year to ¥61,568 million, driven by strong sales in mobile communications and store subleasing businesses.

• Operating income rose 13.6% to ¥2,416 million, and ordinary income grew 13.7% to ¥2,634 million year-over-year.

• Net income attributable to parent shareholders declined 17.8% to ¥991 million due to a one-time loss from employee fraud at an overseas subsidiary.

Financial highlights

• Gross profit increased to ¥15,179 million from ¥13,678 million year-over-year.

• Operating margin improved to 3.9% from 3.9% year-over-year; ordinary margin rose to 4.3%.

• EPS was ¥104.81, down from ¥127.54 the previous year.

• Total assets grew 8.2% to ¥36,107 million; net assets increased 8.5% to ¥14,346 million.

• Cash and equivalents at year-end were ¥8,301 million, up ¥828 million year-over-year.

Outlook and guidance

• FY2026 revenue is forecast at ¥65,644 million (+6.6% YoY), operating income at ¥2,974 million (+23.1%), and net income at ¥1,576 million (+59.0%).

• Dividend per share is projected to rise to ¥34, targeting a payout ratio of about 20%.