Demae-Can (2484) Q3 2025 earnings summary

Executive summary

• Entered a new growth phase after establishing a sustainable business model by strengthening financial foundation and product competitiveness.

• Net sales for the nine months ended May 31, 2025, decreased by 20.8% year-over-year to ¥30,170 million, reflecting a change in coupon cost accounting and lower order volume.

• Operating loss narrowed to ¥3,075 million from ¥5,198 million year-over-year, with ordinary loss at ¥3,105 million and net loss attributable to owners at ¥3,113 million.

• Resumed strategic investments to drive top-line growth and business expansion in the domestic food delivery market.

• Focused on improving user, rider, and merchant satisfaction, optimizing costs, and enhancing service quality.

Financial highlights

• 3Q FY2025 revenue was 9.2bn yen, a YoY decrease of 2.0bn yen; operating loss increased by 0.9bn yen to 1.7bn yen.

• Gross Merchandise Value (GMV) for 3Q FY2025 was 41.4bn yen, down from 46.8bn yen YoY.

• Gross profit declined to ¥4,402 million from ¥8,481 million year-over-year.

• Total assets decreased to ¥40,334 million as of May 31, 2025, from ¥47,943 million as of August 31, 2024.

• Net assets fell to ¥30,484 million, mainly due to net loss and increased treasury stock.

Outlook and guidance

• Full-year FY2025 revenue guidance revised down to 39.5bn yen (from 53.0bn yen initial), with an operating loss of 4.8bn yen.

• Full-year sales forecast revised to ¥39.5 billion (¥43.7 billion before coupon cost deduction), with operating loss projected at ¥4.8 billion.

• No dividend is planned for the fiscal year ending August 31, 2025.

• Focus remains on expanding the food delivery market, reclaiming the No.1 position, and achieving sustainable profit through top-line growth.

• Earnings forecast for the next fiscal year will be provided at the full-year earnings release.