F&M Co. (4771) Q3 2025 earnings summary

Executive summary

• Revenue for the third quarter/nine months of FY2025 increased 13.9% year-over-year to 12,326 million yen, driven by steady growth in membership and sales across all segments.

• Operating income rose 13.5% year-over-year to 1,863 million yen; net income attributable to shareholders increased 6.7% to 1,237 million yen.

• Growth was led by increased membership and service expansion in core businesses, with all major segments except system development and other businesses showing profit growth.

Financial highlights

• Gross profit margin improved to 68.0%, with gross profit at 8,385 million yen.

• Operating margin remained stable at 15.1%, and EBITDA margin rose to 24.7%.

• EPS for Q3 was 70.70 yen, while for the period it was 84.37 yen, up from 79.53 yen year-over-year.

• Total assets increased to 16,723 million yen, with equity ratio at 75.7%.

• Dividend forecast for the full year is 40 yen per share, unchanged from previous guidance.

Outlook and guidance

• Full-year revenue forecast is 16,680 million yen (+12.2% YoY), with operating income of 1,812 million yen (+14.9%) and net income of 1,358 million yen (+15.6%).

• No changes to previously announced earnings guidance; management notes forecasts are subject to economic and market risks.