I-ne CO (4933) Q2 2026 earnings summary

Executive summary

• 1H FY26 net sales rose 20.1% YoY to ¥26,808 million; all categories recorded double-digit growth, led by skincare and other at +52.3%.

• Operating profit increased 19.2% to ¥2,012 million, EBITDA rose 13.5% to ¥2,891 million, and ordinary profit grew 20.4% to ¥1,911 million.

• Profit attributable to owners of parent rose 13.5% to ¥1,047 million; basic EPS was ¥58.92, up from ¥52.81.

• FY26 guidance was raised: net sales by ¥3.0bn and EBITDA and operating profit by ¥0.5bn each versus initial guidance.

Financial highlights

• Gross profit increased to ¥10,365 million from ¥9,452 million, while SG&A rose to ¥16,443 million.

• Cost of sales ratio improved 3.7 percentage points YoY, supported by inventory clearance, lower appliance intermediary margins and favorable category mix.

• Advertising and promotion investment increased by ¥1.4bn; its ratio rose 5.4 percentage points as strategic investment continued.

• Total assets were ¥33,419 million at June 30, 2026, versus ¥37,060 million at year-end; equity-to-asset ratio improved to 53.1% from 49.8%.

Outlook and guidance

• FY26 net sales guidance rose to ¥55–57bn from ¥52–54bn, implying 12.3–14.1% YoY growth.

• FY26 EBITDA guidance rose to ¥1.7–3.2bn and operating profit guidance to ¥0–1.5bn; operating profit is forecast to decline 43.1–69.8% YoY.

• Strategic investment will continue in H2, alongside efforts to accelerate top-line growth and develop new growth drivers.

• FY26 dividend forecast is ¥15 per share.