Ichibanya (7630) Q2 2025 earnings summary

Executive summary

• H1 FY2/25 store sales were ¥56,605 million, up 10.5% YoY; net sales were ¥29,599 million, up 10.4%.

• Operating profit fell 2.5% to ¥2,405 million, while profit attributable to owners rose 9.6% to ¥1,554 million.

• Comprehensive income increased to ¥2.11 billion from ¥1.79 billion, including a ¥472 million foreign currency translation adjustment.

Financial highlights

• Gross profit increased to ¥14.68 billion from ¥12.95 billion; SG&A expenses rose to ¥12.27 billion.

• Ordinary profit decreased 4.1% YoY to ¥2,499 million; pretax interim profit rose 6.1% to ¥2,377 million.

• Earnings per share was ¥9.75, up from ¥8.89; total assets were ¥44.7 billion and net assets ¥32.25 billion at August 31, 2024.

• Domestic store sales reached ¥47,406 million, up 9.7% YoY and ¥973 million above plan.

Outlook and guidance

• FY2/25 forecast: store sales ¥118,280 million, revenue ¥61,500 million, operating profit ¥5,200 million, ordinary profit ¥5,400 million, and net income ¥3,100 million.

• Forecast YoY growth: revenue 11.5%, operating profit 10.3%, ordinary profit 7.5%, and net income 15.4%; full-year EPS forecast is ¥19.43.

• Full-year existing domestic CoCo Ichibanya store sales assumption is 111.2% of prior year, with customer count at 101.1% and average spend at 110.0%.

• Full-year raw-material costs are forecast ¥1,551 million above prior year and ¥579 million above plan; uncooked rice is the largest listed increase at ¥695 million YoY.