Ichibanya (7630) Q2 2027 earnings summary

Executive summary

• H1 revenue rose 10.0% YoY to ¥35,227m, while operating profit fell 17.2% to ¥2,091m and profit attributable to owners fell 20.9% to ¥1,095m.

• Full-year guidance was unchanged; H1 revenue and operating profit were below plan, while ordinary profit exceeded plan.

Financial highlights

• Store sales rose 6.7% to ¥62,232m; domestic store sales rose 5.3% to ¥51,870m.

• Ordinary profit fell 19.1% to ¥2,191m; profit before tax was ¥1,872m, down 12.6%, and basic EPS was ¥6.86 versus ¥8.68.

• Gross profit increased to ¥17,364m from ¥15,963m; SG&A rose to ¥15,272m from ¥13,436m.

• Versus plan, revenue was ¥615m short and operating profit ¥70m short; ordinary profit exceeded plan by ¥54m, while attributable net income was ¥123m below plan.

Outlook and guidance

• FY2027/2 guidance was unchanged: revenue ¥72,600m (+10.8%), operating profit ¥5,000m (+6.0%), ordinary profit ¥5,040m (+1.1%), and attributable net income ¥2,720m (+6.1%).

• Full-year basic EPS is forecast at ¥17.04; the annual dividend forecast is ¥16 per share, including the ¥8 second-quarter dividend.

• H2 domestic CoCo Ichibanya existing-store sales are planned to rise 5.0%, with average spend +5.0% and customer count flat; full-year growth is forecast at 3.7%.