Ichibanya (7630) Q4 2025 earnings summary

Executive summary

• FY25 store sales rose 9.4% YoY to ¥115,334m and net sales rose 10.6% to ¥61,006m; operating profit increased 4.5% to ¥4,925m.

• Profit attributable to owners of parent increased 18.1% to ¥3,171m; ordinary profit rose 3.4% to ¥5,194m.

• Price revisions supported sales, while higher procurement and head-office costs weighed on operating profit.

Financial highlights

• Revenue was 0.8% below plan and operating profit was 5.3% below plan, a ¥274m shortfall; net income attributable to owners was 2.3% above plan.

• Gross profit rose to ¥30,520m from ¥26,806m; SG&A increased to ¥25,595m from ¥22,091m.

• Operating cash flow was ¥5,318m, down from ¥6,086m; period-end cash and cash equivalents were ¥15,264m versus ¥15,707m.

• Return on equity improved to 10.1% from 8.7%; operating profit margin was 8.1%, down from 8.6%.

• Impairment losses were ¥520m, down ¥185m YoY; gains on store sales were ¥121m, up ¥86m.

Outlook and guidance

• FY26 plan: store sales ¥121,200m (+5.1%), net sales ¥67,300m (+10.3%), operating profit ¥5,400m (+9.6%), and profit attributable to owners ¥3,300m (+4.0%).

• FY26 ordinary profit is forecast at ¥5,500m (+5.9%); basic EPS is ¥20.68.

• Domestic CoCo Ichibanya comparable-store sales are forecast at 101.6% of prior year, with customer count at 98.0% and average spend at 103.6%.

• FY26 procurement costs are forecast to rise ¥3,362m YoY, including ¥2,437m for rice.

• Overseas operating-profit target is ¥2,500m by FY30, with 390 stores versus 216 in FY25.