JINS HOLDINGS (3046) Q4 2026 earnings summary

Executive summary

• FY26 net sales rose 14.4% to ¥111,220 million; operating profit fell 5.3% to ¥11,454 million and profit attributable to owners of parent fell 6.4% to ¥7,797 million.

• EBITDA increased 4.0% to ¥15.7bn; strategic spending and weaker-than-planned Q4 Japan sales and gross margin weighed on operating profit.

• Overseas operating profit rose to ¥2,219 million, up 197.8%, and contributed 19.4% of consolidated operating profit.

Financial highlights

• FY26 gross profit was ¥87,182 million and gross margin was 78.4%, up 0.4pt; SG&A rose 18.8% to ¥75,728 million, taking its ratio to 68.1%.

• Ordinary profit fell 5.0% to ¥11,510 million; extraordinary losses were ¥1,083 million, including ¥741 million in impairment losses.

• FY26 sales increased by ¥14.0bn, comprising ¥8.0bn from Japan and ¥5.9bn from overseas; overseas contributed ~40% of the total increase.

Outlook and guidance

• FY27 forecast: net sales ¥124,270 million (+11.7%), operating profit ¥11,500 million (+0.4%), ordinary profit ¥11,300 million (-1.8%), net income ¥7,800 million and EBITDA ¥17.4bn (+10.9%).

• FY27 gross margin is forecast at 78.3%; assumed exchange rate is ¥160 per US dollar. Operating margins are forecast at 9.3% versus 10.3% in FY26, and EBITDA margins at 14.0% versus 14.2%.

• FY27 priorities include global expansion, new customer experiences, store productivity, optional-lens proposals, balanced pricing, AI and global core-system investment, and cost and process efficiency.

• FY27 forecast EPS is ¥334.10; first-half forecasts are sales ¥57,500 million, operating profit ¥3,860 million and net income ¥2,630 million.