Kusuri No Aoki Holdings (3549) Q1 2026 earnings summary

Executive summary

• Q1 FY2026 net sales rose 16.1% YoY to ¥139,735 million; operating profit fell 1.0% to ¥7,263 million and profit attributable to owners of parent fell 4.1% to ¥5,033 million.

• Results were largely in line with projections; full-year guidance remained unchanged.

Financial highlights

• Gross profit increased to ¥36,936 million from ¥32,395 million; SG&A rose to ¥29,672 million from ¥25,055 million.

• Ordinary profit declined 1.6% YoY to ¥7,284 million; basic EPS was ¥50.25 versus ¥55.50.

• Excluding the prior-year ¥392 million stock compensation expense, operating profit declined 6.1%, ordinary profit 6.5%, and parent profit 10.8% YoY.

Outlook and guidance

• FY2026 forecast: sales ¥560,000 million (+11.7% YoY), operating profit ¥23,000 million (-13.5%), ordinary profit ¥22,700 million (-17.5%), and parent profit ¥15,500 million (-12.9%).

• H1 forecast: sales ¥272,000 million (+12.0%), operating profit ¥11,300 million (-10.7%), ordinary profit ¥11,170 million (-13.5%), and parent profit ¥8,000 million (-7.2%).

• Excluding stock compensation expense, FY operating profit, ordinary profit, and parent profit are forecast to decline 14.8%, 18.7%, and 14.7%, respectively; forecasts were unchanged.