Kusuri No Aoki Holdings (3549) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 FY2026 rose 16.1% year-over-year to ¥139,735 million, driven by strong demand for seasonal and inbound products, despite intensified competition and economic uncertainty.

• Operating profit declined 1.0% year-over-year to ¥7,263 million, and net profit attributable to shareholders fell 4.1% to ¥5,033 million.

• Eleven new stores were opened, and the acquisition of Miwa Shoten (supermarket) was completed, expanding the group to 1,042 stores.

Financial highlights

• Gross profit increased to ¥36,936 million from ¥32,395 million year-over-year.

• Operating margin declined due to higher SG&A expenses; operating profit margin was 5.2% (down from 6.1%).

• EPS for Q1 was ¥50.25, down from ¥55.50 year-over-year.

• Comprehensive income rose to ¥5,669 million (up 11.6% year-over-year).

Outlook and guidance

• Full-year revenue forecast is ¥560,000 million (+11.7% year-over-year), with operating profit expected to decline 13.5% to ¥23,000 million.

• No change to previously announced guidance; management expects business to progress as planned.

• Excluding prior year stock compensation costs, operating profit is expected to decrease 14.8% year-over-year.