Kusuri No Aoki Holdings (3549) Q2 2025 earnings summary

Executive summary

• Revenue for the first half of FY2025 rose 12.6% year-over-year to ¥242.8 billion, with operating profit up 85.5% and net profit attributable to shareholders up 151.9%.

• Growth driven by new store openings, expanded pharmacy operations, and supermarket acquisitions.

• Store count reached 975, including 951 drugstores (634 with pharmacies), 6 pharmacy-only stores, and 18 supermarkets.

Financial highlights

• Operating profit: ¥12.65 billion (up 85.5% YoY); recurring profit: ¥12.91 billion (up 84.9% YoY); net profit: ¥8.62 billion (up 151.9% YoY).

• EPS for the period: ¥86.39, compared to ¥36.18 in the prior year.

• Excluding stock compensation expenses, operating profit was ¥13.04 billion (up 1.6% YoY), net profit ¥9.02 billion (down 4.5% YoY).

• Comprehensive income: ¥8.30 billion (up 120.2% YoY).

Outlook and guidance

• Full-year revenue forecast: ¥485 billion (up 11.0% YoY); operating profit: ¥25.11 billion (up 35.2% YoY); net profit: ¥18.11 billion (up 47.1% YoY).

• No change to previously announced full-year guidance.

• Excluding stock compensation, full-year net profit forecast is ¥18.5 billion (down 3.2% YoY).