Kusuri No Aoki Holdings (3549) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended February 2025 rose 13.8% year-over-year to ¥371,883 million, with operating profit up 48.0% and net profit attributable to shareholders up 68.6%.

• Growth was driven by strong sales in food, beauty, and pharmacy segments, new store openings, and acquisitions of supermarket chains.

• The group operated 989 stores at period-end, including 960 drugstores (653 with pharmacies), 6 standalone pharmacies, and 23 supermarkets.

Financial highlights

• Operating profit reached ¥19,947 million, up 48.0% year-over-year; recurring profit was ¥20,486 million, up 46.3%.

• Net profit attributable to shareholders was ¥13,935 million, up 68.6% year-over-year.

• EPS for the period was ¥137.65, compared to ¥87.39 in the prior year.

• Excluding stock compensation expenses, operating profit was ¥20,340 million (+2.2%), recurring profit ¥20,879 million (+2.3%), and net profit ¥14,328 million (−2.4%).

• Comprehensive income was ¥13,895 million, up 60.2% year-over-year.

Outlook and guidance

• Full-year revenue forecast is ¥485,000 million (+11.0%), with operating profit of ¥25,107 million (+35.2%) and net profit of ¥18,107 million (+47.1%).

• Excluding stock compensation, full-year operating profit is forecast at ¥25,500 million (+0.5%), recurring profit ¥26,000 million (−3.4%), and net profit ¥18,500 million (−3.2%).

• No change to previously announced guidance as performance is tracking to plan.