Kusuri No Aoki Holdings (3549) Q3 2025 earnings summary

Executive summary

• Nine-month sales rose 13.8% YoY to ¥371,883 million; operating profit increased to ¥19,947 million and profit attributable to owners of parent to ¥13,935 million.

• Reported earnings growth was amplified by lower share-based remuneration expense versus the prior-year period; excluding this expense, profit attributable to owners of parent declined 2.4% YoY.

Financial highlights

• Net sales were ¥371,883 million versus ¥326,710 million; gross profit was ¥97,757 million versus ¥88,893 million.

• Operating profit was ¥19,947 million versus ¥13,479 million; ordinary profit was ¥20,486 million versus ¥13,998 million.

• Profit attributable to owners of parent was ¥13,935 million versus ¥8,266 million; comprehensive income was ¥13,895 million versus ¥8,673 million.

Outlook and guidance

• FY ending May 20, 2025 forecast: sales ¥485,000 million, operating profit ¥25,107 million, ordinary profit ¥25,607 million and parent-attributable profit ¥18,107 million; forecasts unchanged.

• Forecast EPS is ¥191.41; reported YoY growth forecasts are 11.0% for sales, 35.2% for operating profit, 27.4% for ordinary profit and 47.1% for parent-attributable profit.

• Excluding share remuneration expense, forecast operating profit is ¥25,500 million (+0.5% YoY), ordinary profit ¥26,000 million (-3.4%) and parent-attributable profit ¥18,500 million (-3.2%).

• Excluding share remuneration expense, forecast EPS is ¥195.57.