Kusuri No Aoki Holdings (3549) Q3 2026 earnings summary

Executive summary

• Nine months ended Feb. 20, 2026: sales ¥422,807m (+13.7% YoY), operating profit ¥21,420m (+7.4%), ordinary profit ¥21,835m (+6.6%), and net income attributable to owners of parent ¥15,376m (+10.3%).

• Results were largely in line with projections; the FY ending May 20, 2026 earnings forecast remained unchanged.

Financial highlights

• Gross profit rose to ¥111,791m from ¥97,757m; SG&A increased to ¥90,371m from ¥77,810m for the nine-month period.

• Comprehensive income was ¥18,322m, versus ¥13,895m a year earlier, including a ¥2,946m valuation gain on available-for-sale securities.

• Q3 YoY profit growth excluding the prior-year ¥392m stock compensation expense: operating profit +5.3%, ordinary profit +4.6%, and net income +7.3%.

Outlook and guidance

• FY2026 forecast: sales ¥560,000m (+11.7% YoY), operating profit ¥23,000m (-13.5%), ordinary profit ¥22,700m (-17.5%), and net income attributable to owners of parent ¥15,500m (-12.9%).

• FY forecast excluding stock compensation expense: operating profit -14.8%, ordinary profit -18.7%, and net income attributable to owners of parent -14.7% YoY.

• Forecast annual dividend is ¥56 per share, including ¥8 ordinary and ¥40 commemorative year-end dividend; no dividend forecast revision was made.