Kusuri No Aoki Holdings (3549) Q4 2026 earnings summary

Executive summary

• Revenue rose 13.0% year-over-year to ¥566,865 million, with operating profit up 1.9% and net profit attributable to shareholders down 3.7%.

• Store network expanded to 1,144 locations, including 1,107 drugstores and 31 supermarkets, driven by new openings and acquisitions.

• The company accelerated its "Food & Drug" one-stop shopping model and increased the number of stores with in-house pharmacies.

Financial highlights

• Operating profit: ¥27,096 million (+1.9% YoY); Ordinary profit: ¥27,722 million (+0.8% YoY).

• Net profit attributable to shareholders: ¥17,133 million (-3.7% YoY).

• Comprehensive income: ¥20,618 million (+14.3% YoY).

• Gross margin improved as sales mix shifted toward food and fresh products.

• Segment sales: Health +4.4%, Beauty +6.9%, Life +8.0%, Food (ex-fresh) +16.0%, Fresh +21.4%, Pharmacy +15.3% YoY.

Outlook and guidance

• FY2027 forecast: Revenue ¥640,000 million (+12.9% YoY), operating profit ¥32,000 million (+18.1%), net profit ¥19,000 million (+10.9%).

• Plans to open 90 new drugstores and 31 new in-store pharmacies, focusing on dominant market expansion and food category growth.

• Industry environment expected to remain challenging due to inflation, labor costs, and competitive pressures.