Makiya Co (9890) Q3 2026 earnings summary

Executive summary

• Revenue increased 5.5% year-over-year to ¥70,232 million for the third quarter and 5.4% to ¥70,705 million for the nine months ended December 31, 2025, driven by strong performance in food and EC segments.

• Operating income declined 5.9% year-over-year to ¥1,704 million due to higher selling, general, and administrative expenses.

• Net income attributable to shareholders decreased 10.6% year-over-year to ¥1,120 million, impacted by a ¥100 million special loss from store closures.

• The company focused on maximizing sales through everyday low pricing, expanding EC and Daiso segments, and improving productivity and sustainability initiatives.

• Store network expanded with new and remodeled locations, and community engagement was enhanced through local events.

Financial highlights

• Gross profit rose 2.4% year-over-year to ¥16,297 million, with a gross margin of 23.2%.

• SG&A expenses increased 3.4% year-over-year, mainly from higher personnel and utility costs, and new property taxes.

• EPS declined to ¥112.05 from ¥125.47 year-over-year.

• Total assets grew to ¥42,163 million, with equity ratio at 52.0%.

• Ordinary profit was ¥1,793 million, down 5.5% year-over-year.

Outlook and guidance

• Full-year revenue forecast is ¥94,427 million (up 5.6% year-over-year), with operating profit forecast at ¥2,330 million (up 2.8%).

• No changes to previously announced guidance; dividend forecast is ¥30 per share for the year.

• EC business sales grew 7.7% year-over-year, with continued strength expected.

• Food segment remains robust, especially in fresh, daily, and grocery categories.