Makiya Co (9890) Q4 2025 earnings summary

Executive summary

• Achieved record-high consolidated revenue and net income for the fiscal year ended March 2025, driven by strong performance in both food and non-food segments, and the contribution of the EC business.

• Revenue increased 15.8% year-over-year to ¥88,820 million, with operating profit up 1.7% to ¥2,266 million and net income attributable to shareholders rising 3.0% to ¥1,497 million.

• Growth was supported by improved product assortment, pricing strategies, digital transformation, and increased customer visits and purchase amounts.

• Operational improvements included new store openings, major renovations, and enhanced group synergies, particularly in EC and reuse businesses.

Financial highlights

• Consolidated revenue rose 15.8% year-over-year to ¥88,820 million, with net income up 3.0% to ¥1,497 million.

• Operating income increased 1.7% year-over-year to ¥2,266 million, while ordinary/recurring income declined 1.3% to ¥2,366 million due to higher non-operating expenses.

• EPS improved to ¥149.86, up 2.9% year-over-year.

• Gross profit margin improved, with gross profit up 22.4% year-over-year.

• Comprehensive income was ¥1,639 million, down 7.0% year-over-year.

Outlook and guidance

• For the fiscal year ending March 2026, plans for 6.5% revenue growth and 2.3% net income growth, targeting ¥93,800 million in revenue and ¥1,520 million in net income.

• For the next fiscal year, revenue is forecast to rise 5.6% to ¥93,800 million, with operating profit up 2.8% and net income up 1.5%.

• Continued focus on maximizing sales through new store contributions, EC expansion, and profitability initiatives such as EDLP, group synergies, cost control, private brand expansion, and inventory optimization.

• Dividend per share planned to increase to ¥30 for the next fiscal year.