Marui Group (8252) Q1 2025 earnings summary

Executive summary

• Operating revenue rose 12% year-on-year to ¥59.7 billion, with operating profit up 29% to ¥10.2 billion and net income up 43% to ¥6.2 billion, driven by record-high group transactions and strong FinTech performance.

• EPS increased 44% year-on-year to ¥33.1, reflecting higher profits and improved business mix.

• Group transactions reached ¥1,174.6 billion (+10% YoY), led by FinTech's card credit transactions.

Financial highlights

• Operating revenue: ¥59.7 billion (+12% YoY); operating profit: ¥10.2 billion (+29% YoY); ordinary profit: ¥9.3 billion (+25% YoY); net income: ¥6.2 billion (+43% YoY).

• EPS: ¥33.06 (vs. ¥22.91 last year); book value per share: ¥1,322.11 (down from ¥1,348.13 at March 31, 2024).

• Recurring revenue (gross profit basis): ¥36.9 billion (+8% YoY), accounting for 67.9% of gross profit.

• Total assets: ¥1,085.7 billion (+¥82.2 billion from March 31, 2024); equity ratio: 22.8% (down 2.4 pts from March 31, 2024).

• Interest-bearing debt: ¥692.5 billion (+¥98.1 billion from March 31, 2024).

Outlook and guidance

• FY2025 forecast: operating revenue ¥254.2 billion (+8% YoY), operating profit ¥45.0 billion (+10% YoY), net income ¥26.5 billion (+7% YoY), EPS ¥141.4 (+8% YoY), ROE 10.4%.

• Group transactions forecast at ¥4,980 billion (+11% YoY); annual dividend forecast raised to ¥106 per share (+5% YoY), marking the 13th consecutive increase.

• Retailing segment operating profit forecast at ¥8.5 billion (+22% YoY); FinTech segment at ¥44.5 billion (+5% YoY).