Marui Group (8252) Q4 2026 earnings summary

Executive summary

• EPS rose 11% year-over-year to ¥158.4, with ROE at 11.6% and ROIC at 4%, all surpassing targets.

• Consolidated operating profit increased 13% to ¥50.2 billion, marking five consecutive years of profit growth.

• Total group transactions reached a record ¥5,392.1 billion (+9% YoY), with both retailing and FinTech segments contributing to growth.

• Retailing and FinTech segments both achieved record operating profits, with FinTech at ¥47.0 billion (+7% YoY) and retailing at ¥11.2 billion (+30% YoY).

• All main KPIs exceeded plans, supported by strong card membership and digital initiatives.

Financial highlights

• Operating profit increased by ¥5.7 billion YoY to ¥50.2 billion, with adjusted operating profit (excluding extraordinary factors) up ¥9.5 billion.

• Net income rose 7% YoY to ¥28.5 billion, despite higher non-operating expenses and extraordinary items.

• Tenant revenue rose by ¥2.3 billion, with transaction volume at 111% of the previous year.

• Card membership reached a record 8.3 million, with 870,000 new cardholders.

• Interest-bearing debt rose to ¥716.3 billion (+¥79.8 billion YoY); equity-to-asset ratio declined to 21.4% (-2.0% YoY).

Outlook and guidance

• FY2027 guidance: revenue ¥296.0 billion (+7% YoY), operating profit ¥55.0 billion (+10%), net income ¥29.5 billion (+4%), EPS ¥164.0 (+4%), ROE 11.8%.

• Retail segment operating profit expected to rise 3% to ¥11.5 billion; FinTech segment to grow 8% to ¥51.0 billion.

• Total group transactions forecast to reach ¥5,900.0 billion (+9% YoY).

• Annual dividend forecast for FY2027 is ¥134 per share (+3 YoY), marking the 15th consecutive year of increases.

• Dividend payout ratio projected at 82.7%, with DOE at 10%.