Maruzen (5982) Q2 2027 earnings summary

Executive summary

• H1 revenue ¥36,145m, up 8.2% YoY; operating income ¥3,688m, up 12.6%; ordinary income ¥4,114m, up 12.8%; net income ¥2,841m, up 10.2%.

• Growth was led by commercial kitchen equipment sales to restaurant chains and food supermarkets, plus large project deliveries in bakery machinery.

Financial highlights

• Gross profit ¥10,119m versus ¥9,377m YoY; selling, general and administrative expenses ¥6,431m versus ¥6,101m.

• H1 comprehensive income ¥2,871m versus ¥2,556m YoY; EPS ¥178.66 versus ¥162.71.

• Total assets ¥75,370m, up ¥821m from FY-end; net assets ¥54,067m, up ¥1,774m; liabilities ¥21,302m, down ¥905m.

Outlook and guidance

• FY2027 guidance unchanged: revenue ¥67,000m (+0.3%), operating income ¥6,700m (+1.0%), ordinary income ¥7,400m (+0.8%), and net income ¥5,300m (+1.6%).

• FY EPS forecast ¥333.04; annual dividend forecast ¥125/share, with no change to the latest dividend forecast.