Retail Partners (8167) Q3 2025 earnings summary

Executive summary

• Revenue increased 5.9% year-over-year to ¥198,891 million for the nine months ended November 30, 2024, marking a record high, driven by new store openings and M&A activity.

• Operating income declined 5.9% year-over-year to ¥4,527 million, and net income attributable to shareholders decreased 2.5% to ¥3,497 million, reflecting higher costs and investments.

• The group launched new online grocery services and expanded logistics infrastructure to enhance efficiency and customer reach.

Financial highlights

• Operating revenue: ¥198,891 million (+5.9% YoY); Operating income: ¥4,527 million (−5.9% YoY); Net income: ¥3,497 million (−2.5% YoY).

• Comprehensive income fell 45.9% year-over-year to ¥2,842 million.

• Total assets at period-end: ¥127,959 million; Net assets: ¥82,540 million; Equity ratio: 64.5%.

Outlook and guidance

• Full-year revenue forecast: ¥261,800 million (+3.8% YoY); Operating income: ¥7,100 million (+5.3% YoY); Net income: ¥5,200 million (+10.2% YoY).

• No change to previously announced guidance.

• Year-end dividend forecast raised to ¥38.00 per share, including a ¥10.00 commemorative dividend.