Seria (2782) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 FY2026 rose 4.1% year-over-year to ¥60,498 million, with operating profit up 4.5% to ¥4,144 million and net profit up 4.7% to ¥2,797 million.

• Existing store sales exceeded expectations at 101.4% of the prior year, with 14 new stores opened and 13 closed, totaling 2,073 stores at quarter-end.

• Gross margin improved as cost of goods sold ratio fell by 0.2 points year-over-year, while SG&A expenses rose slightly faster than sales, increasing the SG&A ratio by 0.1 points.

Financial highlights

• Operating margin for Q1 FY2026 was 6.9%, up from 6.8% in the prior year.

• Total assets at quarter-end were ¥138,494 million, down ¥3,002 million from the previous year-end, mainly due to a decrease in cash and deposits.

• Net assets increased by ¥166 million to ¥108,169 million, with an equity ratio of 78.1%, up 1.8 points from year-end.

• EPS for Q1 FY2026 was ¥37.18, up from ¥35.50 year-over-year.

Outlook and guidance

• Full-year revenue forecast revised upward to ¥243,700 million (+3.1% YoY), with operating profit expected at ¥15,900 million (+3.9% vs previous forecast), and net profit at ¥10,650 million (+4.4% vs previous forecast).

• Interim and full-year dividend forecasts maintained at ¥35 and ¥70 per share, respectively.

• Guidance reflects the impact of a share buyback resolved in June 2025.