Seria (2782) Q4 2025 earnings summary

Executive summary

• Achieved record-high revenue for the fiscal year ending March 2025, with revenue up 5.9% year-over-year to ¥236,327 million and strong growth in operating and net income.

• Improved efficiency through lower cost of sales and SG&A expense ratios, and increased operational efficiency with self-checkout adoption.

• Ongoing store network optimization, closing unprofitable locations and expanding in untapped regions, with 125 new directly operated stores opened and 74 closed, bringing the store count to 2,072.

Financial highlights

• Revenue rose 5.9% year-over-year to ¥236.3 billion; operating income increased 11.3% to ¥16.8 billion; net income grew 14.2% to ¥11.2 billion.

• Operating margin improved to 7.1% from 6.8% in the prior year; net margin reached 4.7%.

• Cost of sales ratio decreased by 0.1 points and SG&A ratio by 0.2 points year-over-year; gross margin improved as cost of goods sold ratio fell to 58.6%.

• Cash and equivalents at year-end: ¥54,028 million, down ¥2,197 million from prior year.

• Existing store sales increased 2.9% year-over-year.

Outlook and guidance

• Fiscal 2026 revenue forecast at ¥242.9 billion, a 2.8% increase year-over-year; net income forecast at ¥10.2 billion, down from the previous year.

• Operating income projected to decline to ¥15.3 billion, with margin expected to decrease to 6.3% due to higher personnel costs.

• Operating profit expected to decline 9.1% due to anticipated cost increases, especially labor.

• Store network to expand by 120 new direct stores, with 70 closures planned.

• SG&A ratio expected to rise by 0.9 points due to labor cost increases.