Sugi Holdings (7649) Q3 2025 earnings summary

Executive summary

• Net sales for the nine months ended November 30, 2024, rose 15.1% year-over-year to ¥634.6 billion, driven by strong sales of health and beauty care products, daily necessities, food, and a recovery in personal consumption and inbound demand.

• Profit attributable to owners of parent increased 17.4% year-over-year to ¥19.1 billion.

• The consolidation of I & H Co., Ltd. as a subsidiary in September 2024 contributed to business growth and accelerated overall performance.

• Comprehensive income for the period was ¥18.4 billion, up 15.5% from the previous year.

• Upward revision of full-year earnings forecast due to better-than-expected results and new subsidiary contribution.

Financial highlights

• Net sales for Q3 FY2025/2 reached ¥634.6 billion, up 15.1% year-over-year.

• EBITDA for Q3 FY2025/2 was ¥41.5 billion, up 14.8% year-over-year.

• Operating income for Q3 FY2025/2 was ¥28.8 billion, up 11.1% year-over-year.

• Ordinary income rose 12.2% year-over-year to ¥30.4 billion.

• Basic net income per share was ¥105.36, reflecting a stock split adjustment.

Outlook and guidance

• Full-year net sales forecast revised upward to ¥875 billion, an 8% increase from the previous forecast and up 17.5% from the previous period.

• Full-year EBITDA projected at ¥59 billion, up 16.1% year-over-year.

• Operating income forecast at ¥41 billion, up 12.0% year-over-year.

• Net income forecast for the year raised to ¥25.5 billion, up 2% from the previous forecast and 16.0% year-over-year.

• No change to the dividend forecast; dividend for FY ending February 2025 is ¥35.00 per share (post-split basis).