Syuppin (3179) Q2 2025 earnings summary

Executive summary

• Net sales for 2Q FY03/2025 reached 113% year-over-year, totaling ¥26,521 million, with ordinary profit at 123% of the prior year.

• Operating profit increased 24.3% year-over-year to ¥2,020 million, exceeding plan at 111%.

• Net income grew 22.9% year-over-year to ¥1,365 million.

• Online net sales hit a record high, surpassing 10,000 million yen, driven by strong camera business performance.

• Online and store sales both posted double-digit growth, while the watch segment lagged due to market softness.

Financial highlights

• 2Q net sales: 26,521 million yen (113% YoY), operating profit: 2,020 million yen (124% YoY), net income: 1,365 million yen (123% YoY).

• Ordinary profit for the period was ¥2,003 million, up 22.8% year-over-year.

• Gross profit margin improved to 19.2%, SGA expense ratio stable at 11.6%.

• Basic earnings per share increased to ¥63.03 from ¥52.73 year-over-year.

• Used items accounted for 50% of net sales in 2Q.

Outlook and guidance

• Full-year net sales forecast: 56,617 million yen, a 15.9% year-over-year increase.

• Operating profit projected at ¥3,854 million, up 15.3% year-over-year.

• Net income expected to reach ¥2,639 million, a 13.6% year-over-year rise.

• 2Q progress at 47% for operating profit and 52% for net sales.

• Forward-looking statements are subject to risks including market and currency fluctuations.