Syuppin (3179) Q3 2026 earnings summary

Executive summary

• Net sales for the nine months ended December 31, 2025, were ¥37,909 million, a 4.3% decrease year-over-year and slightly below plan, but profits at all levels exceeded expectations due to lower SGA expenses.

• Operating profit declined 32.6% year-over-year to ¥1,787 million, but reached 122.5% of the revised plan, indicating a recovery from the temporary decline in the first half.

• Ordinary profit fell 33.1% year-over-year to ¥1,762 million.

• Net profit decreased 20.9% year-over-year to ¥1,198 million.

Financial highlights

• 3Q cumulative net sales: ¥37,909 million (95.7% YoY), gross profit: ¥7,094 million (97.0% YoY), operating profit: ¥1,787 million (67.4% YoY), net income: ¥1,198 million (79.1% YoY).

• 3Q single-quarter operating profit exceeded plan, with a 72% progress rate toward the full-year plan.

• SGA expenses increased due to higher promotion and personnel costs, but remained below plan.

• Basic earnings per share for the nine months was ¥55.67, down from ¥69.76 in the prior year.

• Total assets as of December 31, 2025, were ¥19,501 million, up from ¥18,088 million as of March 31, 2025.

Outlook and guidance

• Recovery trend observed in the second half, with operating profit and net income exceeding revised plans.

• Full-year net sales forecast is ¥51,699 million, a 1.8% decrease year-over-year.

• Operating profit is projected at ¥2,486 million, down 26.8% year-over-year.

• Net profit expected to be ¥1,637 million, a 19.0% decrease year-over-year.

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