Trusco Nakayama (9830) Q4 2025 earnings summary

Executive summary

• Net sales for FYE December 2025 rose 8.5% year-over-year to ¥320,043 million, driven by expanded logistics, digital services, and proprietary offerings.

• Operating income increased 14.2% year-over-year to ¥22,816 million.

• Profit attributable to owners of parent declined 1.3% year-over-year to ¥15,881 million, mainly due to a prior-year extraordinary gain from asset sales.

• Comprehensive income decreased 2.6% year-over-year to ¥16,114 million.

• All major sales routes posted growth, with e-business route up 12.9% year-over-year.

Financial highlights

• Gross profit improved to ¥66,731 million from ¥61,683 million year-over-year.

• Operating profit margin rose to 7.1% from 6.8% year-over-year.

• Dividend per share increased to ¥60, up ¥6 from the previous year.

• Private brand sales grew 2.9% year-over-year, but their share of total sales declined to 16.3%.

• Basic earnings per share was ¥240.84, down from ¥244.09 year-over-year.

Outlook and guidance

• For FYE December 2026, net sales are projected to rise 6.5% to ¥341,000 million, with gross profit up 7.6% to ¥71,800 million.

• Operating income and profit attributable to owners of parent are expected to decline due to higher SG&A, especially depreciation from new logistics centers.

• Basic earnings per share forecast at ¥220.50 for fiscal 2026.

• Major capital investments planned include new logistics centers and digital infrastructure upgrades.