Yellow Hat (9882) Q1 2026 earnings summary

Executive summary

• Achieved record Q1 highs in net sales, gross profit, operating profit, ordinary profit, and profit attributable to owners of parent, driven by strong tire and expendable auto parts sales, robust Golden Week traffic, and the consolidation of Y International, Inc.

• Retail Division net sales rose 22.7% year-over-year to 27,966 million yen; Wholesale Division up 3.2% to 9,698 million yen.

• Four new stores opened and two closed, ending the quarter with 754 stores in the core business and 919 locations across all business lines as of June 30, 2025.

Financial highlights

• Net sales: ¥40,288 million, up 16.2% year-over-year.

• Gross profit: ¥18,293 million, up 17.5% year-over-year.

• Operating profit: ¥3,504 million, up 12.4% year-over-year.

• Ordinary profit: ¥3,870 million, up 11.8% year-over-year.

• Profit attributable to owners of parent: ¥2,677 million, up 18.7% year-over-year.

• Basic EPS: ¥30.33, up 24.3% year-over-year (post two-for-one stock split effective April 1, 2025).

Outlook and guidance

• FY25 full-year forecast: Net sales ¥170.0 billion, operating profit ¥15.9 billion, profit attributable to owners of parent ¥11.4 billion.

• Dividend forecast for FY25/FY2026: ¥58 per share (post-split basis).

• Capital expenditure planned at ¥12.178 billion, mainly for new stores and warehouses.