Yokorei (2874) Q4 2025 earnings summary

Executive summary

• Revenue increased 2.7% year-over-year to ¥125.56 billion, driven by strong demand in the refrigerated warehouse segment, while operating profit declined 8.8% due to rising costs in the food sales segment.

• Profit attributable to owners of the parent declined 49.7% year-over-year to ¥1.98 billion.

• The business environment remained challenging due to rising costs and consumer thriftiness, despite a recovering Japanese economy.

Financial highlights

• Operating profit was ¥4.24 billion, down 8.8% year-over-year; net income attributable to shareholders fell 49.7% to ¥1.98 billion.

• EBITDA rose 4.1% to ¥12.5 billion; gross profit margin improved slightly to 11.3%.

• Capital expenditures totaled ¥16.9 billion, mainly for new logistics centers.

• Total assets increased to ¥209,034 million, and net assets rose to ¥82,417 million.

• Cash and cash equivalents at year-end were ¥3,649 million, up ¥177 million from the previous year.

Outlook and guidance

• FY2026 revenue is forecast to decrease 6% to ¥118 billion, but operating profit is expected to rise 13.3% to ¥4.8 billion.

• Net income is projected to increase 51.6% to ¥3 billion.

• Dividend forecast is ¥24 per share, continuing a long-term progressive dividend policy.

• The company is implementing a new medium-term management plan, "The Power to Connect," targeting sustainable growth and environmental initiatives.