AZ-COM MARUWA (9090) Q1 2025 earnings summary

Executive summary

• Net sales for FY2025/3 1Q rose 4.5% year-over-year to ¥49,680 million, driven by expansion in logistics centers and increased operating vehicles.

• Operating profit declined 50.5% year-over-year to ¥1,855 million due to one-time costs from logistics center restructuring, takeover bid expenses, and reduced trunk transportation volume.

• Profit attributable to owners of parent dropped 42.2% year-over-year to ¥1,223 million, impacted by tender offer expenses and increased labor costs.

• The logistics business saw sales growth but a 36.4% decline in segment profit due to one-time costs and reduced trunk line transportation; other businesses posted higher sales and profit.

Financial highlights

• Gross profit decreased 20.0% year-over-year to ¥4,982 million, with cost of sales up 8.2% mainly from higher labor and other costs.

• Ordinary profit fell 45.2% year-over-year to ¥2,057 million; extraordinary losses of ¥15 million were recorded.

• Net assets declined 1.6% to ¥56,623 million, while total assets decreased 0.7% to ¥133,598 million compared to the previous year-end.

• EPS was ¥9.07, down from ¥16.82 in the prior year period.

• Comprehensive income dropped to ¥1,168 million from ¥3,092 million year-over-year.

Outlook and guidance

• Full-year FY2025/3 net sales forecast is ¥240,000 million, up 17.9%–20.9% year-over-year; operating profit projected at ¥7,120–17,100 million, up 5.6%–23.5%.

• Profit attributable to owners of parent expected to reach ¥11,000 million, a 20.6% increase year-over-year.

• Dividend per share forecasted at ¥32.00, up from ¥30.00 in the previous year.

• No changes to previously announced earnings or dividend forecasts.