AZ-COM MARUWA (9090) Q3 2025 earnings summary

Executive summary

• Net sales for FY2025/3 3Q rose 5.0% year-over-year to ¥157,644 million, but operating profit fell 22.7% to ¥8,944 million and profit attributable to owners of parent declined 19.9% to ¥5,958 million, mainly due to increased costs and one-time expenses related to a tender offer.

• The logistics business saw a 4.9% year-over-year increase in net sales, but segment profit dropped 19.5% due to higher costs and operational investments.

• The company maintained its full-year forecast, expecting net sales of ¥207,000 million (+4.3%), operating profit to decline 19.1%, and profit attributable to owners of parent to decrease 15.6%.

Financial highlights

• Gross profit decreased 9.7% year-over-year, while cost of sales increased 7.1%, mainly due to higher labor costs (+12.2%).

• Ordinary profit dropped 22.1% year-over-year to ¥9,402 million, with extraordinary income up 441.4% but offset by higher extraordinary losses.

• Total assets increased to ¥138,598 million, up 3.0% year-over-year.

• Net assets rose to ¥59,252 million, up ¥1,710 million from March 31, 2024.

• Earnings per share for the period were ¥44.21, compared to ¥58.74 in the prior year.

Outlook and guidance

• FY2025/3 full-year net sales forecast at ¥207,000 million (+4.3% year-over-year), with operating profit expected to decline 19.1% and profit attributable to owners of parent to decrease 15.6%.

• Dividend per share planned to increase by ¥2.00 to ¥32.00, marking six consecutive years of dividend growth.

• Management expects continued business expansion in core logistics segments and ongoing cost management initiatives.