Citizen Watch Co. (7762) Q4 2025 earnings summary

Executive summary

• FY2024 net sales rose 1.3% year-over-year to 316.8–316.9 billion yen, driven by strong watch sales, but operating profit fell 17.9% to 20.5–20.6 billion yen and ordinary profit dropped 25.3% to 23.0 billion yen.

• Profit attributable to owners of parent increased 4.0% to 23.8–23.9 billion yen year-over-year.

• ROE exceeded 8% for the third consecutive year, reaching 9.5–9.7% in FY2024.

• Cash and cash equivalents at year-end increased to 92.6 billion yen, up 12.2 billion yen from the previous year.

Financial highlights

• 4Q FY2024 net sales increased 1.7% year-over-year to 75.1 billion yen, but operating profit declined 5.8% to 1.5 billion yen.

• Gross profit increased to 134.6 billion yen from 131.4 billion yen year-over-year.

• Operating profit margin declined to 6.5% from 8.0% in FY2023.

• Basic earnings per share rose to 97.91 yen from 93.60 yen year-over-year.

• Annual dividend per share increased to 45 yen from 40 yen.

Outlook and guidance

• FY2025 net sales forecasted at 318.0 billion yen (+0.4% year-over-year), with operating profit expected to decrease 2.9% to 20.0 billion yen.

• Profit attributable to owners of parent projected to fall 16.2% to 20.0 billion yen.

• Assumes FX rates of 145 JPY/USD and 160 JPY/EUR.

• Annual dividend per share to increase by 2 yen to 47 yen.

• Uncertainty remains due to US tariff policies, China’s economic downturn, and inflation.