Coca-Cola Bottlers Japan Holdings (2579) Q4 2025 earnings summary

Executive summary

• Business income for FY2025 reached JPY 24.5 billion, more than double the prior year, exceeding revised plans despite external cost pressures and market challenges.

• Vision 2030 strategic plan launched, targeting business income over JPY 80 billion and ROIC above 10% by 2030, with ambitious shareholder return goals.

• Announced a 20% year-on-year dividend increase to JPY 72 per share and continued JPY 30 billion share buybacks.

• Net loss attributable to owners was JPY 50.8 billion, mainly due to a JPY 88.4–90.5 billion impairment in the vending business.

• Launched new sustainability initiatives and achieved gender diversity targets ahead of schedule.

Financial highlights

• FY2025 revenue was JPY 893.8 billion, up 0.1% year-over-year, with price revisions improving wholesale revenue per case.

• Business income rose by 103.6% to JPY 24.5 billion, driven by cost savings and transformation.

• EBITDA increased by 11.6% to JPY 64.2 billion.

• Gross profit declined by 0.8% year-over-year; SG&A expenses fell 4.1%.

• Operating and net income declined due to impairment losses and restructuring costs.

Outlook and guidance

• FY2026 revenue targeted at JPY 902.7 billion (+1% YoY), with business income of JPY 35 billion (+42.7% YoY).

• EBITDA projected at JPY 70.1 billion, up JPY 5.9 billion.

• Net income forecasted at JPY 22.5 billion, a turnaround from FY2025's net loss.

• 2027 business income target set at JPY 45–50 billion, supporting Vision 2030 goals.

• Dividend per share planned at JPY 72, up 20% year-over-year; share buyback program of JPY 30 billion to continue.