KOSÉ (4922) Q4 2025 earnings summary

Executive summary

• Net sales for FY2025 rose 2.3% year-over-year to ¥330.1 billion, with growth in Japan and Asia offsetting flat performance in North America and others.

• Operating profit increased 6.3% year-over-year to ¥18.4 billion, driven by improved profitability in core businesses despite higher logistics and administrative costs.

• Profit attributable to owners of parent more than doubled year-over-year to ¥15.1 billion, aided by lower income taxes and absence of prior-year China restructuring losses.

Financial highlights

• Gross profit rose 2.4% year-over-year to ¥227.9 billion, maintaining a 69.0% gross margin.

• Operating margin improved to 5.6% from 5.4% year-over-year.

• ROE increased to 5.4% and ROIC to 3.7% for FY2025.

• E-commerce sales grew 18.2% year-over-year, with notable gains in Japan and North America.

Outlook and guidance

• FY2026 net sales are forecast to rise 6.0% to ¥350 billion, with operating profit up 8.3% to ¥20 billion.

• Profit attributable to owners of parent is expected to decline 19.9% to ¥12.1 billion due to higher depreciation and administrative costs.

• Dividend per share planned at ¥150 for FY2026, including a ¥10 commemorative dividend; share buyback up to ¥3.0 billion announced.