Kotobuki Spirits (2222) Q3 2025 earnings summary

Executive summary

• Achieved record-high sales and profits for FY2025 (1Q–3Q), driven by strong inbound sales and new store openings despite rising costs.

• Net sales for the nine months ended December 31, 2024, rose 14.4% year-over-year to ¥53,807 million, with operating profit up 15.4% to ¥13,545 million and net income attributable to owners of parent up 14.2% to ¥9,024 million.

• Inbound sales surged 45.5% year-over-year to 7,409 million yen, with 11 new stores and one rebranded store opened.

• Sucrey’s new Shizuoka factory began phased operations, and a joint venture (KMF) was established in Okinawa for future growth.

• Earnings per share increased to ¥57.99 from ¥50.77 year-over-year.

Financial highlights

• Net sales rose 14.4% year-over-year to 53,807 million yen for FY2025 (1Q–3Q).

• Operating profit increased 15.4% to 13,545 million yen; net profit grew 14.2% to 9,024 million yen.

• EPS was 57.99 yen, up from 50.77 yen year-over-year.

• Gross profit margin improved by 0.2 points to 62.1%.

• Comprehensive income for the nine months was ¥8,993 million, up from ¥7,926 million year-over-year.

Outlook and guidance

• Full-year FY2025 forecast: net sales 70,000 million yen (+9.3% YoY), operating profit 17,530 million yen (+11.1% YoY), net profit 11,800 million yen (+8.9% to 10.9% YoY).

• Forecasted earnings per share for the full year is 75.81 yen.

• Capital investment plan for FY2025 is 3.5 billion yen, focused on new factory construction and productivity improvements.

• Dividend per share forecast maintained at 28 yen.