Seven & i Holdings (3382) Q2 2026 earnings summary

Executive summary

• Operating income for the first half of FY2025 was JPY 208.3 billion, up 11.4% year-on-year and 5.8% above plan, driven by strong domestic and overseas CVS performance.

• Net income attributable to owners of parent surged 133.1% year-on-year to JPY 121.8 billion, mainly due to reduced extraordinary losses and gains from asset sales.

• Revenues from operations declined 6.9% year-on-year to JPY 5,616.6 billion, primarily due to lower retail fuel prices overseas.

• Strategic transformation programs, including cost discipline, product innovation, and digital initiatives, are underway and delivering results.

• Major divestitures of Seven Bank and superstore businesses were completed, focusing the group on global convenience store operations.

Financial highlights

• EBITDA for the first half was JPY 485.4 billion, up from JPY 471.5 billion year-on-year.

• EPS before goodwill amortization rose to JPY 68.76, up from JPY 38.87 year-on-year.

• Special losses dropped significantly to JPY 31.2 billion from JPY 86.2 billion in the prior year.

• Comprehensive income was a loss of JPY 123.8 billion, mainly due to foreign currency translation adjustments.

• Goodwill amortization was JPY 69.2 billion.

Outlook and guidance

• Full-year net income forecast was raised to JPY 265.0 billion, while operating income and revenue forecasts were revised downward.

• EPS for FY2025 is projected at JPY 107.66, with run-rate EPS expected to reach JPY 159.37 due to share buybacks.

• Annual dividend forecast set at JPY 50.0 per share, up from JPY 40.0 in the prior year.

• Guidance revisions reflect expected gains from business divestitures and ongoing transformation programs.