Tsuruha Holdings (3391) Q1 2026 earnings summary

Executive summary

• Net sales for the quarter were ¥272.5 billion, with operating income of ¥12.4 billion, both slightly above plan.

• Net income attributable to owners was ¥11.1 billion.

• 31 new stores opened and 10 closed, resulting in 2,679 directly managed stores at quarter-end.

• Business integration with WELCIA HOLDINGS and AEON CO. is scheduled for December 1, 2025, with ongoing synergy projects and personnel exchanges.

• Existing store sales increased 2.6% year-over-year, with higher sales composition in pharmaceuticals and food.

Financial highlights

• Gross profit was ¥82.4 billion (30.2–30.3% of sales), and net income attributable to owners was ¥11.1 billion.

• Operating income margin improved to 4.6% from 2.7% in the previous quarter.

• Extraordinary items included a ¥6.6 billion gain on sale of investment securities and a ¥0.8 billion provision for loss on store closures.

• Basic earnings per share for the quarter were ¥228.31.

• Total assets increased to ¥609,883 million, up ¥26,520 million from the previous fiscal year-end.

Outlook and guidance

• H1 forecast: net sales of ¥556,600 million, operating income of ¥25,600 million, and net income of ¥15,300 million.

• H1 earnings and dividend forecasts remain unchanged; full-year earnings and year-end dividend forecasts have been withdrawn pending assessment of business integration impacts.

• Full-year guidance will be disclosed once available.