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Sapporo Holdings (2501) investor relations material
Sapporo Holdings Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record-high core operating profit and profit attributable to owners, with ROE reaching 9.4%, surpassing the FY2026 target a year early.
Revenue for 2025 was ¥506.9 billion, down 1.1% year-over-year, mainly due to structural reforms in Food & Beverages, despite strong domestic beer sales and price revisions.
Core operating profit increased across all segments, especially in Japan Alcoholic Beverages, due to improved profitability and structural reforms.
Profit attributable to owners of parent increased 152.8% to ¥19.5 billion, reflecting improved operating profit and the absence of prior-year impairment losses.
Real Estate business was classified as discontinued operations following a capital injection agreement with external investors.
Financial highlights
FY2025 revenue was ¥506.9 billion, down 1.1% year-over-year, but core operating profit rose 48.6% to ¥25.0 billion.
EBITDA grew 23.2% to ¥42.0 billion.
Operating profit margin improved to 4.8% from 1.1% year-over-year.
Basic earnings per share increased to ¥50.02 from ¥19.80, reflecting the stock split adjustment.
Equity attributable to owners of parent rose to ¥218.9 billion, with a 33.5% equity ratio.
Outlook and guidance
FY2026 revenue is projected at ¥505.0 billion, with core operating profit expected to decline 12% to ¥22.0 billion.
Profit attributable to owners is forecast to surge to ¥296.0 billion, mainly from gains on real estate capital injection and loss of control over real estate subsidiaries.
ROE is projected to spike to 83.4% in FY2026 due to one-time gains.
Dividend per share to increase from 18 yen in FY2025 to 40 yen in FY2026, with interim dividends introduced and a stock split (5-for-1) effective January 1, 2026.
Segment reporting will shift to Domestic and Overseas Business from 2026.
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