AZ-COM MARUWA (9090) Q4 2026 earnings summary

Executive summary

• Net sales for FY2026/3 rose 10.6% year-over-year to ¥230.5 billion, surpassing forecasts by 4.8%.

• Operating profit increased 8.3% year-over-year to ¥11.86 billion, with a profit margin of 5.1%.

• Profit attributable to owners of parent grew 2.4% year-over-year to ¥7.45 billion.

• Growth was driven by expansion in 3PL, e-commerce transportation, increased logistics volumes, and new logistics centers, despite higher costs and one-time expenses.

• Comprehensive income surged 26.3% year-over-year to ¥9.38 billion, reflecting improved valuation gains.

Financial highlights

• Gross profit rose 3.1% year-over-year to ¥22.07 billion, while SG&A expenses decreased 2.4%.

• Ordinary profit increased 7.7% year-over-year to ¥12.53 billion.

• Cash flows from operating activities improved to ¥13.36 billion, while investing activities used ¥39.17 billion, mainly for property and equipment.

• Cash and cash equivalents at year-end decreased to ¥19.98 billion from ¥41.14 billion.

• Equity ratio stood at 40.1%, with net assets per share at ¥463.25.

Outlook and guidance

• FY2027/3 net sales forecasted at ¥250 billion (+8.4% YoY), operating profit at ¥13.8 billion (+16.3% YoY), and profit attributable to owners at ¥8.3 billion (+11.4% YoY).

• Planned rate revisions, expansion of existing businesses, and investments in IT, DX, and workforce realignment expected to drive growth.

• Dividend per share maintained at ¥32, with a payout ratio target of 40–52.1%.

• The company aims for ¥500 billion in net sales by FY2030, accelerating structural reforms.