JM Holdings (3539) Q2 2026 earnings summary

Executive summary

• Achieved record-high sales for the second quarter of FY2026, with net sales rising 9.0% year-over-year to ¥101,189 million, driven by strong performance in both existing and new stores.

• Operating profit increased 12.7% to ¥5,604 million and ordinary profit rose 13.0% to ¥5,705 million year-over-year.

• Net income attributable to parent company shareholders declined 11.4% year-over-year to ¥2,508 million, despite higher sales and operating profits.

• Gross profit margin improved to 28.4% from 28.2% year-over-year due to successful price adjustments amid rising procurement costs.

• Special loss of ¥407 million recorded due to store closures, with a focus on reallocating resources to new stores.

Financial highlights

• Total assets as of January 2026 were ¥81,320 million, up from ¥72,721 million in July 2025.

• Net assets increased to ¥47,423 million from ¥45,347 million in July 2025.

• Capital adequacy ratio declined to 58.0% from 62.1% in the previous period.

• Basic earnings per share for the quarter were ¥49.22, down from ¥54.94 a year earlier.

• Dividend per share for the second quarter was ¥12.00, with a full-year forecast of ¥24.00.

Outlook and guidance

• Full-year FY2026 sales forecast at ¥196,000 million, up 8.5% year-over-year.

• Operating income projected at ¥10,900 million (+5.3% year-over-year), ordinary income at ¥11,000 million (+8.4%), and net income at ¥7,000 million (+8.4%).

• Basic earnings per share forecast for the year is ¥137.37, or ¥274.74 if not adjusted for a stock split.

• Existing store sales expected to be 100.4% of the previous year.

• Ongoing focus on growth through new store openings, M&A, and revitalization of existing stores.