Seria (2782) Q2 2025 earnings summary

Executive summary

• Achieved record-high revenue for the period, with revenue for the six months ended September 2024 rising 8.2% year-over-year to ¥115,899 million, and significant year-over-year growth in sales and profits.

• Operating profit increased 23.7% and net profit rose 25.4%, supported by improved operational efficiency and cost control initiatives.

• Existing store sales exceeded expectations, reaching 105.0% of the prior year.

• Store openings lagged behind plan, with 51 new directly operated stores and 39 closures, totaling 2,033 stores at period-end, while unprofitable store closures proceeded as scheduled.

• Cost and SG&A ratios declined, reflecting efficiency gains.

Financial highlights

• Revenue for the first half reached ¥115,899 million, up 8.2% year-over-year.

• Operating income rose 23.7% to ¥7,647 million; ordinary income up 23.2% to ¥7,701 million.

• Net income increased 25.4% to ¥5,093 million compared to the same period last year.

• Operating margin improved to 6.6% from 5.8% year-over-year.

• EPS for the half-year was ¥67.70, up from ¥54.00 year-over-year.

Outlook and guidance

• Full-year revenue forecast raised to ¥234,350 million (up 5.0% year-over-year), with operating income projected at ¥15,550 million and net profit forecast at ¥10,300 million (up 4.8%).

• Full-year EPS forecast revised up to ¥136.89.

• Existing store sales growth forecast at 2.0% for the full year.

• Store opening plan revised downward due to delays; 125 new stores now planned for the year.

• Guidance revision reflects stronger-than-expected existing store sales, offsetting slower new store openings.