ALBIS Co., Ltd. (7475): FY2025 Results Summary — Operating Profit Up, but Ordinary and Net Profit Down

This article is based on publicly available IR materials and is not a recommendation to buy or sell any specific securities.

Note: ALBIS Co., Ltd. does not publish an English results presentation; this article is an English translation of the Japanese-language article on our sister site Investalk, which is based on the company’s Japanese-language IR materials, with figures transcribed as reported. This site classifies the most recent completed fiscal year as FY2025, while the company’s materials label the period as the fiscal year ended March 2026. ALBIS Co., Ltd. (securities code 7475, Tokyo Stock Exchange Prime Market, a food supermarket operator based in the Hokuriku region) released its results presentation for the fiscal year ended March 2026 on May 21, 2026. Operating revenue came to 100.95 billion yen, 102.8% of the previous fiscal year, on the effects of new stores and rebuilt new stores, and operating profit also increased to 2.15 billion yen, or 104.5%. On the other hand, ordinary profit was 2.41 billion yen at 92.8%, and profit attributable to owners of parent was 1.32 billion yen at 81.7%, both declining. For the fiscal year ending March 2027, the company plans operating revenue of 103.99 billion yen (+3.0% year on year) and operating profit of 2.30 billion yen (+6.8%).

Results (FY Ended March 2026, Actual)

Operating revenue increased on the full-year contribution of the previous fiscal year’s new store (Kitagata) and rebuilt new store (Fuchu Hayahoshi), in addition to the effect of the rebuilt new stores opened during the period under review (Ohirota and Taikoyama). On the other hand, existing stores in the vicinity of the three rebuilt new stores posted lower sales as a reaction to the previous fiscal year, and the temporary closure of the Tapisu store in September 2025 for rebuilding was also a factor that reduced sales. On the profit side, although there were effects on the gross profit margin from price responses to competition and from sharp market fluctuations, the gross profit margin was maintained at the same level as the previous fiscal year (30.4%) through expanded sales of high-margin products and private-brand products together with cost improvements at the process center. Operating profit increased because, while there were investments in human capital such as wage increases and an increase in depreciation related to store investment, part of the non-operating income accounts was reclassified into general and administrative expense accounts. Ordinary profit and net profit declined, and net profit was also affected by the recording of 370 million yen of extraordinary losses arising from items such as equipment at the existing fresh food center in connection with the construction of the new marine products process center and the demolition of the former Tapisu store.

Item	FY ended March 2026 (Actual)	FY ended March 2025 (Actual)	Year on year
Operating revenue	100,952 million yen (100.95 billion yen)	98,185 million yen (98.18 billion yen)	102.8%
Net sales	99,850 million yen	97,165 million yen	－
Gross profit margin	30.4%	30.5%	▲0.0pt
Operating profit	2,155 million yen (2.15 billion yen)	2,063 million yen	104.5%
Operating profit margin	2.2%	2.1%	＋0.0pt
Ordinary profit	2,417 million yen (2.41 billion yen)	2,605 million yen	92.8%
Ordinary profit margin	2.4%	2.7%	▲0.3pt
Profit attributable to owners of parent	1,324 million yen (1.32 billion yen)	1,622 million yen	81.7%
Net profit margin	1.3%	1.7%	▲0.3pt

Store Sales by Region

Looking at store sales by district (all-store basis, excluding tenants, before application of the revenue recognition standard), Toyama Prefecture rose to 54,062 million yen at 102.6% of the previous fiscal year and Fukui Prefecture rose to 6,524 million yen at 100.3%, while Ishikawa Prefecture was roughly flat at 33,558 million yen, or 99.8%. The Chukyo area (Aichi and Gifu Prefectures) grew to 8,159 million yen, or 119.1%. The all-store total was 102,304 million yen, or 102.7%.

Category	FY ended March 2026 (Actual)	FY ended March 2025 (Actual)	Year on year
Toyama Prefecture	54,062 million yen	52,674 million yen	102.6%
Ishikawa Prefecture	33,558 million yen	33,634 million yen	99.8%
Fukui Prefecture	6,524 million yen	6,504 million yen	100.3%
Chukyo (Aichi and Gifu Prefectures)	8,159 million yen	6,848 million yen	119.1%
Total	102,304 million yen	99,660 million yen	102.7%

Full-Year Forecast (FY Ending March 2027)

For the fiscal year ending March 2027, the company expects higher revenue from the full-year contribution of the previous fiscal year’s rebuilt new stores, together with large-scale renovations of aging stores and store renovations centered on flagship stores. For operating profit and ordinary profit, although it expects an increase in expenses from aggressive investment in human capital and from store renovations, it expects profit growth from the effect of higher revenue, in addition to the contribution of the marine products process center that started operating in the previous fiscal year and continued efforts to improve store productivity. Personnel expenses are planned at 13,545 million yen (personnel expense ratio of 13.2%, +3.6% year on year), and total selling, general and administrative expenses at 29,993 million yen (SG&A expense ratio of 29.2%, +2.2% year on year).

Item	FY ending March 2027 (Plan)	FY ended March 2026 (Actual)	Year on year
Operating revenue	103,999 million yen	100,952 million yen	+3.0%
Net sales	102,820 million yen	99,850 million yen	+3.0%
Operating profit	2,302 million yen	2,155 million yen	+6.8%
Operating profit margin	2.2%	2.2%	+0.1%
Ordinary profit	2,508 million yen	2,417 million yen	+3.8%
Ordinary profit margin	2.4%	2.4%	(+0.0pt)
Profit attributable to owners of parent	1,348 million yen	1,324 million yen	+1.7%
Net profit margin	1.3%	1.3%	(▲0.0pt)

Shareholder Returns

For the fiscal year ended March 2026, the company returned capital to shareholders through dividends of 70 yen per share (592 million yen in total), and it also acquired 300,000 shares of treasury stock (approximately 880 million yen) through market transactions between February 17, 2025 and September 11, 2025. As a result, the total return ratio for the fiscal year ended March 2026 was 95.3%.

Item	Details
Dividends (FY ended March 2026)	70 yen per share; 592 million yen in total
Treasury stock acquisition	300,000 shares (approximately 880 million yen) acquired through market transactions from February 17, 2025 to September 11, 2025
Total return ratio (FY ended March 2026)	95.3%

Management Conscious of the Cost of Capital and the Share Price

Aiming for an optimal balance between capital efficiency and shareholder returns and for sustainable growth and higher corporate value, the company targets a PBR of 1x or above and an ROE of 8% by promoting five priority initiatives: (1) strengthening sales and earnings capabilities, (2) business operations conscious of the cost of capital, (3) aggressive investment supporting long-term growth, (4) strengthening the framework for IR activities and further enhancing information disclosure, and (5) implementing shareholder returns aimed at optimizing shareholders’ equity. For the fiscal year ended March 2026, PBR was 0.65 times and ROE was 4.1%. When carrying out store openings and renovation investments, the company uses as its criterion whether profitability exceeding WACC (which it recognizes as around 4%) can be expected. It carried out approximately 4.0 billion yen of store investment, including new store openings, rebuilt new stores and store renovations, and also newly constructed a marine products process center (investment of approximately 2.2 billion yen).

This article is an analysis based on publicly available information and is not a recommendation to buy or sell any specific securities. Investment decisions are your own responsibility.