Doutor Nichires Holdings (3087): FY2025 Results Summary — Higher Revenue and Profit, Dividend Raised to 57 Yen

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

Note: Doutor Nichires Holdings 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. The company’s fiscal year ends in February; the results below are for the fiscal year ended February 2026, which this site classifies as FY2025.

Doutor Nichires Holdings Co., Ltd. announced its consolidated results for the fiscal year ended February 2026 (March 2025 to February 2026). Net sales were 159,147 million yen (106.9% of the prior year), operating profit was 10,150 million yen (105.8%), ordinary profit was 10,615 million yen (110.4%), and profit attributable to owners of parent was 7,234 million yen (105.1%), marking both higher revenue and higher profit. The recovery of existing stores was pronounced, and in the wholesale business dry beverages grew significantly.

Consolidated Results (FY ended Feb 2026, Actual)

For the fiscal year ended February 2026, sales improved substantially versus the prior year alongside a rise in customer spend per head, and the recovery of existing stores was pronounced. In the wholesale business, dry beverages grew significantly. On the other hand, the gross margin declined, reflecting higher costs as well as a shift in the sales mix caused by a sharp increase in general wholesale sales. Selling, general and administrative expenses were largely in line with plan apart from the increase accompanying higher sales, and as a ratio to sales they declined and remained within a controllable range. Extraordinary income totaled 287 million yen, comprising a gain on sale of non-current assets of 8 million yen, store-closure compensation income of 261 million yen, and other of 18 million yen. Extraordinary losses totaled 973 million yen, comprising a loss on retirement of non-current assets of 120 million yen, impairment losses of 697 million yen, and other of 155 million yen.

Item	FY ended Feb 2025 (Actual)	FY ended Feb 2026 (Actual)	YoY
Net sales	148,822 million yen	159,147 million yen	106.9%
Operating profit	9,597 million yen	10,150 million yen	105.8%
Ordinary profit	9,615 million yen	10,615 million yen	110.4%
Profit attributable to owners of parent	6,880 million yen	7,234 million yen	105.1%
Earnings per share	156.97 yen	170.71 yen	108.8%

Sales Overview (Consolidated)

Of net sales of 159,147 million yen, directly operated store sales were 102,580 million yen (105.5% of the prior year; 64.5% of the total) and wholesale was 54,027 million yen (110.1%; 33.9% of the total). Among directly operated stores, Doutor Coffee Shop grew to 23,811 million yen (108.5%), Excelsior Caffe to 11,988 million yen (106.8%), and Yomenya Goemon to 18,112 million yen (114.4%; a large sales increase driven by solid existing-store performance together with an increase in store count). Meanwhile, Hoshino Coffee was 17,444 million yen (98.9%); sales declined due to a reduction in store count from converting some roadside stores into Yomenya Goemon, although core cities remained firm. In wholesale, sales to franchise chains were 20,802 million yen (105.6%) and general wholesale sales were 33,224 million yen (113.1%), with dry products such as instant coffee, refill products, and drip coffee growing well beyond expectations.

Results of Principal Operating Companies (Non-consolidated)

Results of the principal operating companies (before group consolidation eliminations; including subsidiaries of the operating companies) were as follows. Doutor Coffee posted net sales of 97,136 million yen (109.0% of the prior year), operating profit of 4,752 million yen (110.2%), and net income of 3,784 million yen (121.7%). Nippon Restaurant System posted net sales of 57,921 million yen (104.8%), operating profit of 4,465 million yen (103.1%), and net income of 2,851 million yen (90.1%). D&N Confectionery & Sun Merry combined posted net sales of 9,442 million yen (103.8%), operating profit of 1,258 million yen (113.6%), and net income of 821 million yen (97.0%).

Operating Company	Metric	FY ended Feb 2026	FY ended Feb 2025	YoY
Doutor Coffee	Net sales	97,136 million yen	89,098 million yen	109.0%
Doutor Coffee	Operating profit	4,752 million yen	4,313 million yen	110.2%
Doutor Coffee	Net income	3,784 million yen	3,110 million yen	121.7%
Nippon Restaurant System	Net sales	57,921 million yen	55,286 million yen	104.8%
Nippon Restaurant System	Operating profit	4,465 million yen	4,331 million yen	103.1%
Nippon Restaurant System	Net income	2,851 million yen	3,163 million yen	90.1%
D&N Confectionery & Sun Merry (combined)	Net sales	9,442 million yen	9,100 million yen	103.8%
D&N Confectionery & Sun Merry (combined)	Operating profit	1,258 million yen	1,107 million yen	113.6%
D&N Confectionery & Sun Merry (combined)	Net income	821 million yen	846 million yen	97.0%

Full-Year Forecast (FY ending Feb 2027 Plan)

For the fiscal year ending February 2027, the store-opening plan calls for Doutor to open 40 new stores and close 30, and Nichires to open 40 new stores and close 5, for a group total of around 80 domestic store openings. Existing-store sales versus the prior year are planned at 102% for Doutor and 103% for Nichires (existing-store plans are annual averages). Consolidated results are planned at net sales of 166,501 million yen (104.6% of the prior year), operating profit of 11,043 million yen (108.8%), ordinary profit of 11,272 million yen (106.2%), and profit attributable to owners of parent of 7,556 million yen (104.5%). By principal operating company, Doutor Coffee is planned at net sales of 100,864 million yen, operating profit of 5,176 million yen, and net income of 4,001 million yen; Nippon Restaurant System at net sales of 61,827 million yen, operating profit of 4,934 million yen, and net income of 3,268 million yen.

Item	FY ending Feb 2027 (Plan)	FY ended Feb 2026 (Actual)	YoY
Net sales	166,501 million yen	159,147 million yen	104.6%
Operating profit	11,043 million yen	10,150 million yen	108.8%
Ordinary profit	11,272 million yen	10,615 million yen	106.2%
Profit attributable to owners of parent	7,556 million yen	7,234 million yen	104.5%

Shareholder Returns

The annual dividend per share for the fiscal year ended February 2026 was 57.00 yen (up 7.00 yen from the prior year, 114.0%), and the payout ratio was 33.4% (31.9% in the prior year). The annual dividend for the fiscal year ending February 2027 is forecast at 60 yen. Going forward, the company plans to actively pursue initiatives to enhance corporate value, including capital investment aimed at expanding earnings and consideration of M&A.

Item	FY ended Feb 2026 (Actual)	FY ended Feb 2025 (Actual)	FY ending Feb 2027 (Forecast)
Annual dividend per share	57.00 yen	50.00 yen	60 yen
Payout ratio	33.4%	31.9%	–

Topics

The company introduced a fully aseptic cup-filling machine and began handling cup dairy beverages that can be stored and distributed at room temperature. The best-before period was extended by up to 150 days, lengthening the sales window to a maximum of 270 days, and the company plans to expand sales further through mail order and overseas expansion in addition to existing channels such as convenience stores, supermarkets, and drugstores. In addition, on April 9, 2026, ‘Doutor Park Cafe YOYOGI’ held its grand opening in Yoyogi Park. Utilizing a building that was used as lodging for Dutch athletes at the 1964 Tokyo Olympics, the store has a floor area of 32 tsubo and 78 seats (34 indoor seats and 44 terrace seats, all non-smoking).

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.