NEXTAGE (3186): FY2025 Results Summary — Operating Profit Up 51.4% on Broad-Based Growth

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

NEXTAGE Co., Ltd. (3186), an operator of new and used car dealerships, reported higher sales and profits for the fiscal year ended November 30, 2025 (FY2025). Net sales rose 18.0% year on year to ¥652,072 million and operating profit increased 51.4% to ¥19,597 million. Ordinary profit grew 52.2% to ¥18,485 million and profit attributable to owners of parent rose 60.0% to ¥12,811 million, exceeding the company’s plan. All four business units posted year-on-year gains in both net sales and gross profit, and the company is guiding to further increases in sales and profit for FY2026.

Consolidated Results (Full-Year Actual)

Net sales, gross profit and each profit line grew year on year. Operating profit margin came to 3.0% of net sales and net income margin to 2.0%. Figures are in millions of yen; the YoY column shows the rate of change as stated in the materials.

Item (¥ million)	FY2025	FY2024	YoY
Net sales	652,072	552,778	+18.0%
Gross profit	112,165	98,668	+13.7%
Selling, general and administrative expenses	92,567	85,725	+8.0%
Operating income	19,597	12,943	+51.4%
Ordinary income	18,485	12,144	+52.2%
Profit attributable to owners of parent	12,811	8,006	+60.0%

Business Unit Results

Every business unit increased both net sales and gross profit year on year. Growth was led by the purchasing stores and new imported vehicles dealerships units. Figures are in millions of yen.

Business Unit	Metric (¥ million)	FY2025	FY2024
Used vehicle dealerships	Net sales	329,924	292,031
Used vehicle dealerships	Gross profit	49,988	45,870
Purchasing stores	Net sales	217,946	178,318
Purchasing stores	Gross profit	37,514	33,697
New imported vehicles dealerships	Net sales	92,444	73,042
New imported vehicles dealerships	Gross profit	13,200	10,560
Maintenance stores	Net sales	21,699	18,822
Maintenance stores	Gross profit	10,319	8,329

Topics

The company attributes the operating profit increase (from ¥12,943 million in FY2024 to ¥19,597 million in FY2025) mainly to higher gross profit, partly offset by increases in personnel expenses; rent, depreciation and utilities; promotion and vehicle-purchase information fees; and AA-related and transportation expenses. Productivity per employee improved, with gross profit per sales staff up. The company opened a net additional number of locations to reach 353 storefronts at the end of FY2025 (up from 342 at the beginning of the year) and plans 368 storefronts at the end of FY2026. It also reinforced its wholesale business through the “Shared Inventory” and “NEXTAGE STOCK” initiatives and reduced the number of loss-making general stores, whose operating results improved by approximately ¥2.2 billion.

FY2026 Forecast

For the fiscal year ending November 30, 2026 (FY2026), the company forecasts higher sales and profits. Figures are in billions of yen except retail sales volume; the YoY column shows the index versus the FY2025 actual as stated in the materials.

Item	H1 FY2026 Forecast	FY2026 Forecast	YoY
Net sales (¥ billion)	329.0	684.0	104.9%
Operating profit (¥ billion)	10.5	24.0	122.5%
Ordinary income (¥ billion)	10.3	22.6	122.3%
Profit attributable to owners of parent (¥ billion)	6.8	15.0	117.1%
Retail sales volume (vehicles)	–	192,000	103.9%

Financial Position

On a consolidated basis, total assets stood at ¥226,777 million at the end of FY2025 and net assets at ¥79,195 million. The equity ratio improved to 34.9% from 32.7% a year earlier, while total borrowings declined to ¥91,218 million from ¥104,660 million. Figures are in millions of yen.

Item (¥ million)	End of FY2025	End of FY2024
Total assets	226,777	222,266
Current assets	136,347	132,457
Non-current assets	90,429	89,809
Current liabilities	73,936	66,998
Non-current liabilities	73,644	82,540
Net assets	79,195	72,727
Total borrowings	91,218	104,660
Cash and deposits	17,686	35,711
Merchandise	88,504	75,852
Equity ratio	34.9%	32.7%

Shareholder Returns

The results presentation does not include information on dividends or share buybacks. This cannot be confirmed from the materials.

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.