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Sugi Holdings cuts FY net profit forecast 16.5% to ¥27.4 billion, raises sales view

Thu, Oct 08, 2026 15:30 JST Sugi Holdings Co., Ltd. (7649.T) Drugstores & dispensing pharmacies 中文

Sugi Holdings Co., Ltd. (7649) on Oct. 8 cut its net profit forecast for the fiscal year ending February 2027 by 16.5% to ¥27.4 billion from ¥32.8 billion, while raising its sales forecast to ¥1,117.9 billion.

Revised net profit forecast¥27.4 billion (from ¥32.8 billion)
Revised sales forecast¥1,117.9 billion (from ¥1,092.0 billion)
Revised operating profit forecast¥51.0 billion (from ¥54.0 billion)
H1 net profit¥12,989 million (down 54.6%)

The drugstore and dispensing pharmacy operator said sales would top its April 9 forecast after it began consolidating Seki Yakuhin Co., Ltd., which became a subsidiary in September 2026, including its September-December results. However, unseasonable summer weather left existing-store merchandise sales, mainly seasonal goods, below plan. After revising second-half assumptions for merchandise sales and gross margin, the company expects every profit line to fall short of its earlier forecast even with the new subsidiary's contribution.

ItemPreviousRevisedChange
Sales¥1,092.0 bln¥1,117.9 bln+2.4%
EBITDA¥77.4 bln¥72.5 bln-6.3%
Operating profit¥54.0 bln¥51.0 bln-5.6%
Ordinary profit¥55.0 bln¥51.4 bln-6.5%
Net profit¥32.8 bln¥27.4 bln-16.5%

Revised earnings per share are ¥73.62, adjusted for a 2-for-1 stock split effective Sept. 1, 2026, or ¥147.24 unadjusted. The company said sales, operating profit and ordinary profit are still expected to exceed the previous year's results, while net profit would be down 39.1% from ¥44,982 million. The dividend forecast was unchanged.

For the first half ended Aug. 31, sales rose 8.1% to ¥540,713 million and operating profit gained 4.4% to ¥24,747 million, while ordinary profit slipped 1.3% to ¥23,911 million. Net profit fell 54.6% to ¥12,989 million; the year-earlier period included additional deferred tax assets booked on the merger with the former I&H Co., Ltd. The company opened 60 stores and closed 21, ending the period with 2,360. It declared an interim dividend of ¥15.00 and forecasts a post-split year-end dividend of ¥10.00 (¥20 unadjusted).

The company plans to file its half-year report on Oct. 14, 2026, and to start paying the interim dividend on Nov. 5, 2026.


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