Worth reading
69In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
10.7
Year-on-year change in operating profit (%)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsInterim period of the fiscal year ending February 202710 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales59,041 Hundreds of millions of yen+13.8%
Operating profit1,307 Hundreds of millions of yen+10.7%
Ordinary income1,082 Hundreds of millions of yen+1.7%
Net income133 Hundreds of millions of yen+229.1%
Results for the three months of the current quarterThe presentation includes standalone second-quarter operating profit trends for the Health & Wellness, Developer & Entertainment, International, and Integrated Financial Services businesses, among others. Standalone second-quarter figures for the consolidated group as a whole were not disclosed.
Full-year earnings forecast
Operating revenue
120,000 Hundreds of millions of yen
Operating profit
3,400 Hundreds of millions of yen
Ordinary income
2,900 Hundreds of millions of yen
Profit attributable to owners of the parent
730 Hundreds of millions of yen
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Operating revenue49.2%
Operating profit38.4%
Ordinary income37.3%
Profit attributable to owners of the parent18.2%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue in the Health & Wellness business came in line with the plan. Integration synergies exceeded the plan. The company aims to achieve its full-year earnings forecasts.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Health and wellness business
Gross operating profit1,883
Personnel Expenses-766
Equipment costs-282
Other-464
Developer & Entertainment business
Gross operating profit233
Personnel Expenses-18
Equipment costs-74
Other-8
International Business
Gross operating profit117
Personnel Expenses-46
Equipment costs-42
Other-21
Supermarket business
Gross operating profit-119
Personnel Expenses-33
Equipment costs22
Other0
Discount store business
Gross operating profit-4
Personnel Expenses-17
Equipment costs-8
Other-2
GMS business
Gross operating profit52
Personnel Expenses-97
Equipment costs-47
Other-32
Integrated financial services business
AFS Domestic-35
AFS Greater China-14
AFS Mekong Region-1
AFS Malay Region10
Other22
New initiatives
- Rebuilding pricing and promotional policies, fresh food, and delicatessen operations in Food Retail
- Expanding sales of TOPVALU and promoting the shift from national brands to private labels
- Expanding integration synergies with Tsuruha HD and rolling out the Drug & Food model
- Transfer of shares in AEON Thailand
- Dissolution and liquidation of AEON Fantasy's Chinese consolidated subsidiary
- Absorption-type merger of Delica Foods by Maxvalu Tokai
- Planned absorption-type merger of OPA by AEON Mall
- Opening specialty-format stores in other companies' shopping centers in Vietnam
- AEON Entertainment's entry into the Indonesian film distribution business
Key KPIsA metric the company considers important as a management benchmark.
- Integration synergies realized in the first half85 Hundreds of millions of yen
- Annual plan for Tsuruha HD integration synergies150 Hundreds of millions of yen
- Tsuruha Group TOPVALU salesApproximately 1.3 times the year-earlier period
- Sales at existing domestic AEON Mall specialty stores104.7 %Year on year against the same period last yearYear on year
- AEON Pay members1,483 10,000 peopleYear on year against the same period last yearIncrease of 2.74 million from the beginning of the period
- Number of AEON shopping app membersMore than 15 million
- Cumulative number of まいばすけっと stores1,374 stores
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Existing-store sales, existing-store customer numbers, items per transaction, average price per item, labor productivity per hour, and total working hours are presented.Segment results
Health and wellness business
Operating revenue
12,778 Hundreds of millions of yen+87.4%
Operating profit
596 Hundreds of millions of yen+162.9%
Developer & Entertainment business
Operating revenue
3,542 Hundreds of millions of yen+8.2%
Operating profit
542 Hundreds of millions of yen+32.3%
International Business
Operating revenue
3,151 Hundreds of millions of yen+12.1%
Operating profit
56 Hundreds of millions of yen+15.0%
Supermarket business
Operating revenue
15,263 Hundreds of millions of yen-1.2%
Operating profit
-1 Hundreds of millions of yen
Discount store business
Operating revenue
2,186 Hundreds of millions of yen+0.7%
Operating profit
4 Hundreds of millions of yen-87.7%
GMS business
Operating revenue
18,653 Hundreds of millions of yen+2.6%
Operating profit
-126 Hundreds of millions of yen
Integrated financial services business
Operating revenue
3,076 Hundreds of millions of yen+11.3%
Operating profit
260 Hundreds of millions of yen-3.3%
Services and specialty stores business
Operating revenue
3,142 Hundreds of millions of yen+1.6%
Operating profit
71 Hundreds of millions of yen-19.1%
Other
Operating revenue
474 Hundreds of millions of yen+22.9%
Operating profit
-75 Hundreds of millions of yen
Market Size / Share
The company aims to create businesses with leading market shares, but market share figures were not disclosed.Number of stores and locations
Cumulative 1,374 まいばすけっと stores, approximately 5,600 Tsuruha Group stores, and a cumulative 37 stores under the Drug & Food model. The total number of store openings and closures across the group during the period was not disclosed.Number of employees
Approximately 50,000 specialist personnel in the Tsuruha Group. Total group employees and the recruitment plan were not disclosed.Annual Dividend
FY2026 forecast
Annual¥15
Interim¥7.5
End of period¥7.5
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Interim period of the fiscal year ending February 2027 |
| Net Sales | 59,041 Hundreds of millions of yen (YoY +13.8%) |
| Operating profit | 1,307 Hundreds of millions of yen (YoY +10.7%) |
| Ordinary income | 1,082 Hundreds of millions of yen (YoY +1.7%) |
| Net income | 133 Hundreds of millions of yen (YoY +229.1%) |
| Results for the three months of the current quarter | The presentation includes standalone second-quarter operating profit trends for the Health & Wellness, Developer & Entertainment, International, and Integrated Financial Services businesses, among others. Standalone second-quarter figures for the consolidated group as a whole were not disclosed. |
| Full-year earnings forecast | Operating revenue 120,000 Hundreds of millions of yen / Operating profit 3,400 Hundreds of millions of yen / Ordinary income 2,900 Hundreds of millions of yen / Profit attributable to owners of the parent 730 Hundreds of millions of yen |
| Progress against full-year forecast | Operating revenue 49.2% / Operating profit 38.4% / Ordinary income 37.3% / Profit attributable to owners of the parent 18.2% |
| Self-assessment against the plan | Revenue in the Health & Wellness business came in line with the plan. Integration synergies exceeded the plan. The company aims to achieve its full-year earnings forecasts. |
| Segment results | Health and wellness business Operating revenue 12,778 Hundreds of millions of yen (YoY +87.4%) / Operating profit 596 Hundreds of millions of yen (YoY +162.9%) / Developer & Entertainment business Operating revenue 3,542 Hundreds of millions of yen (YoY +8.2%) / Operating profit 542 Hundreds of millions of yen (YoY +32.3%) / International Business Operating revenue 3,151 Hundreds of millions of yen (YoY +12.1%) / Operating profit 56 Hundreds of millions of yen (YoY +15.0%) / Supermarket business Operating revenue 15,263 Hundreds of millions of yen (YoY -1.2%) / Operating profit -1 Hundreds of millions of yen / Discount store business Operating revenue 2,186 Hundreds of millions of yen (YoY +0.7%) / Operating profit 4 Hundreds of millions of yen (YoY -87.7%) / GMS business Operating revenue 18,653 Hundreds of millions of yen (YoY +2.6%) / Operating profit -126 Hundreds of millions of yen / Integrated financial services business Operating revenue 3,076 Hundreds of millions of yen (YoY +11.3%) / Operating profit 260 Hundreds of millions of yen (YoY -3.3%) / Services and specialty stores business Operating revenue 3,142 Hundreds of millions of yen (YoY +1.6%) / Operating profit 71 Hundreds of millions of yen (YoY -19.1%) / Other Operating revenue 474 Hundreds of millions of yen (YoY +22.9%) / Operating profit -75 Hundreds of millions of yen |
| Breakdown of Factors Affecting the Change | Health and wellness business Gross operating profit 1,883 / Personnel Expenses -766 / Equipment costs -282 / Other -464 / Developer & Entertainment business Gross operating profit 233 / Personnel Expenses -18 / Equipment costs -74 / Other -8 / International Business Gross operating profit 117 / Personnel Expenses -46 / Equipment costs -42 / Other -21 / Supermarket business Gross operating profit -119 / Personnel Expenses -33 / Equipment costs 22 / Other 0 / Discount store business Gross operating profit -4 / Personnel Expenses -17 / Equipment costs -8 / Other -2 / GMS business Gross operating profit 52 / Personnel Expenses -97 / Equipment costs -47 / Other -32 / Integrated financial services business AFS Domestic -35 / AFS Greater China -14 / AFS Mekong Region -1 / AFS Malay Region 10 / Other 22 |
| Key KPIs | Indicator name Integration synergies realized in the first half / Value 85 Hundreds of millions of yen / Year on year against the same period last year Not disclosed, Indicator name Annual plan for Tsuruha HD integration synergies / Value 150 Hundreds of millions of yen / Year on year against the same period last year Not disclosed, Indicator name Tsuruha Group TOPVALU sales / Value Approximately 1.3 times the year-earlier period / Year on year against the same period last year Not disclosed, Indicator name Sales at existing domestic AEON Mall specialty stores / Value 104.7 % / Year on year against the same period last year Year on year, Indicator name AEON Pay members / Value 1,483 10,000 people / Year on year against the same period last year Increase of 2.74 million from the beginning of the period, Indicator name Number of AEON shopping app members / Value More than 15 million / Year on year against the same period last year Not disclosed, Indicator name Cumulative number of まいばすけっと stores / Value 1,374 stores / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Existing-store sales, existing-store customer numbers, items per transaction, average price per item, labor productivity per hour, and total working hours are presented. |
| Number of stores and locations | Cumulative 1,374 まいばすけっと stores, approximately 5,600 Tsuruha Group stores, and a cumulative 37 stores under the Drug & Food model. The total number of store openings and closures across the group during the period was not disclosed. |
| Number of employees | Approximately 50,000 specialist personnel in the Tsuruha Group. Total group employees and the recruitment plan were not disclosed. |
| Annual Dividend | FY2026 forecast Annual ¥15 / Interim ¥7.5 / End of period ¥7.5 |
| Market Size / Share | The company aims to create businesses with leading market shares, but market share figures were not disclosed. |
| New initiatives | Rebuilding pricing and promotional policies, fresh food, and delicatessen operations in Food Retail, Expanding sales of TOPVALU and promoting the shift from national brands to private labels, Expanding integration synergies with Tsuruha HD and rolling out the Drug & Food model, Transfer of shares in AEON Thailand, Dissolution and liquidation of AEON Fantasy's Chinese consolidated subsidiary, Absorption-type merger of Delica Foods by Maxvalu Tokai, Planned absorption-type merger of OPA by AEON Mall, Opening specialty-format stores in other companies' shopping centers in Vietnam, AEON Entertainment's entry into the Indonesian film distribution business |
Items this document does not state (12)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Health & Wellness, Developer & Entertainment, and ASEAN operations drove performance. In Health & Wellness, the consolidation of Tsuruha HD and integration synergies contributed; in Developer & Entertainment, experiential and time-spending content and non-film content contributed; and in ASEAN, growth in Vietnam and other markets contributed. In Food Retail, the fading of the rice-related windfall demand resulting from government stockpiled rice, rising costs, consumers' stronger preference for saving, and issues with pricing and promotional measures were factors behind the decline in profit.
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