Gokuraku Yu Holdings Co., Ltd. (TSE: 2340) reported consolidated results for the fiscal year ended March 31, 2026 (FY3/2026) under Japanese GAAP. Revenue rose 7.1% to ¥16,246 million, operating profit rose 8.5% to ¥1,236 million, ordinary profit rose 3.6% to ¥1,326 million, and net profit attributable to owners of the parent rose 20.7% to ¥928 million. EPS was ¥29.49 (diluted ¥28.38). ROE was 22.7% and the operating margin 7.6%.
Super-sento demand stays firm
The group runs the "Gokuraku-yu" chain of large-scale public hot-spring bathhouses (super-sento) and the "RAKU SPA" spa facilities across Japan, and also operates bathhouses in China, including Shanghai. Steady footfall and disciplined operations lifted both the top line and profit to fresh highs.
Investing for growth
Operating cash flow was ¥1,299 million, while investing cash flow was a ¥2,081 million outflow as the company spent on facilities, and financing cash flow was a ¥595 million outflow; period-end cash and equivalents were ¥1,519 million. Total assets were ¥13,071 million, net assets ¥4,906 million and the equity ratio 35.3% (BPS ¥145.41).
Dividend restored; FY27 guidance withheld
Gokuraku Yu restored a year-end dividend of ¥6.00 per share (payout 20.3%), versus ¥0.00 a year earlier; part of the dividend is funded from capital surplus. For FY3/2027 it again forecasts ¥6.00. The company did not provide numerical FY3/2027 earnings guidance, saying too many uncertain factors make a reasonable estimate difficult at this time, and that it will disclose a forecast once one can be made reliably.
| Metric | FY3/2026 | FY3/2025 | YoY |
|---|---|---|---|
| Revenue (¥ million) | 16,246 | 15,164 | +7.1% |
| Operating profit (¥ million) | 1,236 | 1,140 | +8.5% |
| Ordinary profit (¥ million) | 1,326 | 1,279 | +3.6% |
| Net profit attrib. to owners (¥ million) | 928 | 769 | +20.7% |
| EPS (¥) | 29.49 | 24.69 | +19.4% |
| ROE | 22.7% | 24.5% | -1.8pp |
| Annual dividend (¥) | 6.00 | 0.00 | Restored |
| FY27 earnings guidance | Not disclosed | — | — |
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