Tenmaya Store Co., Ltd. (TSE: 9846), a supermarket chain based in Okayama that serves the Chugoku region of western Japan, reported results for the first quarter of the fiscal year ending February 2027 — the three months from March 1 to May 31, 2026. Operating revenue rose 2.3% to ¥14,701m, but operating profit fell 6.0% to ¥563m and ordinary profit fell 7.3% to ¥569m. Net profit attributable to owners of the parent, however, jumped 47.8% to ¥384m, with quarterly EPS of ¥33.41 versus ¥22.64 a year earlier.
Sales edge higher, led by a new store
Top-line growth was driven by the core retail business and a new outlet. In March the company pre-opened the Tenmaya Hapîzu Saidaiji store in Okayama City's Higashi Ward as the anchor of its first mall-format facility, the Tenmaya Hapîzu Saidaiji Mall, strengthening its locally sourced fresh-food assortment. The retail segment posted operating revenue of ¥12,658m (up 2.1%), while the retail-related segment — prepared foods and food service — grew 3.9% to ¥2,043m.
Operating and ordinary profit slip on costs
Despite higher sales, both operating profit (¥563m, down 6.0%) and ordinary profit (¥569m, down 7.3%) declined as raw-material and energy-price inflation weighed on margins. By segment, retail operating profit fell 9.8% to ¥465m, while the retail-related segment lifted operating profit 17.6% to ¥97m on improved product development.
Net profit jumps on lighter charges
The sharp rise in net profit — against the drop in operating and ordinary profit — reflects more favorable items below the operating line, with lighter one-off losses and a lower tax charge than in a year-earlier quarter that had carried heavier special charges. Comprehensive income rose 26.7% to ¥360m.
Balance sheet and dividend
Total assets grew to ¥47,170m from ¥45,506m at the prior fiscal year-end, mainly on new-store capital investment and higher receivables, while net assets rose to ¥28,033m; the equity ratio was 59.3%. The company left its dividend plan unchanged, guiding a full-year payout of ¥20.00 per share (an interim ¥10.00 plus a year-end ¥10.00), up from ¥15.50 in the year to February 2026.
Outlook
Tenmaya Store left its full-year guidance intact, unchanged from the forecast published on April 13. For the year to February 2027 it targets operating revenue of ¥63,000m (+6.3%), operating profit of ¥2,300m (+5.3%), ordinary profit of ¥2,300m (+1.3%) and net profit of ¥1,400m (+3.7%), for EPS of ¥121.81. Against that plan, first-quarter net profit represents about 27% of the full-year target.
| Metric | Q1 FY2/27 | Q1 FY2/26 | YoY |
|---|---|---|---|
| Operating revenue (¥m) | 14,701 | 14,364 | +2.3% |
| Operating profit (¥m) | 563 | 599 | −6.0% |
| Ordinary profit (¥m) | 569 | 614 | −7.3% |
| Net profit attrib. (¥m) | 384 | 260 | +47.8% |
| EPS (¥) | 33.41 | 22.64 | +47.6% |
| Equity ratio | 59.3% | 60.9% | −1.6pp |
| Dividend (¥, FY forecast) | 20.00 | 15.50 | +29.0% |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.