Growth investment and a disaster
AEON Kyushu Co., Ltd. (TSE: 2653), the Fukuoka-based operator of AEON general merchandise stores, supermarkets and discount stores across Kyushu, reported consolidated results for the first half of FY2/2027, the six months from March 1 to August 31, 2026, on October 13, 2026 under Japanese GAAP. Operating revenue rose 3.9% to ¥282,502 million, while operating profit fell 32.7% to ¥2,711 million and ordinary profit 53.9% to ¥2,385 million. Net profit attributable to owners of the parent fell 86.9% to ¥470 million, or ¥13.77 per share against ¥105.44.
The company expressed condolences for those who died in an explosion at AEON Mall Kumamoto and a ceiling collapse at AEON Mall Uki, and said 20 of its stores in the area affected by the July 2026 Kumamoto earthquake were temporarily closed; two, inside those two malls, remained closed as of September 1. It booked ¥1,745 million of earthquake-related costs as a special loss in the second quarter.
Stores, sales and costs
AEON Kyushu took over nine stores by absorbing Joyfulsun on March 1 and added 23 by acquiring Tokiha Industry on March 10, whose results are consolidated from the second quarter. It opened 20 stores, including eight supermarkets and four discount stores, and closed 11 as it restructures its food-service business, ending August with 389 stores. Existing-store food sales were 100.6% of last year, helped by its Gachitoku low-price campaign and a price freeze on Topvalu own-brand goods. The gross margin slipped 0.4 points, and selling, general and administrative expenses rose to 104.7% of last year with new stores, three large store refits, a fourth straight year of large pay rises and promotion of the iAEON app.
Balance sheet, dividend and outlook
Total assets rose 8.3% to ¥223,581 million with the acquisition, while net assets fell 1.1% to ¥59,902 million, for an equity ratio of 26.8%, down from 29.2%. The interim dividend is ¥25 and the company plans an annual ¥50, unchanged from last year.
The full-year forecast is unchanged: operating revenue of ¥600,000 million (+9.7%), operating profit of ¥10,800 million (+0.5%), ordinary profit of ¥10,200 million (−11.4%) and net profit of ¥6,500 million (+8.9%).
| Metric | H1 FY2/2027 | H1 FY2/2026 | Change |
|---|---|---|---|
| Operating revenue (¥ million) | 282,502 | 271,773 | +3.9% |
| Operating profit (¥ million) | 2,711 | 4,028 | −32.7% |
| Ordinary profit (¥ million) | 2,385 | 5,177 | −53.9% |
| Net profit attrib. to owners of parent (¥ million) | 470 | 3,595 | −86.9% |
| EPS (¥) | 13.77 | 105.44 | −86.9% |
| Total assets (¥ million) | 223,581 | 206,432 | +8.3% |
| Net assets (¥ million) | 59,902 | 60,568 | −1.1% |
| Equity ratio | 26.8% | 29.2% | −2.4 pt |
| FY2/2027 guidance — operating revenue (¥ million) | 600,000 | — | +9.7% |
| FY2/2027 guidance — operating profit (¥ million) | 10,800 | — | +0.5% |
| FY2/2027 guidance — ordinary profit (¥ million) | 10,200 | — | −11.4% |
| FY2/2027 guidance — net profit (¥ million) | 6,500 | — | +8.9% |
| Annual dividend per share (¥) | 50.00 | 50.00 | unchanged |
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.