Two chains, one weak summer
Intermestic Inc. (TSE: 262A) reported consolidated results for the first nine months of FY12/2026, January 1 to September 30, 2026, on November 10, 2026. Horus HD, Horus and four Horus subsidiaries, acquired with a deemed acquisition date at the end of last year, were consolidated from this year and contributed to domestic results. Domestic sales rose 71.3% to ¥64,867 million and segment operating profit 14.1% to ¥7,043 million. Zoff launched collaborations with Major League Baseball teams and United Arrows, and photochromic lenses sold well despite the weather, while Megane Super widened its sunglasses range, began selling Ray-Ban Meta AI glasses and expanded children's myopia-control lenses.
At the end of September the group ran 351 Zoff stores (20 opened, 1 closed), 302 Megane Super stores (6 opened, 3 closed) and 19 overseas stores: 16 franchised in Hong Kong and 3 in Singapore, which moved from franchise to direct operation. Overseas sales rose 1.9% to ¥689 million. Ordinary profit rose 8.7% to ¥6,775 million. Net assets rose to ¥28,859 million, lifting the equity ratio to 43.9% from 39.5%.
Guidance unchanged
Intermestic kept its FY12/2026 forecast of net sales of ¥85,800 million (+71.1%), operating profit of ¥7,502 million (+25.2%), ordinary profit of ¥7,100 million (+18.7%) and net profit attributable to owners of ¥4,752 million (+15.4%), and its year-end dividend forecast of ¥51, against ¥44 for FY12/2025. The nine months have delivered 94.3% of the full-year operating profit target.
| Metric | 9M FY12/2026 | 9M FY12/2025 | Change |
|---|---|---|---|
| Net sales (¥ million) | 65,343 | 38,325 | +70.5% |
| Operating profit (¥ million) | 7,074 | 6,221 | +13.7% |
| Ordinary profit (¥ million) | 6,775 | 6,233 | +8.7% |
| Net profit attrib. to owners of parent (¥ million) | 4,190 | 4,248 | -1.3% |
| Comprehensive income (¥ million) | 4,153 | 4,271 | -2.8% |
| EPS (¥) | 136.82 | 138.82 | -1.4% |
| Domestic — revenue (¥ million) | 64,867 | — | +71.3% |
| Domestic — segment profit (¥ million) | 7,043 | — | +14.1% |
| Overseas — revenue (¥ million) | 689 | — | +1.9% |
| Stores at September 30 (Zoff / Megane Super / overseas) | 351 / 302 / 19 | — | — |
| Total assets (¥ million) | 65,709 | 65,668 | +0.1% |
| Net assets (¥ million) | 28,859 | 25,966 | +11.1% |
| Equity ratio | 43.9% | 39.5% | +4.4 pt |
| FY12/2026 guidance — revenue (¥ million) | 85,800 | — | +71.1% |
| FY12/2026 guidance — operating profit (¥ million) | 7,502 | — | +25.2% |
| FY12/2026 guidance — ordinary profit (¥ million) | 7,100 | — | +18.7% |
| FY12/2026 guidance — net profit (¥ million) | 4,752 | — | +15.4% |
| Annual dividend per share (¥) | 51.00 | 44.00 | +15.9% |
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.