Sanei Corporation <8119> announced its consolidated financial results for the second quarter of the fiscal year ending March 2025 (April-September 24). Revenue increased by 22.6% year-on-year to 20.9 billion yen, operating profit increased by 189.5% to 1.328 billion yen, ordinary profit increased by 117.4% to 1.217 billion yen, and net profit attributable to parent company shareholders for the quarter increased by 99.7% to 1.018 billion yen.

Revenue from the furniture and household products business increased by 20.4% year-on-year to 9.444 billion yen, with segment profit increasing by 0.466 billion yen to 0.667 billion yen. In the OEM business, despite the impact of economic stagnation in Europe and China, the decrease due to the backlash from nesting demand has eased, and the order situation improved year-on-year. In the brand business, sales of furniture and interior net shops like 'MINT' increased year-on-year primarily due to the strong performance of new products.

Revenue from the fashion accessories business increased by 37.0% to 8.902 billion yen, with segment profit increasing by 0.485 billion yen to 1.062 billion yen. In the midst of strong demand for inbound and outdoor travel amidst, overall segment sales of related products were boosted. Within the brand business, L&S Corporation, which sells the Belgian premium casual bag brand 'Kipling,' performed well, while sustainable businesses like 'Our EARTH Project' also contributed to sales through the launch of the original brand 'uF' and fabric business including waterless dyeing technology 'e.dye'. On the other hand, Benecxee, which operates select shops primarily dealing with footwear domestically and internationally, is in the process of business restructuring including brand development and name changes - such as introducing the U.S.-based hands-free shoe 'Orthofeet' to promote a comfortable walking lifestyle. They are also reducing directly-run unprofitable stores, impacting a decrease year-on-year.

Revenue from the household appliances business decreased by 10.3% to 1.646 billion yen, with segment loss decreasing by 0.104 billion yen to 0.139 billion yen. In the OEM business, delays in the introduction of new products were the main reason for the year-on-year decrease. In the brand business, hair and beauty appliances like 'mod's hair' performed well, but cooking appliances like 'Vitantonio' faced particularly sluggish overseas sales.

For the full fiscal year ending March 2025, the company is maintaining its revised plan announced on July 31, which forecasts revenue of 39 billion yen, operating profit of 1.4 billion yen (+20.3% year-on-year), ordinary profit of 1.5 billion yen (+20.2% year-on-year), and net income attributable to parent company shareholders of 0.9 billion yen (+67.2% year-on-year).