Joshin Denki ＜8173＞ announced consolidated financial results for the 2nd quarter (24/4/9) of the fiscal year ending 2025/3 on the 5th. Sales decreased 2.8% from the same period last year to 191.986 billion yen, operating profit fell 59.9% to 1.838 billion yen, ordinary profit fell 60.9% to 1.777 billion yen, and interim net profit attributable to parent company shareholders fell 29.4% to 2.196 billion yen.

In this interim consolidated accounting period, although there was an effect of a decrease in the number of physical stores in storefront sales and internet sales, storefront sales hit a tough spot. Also, even though the gross profit margin was secured in the 26% range, operating profit declined as sales expenses and general administrative expenses ratios reached 25%.

We are working on the three-year medium-term management plan “JT-2025 Management Plan,” which is the second year this fiscal year. In order to evolve into an “enterprise that supports the growth of local communities and contributes to the future of people and the environment,” which the company group aims for in 2030, this plan passes through 2025 with backcast thinking, aims to solve customer issues and create customer lifetime value through useful realization, and is steadily carrying out the plan by formulating and implementing specific strategies aimed at achieving various goals. Regarding store development, as a result of opening 2 stores, starting with the Soka Matsubara store (Saitama Prefecture), and withdrawing 2 stores under an appropriate scrap and build policy that aims to continue strengthening store power and improving investment efficiency, the number of stores at the end of the interim consolidated accounting period was 214 stores.

For the full fiscal year ending 2025/3, the consolidated earnings forecast revised on October 25 is unchanged, with sales down 0.9% from the previous fiscal year to 400 billion yen, operating income down 52.2% to 4 billion yen, ordinary profit down 51.5% to 4 billion yen, and net income attributable to parent company shareholders falling 22.3% to 3.8 billion yen.