Asahi reports Q2 dip but maintains full-year forecast and dividend

Asahi announced its non-consolidated financial results for the second quarter of the fiscal year ending February 2026, reporting net sales of 45,900 million yen, a 1.1% decrease from the previous year, and operating profit of 3,756 million yen, down 21.1%. This mid-year decline is attributed to lower sales volumes, despite improvements in product mix and increased repairs. The company plans to counteract this by strengthening its OMO and CRM strategies, implementing additional campaigns, and refining its reuse business, targeting a full-year net sales increase to 85,800 million yen.

For the full fiscal year ending February 2026, Asahi maintains its initial forecast, anticipating net sales of 85,800 million yen and operating profit of 5,620 million yen. The company aims for a gross profit margin improvement through cost reduction initiatives for its Asahi brand and intends to optimize SG&A expenses. Capital expenditures are projected to increase by 26.3% to 3,504 million yen, supporting growth foundations in digital, IT, logistics, and store expansion.

In line with its shareholder return policy, Asahi has declared an interim dividend of 25.00 yen per share for the fiscal year ending February 2026, consistent with its initial forecast. This maintains the projected annual dividend at 50.00 yen per share, targeting a payout ratio of 35%.