DISCLAIMER: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
May 9, 2025
Company name: XEBIO HOLDINGS CO., LTD. Listing: Tokyo Stock Exchange
Securities code: 8281
URL: https://http://www.xebio.co.jp
Representative: Tomoyoshi Morohashi, President & CEO Inquiries: Kazuhiko Nakamura, CFO
Telephone: +81-3-6870-6008
Scheduled date of annual general meeting of shareholders: June 27, 2025 Scheduled date to commence dividend payments: June 12, 2025
Scheduled date to file annual securities report: June 27, 2025 Preparation of supplementary material on financial results: Yes
Holding of financial results briefing: Yes
(Yen amounts are rounded down to millions, unless otherwise noted.)
-
Consolidated financial results for the fiscal year ended March 31, 2025 (from April 1, 2024 to March 31, 2025)
-
Consolidated operating results (Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Fiscal year ended
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
March 31, 2025
250,603
3.4
7,006
66.6
7,618
40.9
971
(62.5)
March 31, 2024
242,433
1.3
4,204
(49.5)
5,405
(41.5)
2,592
(52.0)
Note: Comprehensive income For the fiscal year ended March 31, 2025:
¥1,639 million
[(53.6)%]
For the fiscal year ended March 31, 2024:
¥3,531 million
[(33.3)%]
Basic earnings per share
Diluted earnings per share
Return on equity
Ratio of ordinary profit to total assets
Ratio of operating profit to net sales
Fiscal year ended
Yen
Yen
%
%
%
March 31, 2025
22.61
22.46
0.8
3.7
2.8
March 31, 2024
58.62
58.31
2.1
2.6
1.7
-
Consolidated financial position
Total assets
Net assets
Equity-to-asset ratio
Net assets per share
As of
Millions of yen
Millions of yen
%
Yen
March 31, 2025
203,959
122,131
59.5
2,916.65
March 31, 2024
209,530
124,813
59.2
2,806.34
Reference: Equity
As of March 31, 2025: ¥121,324 million
As of March 31, 2024: ¥124,070 million
- Consolidated cash flows
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Cash and cash equivalents at end of period
Fiscal year ended
Millions of yen
Millions of yen
Millions of yen
Millions of yen
March 31, 2025
12,057
(9,598)
(7,531)
19,855
March 31, 2024
4,274
(8,041)
(4,138)
24,941
-
Consolidated operating results (Percentages indicate year-on-year changes.)
-
Cash dividends
Annual dividends per share
Total cash dividends (Total)
Payout ratio (Consolidated)
Ratio of dividends to net assets (Consolidated)
First quarter-end
Second quarter-end
Third quarter-end
Fiscal year-end
Total
Yen
Yen
Yen
Yen
Yen
Millions of yen
%
%
Fiscal year ended March 31, 2024
-
15.00
-
15.00
30.00
1,326
51.2
1.1
Fiscal year ended March 31, 2025
-
15.00
-
17.50
32.50
1,374
143.7
1.1
Fiscal year ending March 31, 2026 (Forecast)
17.50
17.50
35.00
154.5
- Forecast of consolidated financial results for the fiscal year ending March 31, 2026 (from April 1, 2025 to March 31, 2026)
(Percentages indicate year-on-year changes.)
Net sales | Operating profit | Ordinary profit | Profit attributable to owners of parent | Basic earnings per share | |||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Six months ending September 30, 2025 | 131,123 | 4.7 | 3,663 | (10.8) | 3,884 | (8.6) | 540 | (73.2) | 12.56 |
Fiscal year ending March 31, 2026 | 264,305 | 5.5 | 7,223 | 3.1 | 7,718 | 1.3 | 974 | 0.2 | 22.66 |
Significant changes in the scope of consolidation during the period: None
Changes in accounting policies, changes in accounting estimates, and restatement
Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
Changes in accounting policies due to other reasons: None
Changes in accounting estimates: Yes
Restatement: None
Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2025
47,911,023 shares
As of March 31, 2024
47,911,023 shares
Number of treasury shares at the end of the period
As of March 31, 2025
6,313,866 shares
As of March 31, 2024
3,700,367 shares
Average number of shares outstanding during the period
Fiscal year ended March 31, 2025 | 42,968,941 shares |
Fiscal year ended March 31, 2024 | 44,210,662 shares |
-
Non-consolidated operating results (Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Profit
Fiscal year ended
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
March 31, 2025
10,255
(10.9)
1,831
(36.4)
2,403
(40.4)
38
(98.8)
March 31, 2024
11,503
14.1
2,879
(20.8)
4,035
(9.6)
3,168
(16.6)
Basic earnings per share
Diluted earnings per share
Fiscal year ended
Yen
Yen
March 31, 2025
0.88
0.88
March 31, 2024
71.66
71.28
- Non-consolidated financial position
Total assets | Net assets | Equity-to-asset ratio | Net assets per share | |
As of | Millions of yen | Millions of yen | % | Yen |
March 31, 2025 | 118,479 | 110,412 | 92.9 | 2,644.80 |
March 31, 2024 | 122,541 | 114,520 | 93.1 | 2,581.70 |
Reference: Equity
As of March 31, 2025: ¥110,016 million
As of March 31, 2024: ¥114,138 million
Financial results reports are exempt from audit conducted by certified public accountants or an audit firm.
Proper use of earnings forecasts, and other special matters
Earnings forecasts are based on data as of today, and actual results may differ from these forecasts due to various uncertainties inherent in the forecasts.
Consolidated balance sheet | |||
(Millions of yen) | |||
As of March 31, 2024 | As of March 31, 2025 | ||
Assets | |||
Current assets | |||
Cash and deposits | 24,941 | 19,855 | |
Notes and accounts receivable - trade | 22,584 | 20,554 | |
Operating loans | 809 | 699 | |
Merchandise | 82,943 | 81,540 | |
Income taxes refund receivable | 239 | 54 | |
Other | 8,850 | 8,614 | |
Allowance for doubtful accounts | (399) | (591) | |
Total current assets | 139,969 | 130,727 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures | 53,162 | 55,747 | |
Accumulated depreciation | (38,614) | (40,429) | |
Buildings and structures, net | 14,547 | 15,318 | |
Land | 14,066 | 14,564 | |
Leased assets | 6,072 | 6,148 | |
Accumulated depreciation | (2,308) | (2,774) | |
Leased assets, net | 3,763 | 3,374 | |
Construction in progress | 199 | 1,763 | |
Other | 24,264 | 24,294 | |
Accumulated depreciation | (20,302) | (20,004) | |
Other, net | 3,961 | 4,290 | |
Total property, plant and equipment | 36,539 | 39,310 | |
Intangible assets | |||
Goodwill | 44 | 24 | |
Software | 5,659 | 6,316 | |
Other | 2,500 | 2,384 | |
Total intangible assets | 8,203 | 8,725 | |
Investments and other assets | |||
Investment securities | 2,521 | 2,733 | |
Long-term loans receivable | 6 | 0 | |
Deferred tax assets | 3,792 | 3,838 | |
Guarantee deposits | 1,267 | 1,118 | |
Leasehold deposits | 13,972 | 14,236 | |
Investment property | 3,119 | 2,207 | |
Accumulated depreciation | (1,305) | (594) | |
Investment property, net | 1,813 | 1,613 | |
Retirement benefit asset | 1,055 | 1,266 | |
Other | 549 | 525 | |
Allowance for doubtful accounts | (161) | (135) | |
Total investments and other assets | 24,818 | 25,196 | |
Total non-current assets | 69,561 | 73,231 | |
Total assets | 209,530 | 203,959 | |
(Millions of yen)
As of March 31, 2024 | As of March 31, 2025 | |||
Liabilities | ||||
Current liabilities | ||||
Notes and accounts payable - trade | 17,535 | 16,264 | ||
Electronically recorded obligations - operating | 32,966 | 30,128 | ||
Short-term borrowings | 700 | 500 | ||
Current portion of long-term borrowings | 1,838 | 967 | ||
Income taxes payable | 547 | 2,188 | ||
Provision for bonuses | 1,319 | 1,253 | ||
Provision for bonuses for directors (and other officers) | 15 | 15 | ||
Provision for point card certificates | 170 | 130 | ||
Other | 15,467 | 15,121 | ||
Total current liabilities | 70,559 | 66,568 | ||
Non-current liabilities | ||||
Long-term borrowings | 2,936 | 1,982 | ||
Lease liabilities | 4,479 | 3,917 | ||
Retirement benefit liability | 842 | 770 | ||
Provision for retirement benefits for directors (and other officers) | 59 | 59 | ||
Asset retirement obligations | 4,991 | 8,040 | ||
Other | 847 | 489 | ||
Total non-current liabilities | 14,157 | 15,259 | ||
Total liabilities | 84,717 | 81,827 | ||
Net assets | ||||
Shareholders' equity | ||||
Share capital | 15,935 | 15,935 | ||
Capital surplus | 16,119 | 16,106 | ||
Retained earnings | 97,765 | 97,427 | ||
Treasury shares | (6,498) | (9,511) | ||
Total shareholders' equity | 123,321 | 119,958 | ||
Accumulated other comprehensive income | ||||
Valuation difference on available-for-sale securities | 442 | 617 | ||
Foreign currency translation adjustment | (32) | 259 | ||
Remeasurements of defined benefit plans | 337 | 489 | ||
Total accumulated other comprehensive income | 748 | 1,366 | ||
Share acquisition rights | 381 | 395 | ||
Non-controlling interests | 361 | 411 | ||
Total net assets | 124,813 | 122,131 | ||
Total liabilities and net assets | 209,530 | 203,959 |
Consolidated statement of income | |||
(Millions of yen) | |||
Fiscal year ended March 31, 2024 | Fiscal year ended March 31, 2025 | ||
Net sales | 242,433 | 250,603 | |
Cost of sales | 149,546 | 152,931 | |
Gross profit | 92,887 | 97,671 | |
Selling, general and administrative expenses | 88,682 | 90,665 | |
Operating profit | 4,204 | 7,006 | |
Non-operating income | |||
Interest income | 84 | 15 | |
Dividend income | 14 | 24 | |
Rental income from real estate | 747 | 586 | |
Foreign exchange gains | 555 | 197 | |
Outsourcing service income | 389 | 575 | |
Subsidy income | 13 | - | |
Other | 427 | 406 | |
Total non-operating income | 2,232 | 1,805 | |
Non-operating expenses | |||
Interest expenses | 104 | 105 | |
Rental expenses on real estate | 453 | 434 | |
Commission expenses | 321 | 473 | |
Other | 151 | 180 | |
Total non-operating expenses | 1,031 | 1,194 | |
Ordinary profit | 5,405 | 7,618 | |
(Millions of yen)
Fiscal year ended March 31, 2024 | Fiscal year ended March 31, 2025 | |||
Extraordinary income | ||||
Gain on sale of non-current assets | 2 | 5 | ||
Insurance claim income | 40 | 96 | ||
Compensation income relating store relocation | 45 | - | ||
Gain on reversal of share acquisition rights | 0 | 35 | ||
Gain on sale of investment securities | 4 | 45 | ||
Distributions of profit or loss on silent partnerships | - | 299 | ||
Total extraordinary income | 93 | 482 | ||
Extraordinary losses | ||||
Loss on retirement of non-current assets | 30 | 151 | ||
Loss on sale of non-current assets | 0 | 15 | ||
Impairment losses | 694 | 3,689 | ||
Loss on disaster | 105 | 11 | ||
Loss on store closings | 25 | - | ||
Loss on cancellation of rental contracts | 14 | 53 | ||
Loss on cancellation of leases | - | 1 | ||
Loss on valuation of investment securities | - | 500 | ||
Loss on point system | 106 | - | ||
Loss on sale of businesses | - | 97 | ||
loss on foreign currency translation adjustment | - | 158 | ||
Extra retirement payments | - | 344 | ||
Total extraordinary losses | 977 | 5,023 | ||
Profit before income taxes | 4,521 | 3,077 | ||
Income taxes - current | 1,434 | 2,279 | ||
Income taxes - deferred | 355 | (181) | ||
Total income taxes | 1,789 | 2,098 | ||
Profit | 2,731 | 979 | ||
Profit attributable to non-controlling interests | 139 | 8 | ||
Profit attributable to owners of parent | 2,592 | 971 |
Consolidated statement of comprehensive income | |||
(Millions of yen) | |||
Fiscal year ended March 31, 2024 | Fiscal year ended March 31, 2025 | ||
Profit | 2,731 | 979 | |
Other comprehensive income | |||
Valuation difference on available-for-sale securities | 257 | 174 | |
Foreign currency translation adjustment | (209) | 333 | |
Remeasurements of defined benefit plans, net of tax | 753 | 151 | |
Total other comprehensive income | 800 | 659 | |
Comprehensive income | 3,531 | 1,639 | |
Comprehensive income attributable to | |||
Comprehensive income attributable to owners of parent | 3,372 | 1,589 | |
Comprehensive income attributable to non-controlling interests | 158 | 49 | |
(Millions of yen)
Shareholders' equity | |||||
Share capital | Capital surplus | Retained earnings | Treasury shares | Total shareholders' equity | |
Balance at beginning of period | 15,935 | 16,119 | 96,499 | (6,498) | 122,056 |
Dividends of surplus | (1,326) | (1,326) | |||
Profit attributable to owners of parent | 2,592 | 2,592 | |||
Purchase of treasury shares | (0) | (0) | |||
Disposal of treasury shares | |||||
Transfer of loss on disposal of treasury shares | |||||
Net changes in items other than shareholders' equity | - | ||||
Total changes during period | - | - | 1,265 | (0) | 1,265 |
Balance at end of period | 15,935 | 16,119 | 97,765 | (6,498) | 123,321 |
Accumulated other comprehensive income | Share acquisition rights | Non-controlling interests | Total net assets | ||||
Valuation difference on available-for-sale securities | Foreign currency translation adjustment | Remeasurements of defined benefit plans | Total accumulated other comprehensive income | ||||
Balance at beginning of period | 185 | 197 | (415) | (32) | 341 | 202 | 122,567 |
Dividends of surplus | (1,326) | ||||||
Profit attributable to owners of parent | 2,592 | ||||||
Purchase of treasury shares | (0) | ||||||
Disposal of treasury shares | |||||||
Transfer of loss on disposal of treasury shares | |||||||
Net changes in items other than shareholders' equity | 257 | (229) | 753 | 780 | 40 | 158 | 980 |
Total changes during period | 257 | (229) | 753 | 780 | 40 | 158 | 2,245 |
Balance at end of period | 442 | (32) | 337 | 748 | 381 | 361 | 124,813 |
(Millions of yen)
Shareholders' equity | |||||
Share capital | Capital surplus | Retained earnings | Treasury shares | Total shareholders' equity | |
Balance at beginning of period | 15,935 | 16,119 | 97,765 | (6,498) | 123,321 |
Dividends of surplus | - | - | (1,309) | - | (1,309) |
Profit attributable to owners of parent | - | - | 971 | - | 971 |
Purchase of treasury shares | - | - | - | (3,056) | (3,056) |
Disposal of treasury shares | 43 | 43 | |||
Transfer of loss on disposal of treasury shares | (13) | (13) | |||
Net changes in items other than shareholders' equity | - | - | - | - | - |
Total changes during period | - | (13) | (337) | (3,012) | (3,363) |
Balance at end of period | 15,935 | 16,106 | 97,427 | (9,511) | 119,958 |
Accumulated other comprehensive income | Share acquisition rights | Non-controlling interests | Total net assets | ||||
Valuation difference on available-for-sale securities | Foreign currency translation adjustment | Remeasurements of defined benefit plans | Total accumulated other comprehensive income | ||||
Balance at beginning of period | 442 | (32) | 337 | 748 | 381 | 361 | 124,813 |
Dividends of surplus | - | - | - | - | - | - | (1,309) |
Profit attributable to owners of parent | - | - | - | - | - | - | 971 |
Purchase of treasury shares | - | - | - | - | - | - | (3,056) |
Disposal of treasury shares | 43 | ||||||
Transfer of loss on disposal of treasury shares | (13) | ||||||
Net changes in items other than shareholders' equity | 174 | 291 | 151 | 618 | 14 | 49 | 682 |
Total changes during period | 174 | 291 | 151 | 618 | 14 | 49 | (2,681) |
Balance at end of period | 617 | 259 | 489 | 1,366 | 395 | 411 | 122,131 |
(Millions of yen)
Fiscal year ended March 31, 2025Cash flows from operating activities | ||
Profit before income taxes | 4,521 | 3,077 |
Depreciation | 4,806 | 5,909 |
Impairment losses | 694 | 3,689 |
Amortization of goodwill | 286 | 21 |
Increase (decrease) in allowance for doubtful accounts | (46) | 166 |
Increase (decrease) in provision for bonuses | 19 | (65) |
Increase (decrease) in provision for point card certificates | 91 | (39) |
Increase (decrease) in contract liabilities | (132) | 32 |
Increase (decrease) in retirement benefit liability | (20) | (72) |
Decrease (increase) in retirement benefit asset | (952) | (210) |
Interest and dividend income | (99) | (40) |
Interest expenses | 104 | 105 |
Insurance claim income | (40) | (96) |
Subsidy income | (13) | - |
Gain on sale of non-current assets | (2) | (5) |
Gain on reversal of share acquisition rights | (0) | (35) |
Loss (gain) on valuation of investment securities | - | 500 |
Loss (gain) on sale of investment securities | (4) | (45) |
Loss on retirement of non-current assets | 30 | 151 |
Loss on sale of non-current assets | 0 | 15 |
Loss on disaster | 105 | 11 |
Loss on store closings | 25 | - |
Loss on cancellation of rental contracts | 14 | 53 |
Compensation income relating store relocation | (45) | - |
Loss on point system | 106 | - |
Distribution of profit or loss silent partnerships | - | (299) |
Loss on foreign currency translation adjustment | - | 158 |
Extra retirement payments | - | 344 |
Loss (gain) on sale of businesses | - | 97 |
Decrease (increase) in trade receivables | 963 | 2,174 |
Decrease (increase) in operating loans receivable | 69 | 109 |
Decrease (increase) in inventories | (2,037) | 1,593 |
Increase (decrease) in trade payables | (2,026) | (4,177) |
Increase (decrease) in accounts payable - other | 864 | (918) |
Increase (decrease) in accrued consumption taxes | (131) | 677 |
Other, net | (521) | (401) |
Subtotal | 6,629 | 12,483 |
Interest and dividends received | 99 | 40 |
Interest paid | (75) | (106) |
Income taxes paid | (2,635) | (696) |
Income taxes refund | 157 | 239 |
Proceeds from insurance income | 40 | 96 |
Subsidies received | 13 | - |
Proceeds from compensation for forced relocation | 45 | - |
Net cash provided by (used in) operating activities | 4,274 | 12,057 |
(Millions of yen)
Fiscal year ended March 31, 2024 | Fiscal year ended March 31, 2025 | |||
Cash flows from investing activities | ||||
Purchase of property, plant and equipment | (4,325) | (6,708) | ||
Proceeds from sale of property, plant and equipment | 14 | 103 | ||
Payments for retirement of property, plant and equipment | (1) | (35) | ||
Purchase of intangible assets | (2,807) | (2,175) | ||
Purchase of long-term prepaid expenses | (112) | (168) | ||
Purchase of investment securities | (1,193) | (455) | ||
Proceeds from sale of investment securities | 17 | 63 | ||
Payments of leasehold and guarantee deposits | (876) | (972) | ||
Proceeds from refund of leasehold and guarantee deposits | 1,157 | 852 | ||
Refund of guarantee deposits received | (19) | (56) | ||
Guarantee deposits received | 31 | 30 | ||
Proceeds from share of profits on investments in capital | - | 26 | ||
Purchase of shares of subsidiaries resulting in change in scope of consolidation | - | (8) | ||
Other, net | 74 | (95) | ||
Net cash provided by (used in) investing activities | (8,041) | (9,598) | ||
Cash flows from financing activities | ||||
Net increase (decrease) in short-term borrowings | (100) | (200) | ||
Repayments of long-term borrowings | (1,836) | (1,836) | ||
Repayments of lease liabilities | (864) | (1,154) | ||
Purchase of treasury shares | (0) | (3,056) | ||
Proceeds from exercise of employee share options | - | 25 | ||
Dividends paid | (1,336) | (1,309) | ||
Net cash provided by (used in) financing activities | (4,138) | (7,531) | ||
Effect of exchange rate change on cash and cash equivalents | (43) | (33) | ||
Net increase (decrease) in cash and cash equivalents | (7,949) | (5,106) | ||
Cash and cash equivalents at beginning of period | 32,890 | 24,941 | ||
Increase in cash and cash equivalents resulting from inclusion of subsidiaries in consolidation | - | 20 | ||
Cash and cash equivalents at end of period | 24,941 | 19,855 |