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SAPPORO HOLDINGS, 15 times Increase in Net Income, Update Record High for Second Consecutive Term, Dividend Effectively Increased

Fri Feb 13, 2026 2:00 pm JST Earnings

2501 SAPPORO HOLDINGS LIMITED 【IFRS】

Earnings Report

SAPPORO HOLDINGS LIMITED <2501> [TSE Prime] announced its financial results (based on IFRS) in the afternoon session on February 13th (14:00). The consolidated net income for the fiscal year ended December 2025 increased by 2.5 times that of the previous period to 19.4 billion yen, exceeding the previous forecast of 16.5 billion yen. For the fiscal year ending December 2026, the consolidated net income is expected to surge 15 times the previous term, reaching 296 billion yen, marking the second consecutive term of record-high profits.

At the same time, the annual dividend for this fiscal year is 40 yen, taking into account the forward stock split scheduled to be allocated on December 31, this dividend represents an actual increase of 2.2 times.

In the most recent three-month period, from October to December (4Q), the consolidated net income/loss turned to a profit of 8.60 billion yen (compared to a loss of 3.79 billion yen in the same period last year). The operating profit/loss margin drastically improved from -9.5% in the same period last year to 3.9%.

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Actual Results

Historical Performance
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 518,632 11,820 12,144 8,724 22.4 9.40 Feb 14, 2024 IFRS
Dec, 2024 512,434 5,645 7,217 7,714 19.8 10.40 Feb 14, 2025 IFRS
Dec, 2025 506,861 24,437 22,704 19,498 50.0 18 Feb 13, 2026 IFRS
YoY -1.1% +332.9% +214.6% +152.8% +152.6%

Full Year Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2025 Guidance 501,800 21,100 ー 16,500 42.3 18 Dec 24, 2025 IFRS
Dec, 2025 Results 506,861 24,437 22,704 19,498 50.0 18 Feb 13, 2026 IFRS
Revision Rate +1.0% +15.8% － +18.2% +18.2%

Current Period Guidance

H1 Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan - Jun, 2025 244,696 7,167 4,397 1,787 4.6 0 Aug 7, 2025 IFRS
Jan - Jun, 2026 Guidance ー ー ー ー － 20 Feb 13, 2026 IFRS
YoY － － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 512,434 5,645 7,217 7,714 19.8 10.40 Feb 14, 2025 IFRS
Dec, 2025 506,861 24,437 22,704 19,498 50.0 18 Feb 13, 2026 IFRS
Dec, 2026 Guidance 505,000 6,000 ー 296,000 759.3 40 Feb 13, 2026 IFRS
YoY -0.4% -75.4% － +1,418.1% +1,418.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 126,847 -12,026 -9,757 -3,791 -9.7 -9.5 Feb 14, 2025 IFRS
Jan - Mar, 2025 118,678 -2,227 -3,899 -4,222 -10.8 -1.9 May 13, 2025 IFRS
Apr - Jun, 2025 126,018 9,394 8,296 6,009 15.4 7.5 Aug 7, 2025 IFRS
Jul - Sep, 2025 137,893 12,411 12,370 9,105 23.4 9.0 Nov 12, 2025 IFRS
Oct - Dec, 2025 124,272 4,859 5,937 8,606 22.1 3.9 Feb 13, 2026 IFRS
YoY -2.0% － － － －

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