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Asahi Group, Jan-Sep (Cumulative 3Q) Net Income Decreases by 26%, Jul-Sep Net Income Decreases by 30%

Tue Mar 10, 2026 11:30 am JST Earnings

2502 Asahi Group Holdings,Ltd. 【IFRS】

Earnings Report

Asahi Group Holdings,Ltd. <2502> [TSE Prime] announced its financial results (based on IFRS) at noon (11:30) on March 10th. The consolidated net income for the cumulative third quarter of the fiscal year ending December 2025 (January to September) decreased 26.2% from the same period last year to 102 billion yen. Progress toward the full-year plan of 167 billion yen was 61.4%, also falling below the five-year average of 78.5%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to December period (4Q) is expected to grow 22.6% from the same period last year, reaching 64.6 billion yen.

In the most recent three-month period, from July to September (3Q), the consolidated net income decreased to 44.0 billion yen, a 30.0% decrease compared to the same period last year. The operating profit margin decreased from 11.3% in the same period last year to 8.4%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Sep, 2023 2,023,004 189,393 185,355 133,034 87.5 76.6 Nov 10, 2023 IFRS
Jan - Sep, 2024 2,167,952 193,480 190,850 139,318 91.7 71.5 Nov 14, 2024 IFRS
Jan - Sep, 2025 2,154,824 158,712 151,773 102,801 68.4 62.7 Mar 10, 2026 IFRS
YoY -0.6% -18.0% -20.5% -26.2% -25.4%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 1,560,456 164,952 164,042 115,714 76.3 27 Feb 14, 2025 IFRS
Jul - Dec, 2025 Guidance 1,590,449 162,731 154,579 108,775 74.4 26 Aug 7, 2025 IFRS
YoY +1.9% -1.3% -5.8% -6.0% -2.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 2,769,091 244,999 241,871 164,073 107.9 40.33 Feb 13, 2024 IFRS
Dec, 2024 2,939,422 269,052 266,990 192,080 126.7 49 Feb 14, 2025 IFRS
Dec, 2025 Guidance 2,950,000 255,000 242,000 167,500 114.5 52 Aug 7, 2025 IFRS
YoY +0.4% -5.2% -9.4% -12.8% -9.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 788,986 89,380 87,902 62,952 41.4 11.3 Nov 14, 2024 IFRS
Oct - Dec, 2024 771,470 75,572 76,140 52,762 34.8 9.8 Feb 14, 2025 IFRS
Jan - Mar, 2025 630,423 33,949 31,804 21,520 14.3 5.4 May 12, 2025 IFRS
Apr - Jun, 2025 729,128 58,320 55,617 37,205 24.8 8.0 Aug 7, 2025 IFRS
Jul - Sep, 2025 795,273 66,443 64,352 44,076 29.3 8.4 Mar 10, 2026 IFRS
YoY +0.8% -25.7% -26.8% -30.0% -29.2%

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