Earnings Presentation Materials for the Fiscal Year Ending March 2026 | 2nd RETAILING Co.,Ltd. (2681) timely disclosure

Worth reading

45Recurring

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Direction

Mixed performance

Direction inferred from the company’s description.

Scale

481249

¥ million

Wording

Conditional

How definitive the wording is.

Contents of this document

Financial results presentationFiscal year ending March 202610 items taken from the company’s own explanation

Financial Results Figures (The key points of this material are explained below)

Net Sales¥481,249 million+12.5%

Operating profit¥14,239 million+26.6%

Ordinary income¥15,348 million+25.6%

Net income¥8,738 million+92.6%

Gross Profit Margin39.4 %

Operating profit margin3 %

Selling, general and administrative expenses¥175,207 million

Full-year earnings forecast

Net Sales

¥510,000 million

Operating profit

¥13,000 million

Ordinary income

¥12,500 million

Net income

¥6,000 million

Operating profit margin

2.5 %

Number of company-operated stores

2,346 Location

ROE

5.48 %

Net D/E ratio

0.3 times

What the company explained in this material

Self-assessment against the planThe company's self-assessment against its own plan.

Selling, general and administrative expenses are broadly in line with assumptions

Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.

Increase in sales

¥53,580 million

Increase in gross profit

¥18,774 million

Increase in SG&A expenses

¥15,785 million

Increase in operating profit

¥2,989 million

Increase in ordinary income

¥3,123 million

Increase in net income

¥4,200 million

New initiatives

Launch of GEO DIGITAL BASE
Opening new 2nd STREET stores in Singapore and Hong Kong
Launch of RECOGENE (reuse alliance business)

Key KPIsA metric the company considers important as a management benchmark.

Total number of stores2,274 stores
Year on year against the same period last year+88.0%
2nd STREET stores1,079 stores
Year on year against the same period last year+86.0%
GEO stores1,027 stores
Year on year against the same period last year-27.0%
GEO and GEO mobile stores837 stores
Year on year against the same period last year+46.0%
Share of the reused smartphone and tablet market35 %
ROE8.91 %
PBR0.69 times
PER7.71 times

Medium-term management plan targets

Consolidated revenue in fiscal 2035

¥10,000 100 million

Number of stores in fiscal 2035

5,000 Location

Overseas stores in fiscal 2035

1,000 Location

Domestic 2nd STREET stores in the fiscal year ending March 2036

1,500 Location

Overseas 2nd STREET stores in the fiscal year ending March 2036

1,000 Location

Luck Rack stores in the fiscal year ending March 2036

500 Location

Financial targets

ROE target8% or higher

Actual ROE8.91%

Forecast Net D/E ratio0.30 times

Actual net debt-to-equity ratio0.33 times

Actual PBR0.69x

Market Size / Share

Global reuse market in 2026

245 US$ billion

Global reuse market in 2036

1,169 US$ billion

Share of the reused smartphone and tablet market

35 %

Domestic market share of apparel and fashion accessories

16 %

Domestic market share of branded goods

14 %

Domestic market share of furniture and home appliances

4 %

Number of stores and locations

Total stores at period-end2,274 stores

Stores opened during the period183 stores

Store closures during the period73 stores

Capital expenditures

¥13,131 millions purchases of property, plant and equipment

Annual Dividend

Annual dividend amount

¥34 per share

Interim Dividend

¥17 per share

Year-end dividend

¥17 per share

Contents of this document
Item	Details
Document type	Financial results presentation
Fiscal Period Covered	Fiscal year ending March 2026
Net Sales	¥481,249 million (YoY +12.5%)
Operating profit	¥14,239 million (YoY +26.6%)
Ordinary income	¥15,348 million (YoY +25.6%)
Net income	¥8,738 million (YoY +92.6%)
Gross Profit Margin	39.4 %
Operating profit margin	3 %
Selling, general and administrative expenses	¥175,207 million
Full-year earnings forecast	Net Sales ¥510,000 million / Operating profit ¥13,000 million / Ordinary income ¥12,500 million / Net income ¥6,000 million / Operating profit margin 2.5 % / Number of company-operated stores 2,346 Location / ROE 5.48 % / Net D/E ratio 0.3 times
Self-assessment against the plan	Selling, general and administrative expenses are broadly in line with assumptions
Breakdown of Factors Affecting the Change	Increase in sales ¥53,580 million / Increase in gross profit ¥18,774 million / Increase in SG&A expenses ¥15,785 million / Increase in operating profit ¥2,989 million / Increase in ordinary income ¥3,123 million / Increase in net income ¥4,200 million
Key KPIs	Total number of stores 2,274 stores, 2nd STREET stores 1,079 stores, GEO stores 1,027 stores, GEO and GEO mobile stores 837 stores, Share of the reused smartphone and tablet market 35 %, ROE 8.91 %, PBR 0.69 times, PER 7.71 times
Number of stores and locations	Total stores at period-end 2,274 stores / Stores opened during the period 183 stores / Store closures during the period 73 stores
Medium-term management plan targets	Consolidated revenue in fiscal 2035 ¥10,000 100 million / Number of stores in fiscal 2035 5,000 Location / Overseas stores in fiscal 2035 1,000 Location / Domestic 2nd STREET stores in the fiscal year ending March 2036 1,500 Location / Overseas 2nd STREET stores in the fiscal year ending March 2036 1,000 Location / Luck Rack stores in the fiscal year ending March 2036 500 Location
Financial targets	ROE target 8% or higher / Actual ROE 8.91% / Forecast Net D/E ratio 0.30 times / Actual net debt-to-equity ratio 0.33 times / Actual PBR 0.69x
Annual Dividend	Annual dividend amount ¥34 per share / Interim Dividend ¥17 per share / Year-end dividend ¥17 per share
Capital expenditures	¥13,131 millions (purchases of property, plant and equipment)
Market Size / Share	Global reuse market in 2026 245 US$ billion / Global reuse market in 2036 1,169 US$ billion / Share of the reused smartphone and tablet market 35 % / Domestic market share of apparel and fashion accessories 16 % / Domestic market share of branded goods 14 % / Domestic market share of furniture and home appliances 4 %
New initiatives	Launch of GEO DIGITAL BASE, Opening new 2nd STREET stores in Singapore and Hong Kong, Launch of RECOGENE (reuse alliance business)

Items this document does not state (11)

Results for the three months of the current quarterProgress against full-year forecastSegment resultsUnit price and quantity metricsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookPayout ratioAcquisition of treasury sharesOrders received and order backlogKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

In the fiscal year ended March 2026, results were supported by growth in reused apparel and fashion accessories, proactive store openings in Japan and overseas, growing consumer interest in reuse, and a stable supply of Nintendo Switch 2 consoles. In the fiscal year ending March 2027, wage increases, soaring prices and higher store-opening costs are expected to pressure profit.

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