Worth reading
47Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
3677
¥ million (year-on-year increase in net sales)Wording
Definitive
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ended February 20266 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Gross Profit MarginMargin: Not disclosed. The Company stated that its efforts to maintain costs were effective. Year-on-year change: Not disclosed
Results for the three months of the current quarterCompany-wide revenue on a standalone basis was 105.5% of the year-earlier level, while revenue at existing directly operated stores was 103.2% of the year-earlier level. The Company opened 17 stores and closed 42 stores. Standalone three-month profit figures: Not disclosed
Full-year earnings forecastThe Company plans higher revenue and profits for the fiscal year ending February 2027. Forecasts by line item: Not disclosed
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue fell short of the plan, while profit at every level significantly exceeded the planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Operating profit increased by ¥682 million from the previous fiscal year, as the increase in gross profit exceeded the increase in selling, general and administrative expenses. Ordinary profit increased by ¥616 million, reflecting the increase in operating profit. Net income increased by ¥610 million. Factors increasing cash flow from operating activities included a ¥1,001 million increase in net income and a ¥2,571 million increase in trade payables. The increase in notes and accounts receivable was a ¥991 million factor reducing cash flow.
New initiatives
- Launch of a new medium-term management plan
- Development of a highly efficient store-opening model using AI
- Acceleration of self-checkout implementation
- Use of AI in head-office operations
- Strengthening brand communications through Instagram and X
Key KPIsA metric the company considers important as a management benchmark.
- Company-wide revenue on a standalone basis (December–February)105.5 % year on year
- Company-wide revenue on a standalone basis (cumulative fourth quarter)104.2 % year on year
- Revenue at existing directly operated stores (December–February)103.2 % year on year
- Revenue at existing directly operated stores (cumulative fourth quarter)101.3 % year on year
- Inventory turnoverImproved by 0.28 from the previous fiscal year
Medium-term management plan targets
As of the end of the fiscal year ending February 2031: 1,605 stores, revenue of ¥100,000 million, net income of ¥1,000 million, and a net profit margin of 1.0%. The number of stores will increase by 250 from the end of the fiscal year ended February 2026.Number of stores and locations
Store openings totaled 17 from December to February and 113 cumulatively in the fourth quarter. Store closures totaled 42 from December to February and 98 cumulatively in the fourth quarter. For the fiscal year ending February 2027, the Company plans to open 85 stores and close 45 stores, with 1,395 stores planned at fiscal year-end.| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ended February 2026 |
| Gross Profit Margin | Margin: Not disclosed. The Company stated that its efforts to maintain costs were effective. Year-on-year change: Not disclosed |
| Results for the three months of the current quarter | Company-wide revenue on a standalone basis was 105.5% of the year-earlier level, while revenue at existing directly operated stores was 103.2% of the year-earlier level. The Company opened 17 stores and closed 42 stores. Standalone three-month profit figures: Not disclosed |
| Full-year earnings forecast | The Company plans higher revenue and profits for the fiscal year ending February 2027. Forecasts by line item: Not disclosed |
| Self-assessment against the plan | Revenue fell short of the plan, while profit at every level significantly exceeded the plan |
| Breakdown of Factors Affecting the Change | Operating profit increased by ¥682 million from the previous fiscal year, as the increase in gross profit exceeded the increase in selling, general and administrative expenses. Ordinary profit increased by ¥616 million, reflecting the increase in operating profit. Net income increased by ¥610 million. Factors increasing cash flow from operating activities included a ¥1,001 million increase in net income and a ¥2,571 million increase in trade payables. The increase in notes and accounts receivable was a ¥991 million factor reducing cash flow. |
| Key KPIs | Indicator name Company-wide revenue on a standalone basis (December–February) / Value 105.5 % year on year, Indicator name Company-wide revenue on a standalone basis (cumulative fourth quarter) / Value 104.2 % year on year, Indicator name Revenue at existing directly operated stores (December–February) / Value 103.2 % year on year, Indicator name Revenue at existing directly operated stores (cumulative fourth quarter) / Value 101.3 % year on year, Indicator name Inventory turnover / Value Improved by 0.28 from the previous fiscal year |
| Number of stores and locations | Store openings totaled 17 from December to February and 113 cumulatively in the fourth quarter. Store closures totaled 42 from December to February and 98 cumulatively in the fourth quarter. For the fiscal year ending February 2027, the Company plans to open 85 stores and close 45 stores, with 1,395 stores planned at fiscal year-end. |
| Medium-term management plan targets | As of the end of the fiscal year ending February 2031: 1,605 stores, revenue of ¥100,000 million, net income of ¥1,000 million, and a net profit margin of 1.0%. The number of stores will increase by 250 from the end of the fiscal year ended February 2026. |
| New initiatives | Launch of a new medium-term management plan, Development of a highly efficient store-opening model using AI, Acceleration of self-checkout implementation, Use of AI in head-office operations, Strengthening brand communications through Instagram and X |
Items this document does not state (20)
Net SalesOperating profitOrdinary incomeNet incomeOperating profit marginSelling, general and administrative expensesProgress against full-year forecastSegment resultsUnit price and quantity metricsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / ShareKey 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.Revenue grew, and the increase in gross profit exceeded the increase in selling, general and administrative expenses. Profit increased due in part to efforts to maintain costs amid surging raw material prices and controls on labor hours that restrained miscellaneous wages and outsourced labor costs. In the fourth quarter, however, the Company recorded product disposal costs associated with product replacements, store-floor maintenance centered on fixture replacements, and an impairment loss of ¥322 million.
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