Worth reading
83Important
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
18.353
¥1 billion (increase in revenue year on year)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ending March 2027: second quarter10 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥521,652 million+3.6%
Operating profit¥5,767 million-21.9%
Ordinary income¥5,641 million-25.3%
Net income¥3,715 million-26.3%
Gross Profit Margin9.7
Operating profit margin1.1
Selling, general and administrative expenses¥44,978 million
Results for the three months of the current quarter
Net Sales
¥257,897 million+2.3%
Gross profit
¥25,064 million+2.3%
Selling, General and Administrative Expenses
¥22,392 million+5.7%
Operating profit
¥2,672 million-19.4%
Ordinary income
¥2,489 million-26.7%
Net income
¥1,676 million-25.5%
EBITDA
¥4,082 million-10.2%
Full-year earnings forecast
Net Sales
¥1,030,000 million
Operating profit
¥11,000 million
Ordinary income
¥10,500 million
Profit attributable to owners of the parent
¥7,000 million
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Net Sales50.6 %
Operating profit52.4 %
Ordinary income53.7 %
Profit attributable to owners of the parent53.1 %
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Achieved the 2Q plan and 50% progress against the full-year plan; performance is in line with the planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Operating profit
Increase in sales¥1,801 million
Decline in gross margin¥-468 million
Increase in personnel expenses¥-484 million
Increase in logistics costs¥-1,163 million
Increase in other SG&A expenses¥-1,301 million
New initiatives
- Expansion into additional categories for exclusive and priority-distribution products
- Optimization of transaction prices and terms
- Improving logistics efficiency and optimizing staffing through DX
- Development of a new Kansai center (investment of approximately ¥10 billion; scheduled to begin operations in spring 2028)
- Data analysis linking True Data’s ID-POS data with product information
- Joint distribution among group companies
- Restructuring the overseas business through withdrawal from the China business
Key KPIsA metric the company considers important as a management benchmark.
Revenue reaches a record high for 12 consecutive periods12 consecutive periods
In-Store ShareExpanding
Exclusive-sale and priority-distribution productsStrong
Kansai-area logistics capacity20% UP
Revenue per employeeUp approximately 20%
Segment results
By category
H&B
Net Sales¥168,724 million
Year on year against the same period last year+8.1%
Pet
Net Sales¥98,250 million
Year on year against the same period last year+2.8%
Paper products
Net Sales¥94,154 million
Year on year against the same period last year-0.2%
Household
Net Sales¥71,636 million
Year on year against the same period last year+1.2%
Home Care
Net Sales¥47,093 million
Year on year against the same period last year+4.8%
Household products
Net Sales¥31,472 million
Year on year against the same period last year+3.1%
Other
Net Sales¥11,020 million
Year on year against the same period last year-6.4%
By business type
Drugstores
Net Sales¥272,608 million
Year on year against the same period last year+4.6%
Home-center business
Net Sales¥68,690 million
Year on year against the same period last year-2.2%
Supermarkets
Net Sales¥55,612 million
Year on year against the same period last year+0.8%
Discount stores
Net Sales¥42,990 million
Year on year against the same period last year+5.7%
GMS
Net Sales¥15,835 million
Year on year against the same period last year-10.7%
Other
Net Sales¥65,915 million
Year on year against the same period last year+12.0%
Medium-term management plan targets
Net Sales
¥11,600 100 million
Target fiscal yearMedium-Term Management Plan 2030
Ordinary income
¥160 100 million
Target fiscal yearMedium-Term Management Plan 2030
EBITDA
¥240 100 million
Target fiscal yearMedium-Term Management Plan 2030
ROE
8% or higher
Target fiscal yearMedium-Term Management Plan 2030
Financial targets
ROE
Medium-Term Plan 2026 actual8.4%
Medium-Term Management Plan 2030 target8% or higher
Capital expenditures
¥100 100 million new Kansai center
Annual Dividend
112 yen per share
Interim56
End of period56
Payout ratio
53.5| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ending March 2027: second quarter |
| Net Sales | ¥521,652 million (YoY +3.6%) |
| Operating profit | ¥5,767 million (YoY -21.9%) |
| Ordinary income | ¥5,641 million (YoY -25.3%) |
| Net income | ¥3,715 million (YoY -26.3%) |
| Gross Profit Margin | 9.7 |
| Operating profit margin | 1.1 |
| Selling, general and administrative expenses | ¥44,978 million |
| Results for the three months of the current quarter | Net Sales ¥257,897 million (YoY +2.3%) / Gross profit ¥25,064 million (YoY +2.3%) / Selling, General and Administrative Expenses ¥22,392 million (YoY +5.7%) / Operating profit ¥2,672 million (YoY -19.4%) / Ordinary income ¥2,489 million (YoY -26.7%) / Net income ¥1,676 million (YoY -25.5%) / EBITDA ¥4,082 million (YoY -10.2%) |
| Full-year earnings forecast | Net Sales ¥1,030,000 million / Operating profit ¥11,000 million / Ordinary income ¥10,500 million / Profit attributable to owners of the parent ¥7,000 million |
| Progress against full-year forecast | Net Sales 50.6 % / Operating profit 52.4 % / Ordinary income 53.7 % / Profit attributable to owners of the parent 53.1 % |
| Self-assessment against the plan | Achieved the 2Q plan and 50% progress against the full-year plan; performance is in line with the plan |
| Segment results | By category H&B Net Sales ¥168,724 million / yoy_pct ¥8.1 million / Pet Net Sales ¥98,250 million / yoy_pct ¥2.8 million / Paper products Net Sales ¥94,154 million / yoy_pct ¥-0.2 million / Household Net Sales ¥71,636 million / yoy_pct ¥1.2 million / Home Care Net Sales ¥47,093 million / yoy_pct ¥4.8 million / Household products Net Sales ¥31,472 million / yoy_pct ¥3.1 million / Other Net Sales ¥11,020 million / yoy_pct ¥-6.4 million / By business type Drugstores Net Sales ¥272,608 million / yoy_pct ¥4.6 million / Home-center business Net Sales ¥68,690 million / yoy_pct ¥-2.2 million / Supermarkets Net Sales ¥55,612 million / yoy_pct ¥0.8 million / Discount stores Net Sales ¥42,990 million / yoy_pct ¥5.7 million / GMS Net Sales ¥15,835 million / yoy_pct ¥-10.7 million / Other Net Sales ¥65,915 million / yoy_pct ¥12 million |
| Breakdown of Factors Affecting the Change | Operating profit Increase in sales ¥1,801 million / Decline in gross margin ¥-468 million / Increase in personnel expenses ¥-484 million / Increase in logistics costs ¥-1,163 million / Increase in other SG&A expenses ¥-1,301 million |
| Key KPIs | Revenue reaches a record high for 12 consecutive periods 12 consecutive periods / In-Store Share Expanding / Exclusive-sale and priority-distribution products Strong / Kansai-area logistics capacity 20% UP / Revenue per employee Up approximately 20% |
| Medium-term management plan targets | Net Sales ¥11,600 100 million / Ordinary income ¥160 100 million / EBITDA ¥240 100 million / ROE 8% or higher |
| Financial targets | ROE Medium-Term Plan 2026 actual 8.4% / Medium-Term Management Plan 2030 target 8% or higher |
| Annual Dividend | 112 yen per share |
| Payout ratio | 53.5 |
| Capital expenditures | ¥100 100 million (new Kansai center) |
| New initiatives | Expansion into additional categories for exclusive and priority-distribution products, Optimization of transaction prices and terms, Improving logistics efficiency and optimizing staffing through DX, Development of a new Kansai center (investment of approximately ¥10 billion; scheduled to begin operations in spring 2028), Data analysis linking True Data’s ID-POS data with product information, Joint distribution among group companies, Restructuring the overseas business through withdrawal from the China business |
Items this document does not state (9)
Unit price and quantity metricsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookAcquisition of treasury sharesOrders 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 increased due to the inclusion of msh and Polite in the consolidated results, growth in in-store share, and strong performance by exclusive and priority-distribution products. On the profit front, the gross profit margin declined due to higher center fees and rebates and delays in passing on price increases for products subject to price revisions. Increases in personnel expenses, logistics costs and other selling, general and administrative expenses, as well as higher interest expense due to rising interest rates, also affected results.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.