Worth reading
86Important
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
265
¥ millionWording
Avoiding a definitive answer
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ending March 20267 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥2,280 million-11.1%
Operating profit¥184 million-68.7%
Ordinary income¥190 million
Net income¥98 million-77.4%
Gross Profit Margin70.1%
Operating profit margin8.1%
Selling, general and administrative expenses¥1,413 million
Full-year earnings forecast
Net Sales
¥2,546 million
Operating profit
¥295 million
Ordinary income
¥255 million
Net income
¥152 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 Sales104.0%
Gross profit100.7%
Operating profit110.7%
Net income118.3%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Achieved both revenue and profit targetsBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Impact of subscription gross profit¥-10 million
- Increase in gross profit from sales of low-utilization bags¥20 million
- Personnel expenses¥0 million
- Advertising expenses¥1 million
- Slight increase in packaging and shipping costs due to higher bag sales¥-3 million
- Sales Commissions¥0 million
- Decrease in payment fees and other expenses¥8 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Advertising expenses for the fiscal year ending March 2027▲17% year on year
- New customer additions for the fiscal year ending March 2027+10% year on year
- Average monthly churn rate for the fiscal year ending March 2027Improvement of 0.5 points year on year
- E-commerce site integrationScheduled to begin in May-June
New initiatives
- Shift from dependence on advertising spending to a focus on CPA
- Development and full-scale rollout of the smart-keep service Rakumochi
- Simultaneous listing model using an inventory-sharing system
- Stronger integration with other companies' EC platforms
- Scheduled launch of premium bag rentals
- ShaaS collaboration with companies with large customer bases
Key KPIsA metric the company considers important as a management benchmark.
- Number of contracts19,254 EngagementsYear on year against the same period last yearRecovered to approximately the previous year's level
- Average spend per customer¥8,854Year on year against the same period last year-5.0%
- Conversion rateQ4 year-on-year +2.6
- New customer additions113 % year on year
- Retention rate (churn rate)-0.8 Points
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Average spend per customer
¥8,854
Year on year against the same period last year-5.0%
Number of contracts
19,254 Engagements
Versus the end of the third quarter1,188
Financial targets
Equity ratio
Actual results70.7%
ROA
Actual results4.2%
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Net Sales | ¥2,280 million (YoY -11.1%) |
| Operating profit | ¥184 million (YoY -68.7%) |
| Ordinary income | ¥190 million |
| Net income | ¥98 million (YoY -77.4%) |
| Gross Profit Margin | 70.1% |
| Operating profit margin | 8.1% |
| Selling, general and administrative expenses | ¥1,413 million |
| Full-year earnings forecast | Net Sales ¥2,546 million / Operating profit ¥295 million / Ordinary income ¥255 million / Net income ¥152 million |
| Progress against full-year forecast | Net Sales 104.0% / Gross profit 100.7% / Operating profit 110.7% / Net income 118.3% |
| Self-assessment against the plan | Achieved both revenue and profit targets |
| Breakdown of Factors Affecting the Change | Factors Impact of subscription gross profit / Amount ¥-10 million, Factors Increase in gross profit from sales of low-utilization bags / Amount ¥20 million, Factors Personnel expenses / Amount ¥0 million, Factors Advertising expenses / Amount ¥1 million, Factors Slight increase in packaging and shipping costs due to higher bag sales / Amount ¥-3 million, Factors Sales Commissions / Amount ¥0 million, Factors Decrease in payment fees and other expenses / Amount ¥8 million |
| Key KPIs | Indicator name Number of contracts / Value 19,254 Engagements / Year on year against the same period last year Recovered to approximately the previous year's level, Indicator name Average spend per customer / Value ¥8,854 / Year on year against the same period last year ¥-5, Indicator name Conversion rate / Value Q4 year-on-year +2.6 / Year on year against the same period last year Not disclosed, Indicator name New customer additions / Value 113 % year on year / Year on year against the same period last year Not disclosed, Indicator name Retention rate (churn rate) / Value -0.8 Points / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Average spend per customer ¥8,854 / Number of contracts 19,254 Engagements |
| Assumptions Underlying the Business Outlook | Item Advertising expenses for the fiscal year ending March 2027 / Value ▲17% year on year, Item New customer additions for the fiscal year ending March 2027 / Value +10% year on year, Item Average monthly churn rate for the fiscal year ending March 2027 / Value Improvement of 0.5 points year on year, Item E-commerce site integration / Value Scheduled to begin in May-June |
| Financial targets | Equity ratio Actual results 70.7% / ROA Actual results 4.2% |
| New initiatives | Shift from dependence on advertising spending to a focus on CPA, Development and full-scale rollout of the smart-keep service Rakumochi, Simultaneous listing model using an inventory-sharing system, Stronger integration with other companies' EC platforms, Scheduled launch of premium bag rentals, ShaaS collaboration with companies with large customer bases |
Items this document does not state (13)
Results for the three months of the current quarterSegment resultsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan 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.Year on year for the fiscal year ended March 2026, the company explained that the main reason for the decline in revenue and profit was a decrease in subscription revenue, as substantial advertising spending in the first half failed to generate new customers or increase the number of contracts. Versus forecast, growth in bag sales and lower selling, general and administrative expenses were cited as the reasons revenue and operating profit exceeded plan. For the fiscal year ending March 2027, the company expects growth to be driven by shifting from dependence on advertising spending to a focus on CPA, developing the new service Rakumochi, and diversifying sales channels through inventory-system integration.
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.