Komori
Earnings presentation materials288ALaxus Technologies Inc.Information and Communications, Services and Others

Second-Quarter Financial Results Briefing Materials for the Fiscal Year Ending March 2027

In the first half, revenue and the number of contracts fell below the prior-year period, but operating profit nearly doubled year on year as SG&A expenses, including advertising and promotion costs, were substantially reduced. From the end of the second quarter, the company shifted its policy from offering uniform, substantial sign-up benefits to prioritising the acquisition of members likely to remain long-term users and inventory turnover.

Worth reading
58In focus
Scored from 5 of 6 sections
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
53
¥ million (year-on-year increase in operating profit)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentation materialsSecond quarter of the fiscal year ending March 20277 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,023 million-6.4%
Operating profit¥104 million+104.5%
Net income¥64 million+38.0%
Gross Profit Margin70.5 %
Operating profit margin10.2 %
Selling, general and administrative expenses¥616 million
Full-year earnings forecast
Net Sales
¥2,546 million
Operating profit
¥295 million
Ordinary income
¥255 million
Net income for the current fiscal year
¥152 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
The number of contracts was below plan
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Impact of subscription gross profit¥-49 million
  • Lower gross profit due to reduced bag sales as a result of prioritising profitability¥-28 million
  • Decline in Advertising Expenses¥95 million
  • Lower packing and freight costs¥1 million
  • Decrease in personnel expenses¥5 million
  • Decrease in sales commissions¥9 million
  • Decrease in other expenses¥19 million
New initiatives
  • Discontinue uniform, substantial sign-up benefits and reallocate the funds to advertising
  • Pilot operation of a system that sets sign-up benefits and prices by bag and brand
  • Launch of “Royal Closet,” a high-priced bag rental service for an additional fee
  • Launch of “ANA Luxury Bag” with the ANA Group
  • AI-based procurement and sales decisions based on how quickly items can be rented
  • Scheduled launch of a beta version of a sharing service for luxury down jackets
Key KPIsA metric the company considers important as a management benchmark.
  • Number of contracts16,613 cases
    Year on year against the same period last year-276.0%
  • Average spend per customer (second-quarter average)¥8,793
  • CPA33 % improvement
    Year on year against the same period last yearImproved
  • Conversion rate2.9 Percentage-point improvement
    Year on year against the same period last yearImproved
  • Churn rate0.4 Points deterioration first-half average
    Year on year against the same period last yearDeteriorated
  • LTV7 Share of members without benefits, around %
  • Second-quarter sales from external e-commerce channels6.5 Times the first-quarter level
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Average spend per customer
8,793 Yen second-quarter average
Number of contracts
16,613 cases
yoy_change-276
Financial targets
Equity ratio
73.7 %
End of periodEnd of September 2026
Risks factored into the outlook
Uncertainty factors, including surging crude oil prices and global economic trends, are cited, but the amount is Not disclosed
Contents of this document
ItemDetails
Document typeEarnings presentation materials
Fiscal Period CoveredSecond quarter of the fiscal year ending March 2027
Net Sales¥1,023 million (YoY -6.4%)
Operating profit¥104 million (YoY +104.5%)
Net income¥64 million (YoY +38.0%)
Gross Profit Margin70.5 %
Operating profit margin10.2 %
Selling, general and administrative expenses¥616 million
Full-year earnings forecastNet Sales ¥2,546 million / Operating profit ¥295 million / Ordinary income ¥255 million / Net income for the current fiscal year ¥152 million
Self-assessment against the planThe number of contracts was below plan
Breakdown of Factors Affecting the ChangeFactors Impact of subscription gross profit / Amount ¥-49 million, Factors Lower gross profit due to reduced bag sales as a result of prioritising profitability / Amount ¥-28 million, Factors Decline in Advertising Expenses / Amount ¥95 million, Factors Lower packing and freight costs / Amount ¥1 million, Factors Decrease in personnel expenses / Amount ¥5 million, Factors Decrease in sales commissions / Amount ¥9 million, Factors Decrease in other expenses / Amount ¥19 million
Key KPIsIndicator name Number of contracts / Value 16,613 cases / Year on year against the same period last year -276 cases, Indicator name Average spend per customer (second-quarter average) / Value ¥8,793 / Year on year against the same period last year Not disclosed, Indicator name CPA / Value 33 % improvement / Year on year against the same period last year Improved, Indicator name Conversion rate / Value 2.9 Percentage-point improvement / Year on year against the same period last year Improved, Indicator name Churn rate / Value 0.4 Points deterioration (first-half average) / Year on year against the same period last year Deteriorated, Indicator name LTV / Value 7 Share of members without benefits, around % / Year on year against the same period last year Not disclosed, Indicator name Second-quarter sales from external e-commerce channels / Value 6.5 Times the first-quarter level / Year on year against the same period last year Not disclosed
Unit price and quantity metricsAverage spend per customer 8,793 Yen (second-quarter average) / Number of contracts 16,613 cases
Risks factored into the outlookUncertainty factors, including surging crude oil prices and global economic trends, are cited, but the amount is Not disclosed
Financial targetsEquity ratio 73.7 %
New initiativesDiscontinue uniform, substantial sign-up benefits and reallocate the funds to advertising, Pilot operation of a system that sets sign-up benefits and prices by bag and brand, Launch of “Royal Closet,” a high-priced bag rental service for an additional fee, Launch of “ANA Luxury Bag” with the ANA Group, AI-based procurement and sales decisions based on how quickly items can be rented, Scheduled launch of a beta version of a sharing service for luxury down jackets
Items this document does not state (15)
Ordinary incomeResults for the three months of the current quarterProgress against full-year forecastSegment resultsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business 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.

SG&A expenses declined by more than the decrease in net gross profit resulting from lower sales. Advertising and promotion costs fell by ¥95 million, in particular, as the company shifted its focus to efficiency, while sales commissions declined by ¥9 million following a review of sales channels and other measures. The company attributed the lack of growth in the number of contracts to the high number of early cancellations by members who had joined to receive substantial benefits, meaning those members did not remain.

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