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How definitive the wording is.Contents of this document
Financial results presentationFirst quarter of the fiscal year ending March 20278 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥5,081,774 thousand+6.3%
Operating profit¥73,788 thousand-47.0%
Ordinary income¥81,411 thousand-23.3%
Net income¥37,398 thousand+32.8%
Selling, general and administrative expenses¥1,689,236 thousand
Gross Profit Margin
Rate34.7%
Year on year against the same period last yearDown 1.5 percentage points year on year
Operating profit margin
Rate1.5%
Year on year against the same period last yearDown 1.4 percentage points year on year
Results for the three months of the current quarter
Net Sales¥5,081,774 thousand
Gross profit¥1,763,024 thousand
Operating profit¥73,788 thousand
Ordinary income¥81,411 thousand
Profit attributable to owners of parent for the quarter¥37,398 thousand
Full-year earnings forecast
Net Sales
¥21,082 million
Operating profit
¥812 million
Ordinary income
¥758 million
Profit attributable to owners of the parent
¥403 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。
Consolidated
Net Sales24.1%
Operating profit9.0%
Ordinary income10.7%
Profit attributable to owners of the parent9.2%
By sales channel
Company-operated22.6%
FC24.6%
EC24.8%
Wholesale23.0%
Global27.4%
Total24.1%
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Increase in sales+¥108 million
Decline in gross margin-¥78 million
Personnel Expenses+¥30 million
Selling and Marketing Expenses-¥20 million
Packing and freight expenses+¥30 million
Rent expense-¥1 million
Depreciation and amortization+¥19 million
Other-¥38 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Average exchange rate during the period for translating the US subsidiary's profit and loss¥156.96 (previous year: ¥152.55)
New initiatives
- Reform of the sales floor and enhanced CRM
- Expansion of AI adoption, mechanization and in-house production at the Nagano Production Base
- Selection and initial screening of M&A candidates
- Expansion of sales channels in the United States and improvement of factory utilization
- Launch of new products
Key KPIsA metric the company considers important as a management benchmark.
- Same-store customer traffic99% year on yearYear on year against the same period last year-1.0%
- Store membership489 thousand customers
- Loyal customer ratioAround 18%Year on year against the same period last yearHigher
- KUZE FUKU & SONS target number of stores carrying the products5,000 Location
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Existing storesNet sales at 95.7% of the previous year, customer traffic at 96.5%, and average spend per customer at 99.1%
Segment results
Company-operated
Net Sales¥1,461,846 thousand
Year on year against the same period last year4.3%
FC
Net Sales¥1,791,978 thousand
Year on year against the same period last year4.1%
EC
Net Sales¥298,149 thousand
Year on year against the same period last year-0.3%
Wholesale
Net Sales¥800,007 thousand
Year on year against the same period last year5.5%
Global
Net Sales¥729,793 thousand
Year on year against the same period last year21.3%
Medium-term management plan targets
Average annual sales per existing store¥105 million in the fiscal year ended March 2026 → ¥127 million in the fiscal year ending March 2029 (1.2 times the fiscal year ended March 2026)
Number of loyal customers80,000 in the fiscal year ended March 2026 → 200,000 in the fiscal year ending March 2029 (2.5 times the fiscal year ended March 2026)
Number of stores carrying KUZE FUKU & SONS products5,000 stores in fiscal 2027
Number of stores and locations
End of period176 stores
During the period
Store Openings0
Store closures1
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥5,081,774 thousand (YoY +6.3%) |
| Operating profit | ¥73,788 thousand (YoY -47.0%) |
| Ordinary income | ¥81,411 thousand (YoY -23.3%) |
| Net income | ¥37,398 thousand (YoY +32.8%) |
| Gross Profit Margin | Rate 34.7% / Year on year against the same period last year Down 1.5 percentage points year on year |
| Operating profit margin | Rate 1.5% / Year on year against the same period last year Down 1.4 percentage points year on year |
| Selling, general and administrative expenses | ¥1,689,236 thousand |
| Results for the three months of the current quarter | Net Sales ¥5,081,774 thousand / Gross profit ¥1,763,024 thousand / Operating profit ¥73,788 thousand / Ordinary income ¥81,411 thousand / Profit attributable to owners of parent for the quarter ¥37,398 thousand |
| Full-year earnings forecast | Net Sales ¥21,082 million / Operating profit ¥812 million / Ordinary income ¥758 million / Profit attributable to owners of the parent ¥403 million |
| Progress against full-year forecast | Consolidated Net Sales 24.1% / Operating profit 9.0% / Ordinary income 10.7% / Profit attributable to owners of the parent 9.2% / By sales channel Company-operated 22.6% / FC 24.6% / EC 24.8% / Wholesale 23.0% / Global 27.4% / Total 24.1% |
| Segment results | Company-operated Net Sales ¥1,461,846 thousand / Year on year against the same period last year 4.3% / FC Net Sales ¥1,791,978 thousand / Year on year against the same period last year 4.1% / EC Net Sales ¥298,149 thousand / Year on year against the same period last year -0.3% / Wholesale Net Sales ¥800,007 thousand / Year on year against the same period last year 5.5% / Global Net Sales ¥729,793 thousand / Year on year against the same period last year 21.3% |
| Breakdown of Factors Affecting the Change | Increase in sales +¥108 million / Decline in gross margin -¥78 million / Personnel Expenses +¥30 million / Selling and Marketing Expenses -¥20 million / Packing and freight expenses +¥30 million / Rent expense -¥1 million / Depreciation and amortization +¥19 million / Other -¥38 million |
| Key KPIs | Indicator name Same-store customer traffic / Value 99% year on year / Year on year against the same period last year -1 %, Indicator name Store membership / Value 489 thousand customers / Year on year against the same period last year Not disclosed, Indicator name Loyal customer ratio / Value Around 18% / Year on year against the same period last year Higher, Indicator name KUZE FUKU & SONS target number of stores carrying the products / Value 5,000 Location / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Existing stores Net sales at 95.7% of the previous year, customer traffic at 96.5%, and average spend per customer at 99.1% |
| Number of stores and locations | End of period 176 stores / During the period Store Openings 0 / Store closures 1 |
| Assumptions Underlying the Business Outlook | Average exchange rate during the period for translating the US subsidiary's profit and loss ¥156.96 (previous year: ¥152.55) |
| Medium-term management plan targets | Average annual sales per existing store ¥105 million in the fiscal year ended March 2026 → ¥127 million in the fiscal year ending March 2029 (1.2 times the fiscal year ended March 2026) / Number of loyal customers 80,000 in the fiscal year ended March 2026 → 200,000 in the fiscal year ending March 2029 (2.5 times the fiscal year ended March 2026) / Number of stores carrying KUZE FUKU & SONS products 5,000 stores in fiscal 2027 |
| New initiatives | Reform of the sales floor and enhanced CRM, Expansion of AI adoption, mechanization and in-house production at the Nagano Production Base, Selection and initial screening of M&A candidates, Expansion of sales channels in the United States and improvement of factory utilization, Launch of new products |
Items this document does not state (11)
Self-assessment against the planNumber of employeesRisk 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.Net sales increased due to growth in wholesale and global operations, new store openings and other factors. Operating profit declined due to surging material and raw material prices, a lower gross profit margin resulting from efforts to promote lower-margin products, and increases in SG&A expenses, including personnel expenses and packing and delivery costs. Quarterly net income increased because extraordinary losses declined from the previous year.
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