Worth reading
61In focus
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
-117
¥ million (year-on-year change in operating income)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationSecond quarter of the fiscal year ending March 202712 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥55,056 million+1.8%
Operating profit¥2,640 million-4.2%
Ordinary income¥2,376 million-7.6%
Net income¥1,463 million-9.9%
Operating profit margin4.8
Selling, general and administrative expenses¥14,954 million
Full-year earnings forecast
Operating revenue
¥110,000 million
Operating profit
¥3,700 million
Ordinary income
¥3,000 million
Profit attributable to owners of the parent
¥1,600 million
EBITDA
¥7,200 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。
Operating revenue50.1 %
Operating profit71.4 %
Ordinary income79.2 %
Profit attributable to owners of the parent91.4 %
EBITDA60.1 %
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Generally in line with planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Retail¥-317 million
Transportation business¥196 million
Tourism Business¥99 million
Real estate business¥-6 million
Other¥2 million
Adjustments¥-91 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The forecast assumes higher energy prices, persistently high procurement costs, increased personnel expenses due to wage increases and other factors, and higher expenses including electricity charges. Numerical assumptions: Not disclosed.New initiatives
- Relocation and reopening of デリシアまめじま店
- Consolidation of real estate management, development and other functions by アルピコアセットデザイン
- アルピコアセットデザイン and ハーベスト scheduled to merge in January 2027
- Expansion of デリシアミールズ stores focused on prepared foods
- Strengthening of sightseeing route bus operations
- Increasing unit prices through renovations of existing tourist facilities
- Development of the Hakuba Village Hokujō project
Key KPIsA metric the company considers important as a management benchmark.
- Passengers boarding and alighting on route buses in the Kamikochi, Norikura and Shirahone areas108.4 % vs. fiscal year ended March 2026
- Number of Tokushimaru vehicles in operation41 units
- Number of operating online supermarket locations19 Location
- Number of card and app members43 10,000 people
- Consolidated headcount2,014 people
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Average price per item103 % year on year
- Hotel room occupancy rateYear-on-year change stated by facility
- Hotel average daily rate (ADR)Year-on-year change stated by facility
- Passengers boarding and alighting on route buses in the Kamikochi, Norikura and Shirahone areas108.4 % vs. fiscal year ended March 2026
Segment results
Retail
Operating revenue
¥39,373 million+0.5%
Operating profit
¥684 million-31.7%
Transportation business
Operating revenue
¥7,705 million+7.3%
Operating profit
¥1,466 million+15.4%
Tourism Business
Operating revenue
¥7,088 million+3.7%
Operating profit
¥787 million+14.5%
Real estate business
Operating revenue
¥708 million-5.1%
Operating profit
¥88 million-6.4%
Medium-term management plan targets
The disclosure covers the long-term vision toward 2035, the medium-term management plan for 2026–2028, and the basic policies for growth, structural reform and sustainability. Comparison of actual results with specific target figures: Not disclosed.Market Size / Share
- Share of route buses in the Kamikochi and Norikura areas on the Nagano Prefecture sideMore than 90%
- Number of visitors using major tourist destinations in Nagano PrefectureStated by tourist destination
Number of stores and locations
61 food supermarkets, 41 Tokushimaru mobile grocery vehicles and 19 online supermarket locations (as of the end of September 2026). During the period, 1 store opened at a new location following the relocation of デリシアまめじま店.Number of employees
Number of Employees2,014 people
Annual Dividend
Forecast for the fiscal year ending March 2027
Annual Dividend5
Interim Dividend0
Year-end dividend5
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending March 2027 |
| Net Sales | ¥55,056 million (YoY +1.8%) |
| Operating profit | ¥2,640 million (YoY -4.2%) |
| Ordinary income | ¥2,376 million (YoY -7.6%) |
| Net income | ¥1,463 million (YoY -9.9%) |
| Operating profit margin | 4.8 |
| Selling, general and administrative expenses | ¥14,954 million |
| Full-year earnings forecast | Operating revenue ¥110,000 million / Operating profit ¥3,700 million / Ordinary income ¥3,000 million / Profit attributable to owners of the parent ¥1,600 million / EBITDA ¥7,200 million |
| Progress against full-year forecast | Operating revenue 50.1 % / Operating profit 71.4 % / Ordinary income 79.2 % / Profit attributable to owners of the parent 91.4 % / EBITDA 60.1 % |
| Self-assessment against the plan | Generally in line with plan |
| Segment results | Retail Operating revenue ¥39,373 million (YoY +0.5%) / Operating profit ¥684 million (YoY -31.7%) / Transportation business Operating revenue ¥7,705 million (YoY +7.3%) / Operating profit ¥1,466 million (YoY +15.4%) / Tourism Business Operating revenue ¥7,088 million (YoY +3.7%) / Operating profit ¥787 million (YoY +14.5%) / Real estate business Operating revenue ¥708 million (YoY -5.1%) / Operating profit ¥88 million (YoY -6.4%) |
| Breakdown of Factors Affecting the Change | Retail ¥-317 million / Transportation business ¥196 million / Tourism Business ¥99 million / Real estate business ¥-6 million / Other ¥2 million / Adjustments ¥-91 million |
| Key KPIs | Indicator name Passengers boarding and alighting on route buses in the Kamikochi, Norikura and Shirahone areas / Value 108.4 % vs. fiscal year ended March 2026 / Year on year against the same period last year Not disclosed, Indicator name Number of Tokushimaru vehicles in operation / Value 41 units / Year on year against the same period last year Not disclosed, Indicator name Number of operating online supermarket locations / Value 19 Location / Year on year against the same period last year Not disclosed, Indicator name Number of card and app members / Value 43 10,000 people / Year on year against the same period last year Not disclosed, Indicator name Consolidated headcount / Value 2,014 people / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Indicator name Average price per item / Value 103 % year on year, Indicator name Hotel room occupancy rate / Value Year-on-year change stated by facility, Indicator name Hotel average daily rate (ADR) / Value Year-on-year change stated by facility, Indicator name Passengers boarding and alighting on route buses in the Kamikochi, Norikura and Shirahone areas / Value 108.4 % vs. fiscal year ended March 2026 |
| Number of stores and locations | 61 food supermarkets, 41 Tokushimaru mobile grocery vehicles and 19 online supermarket locations (as of the end of September 2026). During the period, 1 store opened at a new location following the relocation of デリシアまめじま店. |
| Number of employees | Number of Employees 2,014 people / Change during the period Not disclosed / Hiring plan Not disclosed |
| Assumptions Underlying the Business Outlook | The forecast assumes higher energy prices, persistently high procurement costs, increased personnel expenses due to wage increases and other factors, and higher expenses including electricity charges. Numerical assumptions: Not disclosed. |
| Medium-term management plan targets | The disclosure covers the long-term vision toward 2035, the medium-term management plan for 2026–2028, and the basic policies for growth, structural reform and sustainability. Comparison of actual results with specific target figures: Not disclosed. |
| Annual Dividend | Forecast for the fiscal year ending March 2027 Annual Dividend 5 / Interim Dividend 0 / Year-end dividend 5 |
| Market Size / Share | Item Share of route buses in the Kamikochi and Norikura areas on the Nagano Prefecture side / Value More than 90%, Item Number of visitors using major tourist destinations in Nagano Prefecture / Value Stated by tourist destination |
| New initiatives | Relocation and reopening of デリシアまめじま店, Consolidation of real estate management, development and other functions by アルピコアセットデザイン, アルピコアセットデザイン and ハーベスト scheduled to merge in January 2027, Expansion of デリシアミールズ stores focused on prepared foods, Strengthening of sightseeing route bus operations, Increasing unit prices through renovations of existing tourist facilities, Development of the Hakuba Village Hokujō project |
Items this document does not state (9)
Gross Profit MarginResults for the three months of the current quarterRisk amount incorporated into the outlookFinancial targetsPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogKey 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 higher demand for the distribution, transportation and tourism businesses, revisions to fares and product prices, and the opening of new stores and offices. Profit declined, however, due to persistently high procurement costs, soaring energy prices, increases in selling, general and administrative expenses including personnel expenses, and the impact of unsettled weather in August and September.
How to read this page
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