Worth reading
57In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
486
¥ millions (improvement in operating loss)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Annual updateNet SalesNot disclosed → Approximately ¥6.1 billion (Lifestyle Business)
Operating profit marginNot disclosed → At least 11.1% (Group); 5–9% (Lifestyle Business)
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planNot disclosed → Fiscal year ended January 2026 actual results
Total investment plan¥7,235 million (maximum proceeds from the seventh allotment of stock acquisition rights, stated as growth investment funding)
Investment amount by sectorField Sustainability Businesses / Amount ¥3,088 million, Field Gold Star working capital / Amount ¥1,700 million, Field M&A and Capital and Business Alliances / Amount ¥1,450 million, Field 361° business working capital / Amount ¥950 million, Field Working capital for headquarters operations / Amount ¥47 million
Key initiatives
01Strengthen the earnings base of existing businesses, e-commerce/D2C, and brand development
02Maintain the equity ratio, control interest-bearing debt, and return to profitability
03Monetize new businesses, pursue M&A, and shift to a recurring-revenue model
04Closing Unprofitable Stores
05Reduce and optimize inventory
06Reduce logistics costs
07Business diversification.
08Accelerate the e-commerce business
09Transition to a holding company structure
Plan assumptionsGold Star expects demand for popular products to expand. Ice cream spending increased by 120.2% over the 10 years from 2016 to 2025. Applications for connection studies for grid-scale battery storage increased from 1,599 in fiscal 2023 to 9,544 in fiscal 2024. Japan's stationary battery storage market is expected to reach ¥3.4 trillion in 2035, approximately 3.4 times its 2020 level.
Segment targetSegment Lifestyle Business / Sales target Fiscal year ending January 2028: approximately ¥6.1 billion / Profit Target Operating margin of 5–9%, Segment Gold Star food import business / Sales target Fiscal year ending January 2028: ¥4,006 million / Profit Target Not disclosed
Non-financial targetsIndicator Cumulative number of Project ZERO AI cameras installed / Target value 3,463 units / Timing 2028, Indicator Cumulative number of Project ZERO AI cameras installed / Target value 10,000 units / Timing 2030, Indicator Group Personnel / Target value 100 people / Timing Fiscal year ending January 2027, Indicator Indirect-function productivity / Target value +30% / Timing Fiscal year ending January 2028, Indicator Number of grid-scale battery storage facilities / Target value 200 facilities nationwide / Timing Fiscal year ending January 2028, Indicator Number of facilities adopting biopower / Target value 1,000 facilities / Timing Fiscal year ending January 2028
Size of the Target MarketMarket Japan's stationary battery storage market / Scale ¥3.4 trillion / Timing 2035 target; approximately 3.4 times the 2020 level / Source Ministry of Economy, Trade and Industry, “Battery Industry Strategy” (August 2022), Market Global battery storage market / Scale Approximately ¥40 trillion (2030) and ¥100 trillion (2050), among others / Timing 2030 and 2050 / Source Ministry of Economy, Trade and Industry, reference materials for “Battery Industry Strategy” (27 December 2024), Market Basketball footwear market / Scale ¥32 billion (January–September 2025) / Timing January–September 2025 / Source npdjapan.com, “Sports Footwear and Apparel Market Survey Report”, Market Ice cream spending / Scale 120.2% growth from 2016 to 2025 (food expenditure) / Timing 2016–2025 / Source Japan Ice Cream Association, “2025 Household Survey Results”
Risks identified by the company
Declining profitability of existing businesses
Inventory Management
Procurement management and foreign exchange fluctuations
Financial Management
M&A, management of consolidated subsidiaries, and goodwill impairment
Dependence on sales to major consolidated subsidiaries
Development of new and partner businesses
Trends, weather and other factors
Population decline
Intellectual property, the spread of infectious diseases and other factors
The likelihood of each risk materializing is low to moderate, and the expected timing is medium to long term
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan |
| Plan period | Fiscal year ended January 2026 (actual) to fiscal year ending January 2028 (target) |
| Progress against the plan | Annual update |
| Sales Target | Not disclosed → Approximately ¥6.1 billion (Lifestyle Business) |
| Operating profit margin target | Not disclosed → At least 11.1% (Group); 5–9% (Lifestyle Business) |
| Total investment plan | ¥7,235 million (maximum proceeds from the seventh allotment of stock acquisition rights, stated as growth investment funding) |
| Investment amount by sector | Field Sustainability Businesses / Amount ¥3,088 million, Field Gold Star working capital / Amount ¥1,700 million, Field M&A and Capital and Business Alliances / Amount ¥1,450 million, Field 361° business working capital / Amount ¥950 million, Field Working capital for headquarters operations / Amount ¥47 million |
| Segment target | Segment Lifestyle Business / Sales target Fiscal year ending January 2028: approximately ¥6.1 billion / Profit Target Operating margin of 5–9%, Segment Gold Star food import business / Sales target Fiscal year ending January 2028: ¥4,006 million / Profit Target Not disclosed |
| Non-financial targets | Indicator Cumulative number of Project ZERO AI cameras installed / Target value 3,463 units / Timing 2028, Indicator Cumulative number of Project ZERO AI cameras installed / Target value 10,000 units / Timing 2030, Indicator Group Personnel / Target value 100 people / Timing Fiscal year ending January 2027, Indicator Indirect-function productivity / Target value +30% / Timing Fiscal year ending January 2028, Indicator Number of grid-scale battery storage facilities / Target value 200 facilities nationwide / Timing Fiscal year ending January 2028, Indicator Number of facilities adopting biopower / Target value 1,000 facilities / Timing Fiscal year ending January 2028 |
| Plan assumptions | Gold Star expects demand for popular products to expand. Ice cream spending increased by 120.2% over the 10 years from 2016 to 2025. Applications for connection studies for grid-scale battery storage increased from 1,599 in fiscal 2023 to 9,544 in fiscal 2024. Japan's stationary battery storage market is expected to reach ¥3.4 trillion in 2035, approximately 3.4 times its 2020 level. |
| Key initiatives | Strengthen the earnings base of existing businesses, e-commerce/D2C, and brand development, Maintain the equity ratio, control interest-bearing debt, and return to profitability, Monetize new businesses, pursue M&A, and shift to a recurring-revenue model, Closing Unprofitable Stores, Reduce and optimize inventory, Reduce logistics costs, Business diversification., Accelerate the e-commerce business, Transition to a holding company structure |
| Results under the previous plan | Not disclosed → Fiscal year ended January 2026 actual results |
| Size of the Target Market | Market Japan's stationary battery storage market / Scale ¥3.4 trillion / Timing 2035 target; approximately 3.4 times the 2020 level / Source Ministry of Economy, Trade and Industry, “Battery Industry Strategy” (August 2022), Market Global battery storage market / Scale Approximately ¥40 trillion (2030) and ¥100 trillion (2050), among others / Timing 2030 and 2050 / Source Ministry of Economy, Trade and Industry, reference materials for “Battery Industry Strategy” (27 December 2024), Market Basketball footwear market / Scale ¥32 billion (January–September 2025) / Timing January–September 2025 / Source npdjapan.com, “Sports Footwear and Apparel Market Survey Report”, Market Ice cream spending / Scale 120.2% growth from 2016 to 2025 (food expenditure) / Timing 2016–2025 / Source Japan Ice Cream Association, “2025 Household Survey Results” |
| Risks identified | Declining profitability of existing businesses, Inventory Management, Procurement management and foreign exchange fluctuations, Financial Management, M&A, management of consolidated subsidiaries, and goodwill impairment, Dependence on sales to major consolidated subsidiaries, Development of new and partner businesses, Trends, weather and other factors, Population decline, Intellectual property, the spread of infectious diseases and other factors, The likelihood of each risk materializing is low to moderate, and the expected timing is medium to long term |
Items this document does not state (11)
Operating profit targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceReason for revision or withdrawalDate of board resolutionPublication date
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.The company consolidated unprofitable stores, in-sourced logistics functions, developed a multichannel model spanning e-commerce, wholesale and physical stores, newly consolidated Gold Star, 361 Sports Japan and MAKE BEAUTURE, and diversified its businesses.
How to read this page
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