Worth reading
62In 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
2852
¥ millionWording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales1,117,440¥ millionYear on year +5.3%Progress 96.7%
Operating profit84,935¥ millionYear on year +3.5%Progress 97.1%
Ordinary income89,855¥ millionYear on year +4.2%Progress 98.2%
Net income attributable to owners of the parent55,776¥ millionYear on year +2.0%Progress 94.5%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥139.94
Operating Margin7.6%
Financial position at period-end
Total assets755,831¥ million
of which net assets 544,451 ¥ millionEquity ratio 71.9%vs. prior year-end -1.2pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+73,201
Investment-34,223
Financials-34,141
Net change+4,837
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥119,670 million
Segment revenue
Matsumoto Kiyoshi Group business711,41339.6%+6.6%
Cocokara Fine Group business389,97721.7%-0.3%
And Company business12,9480.7%
Management Support business683,58538.0%+4.3%
Segment profit
Matsumoto Kiyoshi Group business60,81859.9%+4.9%
Cocokara Fine Group business23,45623.1%-1.5%
And Company business2000.2%
Management Support business17,13716.9%-15.1%
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥1,155,000 million (YoY +3.4%)
Operating profit¥87,500 million (YoY +3.0%)
Ordinary income¥91,500 million (YoY +1.8%)
Net income¥59,000 million (YoY +5.8%)
Annual Dividend Forecast¥50 → ¥56（+12.0%）
Payout ratio35.7% (actual for the fiscal year ended March 2026), 37.8% (forecast for the fiscal year ending March 2027)
Shareholder Return PolicyThe company’s basic policy is progressive dividends, with targets of a consolidated dividend payout ratio of 50% and consolidated DOE of 6%.
Factors Behind Changes in Business Performance
The company captured increased foot traffic in urban areas, entertainment districts and commercial facilities, as well as demand trends among inbound tourists, resulting in strong sales centered on cosmetics. It also promoted store openings in priority areas, the addition of in-store pharmacies, expansion of its overseas business and growth in business scale through M&A.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew Number of companies 3 / Company name MATSUMOTO KIYOSHI (HK) CO., LIMITED, 株式会社アンドカンパニー, 株式会社新生堂薬局 / Excluded Number of companies 0 / Company name Not disclosed
Material subsequent eventsEffective 1 April 2026, 株式会社アンドカンパニー acquired all shares of ユニバーサルドラッグ株式会社 for ¥1,000 million, making it a subsidiary. The acquisition-related costs, goodwill and amounts of the acquired assets and liabilities have not yet been finalized.
Impairment lossAmount ¥1,682 million / Subject assets Property, plant and equipment (Matsumoto Kiyoshi Group business: ¥723 million, Cocokara Fine Group business: ¥865 million, And Company business: ¥103 million, corporate and eliminations: △¥10 million)
Breakdown of extraordinary income (loss)Extraordinary income Item Gain on sale of non-current assets / Amount ¥21 million, Item Gain on sale of investment securities / Amount ¥592 million / Extraordinary loss Item Loss on sale of fixed assets / Amount ¥71 million, Item Loss on Disposal of Fixed Assets / Amount ¥414 million, Item Loss on closure of stores / Amount ¥228 million, Item Impairment Losses / Amount ¥1,682 million, Item Compensation for damages / Amount ¥65 million
Depreciation and amortization¥16,985 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingHeld (対象者：Not disclosed)
Issued Shares at Period-End410,275,830
Treasury Shares at Period-End12,350,320
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥1,117,440 million (YoY +5.3%) |
| Operating profit | ¥84,935 million (YoY +3.5%) |
| Ordinary income | ¥89,855 million (YoY +4.2%) |
| Profit attributable to owners of the parent | ¥55,776 million (YoY +2.0%) |
| Net income per share | ¥139.94 |
| Operating Margin | 7.6% |
| Equity ratio | End of the current fiscal period 71.9% / End of previous period 73.1% |
| Total assets | ¥755,831 million |
| Net assets | ¥544,451 million |
| Cash flows from operating activities | ¥73,201 million |
| Cash flows from investing activities | ¥-34,223 million |
| Cash flows from financing activities | ¥-34,141 million |
| Cash and cash equivalents at end of period | ¥119,670 million |
| Full-year earnings forecast | Net Sales ¥1,155,000 million (YoY +3.4%) / Operating profit ¥87,500 million (YoY +3.0%) / Ordinary income ¥91,500 million (YoY +1.8%) / Net income ¥59,000 million (YoY +5.8%) |
| Annual Dividend Forecast | ¥50 → ¥56（+12.0%） |
| Payout ratio | 35.7% (actual for the fiscal year ended March 2026), 37.8% (forecast for the fiscal year ending March 2027) |
| Shareholder Return Policy | The company’s basic policy is progressive dividends, with targets of a consolidated dividend payout ratio of 50% and consolidated DOE of 6%. |
| Segment revenue | Segment Matsumoto Kiyoshi Group business / Net Sales ¥711,413 million / Year on year against the same period last year 6.6, Segment Cocokara Fine Group business / Net Sales ¥389,977 million / Year on year against the same period last year -0.3, Segment And Company business / Net Sales ¥12,948 million / Year on year against the same period last year Not disclosed, Segment Management Support business / Net Sales ¥683,585 million / Year on year against the same period last year 4.3 |
| Segment profit | Segment Matsumoto Kiyoshi Group business / Segment profit ¥60,818 million / Year on year against the same period last year 4.9, Segment Cocokara Fine Group business / Segment profit ¥23,456 million / Year on year against the same period last year -1.5, Segment And Company business / Segment profit ¥200 million / Year on year against the same period last year Not disclosed, Segment Management Support business / Segment profit ¥17,137 million / Year on year against the same period last year -15.1 |
| Depreciation and amortization | ¥16,985 million |
| Impairment loss | Amount ¥1,682 million / Subject assets Property, plant and equipment (Matsumoto Kiyoshi Group business: ¥723 million, Cocokara Fine Group business: ¥865 million, And Company business: ¥103 million, corporate and eliminations: △¥10 million) |
| Breakdown of extraordinary income (loss) | Extraordinary income Item Gain on sale of non-current assets / Amount ¥21 million, Item Gain on sale of investment securities / Amount ¥592 million / Extraordinary loss Item Loss on sale of fixed assets / Amount ¥71 million, Item Loss on Disposal of Fixed Assets / Amount ¥414 million, Item Loss on closure of stores / Amount ¥228 million, Item Impairment Losses / Amount ¥1,682 million, Item Compensation for damages / Amount ¥65 million |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New Number of companies 3 / Company name MATSUMOTO KIYOSHI (HK) CO., LIMITED, 株式会社アンドカンパニー, 株式会社新生堂薬局 / Excluded Number of companies 0 / Company name Not disclosed |
| Material subsequent events | Effective 1 April 2026, 株式会社アンドカンパニー acquired all shares of ユニバーサルドラッグ株式会社 for ¥1,000 million, making it a subsidiary. The acquisition-related costs, goodwill and amounts of the acquired assets and liabilities have not yet been finalized. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Held (対象者：Not disclosed) |
| Issued Shares at Period-End | 410,275,830 |
| Treasury Shares at Period-End | 12,350,320 |
| Factors Behind Changes in Business Performance | The company captured increased foot traffic in urban areas, entertainment districts and commercial facilities, as well as demand trends among inbound tourists, resulting in strong sales centered on cosmetics. It also promoted store openings in priority areas, the addition of in-store pharmacies, expansion of its overseas business and growth in business scale through M&A. |
Items this document does not state (3)
Revision to Earnings ForecastRegional salesOrders received and order backlog
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 captured increased foot traffic in urban areas, entertainment districts and commercial facilities, as well as demand from inbound tourists, resulting in strong sales centered on cosmetics. It also proceeded with store openings in priority areas, the addition of in-store pharmacies, expansion of its overseas business and the conversion of 株式会社新生堂薬局 into a subsidiary.
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