Worth reading
51Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Neutral
Direction inferred from the company’s description.Scale
1
Years (extension of the plan period)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales+0.1%
基準 2,026Target2,029Hundreds of millions of yen
Operating profit+0.1%
基準 2,026Target2,029Hundreds of millions of yen
Operating profit margin+3.0pt
基準 2,026Target2,029％
Net income for the current fiscal year+0.1%
基準 2,026Target2,029Hundreds of millions of yen
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
Total investment planApproximately ¥9.5 billion to ¥11.0 billion accumulated over 3 years (investment in new store openings). Total cash outflows for capital allocation are approximately ¥17.0 billion to ¥19.0 billion accumulated over 3 years.
Investment amount by sectorField New store opening investments / Amount Approximately ¥9.5 billion to ¥11.0 billion accumulated over 3 years / Details Investment in store fixtures and equipment, security deposits, inventory and other items for new stores, Field Financial soundness / Amount Approximately ¥5.0 billion accumulated over 3 years / Details Repayment of interest-bearing debt and strengthening of the financial base, among other measures
Statements about the use of capital
Payout ratio / DOE policyThe target payout ratio is 30% or higher. The plan covers the fiscal years ending February 2027 to February 2029.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Treasury share acquisition policyShare repurchases are scheduled to be conducted as appropriate depending on the share price and cash position.
Key initiatives
01Growth of the reuse business
02Investment in new businesses
03Growth in overseas markets
04Growth through M&A
05Growth through DX investment
Non-financial targetsIndicator name Annual store openings / Target value 30–35 stores in the fiscal year ending February 2027, 35–40 stores in the fiscal year ending February 2028, and 35–40 stores in the fiscal year ending February 2029 / Timing Fiscal years ending February 2027 to February 2029
Risks identified by the company
Due to the high level of uncertainty, the plan does not include earnings growth from M&A or expenses such as M&A advisory fees.
If suitable properties for new store openings cannot be secured as expected, the plan may be affected.
Unexpected events, such as the spread of COVID-19, may have a material impact on the plan.
The medium-term management plan may be revised as appropriate.
Earnings per share may fluctuate depending on the future exercise of stock acquisition rights and the implementation of share repurchases.
The dividend outlook may change depending on business performance and other factors.
Reason for revision or withdrawal
The plan is updated every April on a rolling basis. Further revisions will be considered as appropriate in line with business performance.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan (Fiscal Years Ending February 2027 to February 2029) |
| Plan period | Fiscal years ending February 2027 to February 2029 |
| Progress against the plan | Partially revised |
| Sales Target | ¥48.5 billion (figure stated for the fiscal year ending February 2026) → ¥71.0 billion (fiscal year ending February 2029) |
| Operating profit target | ¥4.77 billion (figure stated for the fiscal year ending February 2026) → ¥6.38 billion (fiscal year ending February 2029) |
| Operating profit margin target | 9.8% (figure stated for the fiscal year ending February 2026) → 9.0% (fiscal year ending February 2029) |
| Net income target | ¥3.17 billion (figure stated for the fiscal year ending February 2026) → ¥4.29 billion (fiscal year ending February 2029) |
| Payout ratio / DOE policy | The target payout ratio is 30% or higher. The plan covers the fiscal years ending February 2027 to February 2029. |
| Treasury share acquisition policy | Share repurchases are scheduled to be conducted as appropriate depending on the share price and cash position. |
| Total investment plan | Approximately ¥9.5 billion to ¥11.0 billion accumulated over 3 years (investment in new store openings). Total cash outflows for capital allocation are approximately ¥17.0 billion to ¥19.0 billion accumulated over 3 years. |
| Investment amount by sector | Field New store opening investments / Amount Approximately ¥9.5 billion to ¥11.0 billion accumulated over 3 years / Details Investment in store fixtures and equipment, security deposits, inventory and other items for new stores, Field Financial soundness / Amount Approximately ¥5.0 billion accumulated over 3 years / Details Repayment of interest-bearing debt and strengthening of the financial base, among other measures |
| Non-financial targets | Indicator name Annual store openings / Target value 30–35 stores in the fiscal year ending February 2027, 35–40 stores in the fiscal year ending February 2028, and 35–40 stores in the fiscal year ending February 2029 / Timing Fiscal years ending February 2027 to February 2029 |
| Key initiatives | Growth of the reuse business, Investment in new businesses, Growth in overseas markets, Growth through M&A, Growth through DX investment |
| Reason for revision or withdrawal | The plan is updated every April on a rolling basis. Further revisions will be considered as appropriate in line with business performance. |
| Risks identified | Due to the high level of uncertainty, the plan does not include earnings growth from M&A or expenses such as M&A advisory fees., If suitable properties for new store openings cannot be secured as expected, the plan may be affected., Unexpected events, such as the spread of COVID-19, may have a material impact on the plan., The medium-term management plan may be revised as appropriate., Earnings per share may fluctuate depending on the future exercise of stock acquisition rights and the implementation of share repurchases., The dividend outlook may change depending on business performance and other factors. |
| Date of board resolution | 9 April 2026 |
| Publication date | 9 April 2026 |
Items this document does not state (8)
ROE targetROIC targetCost of capitalSelf-assessment of PBR and share priceSegment targetPlan assumptionsResults under the previous planSize of the Target Market
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 plan is updated every April on a rolling basis, and further revisions will be considered as appropriate in line with business performance.
How to read this page
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