Komori
Earnings presentation3093Treasure Factory Co.,LTD.Retail

Financial Results Presentation for the First Quarter of the Fiscal Year Ending February 2027

Following strong sales in Q1 and an improvement in the gross profit margin, the full-year forecasts for net sales and operating profit for FY2027/2 were raised. The full-year dividend forecast was also increased from ¥40 to ¥46, and the interim dividend forecast was revised to ¥24.

Worth reading
80Important
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
2.6
¥100 million (increase from the previous full-year operating profit forecast)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationFirst quarter of the fiscal year ending February 202716 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales13,782 million yen+16.4%
Operating profit1,855 million yen+24.0%
Ordinary income1,855 million yen+20.9%
Net income1,224 million yen+22.6%
Selling, general and administrative expenses6,540 million yen
Gross Profit Margin
Rate60.9%
Year on year against the same period last year+0.5 percentage points year on year
Operating profit margin
Rate13.5%
Year on year against the same period last year+0.9 percentage points
Results for the three months of the current quarter
Net Sales
13,782 million yen
Operating profit
1,855 million yen
Operating profit margin13.5%
Full-year earnings forecast
Net Sales
54,975 million yen
Gross profit
32,823 million yen
Operating profit
5,333 million yen
Ordinary income
5,332 million yen
Profit attributable to owners of the parent
3,551 million yen
Earnings per share
151.49 yen
Operating profit margin9.7%
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。
Net Sales
Before revision25%
After revision25%
Operating profit
Before revision37%
After revision35%
Profit attributable to owners of the parent34.5%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Selling, general and administrative expenses came in as planned. Kindal has continued to outperform the plan.
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net Sales
Standalone existing stores, etc.1,356
Standalone new stores opened during the fiscal year189
Standalone stores closed-123
Standalone other105
Subsidiaries412
Operating profit
Standalone existing stores, etc.555
Standalone new stores opened during the fiscal year-71
Standalone stores closed-35
Standalone other-150
Subsidiaries60
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Second-half standalone same-store sales growth rateYoY103%
Consolidated gross profit margin59.7%
Consolidated SG&A expense ratio50.0%
Target increase in mail-in and on-site purchasesApproximately 5–15%
New initiatives
  • Launched TreFac Anime Lab, an anime and character-goods specialty format, and opened its first store on 18 June 2026.
  • Established a DX appraisal and authentication center and launched a group-wide AI project. Trial operations are under way to improve the efficiency of appraisal data entry and search processes.
  • Expanded the rental business through the acquisition of a business providing unmanned rental dress services.
  • Suspended the real estate business, TreFac Real Estate, in August 2026.
  • Aims to open its first store in the United States during FY2027/2.
Key KPIsA metric the company considers important as a management benchmark.
  • Standalone same-store sales year on year106.6 %
    Year on year against the same period last yearQ1 of the previous fiscal year: 104.4%
  • Standalone same-store gross profit margin66.3 %
    Year on year against the same period last year+1.3 percentage points
  • Consolidated e-commerce sales ratio15.5 %
    Year on year against the same period last yearQ1 of the previous fiscal year: 13.8%; +1.7 percentage points
  • Purchasing value year on year115.7 %
    Year on year against the same period last yearQ1 of the previous fiscal year: 122.8%; -7.1 percentage points
  • New stores opened during the fiscal year12 stores
    Year on year against the same period last yearQ1 of the previous fiscal year: 8 stores; +4 stores
  • Tax-free sales ratio12.1 %
    Year on year against the same period last year+0.7 percentage points
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Number of sales
105.6 % year on year
Selling price
101 % year on year
Segment results
Kindal
Net Sales¥2.12 billion
Year-on-year change in revenue+14.0%
ProfitProfit growth
Pickup Japan
Net Sales¥790 million
Year-on-year change in revenue+6.0%
ProfitProfit growth
GK Factory
Year-on-year change in revenue+19.7%
Thai subsidiary
Year-on-year change in revenue+18.5%
Year-on-year operating profit growth+15.0%
Taiwan subsidiary
ProfitProfitable in Q1
Medium-term management plan targets
Final yearFiscal year ending February 2029
Net Sales¥71.0 billion
Operating profit¥6.38 billion
Annual store openings35–40 stores
Payout ratio30.0%
Financial targets
ROEMaintain a high level
ROICWork to improve ROIC at the store level
Actual equity ratio49.3%
Market Size / Share
Major competitors have approximately 1,000 stores in Japan. The company recognizes that its own group has room to open at least a comparable number of stores.
Number of stores and locations
Stores opened during the period12 stores
Stores closed during the period0 stores (2 stores confirmed for the full year, including the 4Q planned closures)
Full-year new-store opening target30–35 stores
Full-year confirmed store openings27 stores
Number of employees
Number of Employees1,168 employees, 3,136 part-time and temporary staff, 4,304 in total (FY2026/2)
Changes during the period and hiring plan144 new employees joined the company in April 2026
Capital expenditures
Approximately ¥9.5–11.0 billionnew-store investment
Annual Dividend
Annual total¥46
Interim¥24
End of period¥22
Payout ratio
30.4% (near-term target: at least 30%)
Acquisition of treasury shares
Share repurchases are positioned as a capital allocation option alongside growth investments and M&A, with a policy of implementing them flexibly when the share price is undervalued. The amount, number of shares and period for the repurchase authorization are not disclosed.
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredFirst quarter of the fiscal year ending February 2027
Net Sales13,782 million yen (YoY +16.4%)
Operating profit1,855 million yen (YoY +24.0%)
Ordinary income1,855 million yen (YoY +20.9%)
Net income1,224 million yen (YoY +22.6%)
Gross Profit MarginRate 60.9% / Year on year against the same period last year +0.5 percentage points year on year
Operating profit marginRate 13.5% / Year on year against the same period last year +0.9 percentage points
Selling, general and administrative expenses6,540 million yen
Results for the three months of the current quarterNet Sales 13,782 million yen / Operating profit 1,855 million yen / Operating profit margin 13.5%
Full-year earnings forecastNet Sales 54,975 million yen / Gross profit 32,823 million yen / Operating profit 5,333 million yen / Ordinary income 5,332 million yen / Profit attributable to owners of the parent 3,551 million yen / Earnings per share 151.49 yen / Operating profit margin 9.7%
Progress against full-year forecastNet Sales Before revision 25% / After revision 25% / Operating profit Before revision 37% / After revision 35% / Profit attributable to owners of the parent 34.5%
Self-assessment against the planSelling, general and administrative expenses came in as planned. Kindal has continued to outperform the plan.
Segment resultsKindal Net Sales ¥2.12 billion / Year-on-year change in revenue +14.0% / Profit Profit growth / Pickup Japan Net Sales ¥790 million / Year-on-year change in revenue +6.0% / Profit Profit growth / GK Factory Year-on-year change in revenue +19.7% / Profit Not disclosed / Thai subsidiary Year-on-year change in revenue +18.5% / Year-on-year operating profit growth +15.0% / Taiwan subsidiary Net Sales Not disclosed / Profit Profitable in Q1
Breakdown of Factors Affecting the ChangeNet Sales Standalone existing stores, etc. 1,356 / Standalone new stores opened during the fiscal year 189 / Standalone stores closed -123 / Standalone other 105 / Subsidiaries 412 / Operating profit Standalone existing stores, etc. 555 / Standalone new stores opened during the fiscal year -71 / Standalone stores closed -35 / Standalone other -150 / Subsidiaries 60
Key KPIsIndicator name Standalone same-store sales year on year / Value 106.6 % / Year on year against the same period last year Q1 of the previous fiscal year: 104.4%, Indicator name Standalone same-store gross profit margin / Value 66.3 % / Year on year against the same period last year +1.3 percentage points, Indicator name Consolidated e-commerce sales ratio / Value 15.5 % / Year on year against the same period last year Q1 of the previous fiscal year: 13.8%; +1.7 percentage points, Indicator name Purchasing value year on year / Value 115.7 % / Year on year against the same period last year Q1 of the previous fiscal year: 122.8%; -7.1 percentage points, Indicator name New stores opened during the fiscal year / Value 12 stores / Year on year against the same period last year Q1 of the previous fiscal year: 8 stores; +4 stores, Indicator name Tax-free sales ratio / Value 12.1 % / Year on year against the same period last year +0.7 percentage points
Unit price and quantity metricsNumber of sales Value 105.6 % year on year / Selling price Value 101 % year on year
Number of stores and locationsNumber at period-end Not disclosed / Stores opened during the period 12 stores / Stores closed during the period 0 stores (2 stores confirmed for the full year, including the 4Q planned closures) / Full-year new-store opening target 30–35 stores / Full-year confirmed store openings 27 stores
Number of employeesNumber of Employees 1,168 employees, 3,136 part-time and temporary staff, 4,304 in total (FY2026/2) / Changes during the period and hiring plan 144 new employees joined the company in April 2026
Assumptions Underlying the Business OutlookSecond-half standalone same-store sales growth rate YoY103% / Consolidated gross profit margin 59.7% / Consolidated SG&A expense ratio 50.0% / Target increase in mail-in and on-site purchases Approximately 5–15%
Medium-term management plan targetsFinal year Fiscal year ending February 2029 / Net Sales ¥71.0 billion / Operating profit ¥6.38 billion / Annual store openings 35–40 stores / Payout ratio 30.0%
Financial targetsROE Maintain a high level / ROIC Work to improve ROIC at the store level / Target figure Not disclosed / Actual equity ratio 49.3%
Annual DividendAnnual total ¥46 / Interim ¥24 / End of period ¥22
Payout ratio30.4% (near-term target: at least 30%)
Acquisition of treasury sharesShare repurchases are positioned as a capital allocation option alongside growth investments and M&A, with a policy of implementing them flexibly when the share price is undervalued. The amount, number of shares and period for the repurchase authorization are not disclosed.
Capital expendituresApproximately ¥9.5–11.0 billion
Market Size / ShareMajor competitors have approximately 1,000 stores in Japan. The company recognizes that its own group has room to open at least a comparable number of stores.
New initiativesLaunched TreFac Anime Lab, an anime and character-goods specialty format, and opened its first store on 18 June 2026., Established a DX appraisal and authentication center and launched a group-wide AI project. Trial operations are under way to improve the efficiency of appraisal data entry and search processes., Expanded the rental business through the acquisition of a business providing unmanned rental dress services., Suspended the real estate business, TreFac Real Estate, in August 2026., Aims to open its first store in the United States during FY2027/2.
Items this document does not state (3)
Risk amount incorporated into the outlookOrders 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.

Q1 sales were strong, and the effects of higher sales and profits at existing stores and stores opened in the previous fiscal year, together with the improvement in the gross profit margin, progressed. In light of the high Q1 progress rate, the assumed second-half standalone same-store sales growth rate was also raised from 102% to 103%.

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Financial Results Presentation for the First Quarter of the Fiscal Year Ending February 2027 | Treasure Factory Co.,LTD. (3093) timely disclosure | Komori