Worth reading
55In focus
Scored from 5 of 6 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
1
Increase in the assumption for same-store sales growth (percentage points)Wording
Conditional
How definitive the wording is.Contents of this document
Summary of Q&AFirst quarter of the fiscal year ending February 20277 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Results for the three months of the current quarter
- Procurement15.7 % year on year
- On-site purchasing28 % year on year
- Mail-in purchasing16.8 % year on year
- E-commerce ratio15.5 %
- Year-on-year change in e-commerce sales ratio1.7 Points
- Number of new domestic stores opened12 Location
Full-year earnings forecastThe upward revision is stated, but the forecast figures by line item are not disclosed
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
First-quarter results exceeded expectations, and store openings are progressing smoothlyKey points of the Q&AKey questions raised by investors at the briefing and the company's answers
- Factors behind the strong first-quarter performance and reasons for the upward revision to the full-year forecast
- Reasons for expecting lower profit in the second quarter
- Factors behind the improvement in the gross profit margin and the outlook
- Impact of changes to the purchase coupon program on purchases
- Status of off-store channels such as at-home and mail-in purchases
- E-commerce sales trends
- Progress on new domestic store openings and regional strategy
- Differentiation from competitors and competitive strengths
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
The factors are explained, but the amounts attributable to each factor are not disclosed
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Second-half standalone same-store sales growth rateRaised from 102% to 103% year on year
New initiatives
- Campaign to boost purchases using the official app
- Increased investment in staffing and other resources for at-home purchases
- Higher e-commerce listing targets for each store
- Combining a cluster-based store-opening strategy in regional areas with stores in central urban areas
- Opening 30–35 new stores annually
Key KPIsA metric the company considers important as a management benchmark.
- Procurement15.7 % year on year
- On-site purchasing28 % year on year
- Mail-in purchasing16.8 % year on year
- E-commerce ratio15.5 %Year on year against the same period last year+1.7%
- New stores opened in the first quarter12 Location
- Stores confirmed for opening during the fiscal year27 Location
Number of stores and locations
Stores opened during the period12
Full-year store-opening target30–35 stores
| Item | Details |
|---|---|
| Document type | Summary of Q&A |
| Fiscal Period Covered | First quarter of the fiscal year ending February 2027 |
| Results for the three months of the current quarter | 15.7 % year on year, 28 % year on year, 16.8 % year on year, 15.5 %, 1.7 Points, 12 Location |
| Full-year earnings forecast | The upward revision is stated, but the forecast figures by line item are not disclosed |
| Self-assessment against the plan | First-quarter results exceeded expectations, and store openings are progressing smoothly |
| Breakdown of Factors Affecting the Change | The factors are explained, but the amounts attributable to each factor are not disclosed |
| Key KPIs | Indicator name Procurement / Value 15.7 % year on year, Indicator name On-site purchasing / Value 28 % year on year, Indicator name Mail-in purchasing / Value 16.8 % year on year, Indicator name E-commerce ratio / Value 15.5 % / Year on year against the same period last year 1.7 %, Indicator name New stores opened in the first quarter / Value 12 Location, Indicator name Stores confirmed for opening during the fiscal year / Value 27 Location |
| Number of stores and locations | Number at period-end Not disclosed / Stores opened during the period 12 / Stores closed during the period Not disclosed / Full-year store-opening target 30–35 stores |
| Assumptions Underlying the Business Outlook | Second-half standalone same-store sales growth rate Raised from 102% to 103% year on year |
| Key points of the Q&A | Factors behind the strong first-quarter performance and reasons for the upward revision to the full-year forecast, Reasons for expecting lower profit in the second quarter, Factors behind the improvement in the gross profit margin and the outlook, Impact of changes to the purchase coupon program on purchases, Status of off-store channels such as at-home and mail-in purchases, E-commerce sales trends, Progress on new domestic store openings and regional strategy, Differentiation from competitors and competitive strengths |
| New initiatives | Campaign to boost purchases using the official app, Increased investment in staffing and other resources for at-home purchases, Higher e-commerce listing targets for each store, Combining a cluster-based store-opening strategy in regional areas with stores in central urban areas, Opening 30–35 new stores annually |
Items this document does not state (20)
Net SalesOperating profitOrdinary incomeNet incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesProgress against full-year forecastSegment resultsUnit price and quantity metricsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / Share
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.Demand for reused goods expanded as consumers became more price-conscious amid inflation, demand for summer merchandise came forward as temperatures rose, and replacement demand for household appliances such as air conditioners was strong against the backdrop of the 2027 problem. While sales and gross profit exceeded expectations, selling, general and administrative expenses remained in line with the plan, which also contributed to the increase in profit.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.