Komori
Financial results presentation3093Treasure Factory Co.,LTD.Retail

Earnings Presentation Materials for the Second Quarter of the Fiscal Year Ending February 2027

The cumulative results for the first half of the fiscal year ending February 2027 showed higher revenue and profit, driven by strong performance at existing stores, new store openings and a higher gross margin. Operating profit rose 21.5% year on year and exceeded the revised first-half forecast, but the full-year forecast was left unchanged.

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
21.5
Year-on-year change in operating profit (%)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationFirst half of the fiscal year ending February 202715 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥25,891 million+15.3%
Operating profit¥2,330 million+21.5%
Ordinary income¥2,322 million+18.5%
Net income¥1,497 million+21.0%
Gross Profit Margin60.2 %
Operating profit margin9 %
Selling, general and administrative expenses¥13,260 million
Results for the three months of the current quarter
Net Sales
¥12,109 million+14.1%
Operating profit
¥475 million+12.5%
Operating profit margin
3.9 %
Year-on-year change (points)-0.1
Full-year earnings forecast
Net Sales
¥54,975 million
Gross profit
¥32,823 million
Operating profit
¥5,333 million
Profit attributable to owners of the parent
¥3,551 million
Earnings per share
¥151.49
Dividend per share
¥46
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 Sales47
Operating profit44
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progressing smoothly against the revised plan
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net Sales
Standalone, existing stores and other¥2,076 million
Standalone, stores opened during the fiscal year¥558 million
Standalone, closed stores¥-219 million
Standalone and other¥203 million
Subsidiaries¥820 million
Operating profit
Standalone, existing stores and other¥808 million
Standalone, stores opened during the fiscal year¥-121 million
Standalone, closed stores¥-56 million
Standalone and other¥-263 million
Subsidiaries¥43 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Second-half same-store sales YoY103 %
Consolidated gross profit margin59.7 %
Consolidated SG&A expense ratio50 %
New initiatives
  • Launch of an AI and DX project
  • Establishment of a specialist organization, the “査定DX・真贋室” (appraisal DX and authentication office)
  • Trial operation to improve the efficiency of data entry and search work in appraisals
  • Opening stores under the new formats “トレファク楽器” (musical instruments) and “トレファクアニメラボ” (anime)
  • Opening of the U.S. subsidiary’s first store in spring 2027
  • Acquisition of the business operating an unmanned rental dress service
  • Suspension of services for the real estate business “トレファク不動産”
Key KPIsA metric the company considers important as a management benchmark.
  • Standalone same-store sales year on year105.2 %
    Year on year against the same period last year+0.9%
  • Standalone same-store gross profit margin65.9 %
    Year on year against the same period last year+1.0%
  • Consolidated e-commerce sales ratio16 %
    Year on year against the same period last year+1.6%
  • Purchasing value year on year114.6 %
    Year on year against the same period last year-7.2%
  • New stores opened during the fiscal year19 stores
    Year on year against the same period last year+1.0%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Standalone existing stores
Sales volume YoY103.6
Average selling price YoY101.6
Mail-in purchasing
Year on year against the same period last year+122.2%
On-site purchasing
Year on year against the same period last year+120.5%
Segment results
Kindal
Net Sales¥3,910 million
Year-on-year change in revenue¥14.3 million
ProfitPerformance has exceeded the plan
Pickup Japan
Net Sales¥1,550 million
Year-on-year change in revenue¥7.8 million
ProfitHigher revenue and profits
GK Factory
Year-on-year change in revenue19
Thai subsidiary
Net SalesRevenue growth
Operating profitProfit decrease
Taiwan subsidiary
Operating profitLoss for the first half
Medium-term management plan targets
Target fiscal yearFiscal year ending February 2029
Net Sales71,000
Revenue unit¥ million
Operating profit6,300
Operating profit unit¥ million
Annual store openings35–40 stores
Financial targets
Equity ratio
Actual results50.8 %
Market Size / Share
Competitive comparisonCompetitors have approximately 1,000 stores in Japan
Number of stores and locations
Stores opened during the period19
Stores closed during the period4
Confirmed store openings for the year37
Number of employees
Number of Employees4,304 people
Breakdown
Employee1,168
Part-time and casual staff3,136
Annual Dividend
Annual dividend per share¥46
Interim¥24
End of period¥22
Payout ratio
30.4
Acquisition of treasury shares
The policy is to execute share repurchases flexibly when the share price is undervalued, but the acquisition limit, number of shares and period are Not disclosed
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFirst half of the fiscal year ending February 2027
Net Sales¥25,891 million (YoY +15.3%)
Operating profit¥2,330 million (YoY +21.5%)
Ordinary income¥2,322 million (YoY +18.5%)
Net income¥1,497 million (YoY +21.0%)
Gross Profit Margin60.2 %
Operating profit margin9 %
Selling, general and administrative expenses¥13,260 million
Results for the three months of the current quarterNet Sales ¥12,109 million (YoY +14.1%) / Operating profit ¥475 million (YoY +12.5%) / Operating profit margin 3.9 %
Full-year earnings forecastNet Sales ¥54,975 million / Gross profit ¥32,823 million / Operating profit ¥5,333 million / Profit attributable to owners of the parent ¥3,551 million / Earnings per share ¥151.49 / Dividend per share ¥46
Progress against full-year forecastNet Sales 47 / Operating profit 44
Self-assessment against the planProgressing smoothly against the revised plan
Segment resultsKindal Net Sales ¥3,910 million / Year-on-year change in revenue ¥14.3 million / Profit Performance has exceeded the plan / Pickup Japan Net Sales ¥1,550 million / Year-on-year change in revenue ¥7.8 million / Profit Higher revenue and profits / GK Factory Year-on-year change in revenue 19 / Profit Not disclosed / Thai subsidiary Net Sales Revenue growth / Operating profit Profit decrease / Taiwan subsidiary Net Sales Not disclosed / Operating profit Loss for the first half
Breakdown of Factors Affecting the ChangeNet Sales Standalone, existing stores and other ¥2,076 million / Standalone, stores opened during the fiscal year ¥558 million / Standalone, closed stores ¥-219 million / Standalone and other ¥203 million / Subsidiaries ¥820 million / Operating profit Standalone, existing stores and other ¥808 million / Standalone, stores opened during the fiscal year ¥-121 million / Standalone, closed stores ¥-56 million / Standalone and other ¥-263 million / Subsidiaries ¥43 million
Key KPIsIndicator name Standalone same-store sales year on year / Value 105.2 % / Year on year against the same period last year 0.9 %, Indicator name Standalone same-store gross profit margin / Value 65.9 % / Year on year against the same period last year 1 %, Indicator name Consolidated e-commerce sales ratio / Value 16 % / Year on year against the same period last year 1.6 %, Indicator name Purchasing value year on year / Value 114.6 % / Year on year against the same period last year -7.2 %, Indicator name New stores opened during the fiscal year / Value 19 stores / Year on year against the same period last year 1 stores
Unit price and quantity metricsStandalone existing stores Sales volume YoY 103.6 / Average selling price YoY 101.6 / Mail-in purchasing Year on year against the same period last year 122.2 / On-site purchasing Year on year against the same period last year 120.5
Number of stores and locationsNumber at period-end Not disclosed / Stores opened during the period 19 / Stores closed during the period 4 / Confirmed store openings for the year 37
Number of employeesNumber of Employees 4,304 people / Breakdown Employee 1,168 / Part-time and casual staff 3,136 / Change during the period Not disclosed / Hiring plan Not disclosed
Assumptions Underlying the Business OutlookSecond-half same-store sales YoY 103 % / Consolidated gross profit margin 59.7 % / Consolidated SG&A expense ratio 50 %
Medium-term management plan targetsTarget fiscal year Fiscal year ending February 2029 / Net Sales 71,000 / Revenue unit ¥ million / Operating profit 6,300 / Operating profit unit ¥ million / Annual store openings 35–40 stores
Financial targetsEquity ratio Actual results 50.8 % / ROE Not disclosed / ROIC Not disclosed / Debt-to-equity ratio Not disclosed
Annual DividendAnnual dividend per share ¥46 / Interim ¥24 / End of period ¥22
Payout ratio30.4
Acquisition of treasury sharesThe policy is to execute share repurchases flexibly when the share price is undervalued, but the acquisition limit, number of shares and period are Not disclosed
Market Size / ShareMarket Size Not disclosed / Share Not disclosed / Competitive comparison Competitors have approximately 1,000 stores in Japan
New initiativesLaunch of an AI and DX project, Establishment of a specialist organization, the “査定DX・真贋室” (appraisal DX and authentication office), Trial operation to improve the efficiency of data entry and search work in appraisals, Opening stores under the new formats “トレファク楽器” (musical instruments) and “トレファクアニメラボ” (anime), Opening of the U.S. subsidiary’s first store in spring 2027, Acquisition of the business operating an unmanned rental dress service, Suspension of services for the real estate business “トレファク不動産”
Items this document does not state (4)
Risk amount incorporated into the outlookCapital expendituresOrders 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.

Strong sales and a higher gross margin drove an increase in gross profit. The main factors were the higher revenue and profit contributions from existing stores and stores opened in the previous fiscal year, the contribution from new store openings, and improved merchandise margins following changes to the purchase coupon program. Selling, general and administrative expenses were in line with the plan, and the SG&A ratio also declined due to the effect of higher revenue.

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.
Earnings Presentation Materials for the Second Quarter of the Fiscal Year Ending February 2027 | Treasure Factory Co.,LTD. (3093) timely disclosure | Komori