Risk of misconduct at FC outlets and franchise agreement termination
First written in FY2017. 2 of 6 entries say "Mitigated", first in FY2024. Latest entry: FY2025.
Treasure Factory moved to the "Worse" side of this theme in 2019, 4 years before the typical company in this theme (2023).
The whole theme swung hardest in 2025: 3 of 10 companies on the "Worse" side.
1 other company's latest entry also says "Mitigated".
- FY2025MitigatedAnnual report
「As of the end of February 2025, the Group operated franchise stores as follows, accounting for 10% of all Group stores.」
Franchise stores accounted for 10% of all Group stores, down from 12% in the previous fiscal year. The company continues to disclose the possibility of brand damage caused by misconduct and termination of franchise agreements. - FY2024MitigatedAnnual report
「As of the end of February 2024, the Group operated franchise stores as follows, accounting for 12% of all Group stores.」
Franchise stores accounted for 12% of all Group stores, down from 14% in the previous disclosure. The company continues to disclose the possibility of brand damage caused by misconduct and termination of franchise agreements. - FY2022ReframedAnnual report
「As of the end of February 2022, the Group operated franchise stores as follows, accounting for 14% of all Group stores.」
The franchise-store breakdown changed to 4 Treasure Factory stores, 13 Kindal stores, 14 Golf Kids stores and 1 Kimberly store. The company disclosed that franchise stores accounted for 14% of all Group stores. - FY2019WorsenedAnnual report
「Comprehensive reuse format “Treasure Factory”: 4 franchise stores Apparel-specialist reuse format “Kindal” operated by a consolidated subsidiary: 20 franchise stores Golf-specialist format “Golf Kids” operated by a consolidated subsidiary: 20 franchise stores」
The 20 Golf Kids franchise stores were added, expanding the scope of the franchise business. The company describes the risk of damage to its brand image caused by misconduct at franchise stores and the possibility of terminating franchise agreements. - FY2018RestatedAnnual report
「As of the end of February 2018, the Group operated franchise stores as follows: comprehensive reuse format “Treasure Factory”: 4 stores; apparel-specialist reuse format “Kindal” operated by a consolidated subsidiary: 21 stores.」
The company disclosed the number of franchise stores and reiterated the risk of damage to its brand image caused by misconduct at franchise stores and the possibility of franchisees terminating their agreements. - FY2017First statedAnnual report
「As of the end of February 2017, the Group operated franchise stores as follows: comprehensive reuse format “Treasure Factory”: 4 stores; apparel-specialist reuse format “Kindal” operated by a consolidated subsidiary: 15 stores.」
The company describes the risk of damage to its brand image caused by misconduct at franchise stores and the possibility of terminating franchise agreements if franchisees request termination before the contract term expires.