Worth reading
73In focus
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
32
¥100 million (year-on-year change in operating income)Wording
Conditional
How definitive the wording is.Contents of this document
Financial Results PresentationFirst quarter of the fiscal year ending March 20278 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,289 million+3.8%
Operating profit¥188 million+20.6%
Ordinary income¥199 million+16.7%
Net income¥223 million+18.5%
Selling, general and administrative expenses¥625 million
Results for the three months of the current quarter
Total transaction value¥330.5 billion, 106.5% year on year, up ¥20.3 billion year on year
Gross sales¥320.7 billion, 106.5% year on year, up ¥19.5 billion year on year
Net Sales¥128.9 billion, 103.8% year on year, up ¥4.7 billion year on year
Gross profit¥81.4 billion, 105.8% year on year, up ¥4.4 billion year on year
Selling, General and Administrative Expenses¥62.5 billion, 102.0% year on year, up ¥1.2 billion year on year
Operating profit¥18.8 billion, 120.6% year on year, up ¥3.2 billion year on year
Ordinary income¥19.9 billion, 116.7% year on year, up ¥2.8 billion year on year
Profit attributable to owners of the parent¥22.3 billion, 118.5% year on year, up ¥3.4 billion year on year
Full-year earnings forecast
Total transaction value
¥14,050 million
Gross sales
¥13,600 million
Net Sales
¥5,620 million
Gross profit
¥3,460 million
Selling, General and Administrative Expenses
¥2,620 million
Operating profit
¥840 million
Ordinary income
¥830 million
Profit attributable to owners of the parent
¥630 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Year-on-year change in selling, general and administrative expenses
Total+¥1.2 billion
Expense structure reforms−¥1.2 billion
Sales-linked expenses+¥600 million
Strategic expenses+¥400 million
Impact on prices+¥1.1 billion
Newly consolidated+¥200 million
Other+¥100 million
Year-on-year change in segment operating income
Department store business+¥3.0 billion
Credit, financial services and membership clubs+¥200 million
Real Estate Business+¥0.3 billion
Other−¥300 million
New initiatives
- Introduction of REWARDS and other initiatives on the app for overseas customers
- Strengthening sales services for overseas customers
- 2-for-1 stock split effective 1 October 2026
- Introduction of DOE and a 4.5% target for the current fiscal year
Key KPIsA metric the company considers important as a management benchmark.
- Number of identified domestic customers849 10,000 peopleYear on year against the same period last year109%
- Number of W Members customers100 10,000 peopleYear on year against the same period last year116%
- Sales to group customers with purchases of ¥3 million or moreYear on year against the same period last year116%
- Transaction value handled through the network of locationsYear on year against the same period last year108%
- Number of overseas app members108 10,000 people
- Sales from overseas app membersYear on year against the same period last year152%
- Total transaction value from overseas sales customersYear on year against the same period last year180%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Number of identified domestic customers849 10,000 peopleYear on year against the same period last year109%
- Average spend per identified domestic customerYear on year against the same period last year107%
- Number of overseas app members108 10,000 people
- Average spend per overseas app memberYear on year against the same period last year136%
- Average spend per overseas sales customerYear on year against the same period last year132%
Segment results
Department store business
Gross sales¥296.5 billion, 106.2% year on year
Net Sales¥104.8 billion
Operating profit¥15.5 billion, up ¥3.0 billion year on year
Credit, financial services and membership clubs
Gross sales¥9.8 billion, 103.5% year on year
Net Sales¥8.8 billion
Operating profit¥2.0 billion, up ¥0.2 billion year on year
Real Estate Business
Gross sales¥7.0 billion, 140.7% year on year
Net Sales¥7 billion
Operating profit¥1.1 billion, up ¥0.3 billion year on year
Other
Gross sales¥7.2 billion, 97.2% year on year
Net Sales¥8.2 billion
Operating profit¥0.2 billion, down ¥0.3 billion year on year
Medium-term management plan targets
Phase I final-year (FY2027) operating income target¥85 billion
Current fiscal-year operating income plan¥84 billion
Financial targets
ROE targetMore than 10%
FY2026 consolidated ROE forecast10.3%
Acquisition of treasury shares
Buyback limit¥30 billion
Repurchases through July¥12.9 billion
Planned future repurchasesApproximately ¥17.0 billion
| Item | Details |
|---|---|
| Document type | Financial Results Presentation |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥1,289 million (YoY +3.8%) |
| Operating profit | ¥188 million (YoY +20.6%) |
| Ordinary income | ¥199 million (YoY +16.7%) |
| Net income | ¥223 million (YoY +18.5%) |
| Selling, general and administrative expenses | ¥625 million |
| Results for the three months of the current quarter | Total transaction value ¥330.5 billion, 106.5% year on year, up ¥20.3 billion year on year / Gross sales ¥320.7 billion, 106.5% year on year, up ¥19.5 billion year on year / Net Sales ¥128.9 billion, 103.8% year on year, up ¥4.7 billion year on year / Gross profit ¥81.4 billion, 105.8% year on year, up ¥4.4 billion year on year / Selling, General and Administrative Expenses ¥62.5 billion, 102.0% year on year, up ¥1.2 billion year on year / Operating profit ¥18.8 billion, 120.6% year on year, up ¥3.2 billion year on year / Ordinary income ¥19.9 billion, 116.7% year on year, up ¥2.8 billion year on year / Profit attributable to owners of the parent ¥22.3 billion, 118.5% year on year, up ¥3.4 billion year on year |
| Full-year earnings forecast | Total transaction value ¥14,050 million / Gross sales ¥13,600 million / Net Sales ¥5,620 million / Gross profit ¥3,460 million / Selling, General and Administrative Expenses ¥2,620 million / Operating profit ¥840 million / Ordinary income ¥830 million / Profit attributable to owners of the parent ¥630 million |
| Segment results | Department store business Gross sales ¥296.5 billion, 106.2% year on year / Net Sales ¥104.8 billion / Operating profit ¥15.5 billion, up ¥3.0 billion year on year / Credit, financial services and membership clubs Gross sales ¥9.8 billion, 103.5% year on year / Net Sales ¥8.8 billion / Operating profit ¥2.0 billion, up ¥0.2 billion year on year / Real Estate Business Gross sales ¥7.0 billion, 140.7% year on year / Net Sales ¥7 billion / Operating profit ¥1.1 billion, up ¥0.3 billion year on year / Other Gross sales ¥7.2 billion, 97.2% year on year / Net Sales ¥8.2 billion / Operating profit ¥0.2 billion, down ¥0.3 billion year on year |
| Breakdown of Factors Affecting the Change | Year-on-year change in selling, general and administrative expenses Total +¥1.2 billion / Expense structure reforms −¥1.2 billion / Sales-linked expenses +¥600 million / Strategic expenses +¥400 million / Impact on prices +¥1.1 billion / Newly consolidated +¥200 million / Other +¥100 million / Year-on-year change in segment operating income Department store business +¥3.0 billion / Credit, financial services and membership clubs +¥200 million / Real Estate Business +¥0.3 billion / Other −¥300 million |
| Key KPIs | Indicator name Number of identified domestic customers / Value 849 10,000 people / Year on year against the same period last year 109%, Indicator name Number of W Members customers / Value 100 10,000 people / Year on year against the same period last year 116%, Indicator name Sales to group customers with purchases of ¥3 million or more / Value Not disclosed / Year on year against the same period last year 116%, Indicator name Transaction value handled through the network of locations / Value Not disclosed / Year on year against the same period last year 108%, Indicator name Number of overseas app members / Value 108 10,000 people / Year on year against the same period last year Not disclosed, Indicator name Sales from overseas app members / Value Not disclosed / Year on year against the same period last year 152%, Indicator name Total transaction value from overseas sales customers / Value Not disclosed / Year on year against the same period last year 180% |
| Unit price and quantity metrics | Indicator name Number of identified domestic customers / Value 849 10,000 people / Year on year against the same period last year 109%, Indicator name Average spend per identified domestic customer / Value Not disclosed / Year on year against the same period last year 107%, Indicator name Number of overseas app members / Value 108 10,000 people / Year on year against the same period last year Not disclosed, Indicator name Average spend per overseas app member / Value Not disclosed / Year on year against the same period last year 136%, Indicator name Average spend per overseas sales customer / Value Not disclosed / Year on year against the same period last year 132% |
| Medium-term management plan targets | Phase I final-year (FY2027) operating income target ¥85 billion / Current fiscal-year operating income plan ¥84 billion |
| Financial targets | ROE target More than 10% / FY2026 consolidated ROE forecast 10.3% |
| Acquisition of treasury shares | Buyback limit ¥30 billion / Repurchases through July ¥12.9 billion / Planned future repurchases Approximately ¥17.0 billion / Period Not disclosed |
| New initiatives | Introduction of REWARDS and other initiatives on the app for overseas customers, Strengthening sales services for overseas customers, 2-for-1 stock split effective 1 October 2026, Introduction of DOE and a 4.5% target for the current fiscal year |
Items this document does not state (14)
Gross Profit MarginOperating profit marginProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookAnnual DividendPayout ratioCapital expendituresOrders received and order backlogMarket Size / ShareKey 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.Total sales to domestic and overseas customers remained solid, while relationships with identified customers deepened and points of contact with overseas customers expanded. In addition, despite the impact of inflation, the company advanced reforms to its expense structure and continued to control expenses. The full-year plan reflects first-quarter results and strong performance through July.
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