Worth reading
53Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
-6.6
% (year-on-year change in consolidated revenue)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentation materialsFiscal year ending August 20269 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales8,257,267 Thousands of yen-6.6%
Operating profit-244,421 Thousands of yen
Ordinary income-289,393 Thousands of yen
Net income-406,908 Thousands of yen
Gross Profit Margin40.8
Selling, general and administrative expenses3,610,585 Thousands of yen
Results for the three months of the current quarter
Same-store gross profit¥665 million
Year-on-year change in same-store gross profit−¥44 million (−6.2%)
Same-store gross margin33.1%
Year-on-year change in precious-metal jewelry sales−¥76 million (−15.7%)
Year-on-year change in precious-metal jewelry gross profit−¥22 million
Full-year earnings forecast
Consolidated
Reporting periodFiscal year ending August 2027
Net Sales
¥8,676 million
Operating profit
¥54 million
Ordinary income
¥-7 million
Net income for the current fiscal year
¥-51 million
Earnings per share
-14.27 Yen
Number of stores
55 Location
Standalone
Net Sales
¥8,078 million
Operating profit
¥35 million
Ordinary income
¥-15 million
Net income for the current fiscal year
¥-39 million
Earnings per share
-10.91 Yen
Number of stores
52 Location
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Plan not achievedBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Decrease in consolidated revenue-584,182 Thousands of yen
- Decrease in consolidated gross profit-220,521 Thousands of yen
- Decrease in selling, general and administrative expenses380,312 Thousands of yen
- Extraordinary losses down200,329 Thousands of yen
- Recognition of extraordinary gain10,040 Thousands of yen
New initiatives
- Expansion of the buyback business and launch of the MEGURU Project
- Business alliance with 株式会社Clarisse and training in buyback expertise
- Expansion of the rollout of vintage products across all stores
- Development of a small-format store model
- Store strategy combining new and vintage products
- Strengthening e-commerce sales through the JUNGOLD online shop and other channels
- Made-to-order sales of JUNGOLD products for corporate customers
- AbHeri's expansion into the Taiwan market and development of overseas wholesale customers
- Launch of “18,” a two-digit numbered jewelry line from No., and adoption of TRACR diamonds
Key KPIsA metric the company considers important as a management benchmark.
- Number of stores handling vintage products51 Location
- Number of stores handling buyback transactions29 Location
- Number of vintage products sold716.7 Year-on-year change %Year on year against the same period last year+716.7%
- App and LINE member ratio31 %Year on year against the same period last year24% in 2024
- AbHeri inbound sales ratio38 %
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Average selling price of gold jewelryUp 20–50% year on year
- Gold jewelry sales volume50–60% of the previous yearfrom June onward
- Same-store customer trafficMonthly trend disclosed
- Same-store spend per customerMonthly trend disclosed
- Number of customers purchasing at the Osaka store2.1 times the first half in the second half
Segment results
ハピネス・アンド・ディ
Net Sales
¥7,757 million
Operating profit
¥-219 million
AbHeri
Net Sales
¥472 million
Operating profit
¥16 million
No. (Number Dot)
Net Sales
¥33 million
Operating profit
¥-37 million
Medium-term management plan targets
Comparison with actual resultsUnprofitable stores changed from 88 to 54, jewelry gross profit mix from 36% to 48%, watch inventory from ¥700 million to ¥300 million, vintage gross profit mix from 0% to 11%, and stores handling buyback transactions from 0 to 29
Market Size / Share
Reuse market size
2024¥3.5 trillion
2030¥4.6 trillion
Rate of increase31%
Number of stores and locations
Number at period-end55 consolidated stores, 52 Happiness and Day stores, and 3 AbHeri stores
| Item | Details |
|---|---|
| Document type | Earnings presentation materials |
| Fiscal Period Covered | Fiscal year ending August 2026 |
| Net Sales | 8,257,267 Thousands of yen (YoY -6.6%) |
| Operating profit | -244,421 Thousands of yen |
| Ordinary income | -289,393 Thousands of yen |
| Net income | -406,908 Thousands of yen |
| Gross Profit Margin | 40.8 |
| Selling, general and administrative expenses | 3,610,585 Thousands of yen |
| Results for the three months of the current quarter | Same-store gross profit ¥665 million / Year-on-year change in same-store gross profit −¥44 million (−6.2%) / Same-store gross margin 33.1% / Year-on-year change in precious-metal jewelry sales −¥76 million (−15.7%) / Year-on-year change in precious-metal jewelry gross profit −¥22 million |
| Full-year earnings forecast | Consolidated Reporting period Fiscal year ending August 2027 / Net Sales ¥8,676 million / Operating profit ¥54 million / Ordinary income ¥-7 million / Net income for the current fiscal year ¥-51 million / Earnings per share -14.27 Yen / Number of stores 55 Location / Standalone Net Sales ¥8,078 million / Operating profit ¥35 million / Ordinary income ¥-15 million / Net income for the current fiscal year ¥-39 million / Earnings per share -10.91 Yen / Number of stores 52 Location |
| Self-assessment against the plan | Plan not achieved |
| Segment results | ハピネス・アンド・ディ Net Sales ¥7,757 million / Operating profit ¥-219 million / AbHeri Net Sales ¥472 million / Operating profit ¥16 million / No. (Number Dot) Net Sales ¥33 million / Operating profit ¥-37 million / JUNGOLD business Not disclosed |
| Breakdown of Factors Affecting the Change | Decrease in consolidated revenue -584,182 Thousands of yen, Decrease in consolidated gross profit -220,521 Thousands of yen, Decrease in selling, general and administrative expenses 380,312 Thousands of yen, Extraordinary losses down 200,329 Thousands of yen, Recognition of extraordinary gain 10,040 Thousands of yen |
| Key KPIs | Number of stores handling vintage products 51 Location, Number of stores handling buyback transactions 29 Location, Number of vintage products sold 716.7 Year-on-year change (%), App and LINE member ratio 31 %, AbHeri inbound sales ratio 38 % |
| Unit price and quantity metrics | Average selling price of gold jewelry Up 20–50% year on year, Gold jewelry sales volume 50–60% of the previous year, Same-store customer traffic Monthly trend disclosed, Same-store spend per customer Monthly trend disclosed, Number of customers purchasing at the Osaka store 2.1 times the first half in the second half |
| Number of stores and locations | Number at period-end 55 consolidated stores, 52 Happiness and Day stores, and 3 AbHeri stores / Number of store openings and closures during the period Not disclosed |
| Medium-term management plan targets | Target value Not disclosed / Target fiscal year Not disclosed / Comparison with actual results Unprofitable stores changed from 88 to 54, jewelry gross profit mix from 36% to 48%, watch inventory from ¥700 million to ¥300 million, vintage gross profit mix from 0% to 11%, and stores handling buyback transactions from 0 to 29 |
| Market Size / Share | Reuse market size 2024 ¥3.5 trillion / 2030 ¥4.6 trillion / Rate of increase 31% |
| New initiatives | Expansion of the buyback business and launch of the MEGURU Project, Business alliance with 株式会社Clarisse and training in buyback expertise, Expansion of the rollout of vintage products across all stores, Development of a small-format store model, Store strategy combining new and vintage products, Strengthening e-commerce sales through the JUNGOLD online shop and other channels, Made-to-order sales of JUNGOLD products for corporate customers, AbHeri's expansion into the Taiwan market and development of overseas wholesale customers, Launch of “18,” a two-digit numbered jewelry line from No., and adoption of TRACR diamonds |
Items this document does not state (12)
Operating profit marginProgress against full-year forecastNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital 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.In general merchandise, the surge in prices of overseas brands and the decline in the number of stores continued. Jewelry and gold products also weakened in the second half as gold prices fell, following strong performance in the first half. Losses improved, however, due to the downsizing of the watch business, the introduction of reused products, the effect of store closures, reductions in SG&A expenses, particularly personnel expenses, and a decrease in extraordinary losses.
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.