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Presentation materials for financial results3179Syuppin Co.,Ltd.Retail

Medium-Term Management Plan for the Fiscal Year Ending March 2026

The company formulated a new medium-term management plan covering the fiscal years ending March 2027 through March 2029, setting out plans for stable growth in the camera business, strengthening the watch business, and expanding cross-border e-commerce. It targets revenue of ¥63.3 billion, operating profit of ¥3.7 billion, and ROE of 20.0% for the fiscal year ending March 2029, while investing in merchandise procurement, systems, human resources and M&A, and returning profits to shareholders.

Worth reading
70In focus
Scored from 5 of 6 sections
Direction
Improvement
Direction inferred from the company’s description.
Scale
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Wording
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Contents of this document

Medium-Term Management Plan PresentationFiscal years ending March 2027 through March 2029 (including results for the fiscal year ending March 2026)11 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales
Value
Actual results for the fiscal year ending March 2026519
Fiscal year ending March 2027: plan551
Plan for the fiscal year ending March 2028590
Plan for the fiscal year ending March 2029633
Operating profit
Value
Actual results for the fiscal year ending March 202625
Fiscal year ending March 2027: plan28
Plan for the fiscal year ending March 202832
Plan for the fiscal year ending March 202937
Ordinary income
Value
Actual results for the fiscal year ending March 202625
Fiscal year ending March 2027: plan27
Plan for the fiscal year ending March 202831
Plan for the fiscal year ending March 202937
Net income
Value
Actual results for the fiscal year ending March 202617
Fiscal year ending March 2027: plan19
Plan for the fiscal year ending March 202821
Plan for the fiscal year ending March 202925
Gross Profit Margin
Value
Actual results for the fiscal year ending March 202618.8
Fiscal year ending March 2027: plan19.1
Plan for the fiscal year ending March 202819.5
Plan for the fiscal year ending March 202920
Operating profit margin
Value
Actual results for the fiscal year ending March 20264.9
Fiscal year ending March 2027: plan5
Plan for the fiscal year ending March 20285.4
Plan for the fiscal year ending March 20295.9
Selling, general and administrative expenses
Value
Actual results for the fiscal year ending March 202672
Fiscal year ending March 2027: plan78
Plan for the fiscal year ending March 202884
Plan for the fiscal year ending March 202989
SG&A-to-sales ratio
Actual results for the fiscal year ending March 202613.9
Fiscal year ending March 2027: plan14.1
Plan for the fiscal year ending March 202814.2
Plan for the fiscal year ending March 202914.1
What the company explained in this material
New initiatives
  • Allocate management resources to the watch business and expand the lineup of high-priced and rare-value products
  • Replace the core system and renew the e-commerce site as part of efforts to strengthen the e-commerce platform
  • Plan to launch new services for customers
  • Revitalize the Shuppin Points program
  • Customer services using one-to-one marketing, AI and technology
  • Expand overseas sales through eBay and Chrono24 in cross-border e-commerce
  • Strategic investments in human resources, M&A and other areas
  • Consider opportunistic share repurchases
Key KPIsA metric the company considers important as a management benchmark.
  • ROE
    Value
    Actual results for the fiscal year ending March 2026 16.5 / Fiscal year ending March 2027: plan 17.3 / Plan for the fiscal year ending March 2028 18.5 / Plan for the fiscal year ending March 2029 20
  • EC sales
    Value
    Actual results for the fiscal year ending March 2026 392 / Fiscal year ending March 2027: plan 424 / Plan for the fiscal year ending March 2028 445 / Plan for the fiscal year ending March 2029 468
  • GMROI (company-wide)
    Value
    Fiscal year ending March 2027: plan 107.6 / Plan for the fiscal year ending March 2028 108.7 / Plan for the fiscal year ending March 2029 108.1
  • Cross-border e-commerce/camera business eBay sales125,000 Items trailing 12 months
  • Cross-border e-commerce/watch business eBay sales2,190 Items trailing 12 months
  • Cross-border e-commerce/watch business Chrono24 sales934 Items trailing 12 months
  • Positive feedback from eBay buyers100 % trailing 12 months
  • Chrono24 buyer rating4.9 Stars out of 5 trailing 12 months
Segment results
Camera business
Net Sales
Actual results for the fiscal year ending March 2026407
Fiscal year ending March 2027: plan433
Plan for the fiscal year ending March 2028444
Plan for the fiscal year ending March 2029455
EC sales
Actual results for the fiscal year ending March 2026344
Fiscal year ending March 2027: plan372
Plan for the fiscal year ending March 2028381
Plan for the fiscal year ending March 2029392
Ordinary income
Fiscal year ending March 2027: plan44
Plan for the fiscal year ending March 202847
Plan for the fiscal year ending March 202950
Clock Business
Net Sales
Actual results for the fiscal year ending March 2026104
Fiscal year ending March 2027: plan113
Plan for the fiscal year ending March 2028141
Plan for the fiscal year ending March 2029171
EC sales
Actual results for the fiscal year ending March 202642
Fiscal year ending March 2027: plan48
Plan for the fiscal year ending March 202860
Plan for the fiscal year ending March 202972
Ordinary income
Fiscal year ending March 2027: plan4
Plan for the fiscal year ending March 20287
Plan for the fiscal year ending March 202911
Writing-instrument business
Net Sales
Actual results for the fiscal year ending March 20264.8
Fiscal year ending March 2027: plan5.7
Plan for the fiscal year ending March 20286
Plan for the fiscal year ending March 20296.3
EC sales
Actual results for the fiscal year ending March 20263.4
Fiscal year ending March 2027: plan4.1
Plan for the fiscal year ending March 20284.3
Plan for the fiscal year ending March 20294.5
Medium-term management plan targets
Target fiscal yearFiscal year ending March 2029
Target value
Net Sales633
Operating profit37
Ordinary income37
Net income for the current fiscal year25
ROE20
Comparison with actual resultsResults for the fiscal year ending March 2026 are also shown
Financial targets
ROE
Actual results for the fiscal year ending March 202616.5
Target for the fiscal year ending March 202920
Market Size / Share
  • Global pre-owned luxury watch market
    FiguresCAGR of 9.2% through 2030; market size of US$45.0 billion
  • Global online pre-owned luxury watch market
    FiguresCAGR of 9.9%; market size of US$16.1 billion
  • Global cross-border e-commerce market
    FiguresCAGR of approximately 20% through 2034; market size of US$6.72 trillion
Number of stores and locations
The company states that it has only 1 physical store. The number of openings and closures during the period is not disclosed.
Number of employees
Number of Employees
Actual results for the fiscal year ending March 2026281
Fiscal year ending March 2027: plan284
Plan for the fiscal year ending March 2028295
Plan for the fiscal year ending March 2029300
Capital expenditures
¥7 100 million including system investments; cumulative total for 3 years
Payout ratio
Actual results for the fiscal year ending March 202659.8
Fiscal year ending March 2027: plan45.9
Plan for the fiscal year ending March 202845.5
Plan for the fiscal year ending March 202945.3
Medium-term management plan policyTarget payout ratio of 40–50%
Acquisition of treasury shares
The company is considering opportunistic share repurchases. The repurchase amount, number of shares and period are not disclosed.
Contents of this document
ItemDetails
Document typeMedium-Term Management Plan Presentation
Fiscal Period CoveredFiscal years ending March 2027 through March 2029 (including results for the fiscal year ending March 2026)
Net Salesvalue Actual results for the fiscal year ending March 2026 519 / Fiscal year ending March 2027: plan 551 / Plan for the fiscal year ending March 2028 590 / Plan for the fiscal year ending March 2029 633 / yoy_pct Not disclosed
Operating profitvalue Actual results for the fiscal year ending March 2026 25 / Fiscal year ending March 2027: plan 28 / Plan for the fiscal year ending March 2028 32 / Plan for the fiscal year ending March 2029 37 / yoy_pct Not disclosed
Ordinary incomevalue Actual results for the fiscal year ending March 2026 25 / Fiscal year ending March 2027: plan 27 / Plan for the fiscal year ending March 2028 31 / Plan for the fiscal year ending March 2029 37 / yoy_pct Not disclosed
Net incomevalue Actual results for the fiscal year ending March 2026 17 / Fiscal year ending March 2027: plan 19 / Plan for the fiscal year ending March 2028 21 / Plan for the fiscal year ending March 2029 25 / yoy_pct Not disclosed
Gross Profit Marginvalue Actual results for the fiscal year ending March 2026 18.8 / Fiscal year ending March 2027: plan 19.1 / Plan for the fiscal year ending March 2028 19.5 / Plan for the fiscal year ending March 2029 20 / Year-on-year change (points) Not disclosed
Operating profit marginvalue Actual results for the fiscal year ending March 2026 4.9 / Fiscal year ending March 2027: plan 5 / Plan for the fiscal year ending March 2028 5.4 / Plan for the fiscal year ending March 2029 5.9 / Year-on-year change (points) Not disclosed
Selling, general and administrative expensesvalue Actual results for the fiscal year ending March 2026 72 / Fiscal year ending March 2027: plan 78 / Plan for the fiscal year ending March 2028 84 / Plan for the fiscal year ending March 2029 89 / SG&A-to-sales ratio Actual results for the fiscal year ending March 2026 13.9 / Fiscal year ending March 2027: plan 14.1 / Plan for the fiscal year ending March 2028 14.2 / Plan for the fiscal year ending March 2029 14.1
Segment resultsCamera business Net Sales Actual results for the fiscal year ending March 2026 407 / Fiscal year ending March 2027: plan 433 / Plan for the fiscal year ending March 2028 444 / Plan for the fiscal year ending March 2029 455 / EC sales Actual results for the fiscal year ending March 2026 344 / Fiscal year ending March 2027: plan 372 / Plan for the fiscal year ending March 2028 381 / Plan for the fiscal year ending March 2029 392 / Ordinary income Fiscal year ending March 2027: plan 44 / Plan for the fiscal year ending March 2028 47 / Plan for the fiscal year ending March 2029 50 / Clock Business Net Sales Actual results for the fiscal year ending March 2026 104 / Fiscal year ending March 2027: plan 113 / Plan for the fiscal year ending March 2028 141 / Plan for the fiscal year ending March 2029 171 / EC sales Actual results for the fiscal year ending March 2026 42 / Fiscal year ending March 2027: plan 48 / Plan for the fiscal year ending March 2028 60 / Plan for the fiscal year ending March 2029 72 / Ordinary income Fiscal year ending March 2027: plan 4 / Plan for the fiscal year ending March 2028 7 / Plan for the fiscal year ending March 2029 11 / Writing-instrument business Net Sales Actual results for the fiscal year ending March 2026 4.8 / Fiscal year ending March 2027: plan 5.7 / Plan for the fiscal year ending March 2028 6 / Plan for the fiscal year ending March 2029 6.3 / EC sales Actual results for the fiscal year ending March 2026 3.4 / Fiscal year ending March 2027: plan 4.1 / Plan for the fiscal year ending March 2028 4.3 / Plan for the fiscal year ending March 2029 4.5
Key KPIsIndicator name ROE / Value Actual results for the fiscal year ending March 2026 16.5 / Fiscal year ending March 2027: plan 17.3 / Plan for the fiscal year ending March 2028 18.5 / Plan for the fiscal year ending March 2029 20, Indicator name EC sales / Value Actual results for the fiscal year ending March 2026 392 / Fiscal year ending March 2027: plan 424 / Plan for the fiscal year ending March 2028 445 / Plan for the fiscal year ending March 2029 468, Indicator name GMROI (company-wide) / Value Fiscal year ending March 2027: plan 107.6 / Plan for the fiscal year ending March 2028 108.7 / Plan for the fiscal year ending March 2029 108.1, Indicator name Cross-border e-commerce/camera business eBay sales / Value 125,000 Items (trailing 12 months), Indicator name Cross-border e-commerce/watch business eBay sales / Value 2,190 Items (trailing 12 months), Indicator name Cross-border e-commerce/watch business Chrono24 sales / Value 934 Items (trailing 12 months), Indicator name Positive feedback from eBay buyers / Value 100 % (trailing 12 months), Indicator name Chrono24 buyer rating / Value 4.9 Stars out of 5 (trailing 12 months)
Number of stores and locationsThe company states that it has only 1 physical store. The number of openings and closures during the period is not disclosed.
Number of employeesNumber of Employees Actual results for the fiscal year ending March 2026 281 / Fiscal year ending March 2027: plan 284 / Plan for the fiscal year ending March 2028 295 / Plan for the fiscal year ending March 2029 300 / Changes during the period and hiring plan Not disclosed
Medium-term management plan targetsTarget fiscal year Fiscal year ending March 2029 / Target value Net Sales 633 / Operating profit 37 / Ordinary income 37 / Net income for the current fiscal year 25 / ROE 20 / Comparison with actual results Results for the fiscal year ending March 2026 are also shown
Financial targetsROE Actual results for the fiscal year ending March 2026 16.5 / Target for the fiscal year ending March 2029 20
Payout ratioActual results for the fiscal year ending March 2026 59.8 / Fiscal year ending March 2027: plan 45.9 / Plan for the fiscal year ending March 2028 45.5 / Plan for the fiscal year ending March 2029 45.3 / Medium-term management plan policy Target payout ratio of 40–50%
Acquisition of treasury sharesThe company is considering opportunistic share repurchases. The repurchase amount, number of shares and period are not disclosed.
Capital expenditures¥7 100 million (including system investments; cumulative total for 3 years)
Market Size / ShareSubject Global pre-owned luxury watch market / Figures CAGR of 9.2% through 2030; market size of US$45.0 billion, Subject Global online pre-owned luxury watch market / Figures CAGR of 9.9%; market size of US$16.1 billion, Subject Global cross-border e-commerce market / Figures CAGR of approximately 20% through 2034; market size of US$6.72 trillion
New initiativesAllocate management resources to the watch business and expand the lineup of high-priced and rare-value products, Replace the core system and renew the e-commerce site as part of efforts to strengthen the e-commerce platform, Plan to launch new services for customers, Revitalize the Shuppin Points program, Customer services using one-to-one marketing, AI and technology, Expand overseas sales through eBay and Chrono24 in cross-border e-commerce, Strategic investments in human resources, M&A and other areas, Consider opportunistic share repurchases
Items this document does not state (11)
Results for the three months of the current quarterFull-year earnings forecastProgress against full-year forecastSelf-assessment against the planBreakdown of Factors Affecting the ChangeUnit price and quantity metricsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookAnnual DividendOrders 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.

To evolve its unique business model as an e-commerce platform operator, secure stable profits from the camera business, and allocate management resources to the watch business, positioned as a growth area, and rapidly growing cross-border e-commerce.

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.
Medium-Term Management Plan for the Fiscal Year Ending March 2026 | Syuppin Co.,Ltd. (3179) timely disclosure | Komori