Supplementary Explanatory Materials for the Fiscal Year Ending April 2026 Results | BEAUTY GARAGE Inc. (3180) timely disclosure

Worth reading

80Important

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

113.3

Year-on-year revenue growth (%)

Wording

Conditional

How definitive the wording is.

Contents of this document

Supplementary materials to the earnings reportFull fiscal year ending April 2026 (FY2025)15 items taken from the company’s own explanation

Financial Results Figures (The key points of this material are explained below)

Net Sales¥38,197 million+113.3%

Operating profit¥1,518 million+95.2%

Ordinary income¥1,506 million+95.1%

Net income¥932 million +91.5%net income attributable to owners of the parent

Selling, general and administrative expenses¥7,732 million

Gross Profit Margin

Rate24.2

Year-on-year change (points)Down 0.9 percentage points from 25.1% in the previous year

Operating profit margin

Rate4

Year-on-year change (points)Down 0.7 percentage points from 4.7% in the previous year

Results for the three months of the current quarterIn 4Q, quarterly revenue exceeded ¥10 billion for the first time, while quarterly ordinary profit reached a record high. Revenue from the merchandising business was ¥8,183 million in 4Q.

Full-year earnings forecast

Net Sales

¥43,153 million

Operating profit

¥2,217 million

Ordinary income

¥2,200 million

Net income for the current fiscal year

¥1,351 million

What the company explained in this material

Self-assessment against the planThe company's self-assessment against its own plan.

Broadly in line with the earnings forecast. Operating profit was 100.5% of the revised earnings forecast, ordinary profit was 99.6%, and net income was 92.2%.

Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.

Increase in gross profit accompanying higher revenue¥887 million
Store design¥59 million
Solutions¥203 million
Decrease in gross profit due to changes in gross margin (including split shipments)¥-356 million including a ¥230 million impact from Kashiwa FC
Personnel costs (including temporary staffing fees)¥-423 million including a ¥135 million impact from Kashiwa FC
Logistics-related and packaging material costs¥-77 million including a ¥69 million impact from Kashiwa FC
Other (including depreciation)¥-369 million including a ¥149 million impact from Kashiwa FC

Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.

Assumes execution of the growth strategies for each business, control of logistics-related costs and a reduction in the SG&A ratio. Specific figures for exchange rates, raw material prices, volumes and other items are Not disclosed.

New initiatives

Opening of the Kashiwa Fulfillment Center (Kashiwa FC)
Entry into the hot-bath and sauna sector through the acquisition of Sauna Garage (now Spa Garage) as a subsidiary
Entry into the aesthetic medicine sector through the acquisition of Aruku (now Medical Garage) as a subsidiary
Opening of Sapporo and Sendai offices for the store design business
Establishment of BG Build, specializing in construction operations
Launch of the Smart Management Plan
Expansion of Salon.EC adoption
Introduction of PayPay payments on the e-commerce site

Key KPIsA metric the company considers important as a management benchmark.

Active users (YAU)209,536 Accounts
Year on year against the same period last year+109.4%
Loyal users94,598 Accounts
Year on year against the same period last year+111.9%
Registered Salon.EC salon operators3,469 Engagements
Year on year against the same period last year+113.5%
Store lease and sublease contracts375 Location
Year on year against the same period last year+132.5%
Salon insurance contracts15,485 Engagements
Year on year against the same period last year+119.0%
Partner business cards issued6,974 units
Year on year against the same period last year+113.2%
Card payment terminal contracts2,151 Engagements
Year on year against the same period last year+108.7%
Various infrastructure service contracts3,020 Engagements
Year on year against the same period last year+116.6%

Unit price and quantity metricsThese figures show sales broken down by price and volume.

Number of purchasing customers2,226,881 Engagements
Year on year against the same period last year+111.8%
Average customer spend¥12,977
Year on year against the same period last year+101.0%
Annual ARPU¥148,921
Year on year against the same period last year+103.3%
Number of contracted projects (revenue of ¥1 million or more)350 Engagements
Year on year against the same period last year+102.9%
Average project value (revenue of ¥1 million or more)¥11,107 thousand
Year on year against the same period last year+107.9%

Segment results

Retail Business
Net Sales31,193
Year-on-year change in revenue112.5
Segment profit1,249
Year-on-year change in profit100.5
Store design business
Net Sales3,924
Year-on-year change in revenue111.3
Segment profit182
Year-on-year change in profit67
Solutions Business
Net Sales3,078
Year-on-year change in revenue125
Segment profit314
Year-on-year change in profit96.3

Medium-term management plan targets

Medium-Term Management Plan 2025–2029. 350,000 active-user accounts, Salon.EC gross merchandise value of ¥3 billion, 500 contracted store design projects, average project value of ¥12 million, 50 designers, 1,000 store lease and sublease contracts, and a target market capitalization of ¥50 billion.

Financial targets

ROE of at least 15.0% and a target payout ratio of 20.0%. Actual ROE was 11.6% and the actual payout ratio was 21.5%.

Market Size / Share

The current potential market is estimated at approximately ¥630 billion, with the future potential market expected to reach approximately ¥1.45 trillion. The Company’s revenue is approximately ¥33.7 billion, representing a market share of around 5%.

Orders received and order backlog

350 contracted projects, with an average project value of ¥11.107 million. Order intake and order backlog are Not disclosed.

Number of stores and locations

375 store lease and sublease contracts. The store design business opened offices in Sapporo and Sendai, bringing the total to 7 locations nationwide. Kashiwa FC was opened during the fiscal year. The number of stores at period-end and the number of openings and closures across all locations are Not disclosed.

Number of employees

Number of Employees628 People including 425 permanent employees; consolidated, as of the end of April 2026

Change during the periodThe number of designers in the store design business increased by 9 from the previous fiscal year

Annual Dividend

FY2025 annual dividend of ¥16.0 (interim ¥8.0 and year-end ¥8.0). FY2026 forecast annual dividend of ¥18.0 (interim ¥9.0 and year-end ¥9.0).

Payout ratio

FY2025: 21.5%; target payout ratio: 20.0%

Contents of this document
Item	Details
Document type	Supplementary materials to the earnings report
Fiscal Period Covered	Full fiscal year ending April 2026 (FY2025)
Net Sales	¥38,197 million (YoY +113.3%)
Operating profit	¥1,518 million (YoY +95.2%)
Ordinary income	¥1,506 million (YoY +95.1%)
Net income	¥932 million (net income attributable to owners of the parent) (YoY +91.5%)
Gross Profit Margin	Rate 24.2 / Year-on-year change (points) Down 0.9 percentage points from 25.1% in the previous year
Operating profit margin	Rate 4 / Year-on-year change (points) Down 0.7 percentage points from 4.7% in the previous year
Selling, general and administrative expenses	¥7,732 million
Results for the three months of the current quarter	In 4Q, quarterly revenue exceeded ¥10 billion for the first time, while quarterly ordinary profit reached a record high. Revenue from the merchandising business was ¥8,183 million in 4Q.
Full-year earnings forecast	Net Sales ¥43,153 million / Operating profit ¥2,217 million / Ordinary income ¥2,200 million / Net income for the current fiscal year ¥1,351 million
Self-assessment against the plan	Broadly in line with the earnings forecast. Operating profit was 100.5% of the revised earnings forecast, ordinary profit was 99.6%, and net income was 92.2%.
Segment results	Segment Retail Business / Net Sales ¥31,193 million / Year-on-year change in revenue ¥112.5 million / Segment profit ¥1,249 million / Year-on-year change in profit ¥100.5 million, Segment Store design business / Net Sales ¥3,924 million / Year-on-year change in revenue ¥111.3 million / Segment profit ¥182 million / Year-on-year change in profit ¥67 million, Segment Solutions Business / Net Sales ¥3,078 million / Year-on-year change in revenue ¥125 million / Segment profit ¥314 million / Year-on-year change in profit ¥96.3 million
Breakdown of Factors Affecting the Change	Factors Increase in gross profit accompanying higher revenue / Amount ¥887 million, Factors Store design / Amount ¥59 million, Factors Solutions / Amount ¥203 million, Factors Decrease in gross profit due to changes in gross margin (including split shipments) / Amount ¥-356 million (including a ¥230 million impact from Kashiwa FC), Factors Personnel costs (including temporary staffing fees) / Amount ¥-423 million (including a ¥135 million impact from Kashiwa FC), Factors Logistics-related and packaging material costs / Amount ¥-77 million (including a ¥69 million impact from Kashiwa FC), Factors Other (including depreciation) / Amount ¥-369 million (including a ¥149 million impact from Kashiwa FC)
Key KPIs	Indicator name Active users (YAU) / Value 209,536 Accounts / Year on year against the same period last year 109.4 Accounts, Indicator name Loyal users / Value 94,598 Accounts / Year on year against the same period last year 111.9 Accounts, Indicator name Registered Salon.EC salon operators / Value 3,469 Engagements / Year on year against the same period last year 113.5 Engagements, Indicator name Store lease and sublease contracts / Value 375 Location / Year on year against the same period last year 132.5 Location, Indicator name Salon insurance contracts / Value 15,485 Engagements / Year on year against the same period last year 119 Engagements, Indicator name Partner business cards issued / Value 6,974 units / Year on year against the same period last year 113.2 units, Indicator name Card payment terminal contracts / Value 2,151 Engagements / Year on year against the same period last year 108.7 Engagements, Indicator name Various infrastructure service contracts / Value 3,020 Engagements / Year on year against the same period last year 116.6 Engagements
Unit price and quantity metrics	Indicator name Number of purchasing customers / Value 2,226,881 Engagements / Year on year against the same period last year 111.8 Engagements, Indicator name Average customer spend / Value ¥12,977 / Year on year against the same period last year ¥101, Indicator name Annual ARPU / Value ¥148,921 / Year on year against the same period last year ¥103.3, Indicator name Number of contracted projects (revenue of ¥1 million or more) / Value 350 Engagements / Year on year against the same period last year 102.9 Engagements, Indicator name Average project value (revenue of ¥1 million or more) / Value ¥11,107 thousand / Year on year against the same period last year ¥107.9 thousand
Number of stores and locations	375 store lease and sublease contracts. The store design business opened offices in Sapporo and Sendai, bringing the total to 7 locations nationwide. Kashiwa FC was opened during the fiscal year. The number of stores at period-end and the number of openings and closures across all locations are Not disclosed.
Number of employees	Number of Employees 628 People (including 425 permanent employees; consolidated, as of the end of April 2026) / Change during the period The number of designers in the store design business increased by 9 from the previous fiscal year
Assumptions Underlying the Business Outlook	Assumes execution of the growth strategies for each business, control of logistics-related costs and a reduction in the SG&A ratio. Specific figures for exchange rates, raw material prices, volumes and other items are Not disclosed.
Medium-term management plan targets	Medium-Term Management Plan 2025–2029. 350,000 active-user accounts, Salon.EC gross merchandise value of ¥3 billion, 500 contracted store design projects, average project value of ¥12 million, 50 designers, 1,000 store lease and sublease contracts, and a target market capitalization of ¥50 billion.
Financial targets	ROE of at least 15.0% and a target payout ratio of 20.0%. Actual ROE was 11.6% and the actual payout ratio was 21.5%.
Annual Dividend	FY2025 annual dividend of ¥16.0 (interim ¥8.0 and year-end ¥8.0). FY2026 forecast annual dividend of ¥18.0 (interim ¥9.0 and year-end ¥9.0).
Payout ratio	FY2025: 21.5%; target payout ratio: 20.0%
Orders received and order backlog	350 contracted projects, with an average project value of ¥11.107 million. Order intake and order backlog are Not disclosed.
Market Size / Share	The current potential market is estimated at approximately ¥630 billion, with the future potential market expected to reach approximately ¥1.45 trillion. The Company’s revenue is approximately ¥33.7 billion, representing a market share of around 5%.
New initiatives	Opening of the Kashiwa Fulfillment Center (Kashiwa FC), Entry into the hot-bath and sauna sector through the acquisition of Sauna Garage (now Spa Garage) as a subsidiary, Entry into the aesthetic medicine sector through the acquisition of Aruku (now Medical Garage) as a subsidiary, Opening of Sapporo and Sendai offices for the store design business, Establishment of BG Build, specializing in construction operations, Launch of the Smart Management Plan, Expansion of Salon.EC adoption, Introduction of PayPay payments on the e-commerce site

Items this document does not state (5)

Progress against full-year forecastRisk amount incorporated into the outlookAcquisition of treasury sharesCapital expendituresKey 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.

Revenue grew across all businesses, but profit was pressured by upfront investments based on the growth strategy, delays in opening and commencing operations at Kashiwa FC, a decline in gross margin due to split shipments, and higher material and personnel costs. In FY2026, the Company expects to reduce the SG&A ratio by executing the growth strategies of each business and controlling logistics-related costs.

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