Worth reading
86Important
Scored from 5 of 6 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
2
Year-on-year change in revenue (%)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationSecond quarter of the fiscal year ending September 20269 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥7,886 million+2.0%
Operating profit¥269 million
Ordinary income¥249 million
Net income¥211 million
Gross Profit Margin
Rate37.3%
Year-on-year change (points)Down 0.7 percentage points (38.0% in the same period of the previous year)
Operating profit margin
Rate3.4%
Year-on-year change (points)Improved by 4.9 percentage points (−1.5% in the same period of the previous year)
Results for the three months of the current quarter
Net Sales
¥4,063 million
Full-year earnings forecast
Net Sales
¥17,035 million
Gross profit
¥6,430 million
Operating profit
¥352 million
Ordinary income
¥324 million
Interim net income
¥227 million
EBITDA
¥591 million
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Net Sales46.3%
Gross profit45.7%
Operating profit76.3%
Ordinary income76.9%
Interim net income93.2%
EBITDA63.3%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Net sales were slightly behind plan, while operating income was ahead of plan and progressing wellKey points of the Q&AKey questions raised by investors at the briefing and the company's answers
- Assessment of first-half results against plan: revenue was slightly below plan but within a recoverable range, while operating income exceeded plan
- Full-year forecast: left unchanged after incorporating second-half expense execution and uncertainty in the business environment
- Decline in gross margin: higher product costs, lower direct-shipment sales, and differences in accounting treatment compared with inventory sales
- Situation in the Middle East and the Strait of Hormuz: the impact is limited at present, but a prolonged situation could affect prices, delivery dates and lead times
- Changes to major KPIs: in response to changes in the search environment caused by AI, the company shifted its focus from website traffic to social media followers
- Deconsolidation: the sale of a subsidiary resulted in a shift to non-consolidated accounting and had a positive impact on profit levels
- M&A policy: pursuing opportunities with a focus on synergies in market share, intellectual property and human resources
- Shareholder returns: the dividend forecast is undetermined, but the company intends to work to return profits to shareholders
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Increase in gross profit due to higher sales+¥58 million
- Decline in Gross Profit Margin-¥52 million
- Advertising expenses+¥56 million
- Warehouse expenses+¥40 million
- Temporary expenses associated with the head office relocation+¥56 million
- Personnel expenses−¥56 million
- Rent and other expenses-¥29 million
- Depreciation-¥14 million
- Other+¥19 million
New initiatives
- Full-scale entry into the home appliance category and the launch of the “Inviera Built-in Refrigerator”
- Launch of new products, including the full-ceramic kitchen “Geora” and slab tiles
- Introduction of “mirAIs,” a common indicator for measuring the level of AI utilization
- Assignment of the AI employee “Mira Nina” to customer service operations
- Production of a financial results presentation video featuring an AI avatar
- Strengthening social media and content activities and improving operational efficiency through AI
- Pursuit of M&A opportunities with an emphasis on synergies with existing businesses
Key KPIsA metric the company considers important as a management benchmark.
- Key official social media followers and other metrics36.9 10,000 peopleYear on year against the same period last yearIncreased
- Awareness among the general population19.5 %Year on year against the same period last yearIncreased
- Awareness among people considering home purchases or renovations7.9 %Year on year against the same period last yearIncreased
- Number of entries for the Miratap Design Award427 items
- Consecutive years receiving an iF Design Award12 consecutive years
- Cumulative number of iF Design Awards received46 Products
Unit price and quantity metricsThese figures show sales broken down by price and volume.
The company explained that average order value and order frequency increased, but the figures are Not disclosedMedium-term management plan targets
Target valueFY2027 revenue of 170 (as shown in the graph)
Target fiscal yearFY2027
Comparison with actual resultsThe graph compares this with the FY2026 plan of 167
Market Size / Share
Includes a comparison of the annual sales of competitors and growth rates for the home renovation market and new housing starts. Specific market size and market share figures are Not disclosedNumber of employees
Number of Employees285 people
Change during the periodDown 4 people (−1.38%) from the end of the previous fiscal year
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending September 2026 |
| Net Sales | ¥7,886 million (YoY +2.0%) |
| Operating profit | ¥269 million |
| Ordinary income | ¥249 million |
| Net income | ¥211 million |
| Gross Profit Margin | Rate 37.3% / Year-on-year change (points) Down 0.7 percentage points (38.0% in the same period of the previous year) |
| Operating profit margin | Rate 3.4% / Year-on-year change (points) Improved by 4.9 percentage points (−1.5% in the same period of the previous year) |
| Results for the three months of the current quarter | Net Sales ¥4,063 million |
| Full-year earnings forecast | Net Sales ¥17,035 million / Gross profit ¥6,430 million / Operating profit ¥352 million / Ordinary income ¥324 million / Interim net income ¥227 million / EBITDA ¥591 million |
| Progress against full-year forecast | Net Sales 46.3% / Gross profit 45.7% / Operating profit 76.3% / Ordinary income 76.9% / Interim net income 93.2% / EBITDA 63.3% |
| Self-assessment against the plan | Net sales were slightly behind plan, while operating income was ahead of plan and progressing well |
| Breakdown of Factors Affecting the Change | Factors Increase in gross profit due to higher sales / Amount +¥58 million, Factors Decline in Gross Profit Margin / Amount -¥52 million, Factors Advertising expenses / Amount +¥56 million, Factors Warehouse expenses / Amount +¥40 million, Factors Temporary expenses associated with the head office relocation / Amount +¥56 million, Factors Personnel expenses / Amount −¥56 million, Factors Rent and other expenses / Amount -¥29 million, Factors Depreciation / Amount -¥14 million, Factors Other / Amount +¥19 million |
| Key KPIs | Indicator name Key official social media followers and other metrics / Value 36.9 10,000 people / Year on year against the same period last year Increased, Indicator name Awareness among the general population / Value 19.5 % / Year on year against the same period last year Increased, Indicator name Awareness among people considering home purchases or renovations / Value 7.9 % / Year on year against the same period last year Increased, Indicator name Number of entries for the Miratap Design Award / Value 427 items / Year on year against the same period last year Not disclosed, Indicator name Consecutive years receiving an iF Design Award / Value 12 consecutive years / Year on year against the same period last year Not disclosed, Indicator name Cumulative number of iF Design Awards received / Value 46 Products / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | The company explained that average order value and order frequency increased, but the figures are Not disclosed |
| Number of employees | Number of Employees 285 people / Change during the period Down 4 people (−1.38%) from the end of the previous fiscal year / Hiring plan Not disclosed |
| Medium-term management plan targets | Target value FY2027 revenue of 170 (as shown in the graph) / Target fiscal year FY2027 / Comparison with actual results The graph compares this with the FY2026 plan of 167 |
| Market Size / Share | Includes a comparison of the annual sales of competitors and growth rates for the home renovation market and new housing starts. Specific market size and market share figures are Not disclosed |
| Key points of the Q&A | Assessment of first-half results against plan: revenue was slightly below plan but within a recoverable range, while operating income exceeded plan, Full-year forecast: left unchanged after incorporating second-half expense execution and uncertainty in the business environment, Decline in gross margin: higher product costs, lower direct-shipment sales, and differences in accounting treatment compared with inventory sales, Situation in the Middle East and the Strait of Hormuz: the impact is limited at present, but a prolonged situation could affect prices, delivery dates and lead times, Changes to major KPIs: in response to changes in the search environment caused by AI, the company shifted its focus from website traffic to social media followers, Deconsolidation: the sale of a subsidiary resulted in a shift to non-consolidated accounting and had a positive impact on profit levels, M&A policy: pursuing opportunities with a focus on synergies in market share, intellectual property and human resources, Shareholder returns: the dividend forecast is undetermined, but the company intends to work to return profits to shareholders |
| New initiatives | Full-scale entry into the home appliance category and the launch of the “Inviera Built-in Refrigerator”, Launch of new products, including the full-ceramic kitchen “Geora” and slab tiles, Introduction of “mirAIs,” a common indicator for measuring the level of AI utilization, Assignment of the AI employee “Mira Nina” to customer service operations, Production of a financial results presentation video featuring an AI avatar, Strengthening social media and content activities and improving operational efficiency through AI, Pursuit of M&A opportunities with an emphasis on synergies with existing businesses |
Items this document does not state (11)
Selling, general and administrative expensesSegment resultsNumber of stores and locationsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlog
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.The increase in average order value and order frequency, particularly among loyal customers; the absence of the large advertising investment related to the corporate name change and one-time costs associated with the warehouse and head office relocations incurred in the previous year; and the efficient execution of SG&A expenses following a detailed review of cost effectiveness.
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.