Worth reading
69In focus
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
2
% (year-on-year change in revenue)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results 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 Margin37.3%
Operating profit margin3.4%
Results for the three months of the current quarter
Net Sales
¥4,063 million
Gross profit
¥1,527 million
Operating profit
¥269 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
- First-half results were assessed as slightly below plan but recoverable for net sales, and as progressing well and above plan for operating income.
- Although operating income was progressing at a high rate, the full-year forecast was left unchanged after taking second-half expense execution and the business environment into account.
- The decline in the gross profit margin was due to higher product costs and a decrease in direct-shipment sales.
- The current impact of the situation in the Middle East and around the Strait of Hormuz is limited, but prolonged disruption could affect prices, delivery dates and lead times.
- The disclosure of site traffic was reviewed, and the customer base is now visualized using the number of official social media followers.
- Following the sale of a subsidiary, the Company transitioned to non-consolidated financial statements. As the subsidiary recorded a loss in the previous fiscal year, the sale had a positive impact on profit levels.
- M&A initiatives are being pursued with a focus on synergies in market share, intellectual property and human resources.
- The dividend forecast has not been determined, and 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
- Decrease in gross profit due to a lower 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-¥29 million
- Rent and other expenses-¥14 million
- Depreciation-¥19 million
- Other+¥19 million
New initiatives
- Production and release of a financial results presentation video using an AI avatar
- Assignment of the AI employee “Mira Nina” to customer service operations
- Introduction of “mirAIs,” a common metric for measuring all employees’ ability to use AI
- Full-scale entry into the home appliance category and launch of built-in refrigerators
- Launch of new products, including the full-ceramic kitchen “Geora” and slab tiles
- Beginning sales of selected products on Amazon
Key KPIsA metric the company considers important as a management benchmark.
- Key official social media followers and other metrics36.9 10,000 people
- Instagram followers20 10,000 people
- TikTok followers1.5 10,000 people
- Awareness among the general population19.5 %
- Awareness among people considering purchasing a home7.9 %
- Ranking among Japanese design award-winning companies19 th place out of 855 companies
- Ranking among Asian design award-winning companies95 th place out of 7,899 companies
- Consecutive years receiving design awards12 consecutive years
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Average order valueIncreased
- Order frequencyIncreased
- Customer BaseGrowth remains a challenge
Medium-term management plan targets
TargetFY2027 net sales of ¥17 billion
Target fiscal yearFY2027 (fiscal year ending September 2027)
Market Size / Share
Competitive comparisonLists the annual sales of competitors, including the Company's annual sales of ¥16.7 billion
Number of employees
Number of Employees285 people
Change during the periodDown 4 people from the end of the previous fiscal year (-1.38%)
Contract employees48 people
Temporary staff11 people
| Item | Details |
|---|---|
| Document type | Financial results 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 | 37.3% |
| Operating profit margin | 3.4% |
| Results for the three months of the current quarter | Net Sales ¥4,063 million / Gross profit ¥1,527 million / Operating profit ¥269 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 Decrease in gross profit due to a lower 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 -¥29 million, Factors Rent and other expenses / Amount -¥14 million, Factors Depreciation / Amount -¥19 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 Not disclosed, Indicator name Instagram followers / Value 20 10,000 people / Year on year against the same period last year Not disclosed, Indicator name TikTok followers / Value 1.5 10,000 people / Year on year against the same period last year Not disclosed, Indicator name Awareness among the general population / Value 19.5 % / Year on year against the same period last year Not disclosed, Indicator name Awareness among people considering purchasing a home / Value 7.9 % / Year on year against the same period last year Not disclosed, Indicator name Ranking among Japanese design award-winning companies / Value 19 th place (out of 855 companies) / Year on year against the same period last year Not disclosed, Indicator name Ranking among Asian design award-winning companies / Value 95 th place (out of 7,899 companies) / Year on year against the same period last year Not disclosed, Indicator name Consecutive years receiving design awards / Value 12 consecutive years / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Indicator name Average order value / Value Increased / Year on year against the same period last year Not disclosed, Indicator name Order frequency / Value Increased / Year on year against the same period last year Not disclosed, Indicator name Customer Base / Value Growth remains a challenge / Year on year against the same period last year Not disclosed |
| Number of employees | Number of Employees 285 people / Change during the period Down 4 people from the end of the previous fiscal year (-1.38%) / Contract employees 48 people / Temporary staff 11 people |
| Medium-term management plan targets | Target FY2027 net sales of ¥17 billion / Target fiscal year FY2027 (fiscal year ending September 2027) |
| Market Size / Share | Market Size Not disclosed / Share Not disclosed / Competitive comparison Lists the annual sales of competitors, including the Company's annual sales of ¥16.7 billion |
| Key points of the Q&A | First-half results were assessed as slightly below plan but recoverable for net sales, and as progressing well and above plan for operating income., Although operating income was progressing at a high rate, the full-year forecast was left unchanged after taking second-half expense execution and the business environment into account., The decline in the gross profit margin was due to higher product costs and a decrease in direct-shipment sales., The current impact of the situation in the Middle East and around the Strait of Hormuz is limited, but prolonged disruption could affect prices, delivery dates and lead times., The disclosure of site traffic was reviewed, and the customer base is now visualized using the number of official social media followers., Following the sale of a subsidiary, the Company transitioned to non-consolidated financial statements. As the subsidiary recorded a loss in the previous fiscal year, the sale had a positive impact on profit levels., M&A initiatives are being pursued with a focus on synergies in market share, intellectual property and human resources., The dividend forecast has not been determined, and the Company intends to work to return profits to shareholders. |
| New initiatives | Production and release of a financial results presentation video using an AI avatar, Assignment of the AI employee “Mira Nina” to customer service operations, Introduction of “mirAIs,” a common metric for measuring all employees’ ability to use AI, Full-scale entry into the home appliance category and launch of built-in refrigerators, Launch of new products, including the full-ceramic kitchen “Geora” and slab tiles, Beginning sales of selected products on Amazon |
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.In the previous corresponding period, the Company incurred temporary advertising and promotional expenses, relocation costs and duplicate rent payments associated with its corporate name change and the relocation of its head office and warehouse, whereas these expenses declined in the current period. On the revenue side, growth in the average order value and order frequency of loyal customers, together with the response to new products, contributed to results. Personnel expenses, rent and depreciation increased.
How to read this page
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