Worth reading
40Recurring
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
27
Year-on-year increase (%)Wording
Avoiding a definitive answer
How definitive the wording is.Contents of this document
Summary of Q&AFiscal year ended August 2026, full year7 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Gross Profit Margin72 Approximately %
Results for the three months of the current quarter
Recovery Wear revenueUp 27% year on year
SLEEP category revenueApproximately 3x year on year
Full-year earnings forecast
SLEEP category revenue
60～75.5
yoyUp 78% to 124% versus the previous fiscal year
What the company explained in this material
Key points of the Q&AKey questions raised by investors at the briefing and the company's answers
- Factors behind the lower fourth-quarter growth rate for recovery wear and room for further growth
- Growth drivers for the SLEEP category and the 2031 target
- Reasons for presenting the fiscal year ending August 2027 earnings forecast as a range
- Objectives of brand investment and how results will be evaluated
- Quarterly outlook for sales, profit and advertising expenses
- Inventory growth and the risk of inventory valuation losses
- Reasons for setting the medium-term management plan’s operating margin at around 11.5%
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Recovery Wear market growth rateAround 10% per year on average
Sales mix excluding Recovery Wear for the fiscal year ending August 2031Over 50%
New initiatives
- Developing new products, including pillows and mattresses, in the SLEEP category
- Expanding the areas covered by mass promotions
- Expanding sales channels, including directly operated stores
- Flexibly reallocating brand investment advertising among categories during the fiscal year
Key KPIsA metric the company considers important as a management benchmark.
BAKUNE awareness rate
28.1 %
Duvet NPS
37.7
Year on year against the same period last year12.5 percentage points above recovery wear
Recovery Wear NPS
25.2
Athlete satisfaction with duvets
100 %
Year on year against the same period last year2.3 percentage points above recovery wear
Gross margin after advertising expenses
44 %
Segment results
Recovery wear
Year on year against the same period last yearFourth quarter: up 27% year on year
SLEEP category
Revenue for the fiscal year ending August 2024
¥3.7 100 million
Revenue for the fiscal year ending August 2025
¥12.8 100 million
Revenue for the fiscal year ending August 2026
¥33.7 100 million
Fourth-quarter year-on-year changeApproximately 3x
Medium-term management plan targets
Net Sales
¥1,000 100 million
Target fiscal yearFiscal year ending August 2031
SLEEP category revenue
¥300 100 million
Target fiscal yearFiscal year ending August 2031
Operating profit margin
11.5 Approximately %
Target fiscal yearMid-term management plan period
Long-term operating margin targetOver 15%
Market Size / Share
Domestic bedding market size
¥7,700 100 million
SLEEP category target market shareApproximately 4%
| Item | Details |
|---|---|
| Document type | Summary of Q&A |
| Fiscal Period Covered | Fiscal year ended August 2026, full year |
| Gross Profit Margin | 72 Approximately % |
| Results for the three months of the current quarter | Recovery Wear revenue Up 27% year on year / SLEEP category revenue Approximately 3x year on year |
| Full-year earnings forecast | SLEEP category revenue 60～75.5 |
| Segment results | Recovery wear Net Sales Not disclosed / Year on year against the same period last year Fourth quarter: up 27% year on year / SLEEP category Revenue for the fiscal year ending August 2024 ¥3.7 100 million / Revenue for the fiscal year ending August 2025 ¥12.8 100 million / Revenue for the fiscal year ending August 2026 ¥33.7 100 million / Fourth-quarter year-on-year change Approximately 3x |
| Key KPIs | BAKUNE awareness rate 28.1 % / Duvet NPS 37.7 / Recovery Wear NPS 25.2 / Athlete satisfaction with duvets 100 % / Gross margin after advertising expenses 44 % |
| Assumptions Underlying the Business Outlook | Recovery Wear market growth rate Around 10% per year on average / Sales mix excluding Recovery Wear for the fiscal year ending August 2031 Over 50% |
| Medium-term management plan targets | Net Sales ¥1,000 100 million / SLEEP category revenue ¥300 100 million / Operating profit margin 11.5 Approximately % / Long-term operating margin target Over 15% |
| Market Size / Share | Domestic bedding market size ¥7,700 100 million / SLEEP category target market share Approximately 4% |
| Key points of the Q&A | Factors behind the lower fourth-quarter growth rate for recovery wear and room for further growth, Growth drivers for the SLEEP category and the 2031 target, Reasons for presenting the fiscal year ending August 2027 earnings forecast as a range, Objectives of brand investment and how results will be evaluated, Quarterly outlook for sales, profit and advertising expenses, Inventory growth and the risk of inventory valuation losses, Reasons for setting the medium-term management plan’s operating margin at around 11.5% |
| New initiatives | Developing new products, including pillows and mattresses, in the SLEEP category, Expanding the areas covered by mass promotions, Expanding sales channels, including directly operated stores, Flexibly reallocating brand investment advertising among categories during the fiscal year |
Items this document does not state (19)
Net SalesOperating profitOrdinary incomeNet incomeOperating profit marginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planBreakdown of Factors Affecting the ChangeUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk 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 pace of acquiring new customers in the core target segment for recovery wear has begun to moderate, while the market is shifting from a phase of rapid expansion toward a phase of stable growth.
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.