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Earnings presentation3377BIKE O & COMPANY Ltd.Trading & Wholesale

Financial Results Presentation Materials for the Third Quarter of the Fiscal Year Ending November 2026

Raised its full-year earnings forecast for the fiscal year ending November 2026. While the increase in revenue is expected to be modest, profit forecasts were raised substantially, reflecting the recovery in unit sales, the sustained high levels of vehicle unit prices and gross profit per vehicle, and improvements in the cost ratio.

Worth reading
65In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
150
¥ million (increase in operating income forecast)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationThird quarter of the fiscal year ending November 202615 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥29,124 million+2.5%
Operating profit¥838 million+60.1%
Ordinary income¥1,100 million+57.4%
Net income¥793 million+119.8%
Gross Profit Margin35
Operating profit margin2.9
Selling, general and administrative expenses¥9,349 million
Results for the three months of the current quarterRevenue: ¥10,611 million; operating profit: ¥267 million; ordinary profit: ¥424 million (FY2026 third quarter, three months)
Full-year earnings forecast
Net Sales
¥38,800 million
Operating profit
¥860 million
Ordinary income
¥1,150 million
Profit attributable to owners of the parent
¥750 million
Earnings per share
¥52.41
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Profitability is strengthening ahead of the original assumptions, providing a solid start toward the second year and beyond of the medium-term vision.
Key points of the Q&AKey questions raised by investors at the briefing and the company's answers
  1. Quarterly seasonality: the first quarter is the off-season, while the second and third quarters are busy periods.
  2. Payback on advertising investment: FY2026 is a year of upfront investment, with higher customer LTV expected to contribute progressively to performance from FY2027 onward.
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Gross profit
Number of systems¥35 million
Unit price¥480 million
Other¥44 million
Total¥560 million
Wholesale Sales
Number of systems¥77 million
Unit price¥643 million
Retail revenue
Number of systems¥18 million
Unit price¥193 million
Selling, general and administrative expenses
Selling Expenses¥263 million
Personnel Expenses¥141 million
Administrative expenses¥-159 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Optimization of the sales mix, use of DX and CRM, productivity improvements, cost management, and management of strategic investments. Numerical assumptions: Not disclosed
New initiatives
  • Launched トクテコ, an online retail brand specializing in micromobility.
  • Television commercials, transit advertising and PR initiatives using the バリバリ伝説 intellectual property
  • Rolled out electronic purchase certificates across all stores
  • Established a sales training system using AI role-playing
Key KPIsA metric the company considers important as a management benchmark.
  • Gross margin35 %
    Year on year against the same period last year+1.1%
  • Operating margin2.9 %
    Year on year against the same period last year+1.1%
  • Ordinary income margin3.8 %
    Year on year against the same period last year+1.3%
  • ROE10.8 %
    Year on year against the same period last year+5.4%
  • Retail unit sales ratio25.5 %
    Year on year against the same period last year-0.1%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Unit salesUp 0.4% year on year
  • Vehicle selling price per unitUp 3.1% year on year
  • Average gross profit per vehicleUp 4.8% year on year
  • Wholesale unit salesUp 0.5% year on year
  • Wholesale vehicle selling priceUp 4.3% year on year
  • Retail unit salesUp 0.2% year on year
  • Retail vehicle selling priceUp 1.7% year on year
Segment results
Wholesale
Net Sales¥15,639 million
Year on year against the same period last year+4.8%
Retail
Net Sales¥11,496 million
Year on year against the same period last year+1.9%
Other
Net Sales¥1,988 million
Year on year against the same period last year-10.0%
Medium-term management plan targets
Target fiscal yearFY2028 (fiscal year ending November 2028)
Net Sales¥40 billion
Ordinary income¥1.6 billion
ROE12.0% or more
Ordinary profit per employee¥1.34 million
Advertising ROI300%
Payout ratioMaintain at 30%
Financial targets
ROE
TargetFY2028: 12% or more
FY2025 actual4.8%
FY2026 Third-Quarter Results10.8%
Market Size / Share
Units in operation2025: 6.18 million units over 50cc
New Vehicle Sales (Shipments), Units2025: 230,000 new units sold (shipped), over 50cc
Auction market2025: 355,000 units listed, 301,000 units sold, 84.5% sale rate
Number of stores and locations
Number at period-end85 stores (as of 5 October 2026)
Number of store openings and closures during the period2 new store openings. Motorcycle business: 77 stores; other businesses: 8 stores
Number of employees
Number of Employees998 people
Change during the periodDown 30 people year on year
Annual Dividend
Annual dividend per share¥11 (forecast)
Interim¥5.5
End of period¥5.5 (forecast)
Payout ratio
21.0% (FY2026 forecast)
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredThird quarter of the fiscal year ending November 2026
Net Sales¥29,124 million (YoY +2.5%)
Operating profit¥838 million (YoY +60.1%)
Ordinary income¥1,100 million (YoY +57.4%)
Net income¥793 million (YoY +119.8%)
Gross Profit Margin35
Operating profit margin2.9
Selling, general and administrative expenses¥9,349 million
Results for the three months of the current quarterRevenue: ¥10,611 million; operating profit: ¥267 million; ordinary profit: ¥424 million (FY2026 third quarter, three months)
Full-year earnings forecastNet Sales ¥38,800 million / Operating profit ¥860 million / Ordinary income ¥1,150 million / Profit attributable to owners of the parent ¥750 million / Earnings per share ¥52.41
Self-assessment against the planProfitability is strengthening ahead of the original assumptions, providing a solid start toward the second year and beyond of the medium-term vision.
Segment resultsWholesale Net Sales ¥15,639 million / Year on year against the same period last year ¥4.8 million / Retail Net Sales ¥11,496 million / Year on year against the same period last year ¥1.9 million / Other Net Sales ¥1,988 million / Year on year against the same period last year ¥-10 million / Segment profit Not disclosed
Breakdown of Factors Affecting the ChangeGross profit Number of systems ¥35 million / Unit price ¥480 million / Other ¥44 million / Total ¥560 million / Wholesale Sales Number of systems ¥77 million / Unit price ¥643 million / Retail revenue Number of systems ¥18 million / Unit price ¥193 million / Selling, general and administrative expenses Selling Expenses ¥263 million / Personnel Expenses ¥141 million / Administrative expenses ¥-159 million
Key KPIsIndicator name Gross margin / Value 35 % / Year on year against the same period last year 1.1 %, Indicator name Operating margin / Value 2.9 % / Year on year against the same period last year 1.1 %, Indicator name Ordinary income margin / Value 3.8 % / Year on year against the same period last year 1.3 %, Indicator name ROE / Value 10.8 % / Year on year against the same period last year 5.4 %, Indicator name Retail unit sales ratio / Value 25.5 % / Year on year against the same period last year -0.1 %
Unit price and quantity metricsIndicator name Unit sales / Value Up 0.4% year on year, Indicator name Vehicle selling price per unit / Value Up 3.1% year on year, Indicator name Average gross profit per vehicle / Value Up 4.8% year on year, Indicator name Wholesale unit sales / Value Up 0.5% year on year, Indicator name Wholesale vehicle selling price / Value Up 4.3% year on year, Indicator name Retail unit sales / Value Up 0.2% year on year, Indicator name Retail vehicle selling price / Value Up 1.7% year on year
Number of stores and locationsNumber at period-end 85 stores (as of 5 October 2026) / Number of store openings and closures during the period 2 new store openings. Motorcycle business: 77 stores; other businesses: 8 stores
Number of employeesNumber of Employees 998 people / Change during the period Down 30 people year on year / Hiring plan Not disclosed
Assumptions Underlying the Business OutlookOptimization of the sales mix, use of DX and CRM, productivity improvements, cost management, and management of strategic investments. Numerical assumptions: Not disclosed
Medium-term management plan targetsTarget fiscal year FY2028 (fiscal year ending November 2028) / Net Sales ¥40 billion / Ordinary income ¥1.6 billion / ROE 12.0% or more / Ordinary profit per employee ¥1.34 million / Advertising ROI 300% / Payout ratio Maintain at 30%
Financial targetsROE Target FY2028: 12% or more / FY2025 actual 4.8% / FY2026 Third-Quarter Results 10.8%
Annual DividendAnnual dividend per share ¥11 (forecast) / Interim ¥5.5 / End of period ¥5.5 (forecast)
Payout ratio21.0% (FY2026 forecast)
Market Size / ShareUnits in operation 2025: 6.18 million units over 50cc / New Vehicle Sales (Shipments), Units 2025: 230,000 new units sold (shipped), over 50cc / Auction market 2025: 355,000 units listed, 301,000 units sold, 84.5% sale rate / Share Not disclosed
Key points of the Q&AQuarterly seasonality: the first quarter is the off-season, while the second and third quarters are busy periods., Payback on advertising investment: FY2026 is a year of upfront investment, with higher customer LTV expected to contribute progressively to performance from FY2027 onward.
New initiativesLaunched トクテコ, an online retail brand specializing in micromobility., Television commercials, transit advertising and PR initiatives using the バリバリ伝説 intellectual property, Rolled out electronic purchase certificates across all stores, Established a sales training system using AI role-playing
Items this document does not state (5)
Progress against full-year forecastRisk amount incorporated into the outlookAcquisition 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.

Continued strength in auction prices, stabilization of the procurement base through expanded customer touchpoints and stronger sales capabilities, recovery in wholesale unit sales, sustained high levels of vehicle revenue per unit and average gross profit per vehicle, and improved retail profitability through enhancements to inventory management and sales processes. The fourth-quarter forecast incorporates uncertainty in the external environment and investments aimed at future 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.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Financial Results Presentation Materials for the Third Quarter of the Fiscal Year Ending November 2026 | BIKE O & COMPANY Ltd. (3377) timely disclosure | Komori