Worth reading
50Recurring
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
62.6
% (year-on-year decrease in operating income)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Annual updateNet Sales+0.0%
基準 2,026Target2,027100 million
Operating profit+0.0%
基準 2,026Target2,027100 million
Operating profit margin+1.0pt
基準 2,027Target2,028% (excluding new stores)
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
Net income for the current fiscal yearNot disclosed → ¥40 million (forecast for the fiscal year ending March 2027)（-88.1% (year on year)）
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planNet sales of ¥11,420 million and operating income of ¥650 million (revised targets for the fiscal year ended March 2026) → Net sales of ¥11,421 million and operating income of ¥722 million (actual for the fiscal year ended March 2026)（Net sales: 100%; operating income: 111%）+0.0%Calculated from the two disclosed figures
Total investment plan¥328 million (the full amount of funds raised at listing; total investment for the entire planning period: Not disclosed)
Investment amount by sectorField Funds for new Pilates K store openings in the fiscal year ended March 2026 / Amount ¥328 million
Key initiatives
01Short-term growth strategy 1: Accelerate Pilates K store openings
02Short-term growth strategy 2: Strengthen merchandise sales
03Launch the F3 business
04Overseas Expansion
05HR Business
06Accelerate new store openings
07Increase customer lifetime value
08Expand the new HR business
Plan assumptionsWhile the Tokyo metropolitan and Kinki regions are becoming saturated, regional cities offer room for further store openings, Open stores primarily in regional cities where it is difficult for competitors to enter, The market for seniors will expand as healthy life expectancy increases
Segment targetSegment pilates K / Target Open 68 stores in the next fiscal year, Segment HR and training businesses / Sales Target ¥100 million / Operating profit target ¥50 million / Timing FY3/27
Non-financial targetsIndicator Number of new stores / Target 71 stores (including 68 Pilates K stores) / Timing FY3/27, Indicator Number of hires / Target At least 500 per year / Timing FY3/27
Size of the Target MarketThe total market is ¥556.5 billion, including ¥213.7 billion for boutique-style businesses and similar formats (38.4%). The U.S. Pilates and yoga market has reached $19 billion–$20 billion. Sources include IBISWorld's “Pilates & Yoga Studios in the US - Market Size (2005–2031)” for the U.S. market, and the Nikkei MJ Service Industry Survey, Teikoku Databank and financial materials from individual companies for the Japanese market.
Risks identified by the company
Market conditions and competition
Information security
Infectious diseases
Impairment and valuation losses, among other matters
Personal information
Securing and developing human resources
Reason for revision or withdrawal
The proportion of free customer acquisition declined and sales decreased as competitors accelerated store openings and strengthened paid advertising in the Pilates market. In addition, the company pursued a strategy of industry consolidation through further aggressive investment to establish market share. As a result, customer acquisition was strengthened, but advertising expenses increased.
| Item | Details |
|---|---|
| Plan name | Business Plan and Growth Potential |
| Plan period | Fiscal years ending March 2027 to March 2028 (the operating income target is stated for the fiscal year ending March 2028) |
| Progress against the plan | Annual update |
| Sales Target | ¥11.42 billion (actual for the fiscal year ended March 2026) → ¥14.57 billion (forecast for the fiscal year ending March 2027)（+27.6%） |
| Operating profit target | ¥722 million (actual for the fiscal year ended March 2026) → ¥270 million (forecast for the fiscal year ending March 2027)（△62.6%） |
| Operating profit margin target | 11.0% (fiscal year ending March 2027, excluding new stores) → 12% or higher (fiscal year ending March 2028, excluding new stores) |
| Net income target | Not disclosed → ¥40 million (forecast for the fiscal year ending March 2027)（-88.1% (year on year)） |
| Total investment plan | ¥328 million (the full amount of funds raised at listing; total investment for the entire planning period: Not disclosed) |
| Investment amount by sector | Field Funds for new Pilates K store openings in the fiscal year ended March 2026 / Amount ¥328 million |
| Segment target | Segment pilates K / Target Open 68 stores in the next fiscal year, Segment HR and training businesses / Sales Target ¥100 million / Operating profit target ¥50 million / Timing FY3/27 |
| Non-financial targets | Indicator Number of new stores / Target 71 stores (including 68 Pilates K stores) / Timing FY3/27, Indicator Number of hires / Target At least 500 per year / Timing FY3/27 |
| Plan assumptions | While the Tokyo metropolitan and Kinki regions are becoming saturated, regional cities offer room for further store openings, Open stores primarily in regional cities where it is difficult for competitors to enter, The market for seniors will expand as healthy life expectancy increases |
| Key initiatives | Short-term growth strategy 1: Accelerate Pilates K store openings, Short-term growth strategy 2: Strengthen merchandise sales, Launch the F3 business, Overseas Expansion, HR Business, Accelerate new store openings, Increase customer lifetime value, Expand the new HR business |
| Results under the previous plan | Net sales of ¥11,420 million and operating income of ¥650 million (revised targets for the fiscal year ended March 2026) → Net sales of ¥11,421 million and operating income of ¥722 million (actual for the fiscal year ended March 2026)（Net sales: 100%; operating income: 111%） |
| Reason for revision or withdrawal | The proportion of free customer acquisition declined and sales decreased as competitors accelerated store openings and strengthened paid advertising in the Pilates market. In addition, the company pursued a strategy of industry consolidation through further aggressive investment to establish market share. As a result, customer acquisition was strengthened, but advertising expenses increased. |
| Size of the Target Market | The total market is ¥556.5 billion, including ¥213.7 billion for boutique-style businesses and similar formats (38.4%). The U.S. Pilates and yoga market has reached $19 billion–$20 billion. Sources include IBISWorld's “Pilates & Yoga Studios in the US - Market Size (2005–2031)” for the U.S. market, and the Nikkei MJ Service Industry Survey, Teikoku Databank and financial materials from individual companies for the Japanese market. |
| Risks identified | Market conditions and competition, Information security, Infectious diseases, Impairment and valuation losses, among other matters, Personal information, Securing and developing human resources |
| Publication date | 30 June 2026 |
Items this document does not state (7)
ROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceDate of board resolution
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 fiscal year ending March 2028 and beyond is positioned as a strategic investment phase aimed at expanding profit, with aggressive store openings and substantial advertising expenditures to continue. For the previous fiscal year, the company stated that the proportion of free customer acquisition declined as competitors accelerated store openings and strengthened paid advertising in the Pilates market, and that advertising expenses increased because the company also made aggressive investments to establish market share.
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.