Contents of this document
Financial results presentationFY2027/3 Q213 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥6,784 million+29.2%
Operating profit¥-123 million
Ordinary income¥-183 million
Net income¥-199 million
Gross Profit Margin32.8
Operating profit margin-1.8
Selling, general and administrative expenses¥2,346 million
Results for the three months of the current quarter
Net Sales
¥3,593 million
Gross profit
¥1,208 million
Operating profit
¥102 million
Number of stores
16 stores
Full-year earnings forecast
Net Sales
¥14,570 million
Gross profit
¥5,039 million
Selling, general and administrative expenses
¥4,768 million
Operating profit
¥270 million
Ordinary income
¥150 million
Net income for the current fiscal year
¥40 million
Earnings per share
¥3.09
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 Sales46.6
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue fell ¥40 million short of plan, while operating profit exceeded plan by ¥110 millionBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Operating profit for the first half of FY3/26¥44 million
- Stores opened by FY3/25¥535 million
- Stores opened in the fiscal year ended March 2026¥454 million
- Stores opened in FY3/27¥-63 million
- Business division costs¥-21 million
- New-store opening costs¥-828 million
- Other businesses, head office costs and other expenses
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Planned Pilates store openings in the second half18 stores
New initiatives
- Opening 18 Pilates K stores during the second half, mainly in regional cities
- Obtaining an official HYROX license for REDY’S GYM and rolling out HYROX classes
- Launching 3 new courses in the HR business
- Launching ELL, a community for female business owners and managers, in the second half
- Launching a premium membership service
- Introducing BELMISE compression leggings
Key KPIsA metric the company considers important as a management benchmark.
- Member retention rate96.6 %
- Merchandise revenue¥541 millionYear on year against the same period last year+39.0%
- Monthly customer acquisitionYear on year against the same period last year+57.0%
- Customer acquisition cost1.3 Year-on-year monthly multiple
- Proportion of members on long-term plans76.2 %
- Number of companies provided with onboarding training by the HR business133 companies
- LTV/CAC ratio9.6 times
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Average customer spend
¥1.3 10,000
Average retention period
23.5 months
LTV
¥29.6 10,000
CAC
¥3.1 10,000
Medium-term management plan targets
Operating profit for the fiscal year ending March 2028>=¥1 billion
Existing-store operating profit for the fiscal year ending March 2028>=¥2 billion
Financial targets
ROE
First-half results for the fiscal year ending March 2027-9.2 %
Debt-to-equity ratio
First-half results for the fiscal year ending March 20272.4 times
NetDebt/EBITDA
First-half results for the fiscal year ending March 202723.9 times
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
Impact of the closure of the loIve Yatsushiro store due to the Kumamoto Earthquake¥8.6 million
Market Size / Share
The company explained that it plans to expand its market share and provided a comparison of store openings by competitors, but specific figures for market size and share were Not disclosedNumber of stores and locations
Number of Stores at Period-End251 stores
Stores opened during the period52 stores
Number of employees
New hires386 people
BreakdownTotal of the number of new graduates joining in April 2026 and the number of mid-career employees hired as of the end of September 2026
Hiring plan
New graduates200 people
Mid-career322 people
Capital expenditures
35〜45initial store investment
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | FY2027/3 Q2 |
| Net Sales | ¥6,784 million (YoY +29.2%) |
| Operating profit | ¥-123 million |
| Ordinary income | ¥-183 million |
| Net income | ¥-199 million |
| Gross Profit Margin | 32.8 |
| Operating profit margin | -1.8 |
| Selling, general and administrative expenses | ¥2,346 million |
| Results for the three months of the current quarter | Net Sales ¥3,593 million / Gross profit ¥1,208 million / Operating profit ¥102 million / Number of stores 16 stores |
| Full-year earnings forecast | Net Sales ¥14,570 million / Gross profit ¥5,039 million / Selling, general and administrative expenses ¥4,768 million / Operating profit ¥270 million / Ordinary income ¥150 million / Net income for the current fiscal year ¥40 million / Earnings per share ¥3.09 |
| Progress against full-year forecast | Net Sales 46.6 / Operating profit Not disclosed / Ordinary income Not disclosed / Net income for the current fiscal year Not disclosed |
| Self-assessment against the plan | Revenue fell ¥40 million short of plan, while operating profit exceeded plan by ¥110 million |
| Breakdown of Factors Affecting the Change | Factors Operating profit for the first half of FY3/26 / Amount ¥44 million, Factors Stores opened by FY3/25 / Amount ¥535 million, Factors Stores opened in the fiscal year ended March 2026 / Amount ¥454 million, Factors Stores opened in FY3/27 / Amount ¥-63 million, Factors Business division costs / Amount ¥-21 million, Factors New-store opening costs / Amount ¥-828 million, Factors Other businesses, head office costs and other expenses / Amount Not disclosed |
| Key KPIs | Indicator name Member retention rate / Value 96.6 % / Year on year against the same period last year Not disclosed, Indicator name Merchandise revenue / Value ¥541 million / Year on year against the same period last year ¥39 million, Indicator name Monthly customer acquisition / Value Not disclosed / Year on year against the same period last year 57 57% increase year on year, Indicator name Customer acquisition cost / Value 1.3 Year-on-year monthly multiple / Year on year against the same period last year Not disclosed, Indicator name Proportion of members on long-term plans / Value 76.2 % / Year on year against the same period last year Not disclosed, Indicator name Number of companies provided with onboarding training by the HR business / Value 133 companies / Year on year against the same period last year Not disclosed, Indicator name LTV/CAC ratio / Value 9.6 times / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Average customer spend ¥1.3 10,000 / Average retention period 23.5 months / LTV ¥29.6 10,000 / CAC ¥3.1 10,000 |
| Number of stores and locations | Number of Stores at Period-End 251 stores / Stores opened during the period 52 stores / Stores closed during the period Not disclosed |
| Number of employees | New hires 386 people / Breakdown Total of the number of new graduates joining in April 2026 and the number of mid-career employees hired as of the end of September 2026 / Hiring plan New graduates 200 people / Mid-career 322 people |
| Assumptions Underlying the Business Outlook | Planned Pilates store openings in the second half 18 stores |
| Risk amount incorporated into the outlook | Impact of the closure of the loIve Yatsushiro store due to the Kumamoto Earthquake ¥8.6 million |
| Medium-term management plan targets | Operating profit for the fiscal year ending March 2028 >=¥1 billion / Existing-store operating profit for the fiscal year ending March 2028 >=¥2 billion |
| Financial targets | ROE First-half results for the fiscal year ending March 2027 -9.2 % / Debt-to-equity ratio First-half results for the fiscal year ending March 2027 2.4 times / NetDebt/EBITDA First-half results for the fiscal year ending March 2027 23.9 times |
| Capital expenditures | 35〜45 |
| Market Size / Share | The company explained that it plans to expand its market share and provided a comparison of store openings by competitors, but specific figures for market size and share were Not disclosed |
| New initiatives | Opening 18 Pilates K stores during the second half, mainly in regional cities, Obtaining an official HYROX license for REDY’S GYM and rolling out HYROX classes, Launching 3 new courses in the HR business, Launching ELL, a community for female business owners and managers, in the second half, Launching a premium membership service, Introducing BELMISE compression leggings |
Items this document does not state (6)
Segment resultsAnnual DividendPayout ratioAcquisition of treasury sharesOrders received and order backlogKey points of the Q&A
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.