Komori
Earnings presentation3538WILLPLUS Holdings CorporationRetail

Supplementary Financial Results Presentation for the Third Quarter of the Fiscal Year Ending June 2026

The full-year forecasts for the fiscal year ending June 2026 were revised, with downward revisions to operating income, ordinary income and net income. The forecasts for net sales and dividends per share were unchanged.

Worth reading
67In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Deterioration
Direction inferred from the company’s description.
Scale
927
¥ million (reduction in operating income forecast)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationThird quarter of the fiscal year ending June 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥67,820 million+2.4%
Operating profit¥1,042 million-23.9%
Ordinary income¥1,063 million-26.5%
Net income¥837 million-26.7%
Selling, general and administrative expenses2,994 JPY million standalone third quarter
Gross Profit Margin
Rate12.5% (standalone third quarter of fiscal 2026)
Operating profit margin
Rate1.5% (nine months), 0.9% (standalone third quarter)
Year-on-year change (points)Down 0.6 percentage points year on year for the nine months and down 1.8 percentage points for the standalone third quarter
Results for the three months of the current quarter
Net Sales¥25,723 million
Operating profit¥228 million
Ordinary income¥253 million
Net income attributable to owners of the parent¥118 million
Operating profit margin0.9%
Ordinary income margin1.0%
Net profit margin0.5%
Full-year earnings forecast
Net Sales¥92,160 million
Operating profit¥1,400 million
Ordinary income¥1,427 million
Net income attributable to owners of the parent¥1,123 million
Dividend per share¥46.00
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 Sales73.6%
Operating profit74.4%
Ordinary income74.5%
Net income attributable to owners of the parent74.5%
Initial full-year operating income forecast44.8%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Slightly below budget (export sales in the used-car export business)
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Revenue+¥1,600 million
  • Cost of sales−¥1,344 million
  • Gross profit+¥255 million
  • Personnel expenses−¥227 million
  • Depreciation−¥141 million
  • Other expenses, outsourcing expenses, transportation expenses, insurance premiums, recruitment expenses and provision for allowance for doubtful accounts−¥214 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Fourth-quarter results are projected conservatively compared with the previous year's fourth-quarter results. New-car sales are expected to improve slightly as registrations of high-priced vehicles advance following the abolition of the automobile environmental performance tax in April. Numerical assumptions: Not disclosed.
New initiatives
  • Entered into agreements to acquire the shares of OGUNI株式会社 and PHA株式会社, and is scheduled to acquire Volvo Cars Himeji, Volvo Selekt Himeji and Porsche Center Himeji.
  • Acquire Sojitz Auto Group Japan株式会社's authorized Volvo dealership business.
  • Expansion of the Porsche brand into the Kansai region and expansion of the Volvo store network.
Key KPIsA metric the company considers important as a management benchmark.
  • Vehicle maintenance revenue¥7,021,308 thousand
    Year on year against the same period last year+15.9%
  • Insurance commission income¥337,886 thousand
    Year on year against the same period last year+3.0%
  • Total number of insurance policies11,814 Engagements
    Year on year against the same period last year+1.5%
  • New automobile insurance acquisition rate38.4%
  • New-vehicle registrations for brands handled by the Company26,241 Vehicles third-quarter total
    Year on year against the same period last year▲11.2%
  • New-vehicle registrations in Japan's imported-car market57,433 Vehicles third-quarter total
    Year on year against the same period last year▲8.0%
Segment results
  • Imported vehicle dealership business
    Net Sales¥13,764 million (down ¥776 million year on year)
    Operating profit¥382 million (down ¥446 million year on year)
  • Used-vehicle export-related business
    Net Sales¥11,959 million (up ¥1,338 million year on year)
    Operating profit¥127 million (up ¥21 million year on year)
Market Size / Share
New passenger-vehicle registrations in Japan: 676,847 units (third quarter, down 8.4% year on year); foreign-brand passenger vehicles: 57,433 units (third quarter, down 8.0% year on year); brands handled by the Company: 26,241 units (third quarter, down 11.2% year on year). BYD's share of foreign-brand vehicles was 1.9%, and Hyundai's was 0.6%.
Number of stores and locations
Following M&A, the store count by brand is 3 Volvo stores in Hyogo Prefecture, 1 in Kagawa Prefecture, 1 in Tokushima Prefecture and 1 in Ehime Prefecture, plus 1 Porsche store in Hyogo Prefecture. The Company is scheduled to acquire 5 stores from Sojitz Auto Group Japan on 1 April during the fiscal year and 3 stores from OGUNI and PHA on 1 July.
Annual Dividend
¥46.00 (breakdown between the interim and year-end dividends: Not disclosed)
Payout ratio
37.2% (forecast)
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredThird quarter of the fiscal year ending June 2026
Net Sales¥67,820 million (YoY +2.4%)
Operating profit¥1,042 million (YoY -23.9%)
Ordinary income¥1,063 million (YoY -26.5%)
Net income¥837 million (YoY -26.7%)
Gross Profit MarginRate 12.5% (standalone third quarter of fiscal 2026) / Year-on-year change (points) Not disclosed
Operating profit marginRate 1.5% (nine months), 0.9% (standalone third quarter) / Year-on-year change (points) Down 0.6 percentage points year on year for the nine months and down 1.8 percentage points for the standalone third quarter
Selling, general and administrative expenses2,994 JPY million (standalone third quarter)
Results for the three months of the current quarterNet Sales ¥25,723 million / Operating profit ¥228 million / Ordinary income ¥253 million / Net income attributable to owners of the parent ¥118 million / Operating profit margin 0.9% / Ordinary income margin 1.0% / Net profit margin 0.5%
Full-year earnings forecastNet Sales ¥92,160 million / Operating profit ¥1,400 million / Ordinary income ¥1,427 million / Net income attributable to owners of the parent ¥1,123 million / Dividend per share ¥46.00
Progress against full-year forecastNet Sales 73.6% / Operating profit 74.4% / Ordinary income 74.5% / Net income attributable to owners of the parent 74.5% / Initial full-year operating income forecast 44.8%
Self-assessment against the planSlightly below budget (export sales in the used-car export business)
Segment resultsSegment Imported vehicle dealership business / Net Sales ¥13,764 million (down ¥776 million year on year) / Operating profit ¥382 million (down ¥446 million year on year), Segment Used-vehicle export-related business / Net Sales ¥11,959 million (up ¥1,338 million year on year) / Operating profit ¥127 million (up ¥21 million year on year)
Breakdown of Factors Affecting the ChangeFactors Revenue / Amount +¥1,600 million, Factors Cost of sales / Amount −¥1,344 million, Factors Gross profit / Amount +¥255 million, Factors Personnel expenses / Amount −¥227 million, Factors Depreciation / Amount −¥141 million, Factors Other expenses, outsourcing expenses, transportation expenses, insurance premiums, recruitment expenses and provision for allowance for doubtful accounts / Amount −¥214 million
Key KPIsIndicator name Vehicle maintenance revenue / Value ¥7,021,308 thousand / Year on year against the same period last year +15.9%, Indicator name Insurance commission income / Value ¥337,886 thousand / Year on year against the same period last year +3.0%, Indicator name Total number of insurance policies / Value 11,814 Engagements / Year on year against the same period last year +1.5%, Indicator name New automobile insurance acquisition rate / Value 38.4% / Year on year against the same period last year Not disclosed, Indicator name New-vehicle registrations for brands handled by the Company / Value 26,241 Vehicles (third-quarter total) / Year on year against the same period last year ▲11.2%, Indicator name New-vehicle registrations in Japan's imported-car market / Value 57,433 Vehicles (third-quarter total) / Year on year against the same period last year ▲8.0%
Number of stores and locationsFollowing M&A, the store count by brand is 3 Volvo stores in Hyogo Prefecture, 1 in Kagawa Prefecture, 1 in Tokushima Prefecture and 1 in Ehime Prefecture, plus 1 Porsche store in Hyogo Prefecture. The Company is scheduled to acquire 5 stores from Sojitz Auto Group Japan on 1 April during the fiscal year and 3 stores from OGUNI and PHA on 1 July.
Assumptions Underlying the Business OutlookFourth-quarter results are projected conservatively compared with the previous year's fourth-quarter results. New-car sales are expected to improve slightly as registrations of high-priced vehicles advance following the abolition of the automobile environmental performance tax in April. Numerical assumptions: Not disclosed.
Annual Dividend¥46.00 (breakdown between the interim and year-end dividends: Not disclosed)
Payout ratio37.2% (forecast)
Market Size / ShareNew passenger-vehicle registrations in Japan: 676,847 units (third quarter, down 8.4% year on year); foreign-brand passenger vehicles: 57,433 units (third quarter, down 8.0% year on year); brands handled by the Company: 26,241 units (third quarter, down 11.2% year on year). BYD's share of foreign-brand vehicles was 1.9%, and Hyundai's was 0.6%.
New initiativesEntered into agreements to acquire the shares of OGUNI株式会社 and PHA株式会社, and is scheduled to acquire Volvo Cars Himeji, Volvo Selekt Himeji and Porsche Center Himeji., Acquire Sojitz Auto Group Japan株式会社's authorized Volvo dealership business., Expansion of the Porsche brand into the Kansai region and expansion of the Volvo store network.
Items this document does not state (9)
Unit price and quantity metricsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAcquisition of treasury sharesCapital expendituresOrders 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.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

In the imported-car dealership business, the deterioration in the new-car sales environment and weak profitability of used cars continued. Deficits at stores brought into the Group through M&A and selling, general and administrative expenses that increased ahead of schedule put pressure on profits. In the used-car export-related business, higher procurement and ocean freight costs also weakened profitability.

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Supplementary Financial Results Presentation for the Third Quarter of the Fiscal Year Ending June 2026 | WILLPLUS Holdings Corporation (3538) timely disclosure | Komori