Worth reading
62In 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
-12.9
Year-on-year change in operating profit (%)Wording
Conditional
How definitive the wording is.Results for this period
Full year16 May 2025–15 May 2026ConsolidatedJapanese GAAPNet Sales100,571¥ millionYear on year +0.4%
Operating profit1,458¥ millionYear on year -12.9%
Ordinary income1,351¥ millionYear on year -18.1%
Net income attributable to owners of the parent434¥ millionYear on year -43.4%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit.
Net income per share¥31.55
Operating Margin1.5%
Financial position at period-end
Total assets45,153¥ million
of which net assets 10,218 ¥ millionEquity ratio 22.4%vs. prior year-end +1.2pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+2,318
Investment-1,139
Financials-2,366
Net change-1,187
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥1,483 million
Segment revenueRetail Business ¥98,488 million (YoY 0.0%), Marketing Business ¥2,091 million (YoY +7.0%), Asset Business ¥204 million (YoY +229.1%), Other Businesses ¥199 million (YoY +35.6%)
Segment profitRetail Business ¥1,121 million (YoY -26.8%), Marketing Business ¥-12 million, Asset Business ¥161 million, Other Businesses ¥23 million (YoY +59.0%)
Outlook and shareholder returns
Full-year earnings forecast
Net SalesNot disclosed
Operating profitNot disclosed
Ordinary incomeNot disclosed
Net incomeNot disclosed
ReasonNo earnings forecast has been provided for the fiscal year ending May 2027 because the company is expected to be delisted after the MBO is completed.
Annual Dividend Forecast¥10 per share → ¥0 per share（-100.0%）
Shareholder Return PolicyThe company will maintain an annual dividend of at least ¥10 per share and aims to achieve a consolidated dividend payout ratio of 30% over the long term.
Factors Behind Changes in Business Performance
Although average selling prices increased and the beauty care category grew, the number of items purchased and customer traffic declined due to rising prices and other factors. Personnel expenses, electricity costs, and promotional costs for inbound customers increased, while development costs for EZO Pay affected the Marketing Business. Revenue and profit in the Asset Business increased as a result of real estate sale transactions.
Disclosure regarding the going concern assumption
No applicable matters
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew 0 / Excluded 0 / Company name Not disclosed
Material subsequent eventsAt a board meeting held on 19 June 2026, the company resolved to support the tender offer by TERRA Corporation and recommend that shareholders tender their shares. The company is expected to become private and be delisted through a series of procedures after the tender offer is completed.
Impairment loss¥453 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥43 million, Gain on sale of investment securities ¥4 million, Gain on sale of shares in an affiliated company ¥24 million / Extraordinary loss Loss on Disposal of Fixed Assets ¥14 million, Impairment loss on investment securities ¥43 million, Impairment Losses ¥453 million, Loss on closure of stores ¥75 million
Depreciation and amortization¥1,535 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingNone (対象者：Not disclosed)
Issued Shares at Period-End14,236,564 shares
Treasury Shares at Period-End456,289 shares
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 16 May 2025–15 May 2026 |
| Net Sales | ¥100,571 million (YoY +0.4%) |
| Operating profit | ¥1,458 million (YoY -12.9%) |
| Ordinary income | ¥1,351 million (YoY -18.1%) |
| Profit attributable to owners of the parent | ¥434 million (YoY -43.4%) |
| Net income per share | ¥31.55 |
| Operating Margin | 1.5% |
| Equity ratio | End of the current fiscal period 22.4% / End of previous period 21.2% |
| Total assets | ¥45,153 million |
| Net assets | ¥10,218 million |
| Cash flows from operating activities | ¥2,318 million |
| Cash flows from investing activities | ¥-1,139 million |
| Cash flows from financing activities | ¥-2,366 million |
| Cash and cash equivalents at end of period | ¥1,483 million |
| Full-year earnings forecast | Net Sales Not disclosed / Operating profit Not disclosed / Ordinary income Not disclosed / Net income Not disclosed / Reason No earnings forecast has been provided for the fiscal year ending May 2027 because the company is expected to be delisted after the MBO is completed. |
| Annual Dividend Forecast | ¥10 per share → ¥0 per share（-100.0%） |
| Shareholder Return Policy | The company will maintain an annual dividend of at least ¥10 per share and aims to achieve a consolidated dividend payout ratio of 30% over the long term. |
| Segment revenue | Retail Business ¥98,488 million (YoY 0.0%), Marketing Business ¥2,091 million (YoY +7.0%), Asset Business ¥204 million (YoY +229.1%), Other Businesses ¥199 million (YoY +35.6%) |
| Segment profit | Retail Business ¥1,121 million (YoY -26.8%), Marketing Business ¥-12 million, Asset Business ¥161 million, Other Businesses ¥23 million (YoY +59.0%) |
| Depreciation and amortization | ¥1,535 million |
| Impairment loss | ¥453 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥43 million, Gain on sale of investment securities ¥4 million, Gain on sale of shares in an affiliated company ¥24 million / Extraordinary loss Loss on Disposal of Fixed Assets ¥14 million, Impairment loss on investment securities ¥43 million, Impairment Losses ¥453 million, Loss on closure of stores ¥75 million |
| Disclosure regarding the going concern assumption | No applicable matters |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New 0 / Excluded 0 / Company name Not disclosed |
| Material subsequent events | At a board meeting held on 19 June 2026, the company resolved to support the tender offer by TERRA Corporation and recommend that shareholders tender their shares. The company is expected to become private and be delisted through a series of procedures after the tender offer is completed. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | None (対象者：Not disclosed) |
| Issued Shares at Period-End | 14,236,564 shares |
| Treasury Shares at Period-End | 456,289 shares |
| Factors Behind Changes in Business Performance | Although average selling prices increased and the beauty care category grew, the number of items purchased and customer traffic declined due to rising prices and other factors. Personnel expenses, electricity costs, and promotional costs for inbound customers increased, while development costs for EZO Pay affected the Marketing Business. Revenue and profit in the Asset Business increased as a result of real estate sale transactions. |
Items this document does not state (4)
Revision to Earnings ForecastPayout ratioRegional salesOrders 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.Although average selling prices increased and the beauty care category grew, the number of items purchased and customer traffic declined. On the profit side, personnel expenses, including wage base increases, electricity costs, and promotional costs for inbound customers increased. Development costs for EZO Pay also affected the Marketing Business.
How to read this page
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