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Earnings3608TSI HOLDINGS CO.,LTD.Materials and Chemicals

Financial Results for the Second Quarter (Interim Period) of the Fiscal Year Ending February 2027 (Japanese GAAP) (Consolidated)

During the interim period of the fiscal year ending February 2027, net sales and operating income increased significantly, driven by contributions from acquired companies and growth in existing brands. Meanwhile, net assets and interim net income attributable to owners of the parent decreased, mainly due to a decline in the valuation difference on investment securities.

Worth reading
60In focus
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
34.4
Year-on-year increase in net sales (%)
Wording
Definitive
How definitive the wording is.

Results for this period

Interim period (second quarter)1 March 2026 to 31 August 2026ConsolidatedJapanese GAAP
Net Sales88,905¥ millionYear on year +34.4%Progress 44.5%
Operating profit995¥ millionYear on year +55.5%Progress 13.3%
Ordinary income1,929¥ millionYear on year +44.7%Progress 26.8%
Net income attributable to owners of the parent1,117¥ millionYear on year -14.9%Progress 14.5%

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. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.

Net income per share¥19.69
Financial position at period-end
Total assets177,608¥ million
of which net assets 91,667 ¥ millionEquity ratio 51.6%vs. prior year-end -3.7pt

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+7,781
Investment-7,586
Financials+2,066
Net change+2,261

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¥30,286 million
Segment revenueApparel-related business ¥84,385 million (YoY +32.4%), Other Businesses ¥4,877 million (YoY +74.6%)
Segment profitApparel-related business ¥1,349 million, Other ¥370 million
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥200,000 million (YoY +19.7%)
Operating profit¥7,500 million (YoY +73.7%)
Ordinary income¥7,200 million (YoY +32.6%)
Net income¥7,700 million (YoY +96.6%)
Annual Dividend Forecast¥40 → ¥70(+75.0%)
Factors Behind Changes in Business Performance

The contribution from ㈱デイトナ・インターナショナル and ㈱ウォーターフロント, which were consolidated in the previous fiscal year, had a significant impact from the beginning of the period. In the existing businesses, men's brands continued to perform well, while women's brands showed signs of recovery. Sales on the company's own e-commerce site, "mix.tokyo," also increased by more than 20% year on year.

Disclosure regarding the going concern assumption

Not applicable.

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 Number of companies 3 / Company name 東洋エンタープライズ(株), (株)レイラニトレーディング, ネットワーク(有) / Excluded Number of companies 1 / Company name Urth Caffe JAPAN(株)
Impairment loss¥25 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥2 million, Gain on sale of investment securities ¥263 million / Extraordinary loss Loss on Disposal of Fixed Assets ¥16 million, Impairment Loss on Investment Securities ¥37 million, Impairment Losses ¥25 million, Other ¥42 million
Depreciation and amortization¥2,352 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingAvailable (for institutional investors and analysts)
Issued Shares at Period-End63,438,793
Treasury Shares at Period-End7,217,230
Results for this period
ItemDetails
Fiscal Period ClassificationInterim period (second quarter)
Accounting standardsJapanese GAAP
Consolidated / non-consolidatedConsolidated
Period Covered1 March 2026 to 31 August 2026
Net Sales¥88,905 million (YoY +34.4%)
Operating profit¥995 million (YoY +55.5%)
Ordinary income¥1,929 million (YoY +44.7%)
Profit attributable to owners of the parent¥1,117 million (YoY -14.9%)
Net income per share¥19.69
Equity ratioEnd of the current fiscal period 51.6 / End of previous period 55.3
Total assets¥177,608 million
Net assets¥91,667 million
Cash flows from operating activities¥7,781 million
Cash flows from investing activities¥-7,586 million
Cash flows from financing activities¥2,066 million
Cash and cash equivalents at end of period¥30,286 million
Full-year earnings forecastNet Sales ¥200,000 million (YoY +19.7%) / Operating profit ¥7,500 million (YoY +73.7%) / Ordinary income ¥7,200 million (YoY +32.6%) / Net income ¥7,700 million (YoY +96.6%)
Annual Dividend Forecast¥40 → ¥70(+75.0%)
Segment revenueApparel-related business ¥84,385 million (YoY +32.4%), Other Businesses ¥4,877 million (YoY +74.6%)
Segment profitApparel-related business ¥1,349 million, Other ¥370 million
Depreciation and amortization¥2,352 million
Impairment loss¥25 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥2 million, Gain on sale of investment securities ¥263 million / Extraordinary loss Loss on Disposal of Fixed Assets ¥16 million, Impairment Loss on Investment Securities ¥37 million, Impairment Losses ¥25 million, Other ¥42 million
Disclosure regarding the going concern assumptionNot applicable.
Change in accounting policyChanges due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No
Changes in the scope of consolidationNew Number of companies 3 / Company name 東洋エンタープライズ(株), (株)レイラニトレーディング, ネットワーク(有) / Excluded Number of companies 1 / Company name Urth Caffe JAPAN(株)
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingAvailable (for institutional investors and analysts)
Issued Shares at Period-End63,438,793
Treasury Shares at Period-End7,217,230
Factors Behind Changes in Business PerformanceThe contribution from ㈱デイトナ・インターナショナル and ㈱ウォーターフロント, which were consolidated in the previous fiscal year, had a significant impact from the beginning of the period. In the existing businesses, men's brands continued to perform well, while women's brands showed signs of recovery. Sales on the company's own e-commerce site, "mix.tokyo," also increased by more than 20% year on year.
Items this document does not state (7)
Operating MarginRevision to Earnings ForecastPayout ratioShareholder Return PolicyRegional salesOrders received and order backlogMaterial subsequent events

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.

Net sales increased as Daytona International and Waterfront, which were consolidated in the previous fiscal year, contributed from the beginning of the period, men's brands performed well, women's brands recovered, and sales on the company's own e-commerce site, "mix.tokyo," increased. On the earnings side, the selling, general and administrative expense ratio improved, while the lower gross margin of newly consolidated companies and adverse currency movements affecting imported brands pushed down the gross margin. The reported figures show the impact of extraordinary gains and losses, taxes and other factors on the decrease in interim net income, but the company has not specified a primary cause.

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Financial Results for the Second Quarter (Interim Period) of the Fiscal Year Ending February 2027 (Japanese GAAP) (Consolidated) | TSI HOLDINGS CO.,LTD. (3608) timely disclosure | Komori