Improving Full-Price Sell-Through and Moving Away from Reliance on Promotions
First written in FY2019. 9 of 20 entries say "Advanced", first in FY2022-Q2. Latest entry: 2026-10-15.
The whole theme swung hardest in 2020: 2 of 11 companies on the "Worse" side.
1 other company's latest entry also says "Worsened".
- FY2026AdvancedAnnual report
「The gross profit margin improved by 1.1 percentage points year on year as a result of a lower procurement cost ratio and inventory reductions following the completion of the prior-year inventory cleanup.」
The gross profit margin improved by 1.1 percentage points year on year as a result of a lower procurement cost ratio and the completion of the prior-year inventory cleanup, demonstrating the results of earnings-structure reforms that reduced reliance on sales. - 2026-04-13AdvancedEarnings presentation materials
「As supply-and-demand improvement measures, in addition to completing the disposal of inventories from prior fiscal years carried out in the previous fiscal year, the restraint of excessive discounting contributed to improved profitability.」
The completion of the disposal of prior-year inventories and restraint of excessive discounting reduced reliance on sales and improved profitability. - FY2026-H1AdvancedAnnual report
「As a result of measures to reform the earnings structure initiated in the previous fiscal year, including a lower procurement cost ratio and inventory reductions following the completion of the prior-year inventory cleanup, the gross profit margin improved by 1.8 percentage points year on year.」
With the prior-year inventory cleanup largely complete, the gross profit margin improved by 1.8 percentage points year on year through inventory reductions and a lower procurement cost ratio. Concrete results were demonstrated from measures to reduce reliance on sales and improve profit margins. - FY2025AdvancedAnnual report
「In the golf-related business, which had been working throughout the year to clear prior-year inventory, the adjustment was almost complete, enabling a shift to full-price sales.」
With the clearance and adjustment of prior-year inventory almost complete, the company demonstrated concrete progress in shifting away from reliance on sales by moving to full-price sales. - FY2025-H1AdvancedAnnual report
「While promoting inventory clearance through sales, primarily in the golf-related business and via e-commerce, we also reviewed merchandising and sale initiatives under the previously mentioned medium-term management plan (TIP27), including revising list prices for certain brands and strengthening full-price sales of high-summer merchandise, in an effort to improve profitability.」
Alongside clearing inventory through sales, reviewed original retail prices, strengthened full-price sales and revised sale initiatives, giving concrete form to the shift away from reliance on sales and the improvement of earnings power. - FY2024AdvancedAnnual report
「In light of these circumstances, to more appropriately reflect the decline in the profitability of inventories in the financial position and operating results, we decided during the current fiscal year to extend part of the forecast sales period used for writing down the carrying value of inventories. As a result of this change, cost of sales for the fiscal year decreased by ¥197 million, while operating income, ordinary income and profit before income taxes increased by the same amount, respectively.」
Against a backdrop of a circular business model and accumulated sales-performance data, extended part of the forecast sales period for inventories, resulting in a fiscal-year cumulative impact of ¥197 million on cost of sales and other items. - FY2024-Q3RestatedAnnual report
「In light of these circumstances, to more appropriately reflect the decline in the profitability of inventories in the financial position and operating results, we decided during the second quarter to extend part of the forecast sales period used for writing down the carrying value of inventories. As a result of this change, cost of sales for the nine months ended the third quarter of the current fiscal year decreased by ¥146 million, while operating income, ordinary income and profit before income taxes increased by the same amount, respectively.」
Continued to extend part of the forecast sales period against a backdrop of developing a circular business model and accumulating sales-performance data, disclosing a cumulative ¥146 million impact on cost of sales and other items. - FY2024-Q2AdvancedAnnual report
「In light of these circumstances, to more appropriately reflect the decline in the profitability of inventories in the financial position and operating results, we decided during the current second quarter to extend part of the forecast sales period used for writing down the carrying value of inventories. As a result of this change, cost of sales for the six months ended the second quarter of the current fiscal year decreased by ¥105 million, while operating income, ordinary income and profit before income taxes increased by the same amount, respectively.」
Against a backdrop of developing a circular business model and accumulating sales-performance data, extended part of the forecast sales period used to write down the carrying value of inventories and disclosed a ¥105 million impact on profit. - FY2023-Q1RestatedAnnual report
「As a result of this change, cost of sales for the three months ended the first quarter of the current fiscal year decreased by ¥414 million, while operating income, ordinary income and profit before income taxes increased by the same amount, respectively.」
Disclosed a ¥414 million impact on cost of sales for the quarter from changing the inventory write-down rate estimation method in light of changes in sales policies and improved full-price sell-through. - FY2022AdvancedAnnual report
「As a result, because the previous inventory write-down rate diverged from the rate calculated by reflecting the latest sales performance, we decided to reflect the latest sales performance in the inventory write-down rate from the current fiscal year. This change reduced cost of sales for the fiscal year by ¥1,876 million, while operating income, ordinary income and profit before income taxes increased by the same amount, respectively.」
In light of changes in sales policies, reductions in procurement and sales costs, and improved full-price sell-through, changed to a method that reflects the latest sales performance in the inventory write-down rate. The impact on cost of sales was ¥1,876 million. - FY2022-Q3RestatedAnnual report
「As a result of this change, cost of sales for the nine months ended the third quarter of the current fiscal year decreased by ¥1,077 million, while operating income, ordinary income and profit before income taxes increased by the same amount, respectively.」
Reconfirmed the change in the method for estimating inventory write-down rates, reflecting changes in sales policies, reductions in procurement and sales costs, and improved full-price sell-through, as well as its cumulative impact. - FY2022-Q2AdvancedAnnual report
「Amid the spread of COVID-19, we changed our sales policies and other measures, curbed procurement and sales costs, and worked to improve full-price sell-through. As a result, the previous inventory write-down rate diverged from the rate calculated by reflecting the latest sales performance, so from the current second quarter of the fiscal year, we decided to reflect the latest sales performance in the inventory write-down rate.」
Changed sales policies, curbed procurement and sales costs, and worked to improve full-price sell-through. A change in the estimate to reflect the latest sales performance in the inventory write-down rate reduced cost of sales by ¥970 million. - FY2020RestatedAnnual report
「We advanced measures to improve profit margins, including efforts to build branding and a business model that do not rely on sales, with the aim of improving the full-price sell-through rate.」
Continued to develop a brand and business model with reduced reliance on sales while improving full-price sell-through. - FY2020-Q3RestatedAnnual report
「We advanced measures to improve profit margins, including efforts to build branding and a business model that do not rely on sales, with the aim of improving the full-price sell-through rate.」
Continued to pursue improved full-price sell-through and the development of a branding and business model not reliant on sales as measures to improve profit margins. - FY2020-Q2RestatedAnnual report
「We advanced measures to improve profit margins, including efforts to build branding and a business model that do not rely on sales, primarily to improve the full-price sell-through rate.」
Continued to pursue improved full-price sell-through and the development of a branding and business model not reliant on sales as measures to improve profit margins. - FY2020-Q1RestatedAnnual report
「We advanced measures to improve profit margins, including efforts to build branding and a business model that do not rely on sales, primarily to improve the full-price sell-through rate.」
Continued to pursue branding and a business model not reliant on sales, together with improved full-price sell-through, as initiatives to raise profit margins. - FY2019First statedAnnual report
「The company will work to build a branding strategy and business model that do not depend on sales, improve the accuracy of AI-based additional product ordering, reduce the number of product styles and improve sell-through during sales to secure gross profit.」
For the first time, explicitly identified a business model not premised on sales, improved full-price sell-through, AI-based ordering, SKU rationalisation and higher sale sell-through as an integrated set of priority initiatives.