Worth reading
48Recurring
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
497
¥ million (operating loss)Wording
Avoiding a definitive answer
How definitive the wording is.Contents of this document
Results presentationFull year ended September 20269 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,264 million+29.9%
Operating profit¥-497 million
Ordinary income¥-555 million
Net income¥-762 million net profit attributable to owners of the parent
Results for the three months of the current quarterThe Company's non-consolidated trading card sales were ¥241 million from April to June and ¥136 million from July to September. Monthly non-consolidated sales were ¥112 million in May and ¥43 million in September. The non-consolidated operating loss in September was ¥53 million.
Full-year earnings forecast
Period Covered1 October 2026–31 December 2027 (15 months)
Net Sales
¥1,402 million
Operating profit
¥-613 million
Ordinary income
¥-633 million
Profit attributable to owners of the parent
¥-634 million
Dividend per share
¥0
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Extraordinary loss
Total¥202.2 million
Breakdown
Provision for allowance for doubtful accounts97.5
Impairment loss46.9
Loss on redemption of convertible bonds36.1
Inventory valuation loss12.9
Loss on Sale of Subsidiary Shares7.8
Loss on disposal of fixed assets0.8
Operating cash flow¥-507 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The disclosure identifies trends in trading card prices, developments concerning regulations and litigation related to oripa products, and the exercise status of stock acquisition rights as assumptions and risks. Specific figures for foreign exchange rates and raw material prices: Not disclosed.New initiatives
- Replacement of inventory in the trading card business (¥200 million in inventory replacement funding, scheduled for completion by December 2027)
- Purchasing IP products for which demand is expected
- Securing high-priced cards
- Review of product descriptions, disclosure methods for winning probabilities and the operating structure in the trading card business, and strengthening of the management structure
- Shift in financial strategy from a borrowing-centered approach to one focused on equity
- Raising a maximum of ¥367.3 million through the issuance of the 34th Series Stock Acquisition Rights
- Submission of a proposal to amend the Articles of Incorporation to increase the total number of authorized shares from 77 million to 200 million
Key KPIsA metric the company considers important as a management benchmark.
- EBITDA¥-482 million
- Equity ratio89.6 %Year on year against the same period last yearIncreased from 60.1%
- Percentage of trading card inventory that is difficult to sell at cost70 %
- Products whose prices declined in the ONE PIECE Card Game22/23
- Products whose prices declined in the Pokémon Card Game31/36
- Average rate of change in ONE PIECE Card Game prices (60 days)-22.1 %
- Average rate of change in Pokémon Card Game prices (60 days)-7.5 %
Unit price and quantity metricsThese figures show sales broken down by price and volume.
The disclosure states that selling and purchase prices for trading cards declined and that non-consolidated trading card sales fell by approximately 58% from June to September. Specific volume figures: Not disclosed.Segment results
Trading card business
Net Sales
¥899 million+198.6%
Segment loss
¥-182 million
Advertising Business
Net Sales
¥357 million-43.9%
Segment loss
¥-41 million
Other (Beauty & Wellness)
Net Sales
¥7 million-78.0%
Segment loss
¥-102 million
Financial targets
The actual equity ratio was 89.6% at the end of September 2026, compared with 60.1% at the end of the previous fiscal year. Financial targets: Not disclosed.Market Size / Share
The listing maintenance criteria for the Growth Market include a market capitalization of ¥4 billion and a tradable share ratio of at least 25%. Market size and business share: Not disclosed.Annual Dividend
¥0 for the fiscal year ending September 2026 and forecast ¥0 for the fiscal year ending December 2027. Interim and year-end breakdown: Not disclosed.| Item | Details |
|---|---|
| Document type | Results presentation |
| Fiscal Period Covered | Full year ended September 2026 |
| Net Sales | ¥1,264 million (YoY +29.9%) |
| Operating profit | ¥-497 million |
| Ordinary income | ¥-555 million |
| Net income | ¥-762 million (net profit attributable to owners of the parent) |
| Results for the three months of the current quarter | The Company's non-consolidated trading card sales were ¥241 million from April to June and ¥136 million from July to September. Monthly non-consolidated sales were ¥112 million in May and ¥43 million in September. The non-consolidated operating loss in September was ¥53 million. |
| Full-year earnings forecast | Period Covered 1 October 2026–31 December 2027 (15 months) / Net Sales ¥1,402 million / Operating profit ¥-613 million / Ordinary income ¥-633 million / Profit attributable to owners of the parent ¥-634 million / Dividend per share ¥0 |
| Segment results | Trading card business Net Sales ¥899 million (YoY +198.6%) / Segment loss ¥-182 million / Advertising Business Net Sales ¥357 million (YoY -43.9%) / Segment loss ¥-41 million / Other (Beauty & Wellness) Net Sales ¥7 million (YoY -78.0%) / Segment loss ¥-102 million |
| Breakdown of Factors Affecting the Change | Extraordinary loss Total ¥202.2 million / Breakdown Provision for allowance for doubtful accounts 97.5 / Impairment loss 46.9 / Loss on redemption of convertible bonds 36.1 / Inventory valuation loss 12.9 / Loss on Sale of Subsidiary Shares 7.8 / Loss on disposal of fixed assets 0.8 / Operating cash flow ¥-507 million |
| Key KPIs | EBITDA ¥-482 million, Equity ratio 89.6 %, Percentage of trading card inventory that is difficult to sell at cost 70 %, Products whose prices declined in the ONE PIECE Card Game 22/23, Products whose prices declined in the Pokémon Card Game 31/36, Average rate of change in ONE PIECE Card Game prices (60 days) -22.1 %, Average rate of change in Pokémon Card Game prices (60 days) -7.5 % |
| Unit price and quantity metrics | The disclosure states that selling and purchase prices for trading cards declined and that non-consolidated trading card sales fell by approximately 58% from June to September. Specific volume figures: Not disclosed. |
| Assumptions Underlying the Business Outlook | The disclosure identifies trends in trading card prices, developments concerning regulations and litigation related to oripa products, and the exercise status of stock acquisition rights as assumptions and risks. Specific figures for foreign exchange rates and raw material prices: Not disclosed. |
| Financial targets | The actual equity ratio was 89.6% at the end of September 2026, compared with 60.1% at the end of the previous fiscal year. Financial targets: Not disclosed. |
| Annual Dividend | ¥0 for the fiscal year ending September 2026 and forecast ¥0 for the fiscal year ending December 2027. Interim and year-end breakdown: Not disclosed. |
| Market Size / Share | The listing maintenance criteria for the Growth Market include a market capitalization of ¥4 billion and a tradable share ratio of at least 25%. Market size and business share: Not disclosed. |
| New initiatives | Replacement of inventory in the trading card business (¥200 million in inventory replacement funding, scheduled for completion by December 2027), Purchasing IP products for which demand is expected, Securing high-priced cards, Review of product descriptions, disclosure methods for winning probabilities and the operating structure in the trading card business, and strengthening of the management structure, Shift in financial strategy from a borrowing-centered approach to one focused on equity, Raising a maximum of ¥367.3 million through the issuance of the 34th Series Stock Acquisition Rights, Submission of a proposal to amend the Articles of Incorporation to increase the total number of authorized shares from 77 million to 200 million |
Items this document does not state (14)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsPayout ratioAcquisition 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.The Company cited lower selling and purchase prices due to an unexpected decline in trading card prices, lower inventory values accompanying the decline, the dissolution and special liquidation of アクセルメディカ株式会社, sluggish advertising demand, increased administrative burden associated with litigation concerning oripa sales, and extraordinary losses of ¥202.2 million, among other reasons.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.