Worth reading
78Important
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
650
Millions of yen (year-on-year increase in operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFY2026/08 Second Quarter (Interim Period)13 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales15,391 million yen+14.8%
Operating profit2,236 million yen+41.0%
Net income1,466 million yen+39.8%
Gross Profit Margin
Rate61.5%
Year-on-year change (points)-3
Operating profit margin
Rate14.5%
Year-on-year change (points)2.7
Results for the three months of the current quarter
Revenue
7,733 million yen+12.4%
Operating profit
1,035 million yen+19.1%
Profit before tax
961 million yen+28.1%
Profit for the period
669 million yen+12.8%
Full-year earnings forecast
Revenue
30,000 million yen
Operating profit
3,650 million yen
Profit before tax
3,200 million yen
Profit for the period
2,170 million yen
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。
Revenue51.3%
Operating profit61.3%
Profit before tax64.8%
Profit for the period67.6%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Cumulative results for the second quarter are tracking above planAssumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The gross profit margin is expected to begin rising from the fourth quarter as product prices are revised in stages. Numerical assumptions were not disclosedNew initiatives
- Developed and began operating an in-house AI-powered employee development support system
- Product prices are scheduled to be reviewed again in the third quarter
- Brought forward to FY2026/8 the opening of 3 stores in mainland China originally scheduled for FY2027/8
- Brought forward the entry into Malaysia from FY2027/8 to FY2026/8
- Relocated the I-PRIMO store in Hong Kong
Key KPIsA metric the company considers important as a management benchmark.
- Global store count133 Location
- Number of employees1,080 people
- Jewelry Coordinator certification rate95 %
- Existing domestic customers42,000 transactionsYear on year against the same period last yearFY24/8: approximately 39,000 couples
Unit price and quantity metricsThese figures show sales broken down by price and volume.
In Japan, both customer numbers and average spending per customer increased year on year. However, the figures were not disclosedSegment results
Domestic
Revenue
10,015 million yen+14.2%
Segment profit
1,744 million yen+19.6%
Overseas expansion
Revenue
5,377 million yen+15.9%
Segment profit
492 million yen+284.8%
Medium-term management plan targets
RevenueCAGR of approximately 5–7% from FY2024/8 to FY2027/8
Business profitFY2027/8 consolidated business profit of ¥5,000–7,000 million and a business profit margin of at least 12%
ROEAt least 13% in FY2027/8
Financial targets
ROEAt least 13% in FY2027/8
Actual resultsFY25/8 10.6%
Market Size / Share
Domestic bridal jewelry marketCAGR of 9.3% from 2021 to 2025
Wedding ring purchase rateAt least 90%
Percentage of Chinese consumers prioritizing quality45%
Number of stores and locations
Number at period-end133 stores (as of the end of February 2026)
Number of store openings and closures during the periodRelocated 1 store in Hong Kong. Preparing to open stores in mainland China and Malaysia. The specific number of store openings was not disclosed
Number of employees
Number of Employees1,080 people
As ofEnd of February 2026
Annual Dividend
Annual dividend per share120 yen
Breakdown
Interim60
End of period60
Payout ratio
Basic policy of at least 40%. FY2026/8 forecast: 48.4%| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | FY2026/08 Second Quarter (Interim Period) |
| Net Sales | 15,391 million yen (YoY +14.8%) |
| Operating profit | 2,236 million yen (YoY +41.0%) |
| Net income | 1,466 million yen (YoY +39.8%) |
| Gross Profit Margin | Rate 61.5% / Year-on-year change (points) -3 |
| Operating profit margin | Rate 14.5% / Year-on-year change (points) 2.7 |
| Results for the three months of the current quarter | Revenue 7,733 million yen (YoY +12.4%) / Operating profit 1,035 million yen (YoY +19.1%) / Profit before tax 961 million yen (YoY +28.1%) / Profit for the period 669 million yen (YoY +12.8%) |
| Full-year earnings forecast | Revenue 30,000 million yen / Operating profit 3,650 million yen / Profit before tax 3,200 million yen / Profit for the period 2,170 million yen |
| Progress against full-year forecast | Revenue 51.3% / Operating profit 61.3% / Profit before tax 64.8% / Profit for the period 67.6% |
| Self-assessment against the plan | Cumulative results for the second quarter are tracking above plan |
| Segment results | Domestic Revenue 10,015 million yen (YoY +14.2%) / Segment profit 1,744 million yen (YoY +19.6%) / Overseas expansion Revenue 5,377 million yen (YoY +15.9%) / Segment profit 492 million yen (YoY +284.8%) |
| Key KPIs | Indicator name Global store count / Value 133 Location / Year on year against the same period last year Not disclosed, Indicator name Number of employees / Value 1,080 people / Year on year against the same period last year Not disclosed, Indicator name Jewelry Coordinator certification rate / Value 95 % / Year on year against the same period last year Not disclosed, Indicator name Existing domestic customers / Value 42,000 transactions / Year on year against the same period last year FY24/8: approximately 39,000 couples |
| Unit price and quantity metrics | In Japan, both customer numbers and average spending per customer increased year on year. However, the figures were not disclosed |
| Number of stores and locations | Number at period-end 133 stores (as of the end of February 2026) / Number of store openings and closures during the period Relocated 1 store in Hong Kong. Preparing to open stores in mainland China and Malaysia. The specific number of store openings was not disclosed |
| Number of employees | Number of Employees 1,080 people / As of End of February 2026 / Changes during the period and hiring plan Not disclosed |
| Assumptions Underlying the Business Outlook | The gross profit margin is expected to begin rising from the fourth quarter as product prices are revised in stages. Numerical assumptions were not disclosed |
| Medium-term management plan targets | Revenue CAGR of approximately 5–7% from FY2024/8 to FY2027/8 / Business profit FY2027/8 consolidated business profit of ¥5,000–7,000 million and a business profit margin of at least 12% / ROE At least 13% in FY2027/8 |
| Financial targets | ROE At least 13% in FY2027/8 / Actual results FY25/8 10.6% |
| Annual Dividend | Annual dividend per share 120 yen / Breakdown Interim 60 / End of period 60 |
| Payout ratio | Basic policy of at least 40%. FY2026/8 forecast: 48.4% |
| Market Size / Share | Domestic bridal jewelry market CAGR of 9.3% from 2021 to 2025 / Wedding ring purchase rate At least 90% / Percentage of Chinese consumers prioritizing quality 45% |
| New initiatives | Developed and began operating an in-house AI-powered employee development support system, Product prices are scheduled to be reviewed again in the third quarter, Brought forward to FY2026/8 the opening of 3 stores in mainland China originally scheduled for FY2027/8, Brought forward the entry into Malaysia from FY2027/8 to FY2026/8, Relocated the I-PRIMO store in Hong Kong |
Items this document does not state (8)
Ordinary incomeSelling, general and administrative expensesBreakdown of Factors Affecting the ChangeRisk amount incorporated into the outlookAcquisition 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 Japan, both customer numbers and average spending per customer increased, while fixed-cost growth was limited relative to revenue growth. Overseas, profitability improved following a review of the operating structure and marketing in mainland China. Meanwhile, the gross profit margin declined due to surging precious-metal prices and the time lag before the effects of product price revisions emerged.
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