What was corrected and how
A subsequent correction by the company to the contents of an already published filing.
The following items in the table “Earnings Forecasts Affected by the Decline in Gross Margin on GMV, Higher SG&A Expenses and Impairment”: ① GMV, ② revenue, ③ operating profit before rewards, ④ operating profit before impairment losses, and ⑤ operating profit
Gross merchandise value 25,000 / Net Sales 1,700 / Operating profit before returns 230 / Operating profit before impairment losses 200 / Operating profit 200
Gross merchandise value 32,425 / Net Sales 1,699 / Operating profit before returns 104 / Operating profit before impairment losses 79 / Operating profit 14
GMV changed from ¥25,000 million to ¥32,425 million, revenue changed from ¥1,700 million to ¥1,699 million, operating profit before rewards changed from ¥230 million to ¥104 million, operating profit before impairment losses changed from ¥200 million to ¥79 million, and operating profit changed from ¥200 million to ¥14 million.
The decline in the gross margin on GMV, higher SG&A expenses and impairment. The company explained that the effects of improvements in the cost ratio took longer than expected to emerge, choices of digital gifts under the Hokkaido benefit program became limited, and the gross margin on GMV declined in the fourth quarter following the concentration of shareholder benefits in the third quarter. SG&A expenses increased due to investments in infrastructure, security, human resources and sales promotion. The impairment loss is currently under discussion with the audit firm.
| Item | Details |
|---|---|
| Original disclosure date | 2025/11/14 |
| Location of correction | The following items in the table “Earnings Forecasts Affected by the Decline in Gross Margin on GMV, Higher SG&A Expenses and Impairment”: ① GMV, ② revenue, ③ operating profit before rewards, ④ operating profit before impairment losses, and ⑤ operating profit |
| Details of correction | Gross merchandise value 25,000 / Net Sales 1,700 / Operating profit before returns 230 / Operating profit before impairment losses 200 / Operating profit 200 → Gross merchandise value 32,425 / Net Sales 1,699 / Operating profit before returns 104 / Operating profit before impairment losses 79 / Operating profit 14（Gross merchandise value +29.7% / Net Sales ▲0.1% / Operating profit before returns ▲54.8% / Operating profit before impairment losses ▲60.5% / Operating profit ▲93.0%） |
| Reason for correction | The decline in the gross margin on GMV, higher SG&A expenses and impairment. The company explained that the effects of improvements in the cost ratio took longer than expected to emerge, choices of digital gifts under the Hokkaido benefit program became limited, and the gross margin on GMV declined in the fourth quarter following the concentration of shareholder benefits in the third quarter. SG&A expenses increased due to investments in infrastructure, security, human resources and sales promotion. The impairment loss is currently under discussion with the audit firm. |
| Impact on Business Performance | GMV changed from ¥25,000 million to ¥32,425 million, revenue changed from ¥1,700 million to ¥1,699 million, operating profit before rewards changed from ¥230 million to ¥104 million, operating profit before impairment losses changed from ¥200 million to ¥79 million, and operating profit changed from ¥200 million to ¥14 million. |
Items this document does not state (1)
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 stated reasons are a decline in the gross margin on GMV, higher SG&A expenses and the recognition of impairment losses. Regarding the gross margin on GMV, the company explained that improvements in the cost ratio for point-reward activities took longer than expected, choices of digital gifts under the Hokkaido benefit program were limited, and the margin declined in the fourth quarter following the concentration of shareholder benefits in the third quarter. Regarding SG&A expenses, the company cited investments in infrastructure, security, human resources and sales promotion.