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Value Golf (3931) · FactHigher operating income despite lower revenue

Substantial Revenue Growth and Operating Profit Expansion in the Golf Business

First written in FY2018-Q2. 18 of 33 entries say "Advanced", first in FY2018-Q3. Latest entry: 2026-09-14.

33entries
10years
3from disclosures
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ProgressHeldSoftenedWorseAdvancedFY2020-Q1 – FY2023AdvancedFY2025-Q1 – FY2025-H12017: 22018: 320182019: 420192020: 320202021: 420212022: 420222023: 420232024: 320242025: 120252026: 52026
Same theme, other companies
Revenue and Profit Growth in the Golf Business and the Effects of Cost ReductionsA theme 4 companies write about · 0 as a headwind · 5 as a tailwind

2 other companies' latest entry also says "Other".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
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  2. FY2027-H1Higher operating income despite lower revenueAnnual report

    「As a result, revenue was ¥1,647.840 million, down 8.5% year on year, and operating profit was ¥263.480 million, up 3.9% year on year.」

    The Golf business reported lower sales but a 3.9% year-on-year increase in operating profit.
  3. 2026-06-12OtherResults briefing materials

    「In the EC service (Golf business), we have moved away from price competition. Although sales have declined, we are maintaining high margins.」

    The Golf business is prioritizing the maintenance of high margins over sales growth.
  4. FY2026Full-year revenue growth and operating profit declineAnnual report

    「The golf business generated revenue of ¥3,502.854 million, up 2.3% year on year, and operating profit of ¥492.530 million, down 2.4% year on year.」

    The golf business delivered higher revenue for the full year, while operating profit fell 2.4%. The decline in profit narrowed for the full year from the 17.7% decline in operating profit reported for the six-month period.
  5. FY2026-H1WorsenedAnnual report

    「As a result, revenue was ¥1,801.027 million, up 3.9% year on year, and operating profit was ¥253.654 million, down 17.7% year on year.」

    Although the golf business recorded higher revenue, operating profit fell 17.7% year on year due to investment in AI service development and increased advertising and promotional activities, among other factors.
  6. FY2025-H1AdvancedAnnual report

    「As a result, revenue was ¥1,732.427 million, up 6.6% year on year, and operating profit was ¥308.333 million, up 43.2% year on year.」

    The golf business delivered higher revenue and operating profit for the six-month period, with revenue up 6.6% and operating profit up 43.2%.
  7. FY2025-Q1AdvancedAnnual report

    「As a result, revenue was ¥828.179 million, up 5.4% year on year, and operating profit was ¥157.950 million, up 46.4% year on year.」

    The golf business delivered higher revenue and operating profit in the first quarter, with revenue up 5.4% year on year and operating profit up 46.4%.
  8. FY2024WorsenedAnnual report

    「The golf business generated revenue of ¥3,320.721 million, down 18.6% year on year, and operating profit of ¥424.133 million, down 27.3% year on year.」

    The golf business recorded lower revenue and operating profit for the full year, with revenue down 18.6% and operating profit down 27.3%.
  9. FY2024-Q3WorsenedAnnual report

    「As a result, revenue was ¥2,522.036 million, down 20.5% year on year, and operating profit was ¥304.602 million, down 36.3% year on year.」

    The golf business recorded lower revenue and operating profit than in the same period of the previous year for the nine months ended the third quarter, with revenue down 20.5% and operating profit down 36.3%.
  10. FY2024-Q2WorsenedAnnual report

    「As a result, revenue was ¥1,624.438 million, down 23.3% year on year, and operating profit was ¥215.210 million, down 36.2% year on year.」

    The golf business recorded revenue down 23.3% year on year and operating profit down 36.2% for the six months ended the second quarter.
  11. FY2024-Q1WorsenedAnnual report

    「As a result, revenue was ¥785.577 million, down 22.0% year on year, and operating profit was ¥107.919 million, down 40.1% year on year.」

    The golf business recorded lower revenue and operating profit than in the same period of the previous year, with revenue down 22.0% year on year and operating profit down 40.1%.
  12. FY2023AdvancedAnnual report

    「As a result, revenue was ¥4,081.411 million, and operating profit was ¥584.014 million, up 2.3% year on year.」

    The golf business generated revenue of ¥4,081.411 million and operating profit of ¥584.014 million, with operating profit up 2.3% year on year.
  13. FY2023-Q3AdvancedAnnual report

    「As a result, revenue was ¥3,175.436 million, and operating profit was ¥478.409 million, up 9.3% year on year.」

    The golf business continued to increase profit, with operating profit of ¥478.409 million, up 9.3% year on year for the nine months ended the third quarter.
  14. FY2023-Q2AdvancedAnnual report

    「As a result, revenue was ¥2,119.249 million, and operating profit was ¥337.720 million, up 13.8% year on year.」

    The golf business continued to increase profit, with operating profit of ¥337.720 million, up 13.8% year on year for the six months ended the second quarter.
  15. FY2023-Q1AdvancedAnnual report

    「As a result, revenue was ¥1,006.943 million, and operating profit was ¥180.086 million, up 25.3% year on year.」

    The golf business drove group performance, with operating profit of ¥180.086 million, up 25.3% year on year.
  16. FY2022AdvancedAnnual report

    「As a result, revenue was ¥3,814.399 million, up 6.3% year on year, and operating profit was ¥571.087 million, up 15.9% year on year.」

    The golf business delivered higher revenue and operating profit for the full year, with operating profit up 15.9% year on year.
  17. FY2022-Q3AdvancedAnnual report

    「As a result, revenue was ¥2,908.964 million, up 8.6% year on year, and operating profit was ¥437.648 million, up 19.5% year on year.」

    The golf business drove group performance, with revenue up 8.6% and operating profit up 19.5% for the nine months ended the third quarter.
  18. FY2022-Q2AdvancedAnnual report

    「As a result, revenue was ¥1,939.089 million, up 9.8% year on year, and operating profit was ¥296.873 million, up 23.0% year on year.」

    The golf business continued to deliver higher revenue and operating profit, with revenue up 9.8% year on year and operating profit up 23.0%.
  19. FY2022-Q1AdvancedAnnual report

    「As a result, revenue was ¥925.238 million, up 16.2% year on year, and operating profit was ¥143.714 million, up 40.7% year on year.」

    The golf business continued to deliver higher revenue and operating profit, with revenue up 16.2% year on year and operating profit up 40.7%.
  20. FY2021AdvancedAnnual report

    「As a result, revenue was ¥3,589.096 million, up 13.3% year on year, and operating profit was ¥492.914 million, up 16.4%.」

    The golf business continued to grow, with revenue up 13.3% and operating profit up 16.4% for the period.
  21. FY2021-Q3AdvancedAnnual report

    「As a result, revenue was ¥2,679.765 million, up 13.0% year on year, and operating profit was ¥366.214 million, up 16.9%.」

    The golf business reported a 13.0% year-on-year increase in revenue and a 16.9% increase in operating profit, continuing its growth in both revenue and profit.
  22. FY2021-Q2AdvancedAnnual report

    「As a result, revenue was ¥1,765.918 million, up 8.8% year on year, and operating profit was ¥241.366 million, up 10.1%.」

    The golf business reported an 8.8% year-on-year increase in revenue and a 10.1% increase in operating profit, securing higher revenue and profit even amid COVID-19.
  23. FY2021-Q1AdvancedAnnual report

    「As a result, revenue was ¥796.386 million, up 3.1% year on year, and operating profit was ¥102.115 million, up 4.2%.」

    Despite the impact of reduced demand due to COVID-19, the golf business reported a 3.1% year-on-year increase in revenue and a 4.2% increase in operating profit.
  24. FY2020-Q3AdvancedAnnual report

    「As a result, revenue was ¥2,371.207 million, up 10.0% year on year, and operating profit was ¥313.140 million, up 4.2%.」

    The golf business reported a 10.0% year-on-year increase in revenue and a 4.2% increase in operating profit, returning to higher revenue and profit.
  25. FY2020-Q2AdvancedAnnual report

    「As a result, revenue was ¥1,622.429 million, up 11.9% year on year, and operating profit was ¥219.219 million, up 9.1%.」

    The golf business reported an 11.9% year-on-year increase in revenue and a 9.1% increase in operating profit, resulting in higher revenue and profit for the second consecutive quarter.
  26. FY2020-Q1AdvancedAnnual report

    「As a result, revenue was ¥772.490 million, up 10.3% year on year, and operating profit was ¥97.954 million, up 10.4%.」

    The golf business reported a 10.3% year-on-year increase in revenue and a 10.4% increase in operating profit.
  27. FY2019Higher operating income despite lower revenueAnnual report

    「The golf business generated revenue of ¥2,879.337 million, down 0.9% year on year, and operating profit of ¥417.478 million, up 0.9%.」

    The golf business posted a slight decline in revenue, while operating profit increased slightly.
  28. FY2019-Q3WorsenedAnnual report

    「As a result, revenue was ¥2,155.075 million, down 0.9% year on year, and operating profit was ¥300.380 million, down 2.1%.」

    The golf business reported a 0.9% year-on-year decline in revenue and a 2.1% decline in operating profit, resulting in lower revenue and profit.
  29. FY2019-Q2WorsenedAnnual report

    「As a result, revenue was ¥1,479.747 million, up 2.2% year on year, and operating profit was ¥201.194 million, down 4.4%.」

    The golf business generated higher revenue, while operating profit declined 4.4% year on year, continuing the decline in profit despite revenue growth.
  30. FY2019-Q1WorsenedAnnual report

    「As a result, revenue was ¥711.729 million, up 3.7% year on year, and operating profit was ¥87.736 million, down 5.5%.」

    The golf business generated higher revenue, while operating profit declined 5.5% year on year.
  31. FY2018-Q3AdvancedAnnual report

    「As a result, revenue was ¥2,179.668 million, up 164.0% year on year, and operating profit was ¥310.537 million, up 37.3%.」

    For the cumulative third quarter, the golf business reported a 164.0% year-on-year increase in revenue and a 37.3% increase in operating profit.
  32. FY2018-Q2First statedAnnual report

    「As a result, revenue was ¥1,447.456 million, up 275.2% year on year, and operating profit was ¥210.382 million, up 28.4%.」

    For the cumulative second quarter, the golf business reported a 275.2% year-on-year increase in revenue and a 28.4% increase in operating profit.
Moved together

"Expansion in the number of golf courses contracted with "1-Person Reservation Land" and the number of people making reservations" moved the same way as this thread, in the same document, in 18 of its 33 moves.

181717161514★123456
  1. ★This thread
  2. 1Expansion in the number of golf courses contracted with "1-Person Reservation Land" and the number of people making reservations18×
  3. 2Service Expansion Through the Acquisition and Subsidiarization of 株式会社ジープ17×
  4. 3Expanding awareness and the membership base of “1人予約ランド” (single-player golf reservation service)17×
  5. 4Substantial Revenue Growth and Expansion of Operating Profit and Net Income16×
  6. 5Transition from a low-margin, high-volume model to high-value-added travel services15×
  7. 6Expansion of Golf Advertising and Lesson Services14×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for Value Golf yet. It last moved in the Earnings of 2026-09-14: "Other".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Substantial Revenue Growth and Operating Profit Expansion in the Golf Business | VALUE GOLF Inc. (3931) | Komori