Worth reading
63In focus
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
1.2
Year-on-year change in revenue (%)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportSecond quarter of the fiscal year ending September 202612 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥20,517 million+1.2%
Operating profit¥2,311 million-8.8%
Ordinary income¥2,352 million-7.2%
Net income¥1,619 million+73.0%
Operating profit margin
Rate11.3%
Year-on-year change (points)-1.2
Results for the three months of the current quarterRevenue for the second quarter of the fiscal year ending September 2026 was ¥9,872 million, up 0.6% year on year. Standalone quarterly profit figures were Not disclosed.
Full-year earnings forecast
Net Sales
¥45,000 million
Cosmetics net sales
¥35,300 million
Healthcare revenue
¥9,700 million
Operating profit
¥5,000 million
Ordinary income
¥5,020 million
Profit attributable to owners of the parent
¥3,400 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Cosmetics fell short of plan, while Healthcare exceeded plan. On a company-wide basis, revenue was ¥1,062 million below plan and operating profit was ¥228 million below plan.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Change in operating profit
Operating profit, 2Q of fiscal year ended September 2025
25.3 Hundreds of millions of yen
Growth in Fun and Health
1.8 Hundreds of millions of yen
Revenue increase
1 Hundreds of millions of yen
Gross Margin
0 Hundreds of millions of yen
Advertising expenses
-4.3 Hundreds of millions of yen
Selling and Marketing Expenses
0.6 Hundreds of millions of yen
FF costs
0.6 Hundreds of millions of yen
Other SG&A expenses
0.6 Hundreds of millions of yen
Operating profit, 2Q of fiscal year ending September 2026
23.1 Hundreds of millions of yen
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The operating assumptions for mail-order sales, wholesale sales and overseas sales are provided in narrative form, but numerical assumptions for foreign exchange rates, raw material prices and interest rates were Not disclosed.New initiatives
- Launch of new and limited-edition products and promotions commemorating PERFECT ONE's 20th anniversary
- Launch of a new pore-care line and new products under PERFECT ONE FOCUS
- Expansion of the Slimore series, including Slimore Latte and sleep beauty foods
- Second-half rollout of Slimore Coffee and W's Healthy Green Juice in the United States
- Strengthening CRM through ARATA, using the customer database and AI
- Improving operational efficiency through call forecasting and demand forecasting
Key KPIsA metric the company considers important as a management benchmark.
- Year-on-year increase in the number of subscription customers2.1 10,000 peopleYear on year against the same period last year+21,000 people year on year
- Cumulative sales of the PERFECT ONE all-in-one beauty serum gel series9,000 10,000 units
- Customer database660 10,000 people
- Number of stores carrying Slimore Coffee9,700 Location
- PERFECT ONE domestic sales shareNo.1
- PERFECT ONE FOCUS cleansing balm domestic sales shareNo.2
Segment results
Cosmetics
Net Sales
¥15,434 million-8.3%
Healthcare
Net Sales
¥5,083 million+47.6%
Medium-term management plan targets
Fun and HealthExpected to achieve ¥10 billion in revenue ahead of schedule
Financial targets
Financial targets were Not disclosed. For reference, the equity ratio at the end of the second quarter of the fiscal year ending September 2026 was 82.5%.Market Size / Share
- All-in-one products market¥130.2 billionAs of2024 resultsShareNo. 1 in domestic sales
- Foods with function claims: green juice market¥12.9 billionAs of2024 resultsShareNo.1
- Cleansing balm market¥22.7 billionAs of2024 resultsShareNo. 2 in domestic sales
- Foods with function claims: powdered, granulated and instant coffee marketShareNo.1
- Diet-related market¥134.0 billionAs of2025 forecast
Number of stores and locations
Slimore Coffee is available at approximately 9,700 stores. The total number of stores at the end of the period and the number of store openings and closures during the period were Not disclosed.Number of employees
Number of Employees316 People
StandardFiscal year ended September 2025
Payout ratio
30.0% for the fiscal year ended September 2022, 29.6% for the fiscal year ended September 2023, 34.7% for the fiscal year ended September 2024, and 43.2% for the fiscal year ended September 2025. The figure for the fiscal year ending September 2026 was Not disclosed.| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | Second quarter of the fiscal year ending September 2026 |
| Net Sales | ¥20,517 million (YoY +1.2%) |
| Operating profit | ¥2,311 million (YoY -8.8%) |
| Ordinary income | ¥2,352 million (YoY -7.2%) |
| Net income | ¥1,619 million (YoY +73.0%) |
| Operating profit margin | Rate 11.3% / Year-on-year change (points) -1.2 |
| Results for the three months of the current quarter | Revenue for the second quarter of the fiscal year ending September 2026 was ¥9,872 million, up 0.6% year on year. Standalone quarterly profit figures were Not disclosed. |
| Full-year earnings forecast | Net Sales ¥45,000 million / Cosmetics net sales ¥35,300 million / Healthcare revenue ¥9,700 million / Operating profit ¥5,000 million / Ordinary income ¥5,020 million / Profit attributable to owners of the parent ¥3,400 million |
| Self-assessment against the plan | Cosmetics fell short of plan, while Healthcare exceeded plan. On a company-wide basis, revenue was ¥1,062 million below plan and operating profit was ¥228 million below plan. |
| Segment results | Cosmetics Net Sales ¥15,434 million (YoY -8.3%) / Healthcare Net Sales ¥5,083 million (YoY +47.6%) |
| Breakdown of Factors Affecting the Change | Change in operating profit Operating profit, 2Q of fiscal year ended September 2025 25.3 Hundreds of millions of yen / Growth in Fun and Health 1.8 Hundreds of millions of yen / Revenue increase 1 Hundreds of millions of yen / Gross Margin 0 Hundreds of millions of yen / Advertising expenses -4.3 Hundreds of millions of yen / Selling and Marketing Expenses 0.6 Hundreds of millions of yen / FF costs 0.6 Hundreds of millions of yen / Other SG&A expenses 0.6 Hundreds of millions of yen / Operating profit, 2Q of fiscal year ending September 2026 23.1 Hundreds of millions of yen |
| Key KPIs | Indicator name Year-on-year increase in the number of subscription customers / Value 2.1 10,000 people / Year on year against the same period last year +21,000 people year on year, Indicator name Cumulative sales of the PERFECT ONE all-in-one beauty serum gel series / Value 9,000 10,000 units / Year on year against the same period last year Not disclosed, Indicator name Customer database / Value 660 10,000 people / Year on year against the same period last year Not disclosed, Indicator name Number of stores carrying Slimore Coffee / Value 9,700 Location / Year on year against the same period last year Not disclosed, Indicator name PERFECT ONE domestic sales share / Value No.1 / Year on year against the same period last year Not disclosed, Indicator name PERFECT ONE FOCUS cleansing balm domestic sales share / Value No.2 / Year on year against the same period last year Not disclosed |
| Number of stores and locations | Slimore Coffee is available at approximately 9,700 stores. The total number of stores at the end of the period and the number of store openings and closures during the period were Not disclosed. |
| Number of employees | Number of Employees 316 People / Standard Fiscal year ended September 2025 / Changes during the period and hiring plan Not disclosed |
| Assumptions Underlying the Business Outlook | The operating assumptions for mail-order sales, wholesale sales and overseas sales are provided in narrative form, but numerical assumptions for foreign exchange rates, raw material prices and interest rates were Not disclosed. |
| Medium-term management plan targets | Fun and Health Expected to achieve ¥10 billion in revenue ahead of schedule / Target fiscal year Not disclosed |
| Financial targets | Financial targets were Not disclosed. For reference, the equity ratio at the end of the second quarter of the fiscal year ending September 2026 was 82.5%. |
| Payout ratio | 30.0% for the fiscal year ended September 2022, 29.6% for the fiscal year ended September 2023, 34.7% for the fiscal year ended September 2024, and 43.2% for the fiscal year ended September 2025. The figure for the fiscal year ending September 2026 was Not disclosed. |
| Market Size / Share | Market All-in-one products market / Market Size ¥130.2 billion / As of 2024 results / Share No. 1 in domestic sales, Market Foods with function claims: green juice market / Market Size ¥12.9 billion / As of 2024 results / Share No.1, Market Cleansing balm market / Market Size ¥22.7 billion / As of 2024 results / Share No. 2 in domestic sales, Market Foods with function claims: powdered, granulated and instant coffee market / Market Size Not disclosed / As of Not disclosed / Share No.1, Market Diet-related market / Market Size ¥134.0 billion / As of 2025 forecast / Share Not disclosed |
| New initiatives | Launch of new and limited-edition products and promotions commemorating PERFECT ONE's 20th anniversary, Launch of a new pore-care line and new products under PERFECT ONE FOCUS, Expansion of the Slimore series, including Slimore Latte and sleep beauty foods, Second-half rollout of Slimore Coffee and W's Healthy Green Juice in the United States, Strengthening CRM through ARATA, using the customer database and AI, Improving operational efficiency through call forecasting and demand forecasting |
Items this document does not state (10)
Gross Profit MarginSelling, general and administrative expensesProgress against full-year forecastUnit price and quantity metricsRisk amount incorporated into the outlookAnnual DividendAcquisition 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 Healthcare, revenue grew as a result of increased advertising investment in Slimore Coffee. In Cosmetics, advertising investment was restrained, while Wholesale sales were affected by a decline in inbound demand. Operating profit was affected by additional advertising expenses. The Company executed approximately ¥500 million in total investment reallocations and additional investments, aiming to achieve its full-year plan through revenue growth in the second half.
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