Komori
Financial results presentation5888DAIWA CYCLE CO.,LTD.Retail

Fiscal Year Ending January 2026 First-Quarter Earnings Presentation Materials

The first quarter of the fiscal year ending January 2026 saw higher revenue and profit, driven by increased same-store sales, strong sales of electric-assist bicycles and the opening of 5 stores. However, the gross profit margin and operating margin declined due to the higher sales mix of electric-assist bicycles and increased store opening-related expenses.

Worth reading
60In 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
16.6
Year-on-year revenue growth (%)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentation2026年1月期 第1四半期11 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥6,200 million+16.6%
Operating profit¥611 million+10.6%
Ordinary income¥630 million+14.8%
Net income¥414 million+13.6%
Gross Profit Margin40.9 %
Operating profit margin9.9 %
Selling, general and administrative expenses¥1,925 million
Results for the three months of the current quarter売上高6,200百万円、売上総利益2,537百万円、営業利益611百万円、経常利益630百万円、四半期純利益414百万円（2月～4月）
Full-year earnings forecast
Net Sales
¥20,586 million
Operating profit
¥1,389 million
Ordinary income
¥1,408 million
Net income for the current fiscal year
¥930 million
Number of stores
154 stores
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。
Net Sales30.1
Operating profit44
Ordinary income44.7
Net income for the current fiscal year44.6
What the company explained in this material
Key points of the Q&AKey questions raised by investors at the briefing and the company's answers
  1. 通期予想で売上高が二桁増収なのに営業利益の増益が小さい理由出店初期費用、採用コスト、広告宣伝費、出店初年度の修理割合の低さにより利益率が低下するため
  2. 為替影響PB商品のドル・元建て仕入れにより円安は原価上昇要因となるが、値上げなどで対応
  3. 季節変動春季が最需要期で、売上高と営業利益は上期に偏る
  4. 1Qの売上総利益率が低い理由自転車車体の販売割合が高く、車体の利益率が他カテゴリーより低いため
  5. 市場環境自転車小売市場は3,700億円程度、販売台数は減少傾向だが電動アシスト車など高単価商品の比率が上昇
  6. Shareholder benefits: the Company is not considering introducing a program at this time
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
売上高、売上原価、人件費、地代家賃、消耗品費、支払手数料、その他。従業員数増加、給与改定、新店13店増加が説明されているが、要因別金額はNot disclosed
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Assumed Exchange Rates¥150 per US dollar
Store Opening Plan20店舗（出店20、退店0）
New initiatives
  • 電動アシスト自転車の新シリーズ『ATOSS』を発表
  • スポーツバイクブランド『ARTMA』がBOTY 2025のベストパフォーマンスロード賞を受賞
  • 2026年1月期に20店舗を出店する計画
Key KPIsA metric the company considers important as a management benchmark.
  • Cumulative revenue at existing stores108.1 % year on year
  • Cumulative customer count at existing stores102 % year on year
  • Cumulative average spend per customer at existing stores106 % year on year
  • Private-label sales ratio30.3 %
    Year on year against the same period last year-2.8%
  • Sales mix of electric-assist bicycles63 %
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Number of Customers前年同期比102.0%
Average Spend per Customer前年同期比106.0%
Same-Store Sales前年同期比108.1%
Market Size / Share
3,700億円程度
Number of stores and locations
Number at period-end139店舗（2025年4月末）
Number of store openings and closures during the period出店5店舗、退店0店舗
Number of employees
Number of Employees797 people
Reference date2025年1月末
Annual Dividend
Annual dividend per share¥68
Payout ratio
20.1 %
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period Covered2026年1月期 第1四半期
Net Sales¥6,200 million (YoY +16.6%)
Operating profit¥611 million (YoY +10.6%)
Ordinary income¥630 million (YoY +14.8%)
Net income¥414 million (YoY +13.6%)
Gross Profit Margin40.9 %
Operating profit margin9.9 %
Selling, general and administrative expenses¥1,925 million
Results for the three months of the current quarter売上高6,200百万円、売上総利益2,537百万円、営業利益611百万円、経常利益630百万円、四半期純利益414百万円（2月～4月）
Full-year earnings forecastNet Sales ¥20,586 million / Operating profit ¥1,389 million / Ordinary income ¥1,408 million / Net income for the current fiscal year ¥930 million / Number of stores 154 stores
Progress against full-year forecastNet Sales 30.1 / Operating profit 44 / Ordinary income 44.7 / Net income for the current fiscal year 44.6
Breakdown of Factors Affecting the Change売上高、売上原価、人件費、地代家賃、消耗品費、支払手数料、その他。従業員数増加、給与改定、新店13店増加が説明されているが、要因別金額はNot disclosed
Key KPIsIndicator name Cumulative revenue at existing stores / Value 108.1 % year on year, Indicator name Cumulative customer count at existing stores / Value 102 % year on year, Indicator name Cumulative average spend per customer at existing stores / Value 106 % year on year, Indicator name Private-label sales ratio / Value 30.3 % / Year on year against the same period last year -2.8 %, Indicator name Sales mix of electric-assist bicycles / Value 63 %
Unit price and quantity metricsNumber of Customers 前年同期比102.0% / Average Spend per Customer 前年同期比106.0% / Same-Store Sales 前年同期比108.1%
Number of stores and locationsNumber at period-end 139店舗（2025年4月末） / Number of store openings and closures during the period 出店5店舗、退店0店舗
Number of employeesNumber of Employees 797 people / Reference date 2025年1月末
Assumptions Underlying the Business OutlookAssumed Exchange Rates ¥150 per US dollar / Store Opening Plan 20店舗（出店20、退店0）
Annual DividendAnnual dividend per share ¥68 / Breakdown Not disclosed
Payout ratioValue 20.1 %
Market Size / ShareMarket Size 3,700億円程度 / Company share Not disclosed
Key points of the Q&A通期予想で売上高が二桁増収なのに営業利益の増益が小さい理由：出店初期費用、採用コスト、広告宣伝費、出店初年度の修理割合の低さにより利益率が低下するため, 為替影響：PB商品のドル・元建て仕入れにより円安は原価上昇要因となるが、値上げなどで対応, 季節変動：春季が最需要期で、売上高と営業利益は上期に偏る, 1Qの売上総利益率が低い理由：自転車車体の販売割合が高く、車体の利益率が他カテゴリーより低いため, 市場環境：自転車小売市場は3,700億円程度、販売台数は減少傾向だが電動アシスト車など高単価商品の比率が上昇, Shareholder benefits: the Company is not considering introducing a program at this time
New initiatives電動アシスト自転車の新シリーズ『ATOSS』を発表, スポーツバイクブランド『ARTMA』がBOTY 2025のベストパフォーマンスロード賞を受賞, 2026年1月期に20店舗を出店する計画
Items this document does not state (8)
Self-assessment against the planSegment resultsRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAcquisition of treasury sharesCapital expendituresOrders received and order backlog

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.

売上高は既存店の増加および電動アシスト車販売の好調により増加した。営業利益は、電動アシスト車比率の増加に伴う売上総利益率の低下や、出店拡大による各種費用の増加があったものの、店舗当たり売上高の増加により増益となった。

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