Worth reading
68In 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
43.8
% (increase in the lower end of the full-year net income forecast)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsThird quarter of the fiscal year ending July 20266 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,443,348 thousand-7.9%
Operating profit¥-35,369 thousand
Ordinary income¥-39,485 thousand
Net income¥-42,742 thousand
Gross Profit Margin23.1 %
Selling, general and administrative expenses¥368,450 thousand
Results for the three months of the current quarter
Period CoveredFebruary-April
Gross transaction value
¥423,357 thousand-21.9%
Net Sales
¥407,598 thousand-24.0%
Gross profit
¥100,421 thousand+194.2%
Gross Profit Margin
24.6 %
Operating profit
¥-16,928 thousand
Ordinary income
¥-7,617 thousand
Net income
¥-7,768 thousand
Full-year earnings forecast
Net Sales
2,850〜3,050
Operating profit
310〜350
Ordinary income
300〜340
Net income for the current fiscal year
230〜260
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
In line with planNew initiatives
- Intellectual property collaboration cruise with 純烈 (Junretsu)
- Launch of an inbound business targeting East Asia
- Development of hotels in operating-hotel and serviced-apartment formats at Ebisu Ryokan
- Consideration aimed at deciding on an M&A investment during the current fiscal year
Key KPIsA metric the company considers important as a management benchmark.
- Number of site sessionsApproximately 90% of the year-earlier levelYear on year against the same period last yearApproximately 90%
- Number of courses automatically registered through API integration9,953 courses
- Number of M&A opportunities under consideration135 Projects
- Number of M&A opportunities under continuing consideration1 Projects
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Average ADR
¥11,508
Year on year against the same period last year+98.3%
Average OCC
91.2 %
Year on year against the same period last year+107.9%
Market Size / Share
Japanese cruise population1 million Japanese cruise passengers in 2030
Global cruise passengers37.2 million global cruise passengers in 2025
Global cruise market share by class
CasualApproximately 80%
PremiumApproximately 17%
Luxury and otherApproximately 3%
Number of employees
Number of Employees29 People
Reference dateAs of the end of July 2025
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Third quarter of the fiscal year ending July 2026 |
| Net Sales | ¥1,443,348 thousand (YoY -7.9%) |
| Operating profit | ¥-35,369 thousand |
| Ordinary income | ¥-39,485 thousand |
| Net income | ¥-42,742 thousand |
| Gross Profit Margin | 23.1 % |
| Selling, general and administrative expenses | ¥368,450 thousand |
| Results for the three months of the current quarter | Period Covered February-April / Gross transaction value ¥423,357 thousand (YoY -21.9%) / Net Sales ¥407,598 thousand (YoY -24.0%) / Gross profit ¥100,421 thousand (YoY +194.2%) / Gross Profit Margin 24.6 % / Operating profit ¥-16,928 thousand / Ordinary income ¥-7,617 thousand / Net income ¥-7,768 thousand |
| Full-year earnings forecast | Net Sales 2,850〜3,050 / Operating profit 310〜350 / Ordinary income 300〜340 / Net income for the current fiscal year 230〜260 |
| Self-assessment against the plan | In line with plan |
| Key KPIs | Indicator name Number of site sessions / Value Approximately 90% of the year-earlier level / Year on year against the same period last year Approximately 90%, Indicator name Number of courses automatically registered through API integration / Value 9,953 courses / Year on year against the same period last year Not disclosed, Indicator name Number of M&A opportunities under consideration / Value 135 Projects / Year on year against the same period last year Not disclosed, Indicator name Number of M&A opportunities under continuing consideration / Value 1 Projects / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Average ADR ¥11,508 / Average OCC 91.2 % |
| Number of employees | Number of Employees 29 People / Reference date As of the end of July 2025 |
| Market Size / Share | Japanese cruise population 1 million Japanese cruise passengers in 2030 / Global cruise passengers 37.2 million global cruise passengers in 2025 / Global cruise market share by class Casual Approximately 80% / Premium Approximately 17% / Luxury and other Approximately 3% |
| New initiatives | Intellectual property collaboration cruise with 純烈 (Junretsu), Launch of an inbound business targeting East Asia, Development of hotels in operating-hotel and serviced-apartment formats at Ebisu Ryokan, Consideration aimed at deciding on an M&A investment during the current fiscal year |
Items this document does not state (15)
Operating profit marginProgress against full-year forecastSegment resultsBreakdown of Factors Affecting the ChangeNumber of stores and locationsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioAcquisition 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.For the nine months ended April 2026, the loss widened from the six months ended January 2026 because advertising and promotional expenses for Golden Week departure cruises were incurred ahead of schedule, but the company considers performance to be in line with its plan. The upward revision to the full-year forecast reflects strong performance by the charter cruise operated in May 2026, solid sales of cruise packages independently operated by cruise lines, particularly those involving purchased cabins, and record highs in passenger numbers, revenue and gross profit for charter cruises.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.