Worth reading
55In 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
252
¥ millions (improvement in operating loss)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFiscal year ending March 2026, full year8 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥11,472 million+112.1%
Operating profit¥-652 million
Ordinary income¥-881 million
Net income¥-2,053 million
Selling, general and administrative expenses¥3,650 million
Results for the three months of the current quarter
大黒屋 standalone
Net Sales
¥3,286 million
Gross profit
¥680 million
Operating profit
¥-172 million
Adjusted operating profit
¥96 million
Gross Margin20.7%
Full-year earnings forecast
Net Sales
¥22,251 million
Operating profit
¥1,315 million
Ordinary income
¥1,137 million
Net income for the current fiscal year
¥625 million
Gross profit
¥5,300 million
Product inventory
¥4,600 million
Selling, general and administrative expenses
¥3,900 million
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 Sales110.1% of plan
Gross profit105.0% of plan
Product inventory209.7% of plan
Selling, general and administrative expenses105.6% of plan
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Increase in 大黒屋 revenueQ4 increased by ¥900 million year on year
- Q4 reduction in selling, general and administrative expensesReduced from ¥340 million in the prior-year period to approximately ¥280 million
- Loss on reversal of the foreign currency translation adjustment related to the transfer of shares in the UK subsidiary¥1,292 million
- Costs of liquidating the UK subsidiary¥68 million
- Gain on the liquidation of an affiliated company¥163 million
- Impairment losses on obsolete inventory, etc.¥46 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Merchandise inventory (period-end)46 Hundreds of millions of yen
- Cross ratio (years)0.9 times equivalent
- Effect of selling, general and administrative expense reductions¥10 100 million full-year basis
New initiatives
- Execution of an M&A transaction in the mobile purchasing business (acquisition consideration: ¥360 million)
- Expansion of the mobile purchasing business call center and increase in sales personnel
- Launch of a corporate financial services business
- Structuring and management of financial products investing in precious metals and other assets
- Development of precious metals into proprietary products
- Expansion of retail stores and opening of new stores
- Change in accounting policy to record marketplace fees in cost of sales
Key KPIsA metric the company considers important as a management benchmark.
- Merchandise inventory (period-end)31 Hundreds of millions of yen
- Cross ratio (years)0.94 times equivalent
- 大黒屋 standalone Q4 gross margin20.7 %Year on year against the same period last year30.2% in the prior-year period
- 大黒屋 standalone Q4 adjusted operating income¥96 million
- Operating income from the mobile purchasing business (preceding fiscal year)¥109 million
Segment results
Daikokuya
Net Sales
¥11,131 million
Revenue_yoy_pct112.4
Operating profit
¥-301 million
Merchandise sales revenue
¥10,222 million+112.8%
Pawn interest revenue
¥909 million+108.0%
Electrical equipment business
Net Sales
¥340 million
Revenue_yoy_pct103
Operating profit
¥127 million
Operating profit_yoy_pct112.4
Medium-term management plan targets
Target fiscal yearFiscal year ending March 2031
Revenue from existing businesses
300 Hundreds of millions of yen
Operating income from existing businesses
30 Hundreds of millions of yen
Operating income from M&A and related businesses
¥10 100 million assumed scale
Operating income from new businesses
¥10 100 million assumed scale
Comparison with actual resultsCompared with actual results for the fiscal year ending March 2026 and the plan for the fiscal year ending March 2027
Number of stores and locations
Number at period-end24 大黒屋 stores nationwide (15 retail stores)
Number of employees
Number of EmployeesThe mobile purchasing business has 75 call center staff and 21 field sales staff
Changes during the period and hiring planExpand the field sales team from 21 to approximately 40 people. Strengthen the sales and call center teams
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Fiscal year ending March 2026, full year |
| Net Sales | ¥11,472 million (YoY +112.1%) |
| Operating profit | ¥-652 million |
| Ordinary income | ¥-881 million |
| Net income | ¥-2,053 million |
| Selling, general and administrative expenses | ¥3,650 million |
| Results for the three months of the current quarter | 大黒屋 standalone Net Sales ¥3,286 million / Gross profit ¥680 million / Operating profit ¥-172 million / Adjusted operating profit ¥96 million / Gross Margin 20.7% |
| Full-year earnings forecast | Net Sales ¥22,251 million / Operating profit ¥1,315 million / Ordinary income ¥1,137 million / Net income for the current fiscal year ¥625 million / Gross profit ¥5,300 million / Product inventory ¥4,600 million / Selling, general and administrative expenses ¥3,900 million |
| Progress against full-year forecast | Net Sales 110.1% of plan / Gross profit 105.0% of plan / Product inventory 209.7% of plan / Selling, general and administrative expenses 105.6% of plan |
| Segment results | Daikokuya Net Sales ¥11,131 million / Revenue_yoy_pct 112.4 / Operating profit ¥-301 million / Operating profit_yoy_pct Not disclosed / Merchandise sales revenue ¥10,222 million (YoY +112.8%) / Pawn interest revenue ¥909 million (YoY +108.0%) / Electrical equipment business Net Sales ¥340 million / Revenue_yoy_pct 103 / Operating profit ¥127 million / Operating profit_yoy_pct 112.4 |
| Breakdown of Factors Affecting the Change | Factors Increase in 大黒屋 revenue / Amount Q4 increased by ¥900 million year on year, Factors Q4 reduction in selling, general and administrative expenses / Amount Reduced from ¥340 million in the prior-year period to approximately ¥280 million, Factors Loss on reversal of the foreign currency translation adjustment related to the transfer of shares in the UK subsidiary / Amount ¥1,292 million, Factors Costs of liquidating the UK subsidiary / Amount ¥68 million, Factors Gain on the liquidation of an affiliated company / Amount ¥163 million, Factors Impairment losses on obsolete inventory, etc. / Amount ¥46 million |
| Key KPIs | Indicator name Merchandise inventory (period-end) / Value 31 Hundreds of millions of yen / Year on year against the same period last year Not disclosed, Indicator name Cross ratio (years) / Value 0.94 times equivalent / Year on year against the same period last year Not disclosed, Indicator name 大黒屋 standalone Q4 gross margin / Value 20.7 % / Year on year against the same period last year 30.2% in the prior-year period, Indicator name 大黒屋 standalone Q4 adjusted operating income / Value ¥96 million / Year on year against the same period last year Not disclosed, Indicator name Operating income from the mobile purchasing business (preceding fiscal year) / Value ¥109 million / Year on year against the same period last year Not disclosed |
| Number of stores and locations | Number at period-end 24 大黒屋 stores nationwide (15 retail stores) / Number of store openings and closures during the period Not disclosed |
| Number of employees | Number of Employees The mobile purchasing business has 75 call center staff and 21 field sales staff / Changes during the period and hiring plan Expand the field sales team from 21 to approximately 40 people. Strengthen the sales and call center teams |
| Assumptions Underlying the Business Outlook | Item Merchandise inventory (period-end) / Value 46 Hundreds of millions of yen, Item Cross ratio (years) / Value 0.9 times equivalent, Item Effect of selling, general and administrative expense reductions / Value ¥10 100 million (full-year basis) |
| Medium-term management plan targets | Target fiscal year Fiscal year ending March 2031 / Revenue from existing businesses 300 Hundreds of millions of yen / Operating income from existing businesses 30 Hundreds of millions of yen / Operating income from M&A and related businesses ¥10 100 million (assumed scale) / Operating income from new businesses ¥10 100 million (assumed scale) / Comparison with actual results Compared with actual results for the fiscal year ending March 2026 and the plan for the fiscal year ending March 2027 |
| New initiatives | Execution of an M&A transaction in the mobile purchasing business (acquisition consideration: ¥360 million), Expansion of the mobile purchasing business call center and increase in sales personnel, Launch of a corporate financial services business, Structuring and management of financial products investing in precious metals and other assets, Development of precious metals into proprietary products, Expansion of retail stores and opening of new stores, Change in accounting policy to record marketplace fees in cost of sales |
Items this document does not state (13)
Gross Profit MarginOperating profit marginSelf-assessment against the planUnit price and quantity metricsRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / ShareKey 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.Revenue increased, mainly in the 大黒屋 business, as funds raised through a third-party allotment were used to build up store inventory. The operating loss narrowed as selling, general and administrative expenses were reduced through structural reforms, while net loss increased due to store impairment losses, software write-offs, and the winding down of the UK subsidiary.
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.