Worth reading
90Important
Scored from 5 of 6 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
7.1
¥100 million (year-on-year increase in operating income)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ending March 2027: second quarter10 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥7,310 million+46.9%
Operating profit¥270 million
Gross Profit Margin27.8 %
Results for the three months of the current quarter
Net Sales
¥3,663 million+45.5%
Gross profit
¥1,031 million+43.8%
Selling, general and administrative expenses
¥892 million+1.5%
Operating profit
¥139 million
Operating profit margin
3.8 %
yoy_change_pt10.2
Full-year earnings forecast
Net Sales
¥22,251 million
Operating profit
¥1,315 million
Ordinary income
¥1,137 million
Net income
¥625 million
Reuse sales
¥19,215 million
Pawn interest revenue
¥925 million
In-home purchasing revenue
¥1,757 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。
Consolidated revenue32.9%
Daikokuya net sales33.3%
Daikokuya gross profit39.6%
Daikokuya selling, general and administrative expenses42.6%
Daikokuya operating income33.3% (the materials also state 144% against budget)
ラックスワイズ revenue29.0%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Operating income exceeded budget. Daikokuya’s operating income was 144% of the cumulative second-quarter budget.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Increase in Daikokuya revenueInventory build-up, growth at existing stores, and new store openings and reopening of sales
Increase in Daikokuya operating profitSales recovery and control of selling, general and administrative expenses
Daikokuya revenue and gross profit variance from current run rate
Growth at existing stores1,200
New store openings and resumed sales1,200
ラックスワイズ operating profit variance from current run rate
July–September operating profit level180
Additional upside from progress in sales hiring and other factors20
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Period-end merchandise inventory¥4.6 billion
Cross ratio0.90
Existing-store sales assumptionMaintain October sales at ¥880 million
ラックスワイズ operating profit assumption¥30 million/month × 6 months + an additional ¥20 million
New initiatives
- Plan to introduce an international remittance service in December
- Plan to launch live commerce on 13 November
- Plan to hold a joint event with Bellco in December
- Referral partnership for estate-clearance projects
- Increase call center staffing and expand the Osaka and Fukuoka sales offices
- Secure home-visit purchasing staff through franchise and outsourcing agreements
- Consider commercializing finance and receivables purchasing for corporate customers
Key KPIsA metric the company considers important as a management benchmark.
Merchandise inventory (Daikokuya standalone)
¥3,500 million+216.8%
Cross ratio (years)
0.9 times
Profit generated per visit
¥17,204
Gross profit per visit
¥26,924
Appointment acquisition cost per appointment
¥9,720
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Number of visits
1Q2,569 Deals
2Q2,331 Deals
Appointments per person per day
1Q5.8 Deals
2Q5.3 Deals
Profit generated per visit
¥17,204
Gross profit per visit
¥26,924
Appointment acquisition cost per appointment
¥9,720
Segment results
Daikokuya
Net Sales
¥6,697 million+39.0%
Operating profit
¥454 million
In-home purchasing and ラックスワイズ
Net Sales
¥509 million
Operating profit
¥-1 million
2Q standalone revenue
¥341 million
2Q standalone operating profit
¥58 million
Medium-term management plan targets
The company aims to achieve its medium-term management plan and increase corporate value. Specific targets and fiscal years for the medium-term management plan: Not disclosedNumber of stores and locations
Number of stores24 stores nationwide (15 sales stores)
Openings and closures during the periodOpened a new Nakano Broadway store and resumed sales at the Ikebukuro and Kobe Motomachi stores, among others. The number of other store openings and closures: Not disclosed
Number of employees
Number of EmployeesHome-visit purchasing: 22 FS staff, 20 operators and 4 sales staff added
Hiring planThe company plans to continue adding approximately 20–30 call center staff and intends to hire 2–4 new employees per month.
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ending March 2027: second quarter |
| Net Sales | ¥7,310 million (YoY +46.9%) |
| Operating profit | ¥270 million |
| Gross Profit Margin | 27.8 % |
| Results for the three months of the current quarter | Net Sales ¥3,663 million (YoY +45.5%) / Gross profit ¥1,031 million (YoY +43.8%) / Selling, general and administrative expenses ¥892 million (YoY +1.5%) / Operating profit ¥139 million / Operating profit margin 3.8 % |
| Full-year earnings forecast | Net Sales ¥22,251 million / Operating profit ¥1,315 million / Ordinary income ¥1,137 million / Net income ¥625 million / Reuse sales ¥19,215 million / Pawn interest revenue ¥925 million / In-home purchasing revenue ¥1,757 million |
| Progress against full-year forecast | Consolidated revenue 32.9% / Daikokuya net sales 33.3% / Daikokuya gross profit 39.6% / Daikokuya selling, general and administrative expenses 42.6% / Daikokuya operating income 33.3% (the materials also state 144% against budget) / ラックスワイズ revenue 29.0% |
| Self-assessment against the plan | Operating income exceeded budget. Daikokuya’s operating income was 144% of the cumulative second-quarter budget. |
| Segment results | Daikokuya Net Sales ¥6,697 million (YoY +39.0%) / Operating profit ¥454 million / In-home purchasing and ラックスワイズ Net Sales ¥509 million / Operating profit ¥-1 million / 2Q standalone revenue ¥341 million / 2Q standalone operating profit ¥58 million |
| Breakdown of Factors Affecting the Change | Increase in Daikokuya revenue Inventory build-up, growth at existing stores, and new store openings and reopening of sales / Increase in Daikokuya operating profit Sales recovery and control of selling, general and administrative expenses / Daikokuya revenue and gross profit variance from current run rate Growth at existing stores 1,200 / New store openings and resumed sales 1,200 / ラックスワイズ operating profit variance from current run rate July–September operating profit level 180 / Additional upside from progress in sales hiring and other factors 20 |
| Key KPIs | Merchandise inventory (Daikokuya standalone) ¥3,500 million (YoY +216.8%) / Cross ratio (years) 0.9 times / Profit generated per visit ¥17,204 / Gross profit per visit ¥26,924 / Appointment acquisition cost per appointment ¥9,720 |
| Unit price and quantity metrics | Number of visits 1Q 2,569 Deals / 2Q 2,331 Deals / Appointments per person per day 1Q 5.8 Deals / 2Q 5.3 Deals / Profit generated per visit ¥17,204 / Gross profit per visit ¥26,924 / Appointment acquisition cost per appointment ¥9,720 |
| Number of stores and locations | Number of stores 24 stores nationwide (15 sales stores) / Openings and closures during the period Opened a new Nakano Broadway store and resumed sales at the Ikebukuro and Kobe Motomachi stores, among others. The number of other store openings and closures: Not disclosed |
| Number of employees | Number of Employees Home-visit purchasing: 22 FS staff, 20 operators and 4 sales staff added / Hiring plan The company plans to continue adding approximately 20–30 call center staff and intends to hire 2–4 new employees per month. |
| Assumptions Underlying the Business Outlook | Period-end merchandise inventory ¥4.6 billion / Cross ratio 0.90 / Existing-store sales assumption Maintain October sales at ¥880 million / ラックスワイズ operating profit assumption ¥30 million/month × 6 months + an additional ¥20 million |
| Medium-term management plan targets | The company aims to achieve its medium-term management plan and increase corporate value. Specific targets and fiscal years for the medium-term management plan: Not disclosed |
| New initiatives | Plan to introduce an international remittance service in December, Plan to launch live commerce on 13 November, Plan to hold a joint event with Bellco in December, Referral partnership for estate-clearance projects, Increase call center staffing and expand the Osaka and Fukuoka sales offices, Secure home-visit purchasing staff through franchise and outsourcing agreements, Consider commercializing finance and receivables purchasing for corporate customers |
Items this document does not state (13)
Ordinary incomeNet incomeOperating profit marginSelling, general and administrative expensesRisk 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.At Daikokuya, the recovery in sales from inventory build-up and the control of selling, general and administrative expenses contributed to results. In home-visit purchasing, M&A procedures and organizational preparations were completed, and the business became profitable on a standalone basis in the second quarter. In the second half, the company plans to increase earnings through the reopening of stores where sales had been suspended, inventory build-up, increased call center staffing and external partnerships.
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.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.