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Financial results presentation7085CURVES HOLDINGS Co.,Ltd.Information and Communications, Services and Others

Supplementary Explanatory Materials for the Fiscal Year Ending August 2026 Results

For the fiscal year ended August 2026, sales, operating profit and chain-wide sales reached record highs and exceeded the full-year forecasts. Growth in membership and expanded sales of products to members drove performance, and the company expects higher sales, higher profit and an increased dividend for the fiscal year ending August 2027.

Worth reading
84Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
1413
Millions of yen (year-on-year increase in operating profit)
Wording
Definitive
How definitive the wording is.

Contents of this document

Financial results presentationFull year ended August 202612 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥43,387 million+15.5%
Operating profit¥7,755 million+22.3%
Ordinary income¥7,573 million+16.8%
Net income¥4,908 million+14.1%
Gross Profit Margin42.3 %
Operating profit margin17.9 %
Selling, general and administrative expenses¥10,576 million
Results for the three months of the current quarter
Net Sales
¥11,817 million+20.3%
Operating profit
¥1,604 million+23.6%
Ordinary income
¥1,566 million+11.1%
Net income
¥1,088 million+1.4%
Full-year earnings forecast
Net Sales
¥46,000 million
Operating profit
¥8,700 million
Ordinary income
¥8,600 million
Net income
¥5,450 million
Year-end members960,000–970,000, 930,000 or more, with forecasts also available by other brand
Number of Stores at Period-End2,182 stores, 2,026 stores, 80 stores, 76 stores
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Year-on-Year Increase in Gross Profit2,282
Year-on-year increase in SG&A869
Year-on-year increase in operating profit1,413
Year-on-Year Revenue Growth5,821
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Average exchange rate during the periodUSD/JPY 154.52
New initiatives
  • Plans to launch new protein products with improved quality and lower costs
  • Accelerating store openings for Men's Curves
  • Expanding the target for openings of the Karada Ugoki Recovery Center “Pinto-Up” service from 30 to 360 companies
  • Strengthening the online service “Curves at Home W Plan”
  • Expanding collaboration with local governments and medical institutions
Key KPIsA metric the company considers important as a management benchmark.
  • Chain sales¥934 100 million+9.1%
  • Membership count (total across all brands)91.9 10,000 people
    Year on year against the same period last yearUp 41,000 from the end of the previous fiscal year
  • Curves members89.5 10,000 people
    Year on year against the same period last yearUp 32,000 from the end of the previous fiscal year
  • Full-year average monthly churn rate2.12 %
  • Number of online service users56.9 10,000 people
  • ROIC18.2 %
  • EBITDA¥10,135 million+18.0%
  • FCF¥6,379 million
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Membership Fee Price RevisionMonthly fee increased by ¥300 for new members from September 2025 and for existing members from April 2026
Membership895,000
Merchandise for members¥26.7 billion
Number of Subscription Delivery ContractsRecord high
Segment results
Domestic
Net Sales¥42,718 million
Year on year against the same period last year+15.5%
Operating profit¥9,789 million
Operating Profit YoY (%)¥16.5 million
Overseas expansion
Net Sales¥669 million
Year on year against the same period last year+17.0%
Operating profit¥-261 million
Adjustments
Operating profit-1,772
Medium-term management plan targets
Fiscal year ending August 2030
Number of stores2,600 stores
Membership1.2 million members
Chain sales¥130 billion
Net Sales¥56 billion
Operating profit¥10.3 billion
Fiscal year ending August 2035
Number of stores3,500 stores
Membership1.5 million members
Chain sales¥200 billion
Net Sales¥85 billion
Operating profit¥20 billion
Financial targets
Operating income CAGR10% or higher
EBITDA CAGR10% or higher
FCF CAGR10% or higher
ROIC15% target
Number of stores and locations
Number of Stores at Period-End2,112 Location
Store openings during the period+54 stores (total across all brands)
Annual Dividend
¥32 per share
Interim16
End of period16
Payout ratio
52.3 %
PolicyTargeting a consolidated payout ratio of 50%
Acquisition of treasury shares
¥2,763 million
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFull year ended August 2026
Net Sales¥43,387 million (YoY +15.5%)
Operating profit¥7,755 million (YoY +22.3%)
Ordinary income¥7,573 million (YoY +16.8%)
Net income¥4,908 million (YoY +14.1%)
Gross Profit Margin42.3 %
Operating profit margin17.9 %
Selling, general and administrative expenses¥10,576 million
Results for the three months of the current quarterNet Sales ¥11,817 million (YoY +20.3%) / Operating profit ¥1,604 million (YoY +23.6%) / Ordinary income ¥1,566 million (YoY +11.1%) / Net income ¥1,088 million (YoY +1.4%)
Full-year earnings forecastNet Sales ¥46,000 million / Operating profit ¥8,700 million / Ordinary income ¥8,600 million / Net income ¥5,450 million / Year-end members 960,000–970,000, 930,000 or more, with forecasts also available by other brand / Number of Stores at Period-End 2,182 stores, 2,026 stores, 80 stores, 76 stores
Segment resultsDomestic Net Sales ¥42,718 million / yoy_pct ¥15.5 million / Operating profit ¥9,789 million / Operating Profit YoY (%) ¥16.5 million / Overseas expansion Net Sales ¥669 million / yoy_pct ¥17 million / Operating profit ¥-261 million / Adjustments Operating profit -1,772
Breakdown of Factors Affecting the ChangeYear-on-Year Increase in Gross Profit 2,282 / Year-on-year increase in SG&A 869 / Year-on-year increase in operating profit 1,413 / Year-on-Year Revenue Growth 5,821
Key KPIsChain sales ¥934 100 million (YoY +9.1%), Membership count (total across all brands) 91.9 10,000 people, Curves members 89.5 10,000 people, Full-year average monthly churn rate 2.12 %, Number of online service users 56.9 10,000 people, ROIC 18.2 %, EBITDA ¥10,135 million (YoY +18.0%), FCF ¥6,379 million
Unit price and quantity metricsMembership Fee Price Revision Monthly fee increased by ¥300 for new members from September 2025 and for existing members from April 2026 / Membership 895,000 / Merchandise for members ¥26.7 billion / Number of Subscription Delivery Contracts Record high
Number of stores and locationsNumber of Stores at Period-End 2,112 Location / Store openings during the period +54 stores (total across all brands)
Assumptions Underlying the Business OutlookAverage exchange rate during the period USD/JPY 154.52
Medium-term management plan targetsFiscal year ending August 2030 Number of stores 2,600 stores / Membership 1.2 million members / Chain sales ¥130 billion / Net Sales ¥56 billion / Operating profit ¥10.3 billion / Fiscal year ending August 2035 Number of stores 3,500 stores / Membership 1.5 million members / Chain sales ¥200 billion / Net Sales ¥85 billion / Operating profit ¥20 billion
Financial targetsOperating income CAGR 10% or higher / EBITDA CAGR 10% or higher / FCF CAGR 10% or higher / ROIC 15% target
Annual Dividend¥32 per share
Payout ratio52.3 %
Acquisition of treasury sharesAmount ¥2,763 million / Period Not disclosed
New initiativesPlans to launch new protein products with improved quality and lower costs, Accelerating store openings for Men's Curves, Expanding the target for openings of the Karada Ugoki Recovery Center “Pinto-Up” service from 30 to 360 companies, Strengthening the online service “Curves at Home W Plan”, Expanding collaboration with local governments and medical institutions
Items this document does not state (8)
Progress against full-year forecastSelf-assessment against the planNumber of employeesRisk amount incorporated into the outlookCapital 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.

The increase was driven by more new store openings, higher fitness equipment sales associated with contract renewals, membership growth, membership fee price revisions, and increased sales of products to members, along with a higher continuation rate and an improved skip rate. Operating profit benefited from increased royalty and other income resulting from membership growth and higher profit from sales of products to members. Selling, general and administrative expenses increased due to higher personnel expenses and higher depreciation expense resulting from system investments.

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Supplementary Explanatory Materials for the Fiscal Year Ending August 2026 Results | CURVES HOLDINGS Co.,Ltd. (7085) timely disclosure | Komori