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
10.7
Year-on-year change in revenue (%)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationSecond quarter of the fiscal year ending March 20277 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales2,004 Millions of yen+10.7%
Operating profit6 Millions of yen-52.0%
Ordinary income9 Millions of yen-32.9%
Net income5 Millions of yen-24.0%
Gross Profit Margin33.3 %
Results for the three months of the current quarter
Net Sales
2,004 Millions of yen
Gross profit
666 Millions of yen
EBITDA
13 Millions of yen
Operating profit
6 Millions of yen
Ordinary income
9 Millions of yen
Net income for the current fiscal year
5 Millions of yen
Full-year earnings forecast
Net Sales
8,400 Millions of yen
Operating profit
220 Millions of yen
Ordinary income
220 Millions of yen
Profit attributable to owners of the parent
180 Millions of yen
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 Sales47.4
Operating profit1.9
Ordinary income3.7
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 gross profit36 Millions of yen
- O&S-42 Millions of yen
- S&M14 Millions of yen
- G&A-6 Millions of yen
- R&D-9 Millions of yen
New initiatives
- Strengthening CRM
- Expansion of product categories
- Expansion of next-day delivery coverage
- Development of medium-sized businesses and chain stores
- Acceleration of AI infrastructure implementation
Key KPIsA metric the company considers important as a management benchmark.
- Active users4,983 users+5.5%
- ARPU¥112 thousand+9.5%
- OPEX ratio32.6 %yoy_change_pts-1.1
- EBITDA margin0.7 %yoy_change_pts-0.4
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Active users
4,983 users+5.5%
ARPU
¥112 thousand+9.5%
Segment results
- segmentBtoB commerceNet Sales1,687 Millions of yenYear on year against the same period last year+15.6%
- segmentBtoC commerceNet Sales256 Millions of yenYear on year against the same period last year-0.8%
- segmentHRNet Sales59 Millions of yenYear on year against the same period last year-34.5%
Medium-term management plan targets
Gross Profit Margin35-37%
OPEX ratio28-30%
EBITDA margin7-9%
Operating profit margin5-8%
Target fiscal yearMedium term
Market Size / Share
Domestic final consumption expenditure on food and beverages¥76 trillion
Food e-commerce market size (2024)¥3.1 trillion
Food e-commerce penetration rate4.5%
BtoB commerce TAM¥5 trillion
BtoB commerce SAM¥150 billion
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending March 2027 |
| Net Sales | 2,004 Millions of yen (YoY +10.7%) |
| Operating profit | 6 Millions of yen (YoY -52.0%) |
| Ordinary income | 9 Millions of yen (YoY -32.9%) |
| Net income | 5 Millions of yen (YoY -24.0%) |
| Gross Profit Margin | 33.3 % |
| Results for the three months of the current quarter | Net Sales 2,004 Millions of yen / Gross profit 666 Millions of yen / EBITDA 13 Millions of yen / Operating profit 6 Millions of yen / Ordinary income 9 Millions of yen / Net income for the current fiscal year 5 Millions of yen |
| Full-year earnings forecast | Net Sales 8,400 Millions of yen / Operating profit 220 Millions of yen / Ordinary income 220 Millions of yen / Profit attributable to owners of the parent 180 Millions of yen |
| Progress against full-year forecast | Net Sales 47.4 / Operating profit 1.9 / Ordinary income 3.7 / Profit attributable to owners of the parent Not disclosed |
| Segment results | segment BtoB commerce / Net Sales 1,687 Millions of yen / yoy_pct 15.6, segment BtoC commerce / Net Sales 256 Millions of yen / yoy_pct -0.8, segment HR / Net Sales 59 Millions of yen / yoy_pct -34.5 |
| Breakdown of Factors Affecting the Change | Factors Increase in gross profit / Amount 36 Millions of yen, Factors O&S / Amount -42 Millions of yen, Factors S&M / Amount 14 Millions of yen, Factors G&A / Amount -6 Millions of yen, Factors R&D / Amount -9 Millions of yen |
| Key KPIs | Active users 4,983 users (YoY +5.5%), ARPU ¥112 thousand (YoY +9.5%), OPEX ratio 32.6 %, EBITDA margin 0.7 % |
| Unit price and quantity metrics | Active users 4,983 users (YoY +5.5%) / ARPU ¥112 thousand (YoY +9.5%) |
| Medium-term management plan targets | Gross Profit Margin 35-37% / OPEX ratio 28-30% / EBITDA margin 7-9% / Operating profit margin 5-8% / Target fiscal year Medium term |
| Market Size / Share | Domestic final consumption expenditure on food and beverages ¥76 trillion / Food e-commerce market size (2024) ¥3.1 trillion / Food e-commerce penetration rate 4.5% / BtoB commerce TAM ¥5 trillion / BtoB commerce SAM ¥150 billion |
| New initiatives | Strengthening CRM, Expansion of product categories, Expansion of next-day delivery coverage, Development of medium-sized businesses and chain stores, Acceleration of AI infrastructure implementation |
Items this document does not state (14)
Operating profit marginSelling, general and administrative expensesSelf-assessment against the planNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookFinancial 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.In B2B commerce, the number of active users and ARPU increased. On the earnings front, the gross profit margin declined due to lower revenue in the higher-margin HR business, while EBITDA deteriorated due to higher shipping-related costs and personnel expenses resulting from increased shipping volumes and inflation.
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.