Worth reading
90Important
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
2959
¥ million (year-on-year change in first-half operating profit)Wording
Definitive
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ending February 2027, second quarter14 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥277,820 million+8.4%
Operating profit¥17,662 million+20.1%
Ordinary income¥16,435 million+19.7%
Net income¥10,364 million+18.8%
Selling, general and administrative expenses¥95,101 million
Operating profit margin6.4% (up 0.7 percentage points year on year)
Results for the three months of the current quarter
Net Sales
¥136,218 million+4.9%
Gross profit
¥50,926 million+6.2%
Operating profit
¥7,510 million-1.1%
Ordinary income
¥6,665 million-8.4%
Net income
¥3,708 million-14.8%
Full-year earnings forecast
Operating revenue
¥543,500 million
Net Sales
¥525,000 million
Gross profit
¥196,000 million
Operating revenue
¥18,500 million
Selling, General and Administrative Expenses
¥191,500 million
Operating profit
¥23,000 million
Ordinary income
¥21,000 million
Net income
¥12,500 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Outperforming the planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Year-on-year change in operating income
¥2,959 million
Personnel Expenses
¥2,400 million
Rent and other expenses
¥1,324 million
Distribution costs
¥1,087 million
Fees paid
¥631 million
Other
¥905 million
Impact on gross profit margin_Foreign exchange▲0.60%
Impact on gross profit margin_Price changes+0.83%
Impact on gross profit margin_Improvement in subsidiary gross profit margins, etc.+0.06%
New initiatives
- Aggressive opening of PRO-format stores
- Development of approximately 2,300 private-label SKUs
- Reorganization of logistics facilities and optimization of logistics operations
- Regular operation of autonomous-driving trucks
- Launch of an overseas trainee program
- Total share buybacks of ¥1.5 billion
Key KPIsA metric the company considers important as a management benchmark.
- Existing-store revenue4.1 %Year on year against the same period last year+4.1%
- Same-store customer traffic-0.1 %Year on year against the same period last year-0.1%
- Same-store spend per customer4.2 %Year on year against the same period last year+4.2%
- Private-label sales (consolidated)¥85,655 millionYear on year against the same period last year+7.7%
- Private-label products as a percentage of consolidated sales35.1 %Year on year against the same period last year+0.2%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Same-store customer trafficDown 0.1% year on year
Same-store spend per customer+4.2% year on year
Segment results
HC
Net Sales
¥182,417 million
Year on year against the same period last year+4.7%
Gross profit margin38.65%
Operating profit margin7.2%
PRO
Net Sales
¥83,657 million
Year on year against the same period last year+12.0%
Gross profit margin34.03%
Operating profit margin7.4%
建デポ
Net Sales
¥29,575 million
Year on year against the same period last year+8.3%
Gross profit margin31.40%
HIヒロセ
Net Sales
¥12,865 million
Year on year against the same period last year+3.6%
Gross profit margin29.92%
コーナンベトナム
Net Sales
¥2,320 million
Year on year against the same period last year+14.0%
Gross profit margin35.96%
Medium-term management plan targets
Plan periodFiscal years ending February 2026–February 2028
PRO-format sales
Target value¥190,000 million
Target fiscal yearFiscal year ending February 2028
Kohnan Plus membersMore than 1.6 million Kohnan Plus members (listed as a key strategic initiative)
Financial targets
ROE10% or higher
Actual results7.2% (as of February 2026)
Equity ratio34.3%
Debt-to-equity ratio1.26x
Market Size / Share
Industry-average same-store sales+1.5%
Number of stores and locations
Number of Stores at Period-End682 Location
Store openings and closures during the period14 openings, 3 closures
Capital expenditures
¥339 100 million second-quarter actual
Annual Dividend
Annual Dividend¥140 per share
Interim¥70 per share
End of period¥70 per share
Acquisition of treasury shares
15 Hundreds of millions of yen
Period14 October 2026–28 February 2027
Gross profit
Rate37.24%
Year-on-year change (points)0.29
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ending February 2027, second quarter |
| Net Sales | ¥277,820 million (YoY +8.4%) |
| Operating profit | ¥17,662 million (YoY +20.1%) |
| Ordinary income | ¥16,435 million (YoY +19.7%) |
| Net income | ¥10,364 million (YoY +18.8%) |
| Gross profit | Rate 37.24% / Year-on-year change (points) 0.29 |
| Operating profit margin | 6.4% (up 0.7 percentage points year on year) |
| Selling, general and administrative expenses | ¥95,101 million |
| Results for the three months of the current quarter | Net Sales ¥136,218 million (YoY +4.9%) / Gross profit ¥50,926 million (YoY +6.2%) / Operating profit ¥7,510 million (YoY -1.1%) / Ordinary income ¥6,665 million (YoY -8.4%) / Net income ¥3,708 million (YoY -14.8%) |
| Full-year earnings forecast | Operating revenue ¥543,500 million / Net Sales ¥525,000 million / Gross profit ¥196,000 million / Operating revenue ¥18,500 million / Selling, General and Administrative Expenses ¥191,500 million / Operating profit ¥23,000 million / Ordinary income ¥21,000 million / Net income ¥12,500 million |
| Self-assessment against the plan | Outperforming the plan |
| Segment results | HC Net Sales ¥182,417 million / Year on year against the same period last year 4.7 / Gross profit margin 38.65% / Operating profit margin 7.2% / PRO Net Sales ¥83,657 million / Year on year against the same period last year 12 / Gross profit margin 34.03% / Operating profit margin 7.4% / 建デポ Net Sales ¥29,575 million / Year on year against the same period last year 8.3 / Gross profit margin 31.40% / HIヒロセ Net Sales ¥12,865 million / Year on year against the same period last year 3.6 / Gross profit margin 29.92% / コーナンベトナム Net Sales ¥2,320 million / Year on year against the same period last year 14 / Gross profit margin 35.96% |
| Breakdown of Factors Affecting the Change | Year-on-year change in operating income ¥2,959 million / Personnel Expenses ¥2,400 million / Rent and other expenses ¥1,324 million / Distribution costs ¥1,087 million / Fees paid ¥631 million / Other ¥905 million / Impact on gross profit margin_Foreign exchange ▲0.60% / Impact on gross profit margin_Price changes +0.83% / Impact on gross profit margin_Improvement in subsidiary gross profit margins, etc. +0.06% |
| Key KPIs | Indicator name Existing-store revenue / Value 4.1 % / Year on year against the same period last year 4.1 %, Indicator name Same-store customer traffic / Value -0.1 % / Year on year against the same period last year -0.1 %, Indicator name Same-store spend per customer / Value 4.2 % / Year on year against the same period last year 4.2 %, Indicator name Private-label sales (consolidated) / Value ¥85,655 million / Year on year against the same period last year ¥7.7 million, Indicator name Private-label products as a percentage of consolidated sales / Value 35.1 % / Year on year against the same period last year 0.2 % |
| Unit price and quantity metrics | Same-store customer traffic Down 0.1% year on year / Same-store spend per customer +4.2% year on year |
| Number of stores and locations | Number of Stores at Period-End 682 Location / Store openings and closures during the period 14 openings, 3 closures |
| Medium-term management plan targets | Plan period Fiscal years ending February 2026–February 2028 / PRO-format sales Target value ¥190,000 million / Target fiscal year Fiscal year ending February 2028 / Kohnan Plus members More than 1.6 million Kohnan Plus members (listed as a key strategic initiative) |
| Financial targets | ROE 10% or higher / Actual results 7.2% (as of February 2026) / Equity ratio 34.3% / Debt-to-equity ratio 1.26x |
| Annual Dividend | Annual Dividend ¥140 per share / Interim ¥70 per share / End of period ¥70 per share |
| Acquisition of treasury shares | Amount 15 Hundreds of millions of yen / Period 14 October 2026–28 February 2027 |
| Capital expenditures | ¥339 100 million (second-quarter actual) |
| Market Size / Share | Industry-average same-store sales +1.5% |
| New initiatives | Aggressive opening of PRO-format stores, Development of approximately 2,300 private-label SKUs, Reorganization of logistics facilities and optimization of logistics operations, Regular operation of autonomous-driving trucks, Launch of an overseas trainee program, Total share buybacks of ¥1.5 billion |
Items this document does not state (7)
Progress against full-year forecastNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookPayout ratioOrders 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 the first half, increased demand for petroleum-derived products, air conditioners and related materials, and seasonal summer products, together with improved gross profit margins from controlling selling prices, were the main drivers of higher revenue and profit and the outperformance of the plan. In the second quarter alone, operating profit and all profit measures below it declined because the increase in selling, general and administrative expenses exceeded the increase in gross profit.
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