Results for this period
Full year1 March 2025–28 February 2026Non-consolidated (standalone)Japanese GAAPThe width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Gross profit declined to 70.0% of the previous year’s level due to lower revenue. Selling, general and administrative expenses declined to 90.6% of the previous year’s level due to lower operating lease rent, advertising expenses and personnel expenses, while the company recorded an ¥838 million impairment loss on crypto assets, and revenue and gross profit declined.
The filing includes disclosure of events and conditions that raise substantial doubt about the going-concern assumption. Although the company has recorded operating losses for 8 consecutive fiscal years, it raised ¥3,639 million through the exercise of stock acquisition rights issued by way of a third-party allotment and has determined that, at present, no material uncertainty exists regarding the going-concern assumption.
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Non-consolidated (standalone) |
| Period Covered | 1 March 2025–28 February 2026 |
| Net Sales | ¥11,590 million (YoY -11.6%) |
| Operating profit | ¥-2,383 million |
| Ordinary income | ¥-2,644 million |
| Profit attributable to owners of the parent | ¥-3,076 million |
| Net income per share | △138.51 |
| Operating Margin | Current fiscal year -20.6 % / Previous period -9.3 % |
| Equity ratio | End of the current fiscal period 25.3 % / End of previous period 16.9 % |
| Total assets | ¥7,093 million |
| Net assets | ¥1,797 million |
| Cash flows from operating activities | ¥-4,065 million |
| Cash flows from investing activities | ¥236 million |
| Cash flows from financing activities | ¥3,623 million |
| Cash and cash equivalents at end of period | ¥1,756 million |
| Full-year earnings forecast | Period Covered 1 March 2026 to 28 February 2027 / Net Sales ¥20,300 million (YoY +75.1%) / Operating profit ¥350 million / Ordinary income ¥400 million / Net income ¥900 million |
| Annual Dividend Forecast | ¥0 → ¥0 |
| Segment revenue | Segment Apparel and Lifestyle Business / Net Sales Current fiscal year ¥12,429 million / Prior-year period ¥13,119 million / Year on year against the same period last year Not disclosed, Segment Finance and Investment Business / Net Sales Current fiscal year ¥-838 million / Prior-year period Not disclosed / Item Other Income / Year on year against the same period last year Not disclosed |
| Segment profit | Segment Apparel and Lifestyle Business / Segment profit ¥-1,545 million / Prior-year period ¥-1,213 million / Year on year against the same period last year Not disclosed, Segment Finance and Investment Business / Segment profit ¥-838 million / Prior-year period Not disclosed / Year on year against the same period last year Not disclosed |
| Depreciation and amortization | ¥100 million |
| Impairment loss | ¥440 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥314 million / Extraordinary loss Loss on Disposal of Fixed Assets ¥1 million, Loss on closure of stores ¥189 million, Impairment Losses ¥440 million, Loss on lease cancellation ¥2 million |
| Disclosure regarding the going concern assumption | The filing includes disclosure of events and conditions that raise substantial doubt about the going-concern assumption. Although the company has recorded operating losses for 8 consecutive fiscal years, it raised ¥3,639 million through the exercise of stock acquisition rights issued by way of a third-party allotment and has determined that, at present, no material uncertainty exists regarding the going-concern assumption. |
| Change in accounting policy | Changes due to revisions to standards Yes / Other changes No / Change in accounting estimate Yes / Restatement No |
| Changes in the scope of consolidation | New Number of companies 1 / Company name 株式会社コーエン / Acquisition date 2 March 2026 / Notes Disclosed as a material subsequent event / Excluded Not disclosed |
| Material subsequent events | The acquisition of all shares of 株式会社コーエン, making it a wholly owned subsidiary; the issuance of 46,100,000 new shares through a third-party allotment; the issuance of the 12th Series of stock acquisition rights equivalent to 30,660,000 shares; the issuance of ¥300 million in Series 1 unsecured bonds; and an investment of 124.8079 BTC in a crypto-asset-denominated fund. |
| Availability of Supplementary Financial Results Materials | No |
| Availability of Financial Results Briefing | Whether applicable No / Subject person Not disclosed |
| Issued Shares at Period-End | 25,747,638 |
| Treasury Shares at Period-End | 136,355 |
| Factors Behind Changes in Business Performance | Gross profit declined to 70.0% of the previous year’s level due to lower revenue. Selling, general and administrative expenses declined to 90.6% of the previous year’s level due to lower operating lease rent, advertising expenses and personnel expenses, while the company recorded an ¥838 million impairment loss on crypto assets, and revenue and gross profit declined. |
Items this document does not state (5)
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 company cited a decline in gross profit to 70.0% of the previous year’s level due to lower revenue, and a decline in selling, general and administrative expenses to 90.6% of the previous year’s level due to lower operating lease rent, advertising expenses and personnel expenses. It also recorded an impairment loss of ¥838 million on its crypto assets. The company additionally explained that costs such as raw materials and logistics costs had increased, while consumers had become more inclined to scrutinize product value against prices.