Worth reading
81Important
Scored from 5 of 6 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
9243
¥ millions (operating profit, up 90.8% year on year)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationSecond quarter of the fiscal year ending December 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥72,361 million+50.7%
Operating profit¥9,243 million+90.8%
Ordinary income¥9,022 million+98.6%
Net income¥5,977 million+114.3%
Gross Profit Margin52.2 %
Operating profit margin12.8 %
Selling, general and administrative expenses¥28,560 million
Results for the three months of the current quarter
Net Sales
¥40,303 million
Operating profit
¥4,120 million
Full-year earnings forecast
Net Sales
¥140,000 million
Gross profit
¥76,000 million
Operating profit
¥15,600 million
Ordinary income
¥15,200 million
Profit attributable to owners of the parent
¥9,800 million
Dividend per share
¥27
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Exceeded the FY2026 plan, which was revised upward at the time of the first-quarter resultsAssumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Organic FY2027 performance targets assuming no new M&A transactions. Other numerical assumptions, including foreign exchange rates, raw material prices and interest rates, were not disclosedNew initiatives
- Basic agreement toward the establishment of a joint venture with a local Chinese partner, scheduled for September 2026 and premised on making it a subsidiary in the future
- Build a live-commerce sales network for China and North America
- Roll out the internally developed Cosmos reuse platform across the group
- Introduce AI automation for call-center and appraisal operations
- Integrate group inventory and sales data and optimize sales channels using AI
Key KPIsA metric the company considers important as a management benchmark.
- Number of home visits245,965 Engagements
- Variable profit per in-home visit¥63,226
- Gross profit per in-home visit¥93,169
- Advertising expenses per in-home visit¥29,943
- Repeat-visit rateBuySell: approximately 20%; Fukuchan: 24.1% (July)Year on year against the same period last yearBuySell: +7.4 percentage points; Fukuchan: +15.2 percentage points
- Inventory turnover period57.9 daysYear on year against the same period last yearYear-on-year change: Not disclosed
- Store count547 storesYear on year against the same period last year+57 stores compared with the end of the previous fiscal year
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Number of home visits245,965 Engagements
- Gross profit per in-home visit¥93,169
- Advertising expenses per in-home visit¥29,943
- Variable profit per in-home visit¥63,226
Segment results
- In-home Purchase ServiceNet Sales¥33,626 millionOperating profit¥5,739 millionRevenue YoY (%)39.8Operating Profit YoY (%)56.6
- In-store purchasingNet Sales¥35,349 millionOperating profit¥7,048 millionRevenue YoY (%)64.1Operating Profit YoY (%)123.7
- OtherNet Sales¥3,384 millionOperating profit¥12 millionRevenue YoY (%)39.3Operating Profit YoY (%)-95.3
Medium-term management plan targets
Target fiscal yearFY2027.12
Net Sales
¥1,730 million
Operating profit
¥200 million
Operating profit before amortization of goodwill and other intangible assets
¥215 million
Operating profit margin
11.6 %
Profit attributable to owners of the parent
¥120 million
Number of stores and locations
Number of Stores at Period-End547 stores
Change during the period+57 stores compared with the end of the previous fiscal year; the number of store openings and closures during the period was not disclosed
Number of employees
Number of Employees2,968 People
Change during the period+506 people year on year, due to increased hiring of new graduates and mid-career employees and an increase in consolidated personnel following the addition of DelightZ to the group
Annual Dividend
¥27 per share
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending December 2026 |
| Net Sales | ¥72,361 million (YoY +50.7%) |
| Operating profit | ¥9,243 million (YoY +90.8%) |
| Ordinary income | ¥9,022 million (YoY +98.6%) |
| Net income | ¥5,977 million (YoY +114.3%) |
| Gross Profit Margin | 52.2 % |
| Operating profit margin | 12.8 % |
| Selling, general and administrative expenses | ¥28,560 million |
| Results for the three months of the current quarter | Net Sales ¥40,303 million / Operating profit ¥4,120 million |
| Full-year earnings forecast | Net Sales ¥140,000 million / Gross profit ¥76,000 million / Operating profit ¥15,600 million / Ordinary income ¥15,200 million / Profit attributable to owners of the parent ¥9,800 million / Dividend per share ¥27 |
| Self-assessment against the plan | Exceeded the FY2026 plan, which was revised upward at the time of the first-quarter results |
| Segment results | Segment In-home Purchase Service / Net Sales ¥33,626 million / Operating profit ¥5,739 million / Revenue YoY (%) 39.8 / Operating Profit YoY (%) 56.6, Segment In-store purchasing / Net Sales ¥35,349 million / Operating profit ¥7,048 million / Revenue YoY (%) 64.1 / Operating Profit YoY (%) 123.7, Segment Other / Net Sales ¥3,384 million / Operating profit ¥12 million / Revenue YoY (%) 39.3 / Operating Profit YoY (%) -95.3 |
| Key KPIs | Number of home visits 245,965 Engagements, Variable profit per in-home visit ¥63,226, Gross profit per in-home visit ¥93,169, Advertising expenses per in-home visit ¥29,943, Repeat-visit rate BuySell: approximately 20%; Fukuchan: 24.1% (July), Inventory turnover period 57.9 days, Store count 547 stores |
| Unit price and quantity metrics | Number of home visits 245,965 Engagements, Gross profit per in-home visit ¥93,169, Advertising expenses per in-home visit ¥29,943, Variable profit per in-home visit ¥63,226 |
| Number of stores and locations | Number of Stores at Period-End 547 stores / Change during the period +57 stores compared with the end of the previous fiscal year; the number of store openings and closures during the period was not disclosed |
| Number of employees | Number of Employees 2,968 People / Change during the period +506 people year on year, due to increased hiring of new graduates and mid-career employees and an increase in consolidated personnel following the addition of DelightZ to the group |
| Assumptions Underlying the Business Outlook | Organic FY2027 performance targets assuming no new M&A transactions. Other numerical assumptions, including foreign exchange rates, raw material prices and interest rates, were not disclosed |
| Medium-term management plan targets | Target fiscal year FY2027.12 / Net Sales ¥1,730 million / Operating profit ¥200 million / Operating profit before amortization of goodwill and other intangible assets ¥215 million / Operating profit margin 11.6 % / Profit attributable to owners of the parent ¥120 million |
| Annual Dividend | ¥27 per share |
| New initiatives | Basic agreement toward the establishment of a joint venture with a local Chinese partner, scheduled for September 2026 and premised on making it a subsidiary in the future, Build a live-commerce sales network for China and North America, Roll out the internally developed Cosmos reuse platform across the group, Introduce AI automation for call-center and appraisal operations, Integrate group inventory and sales data and optimize sales channels using AI |
Items this document does not state (10)
Progress against full-year forecastBreakdown of Factors Affecting the ChangeRisk amount incorporated into the outlookFinancial targetsPayout 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.Purchasing remained solid in home-visit and in-store purchasing, as repeat-visit initiatives and measures to increase average transaction values proved effective. On the sales side, promotional activities for home-visit purchasing inventory in the first quarter and in-store purchasing inventory in the second quarter were implemented as planned, resulting in higher revenue and profit. The upward revision to net income reflects a detailed review of tax calculations and tax effects following the integration of group companies.
How to read this page
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