Earnings Presentation Materials for the First Quarter of the Fiscal Year Ending March 2027 | Menicon Co.,Ltd. (7780) timely disclosure

Worth reading

58In focus

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

74.9

Year-on-year change in operating profit (%)

Wording

Avoiding a definitive answer

How definitive the wording is.

Contents of this document

Financial Results PresentationFirst quarter of the fiscal year ending March 20278 items taken from the company’s own explanation

Financial Results Figures (The key points of this material are explained below)

Net Sales¥32,376 million+7.0%

Operating profit¥3,429 million+74.9%

Ordinary income¥3,361 million+90.1%

Net income¥2,230 million+124.9%

Gross Profit Margin54.3%

Operating profit margin10.6%

Selling, general and administrative expenses¥14,136 million

Full-year earnings forecast

Net Sales

¥133,000 million

Gross profit

¥71,000 million

Operating profit

¥11,000 million

EBITDA

¥22,600 million

Ordinary income

¥10,500 million

Profit attributable to owners of the parent

¥6,500 million

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 Sales24.3%

Cost of sales23.9%

Gross profit24.7%

Selling, general and administrative expenses23.6%

Operating profit31.2%

EBITDA26.7%

Ordinary income32.0%

Profit attributable to owners of the parent34.3%

Vision Care24.4%

1DAY24.5%

Domestic 1DAY25.1%

Domestic Mels Plan24.1%

Domestic merchandise sales28.6%

Overseas 1DAY21.3%

Orthokeratology-related25.1%

Other contact lenses and lens care24.1%

Healthcare and Life Care24.1%

Mels Plan24.9%

What the company explained in this material

Self-assessment against the planThe company's self-assessment against its own plan.

Progress has been solid and broadly in line with expectations

Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.

Operating profit

Q1 FY2026 operating profit¥1.9 billion

Increase in gross profit+¥1.4 billion

Human resources investment-¥100 million

Advertising and sales promotion (overseas)+¥30 million

Advertising and sales promotion (domestic)+¥60 million

Other SG&A expenses+¥10 million

Q1 FY2027 operating profit¥3.4 billion

Full-year operating profit forecast

Operating profit, fiscal year ended March 2026¥10.2 billion

Increase in gross profit+¥3.4 billion

Human resources investment-¥900 million

Advertising and sales promotion (overseas)−¥800 million

Advertising and sales promotion (domestic)-¥500 million

Other SG&A expenses-¥200 million

Operating income forecast for the fiscal year ending March 2027¥11.0 billion or ¥11.2 billion as displayed

Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.

EUR¥180.0

USD¥155.0

CNY¥22.0

New initiatives

Strengthen 1DAY production capacity, centered on the Malaysia plant
Begin 1DAY sales to new accounts in Germany, Italy, and France in Europe
Expand the 1DAY lineup on major Chinese e-commerce websites
Begin 1DAY sales in Vietnam
Expand the domestic directly operated store network through new openings and M&A
Launch シアーズ in May 2026

Key KPIsA metric the company considers important as a management benchmark.

1-Day revenue¥9.2 billion
Year on year against the same period last year+13.7%
Cumulative MELS membership1.299 million people
Year-on-year comparison1.300 million people in the fourth quarter of FY2026/3
1-Day member composition ratio29.4%
Average monthly Mels Plan fee¥3,301
EBITDA¥6 billion
Year on year against the same period last year+38.1%

Unit price and quantity metricsThese figures show sales broken down by price and volume.

The 1DAY member composition ratio and average monthly Mels Plan fee are disclosed. 1DAY sales volume itself is not disclosed.

Segment results

Vision Care

Net Sales

¥30,211 million

Year on year against the same period last year+7.1%

Healthcare and Life Care

Net Sales

¥2,165 million

Year on year against the same period last year+6.5%

Medium-term management plan targets

Plan nameMilestone 2027

Target fiscal yearFiscal year ending March 2028

Consolidated gross profit margin53.8%

1-Day revenue¥46.0 billion

Contents of this document
Item	Details
Document type	Financial Results Presentation
Fiscal Period Covered	First quarter of the fiscal year ending March 2027
Net Sales	¥32,376 million (YoY +7.0%)
Operating profit	¥3,429 million (YoY +74.9%)
Ordinary income	¥3,361 million (YoY +90.1%)
Net income	¥2,230 million (YoY +124.9%)
Gross Profit Margin	54.3%
Operating profit margin	10.6%
Selling, general and administrative expenses	¥14,136 million
Full-year earnings forecast	Net Sales ¥133,000 million / Gross profit ¥71,000 million / Operating profit ¥11,000 million / EBITDA ¥22,600 million / Ordinary income ¥10,500 million / Profit attributable to owners of the parent ¥6,500 million
Progress against full-year forecast	Net Sales 24.3% / Cost of sales 23.9% / Gross profit 24.7% / Selling, general and administrative expenses 23.6% / Operating profit 31.2% / EBITDA 26.7% / Ordinary income 32.0% / Profit attributable to owners of the parent 34.3% / Vision Care 24.4% / 1DAY 24.5% / Domestic 1DAY 25.1% / Domestic Mels Plan 24.1% / Domestic merchandise sales 28.6% / Overseas 1DAY 21.3% / Orthokeratology-related 25.1% / Other contact lenses and lens care 24.1% / Healthcare and Life Care 24.1% / Mels Plan 24.9%
Self-assessment against the plan	Progress has been solid and broadly in line with expectations
Segment results	Vision Care Net Sales ¥30,211 million / Year on year against the same period last year +7.1% / Profit Not disclosed / Healthcare and Life Care Net Sales ¥2,165 million / Year on year against the same period last year +6.5% / Profit Not disclosed
Breakdown of Factors Affecting the Change	Operating profit Q1 FY2026 operating profit ¥1.9 billion / Increase in gross profit +¥1.4 billion / Human resources investment -¥100 million / Advertising and sales promotion (overseas) +¥30 million / Advertising and sales promotion (domestic) +¥60 million / Other SG&A expenses +¥10 million / Q1 FY2027 operating profit ¥3.4 billion / Full-year operating profit forecast Operating profit, fiscal year ended March 2026 ¥10.2 billion / Increase in gross profit +¥3.4 billion / Human resources investment -¥900 million / Advertising and sales promotion (overseas) −¥800 million / Advertising and sales promotion (domestic) -¥500 million / Other SG&A expenses -¥200 million / Operating income forecast for the fiscal year ending March 2027 ¥11.0 billion or ¥11.2 billion as displayed
Key KPIs	Indicator name 1-Day revenue / Value ¥9.2 billion / Year on year against the same period last year +13.7%, Indicator name Cumulative MELS membership / Value 1.299 million people / Year-on-year comparison 1.300 million people in the fourth quarter of FY2026/3, Indicator name 1-Day member composition ratio / Value 29.4% / Year on year against the same period last year Not disclosed, Indicator name Average monthly Mels Plan fee / Value ¥3,301 / Year on year against the same period last year Not disclosed, Indicator name EBITDA / Value ¥6 billion / Year on year against the same period last year +38.1%
Unit price and quantity metrics	The 1DAY member composition ratio and average monthly Mels Plan fee are disclosed. 1DAY sales volume itself is not disclosed.
Assumptions Underlying the Business Outlook	EUR ¥180.0 / USD ¥155.0 / CNY ¥22.0
Medium-term management plan targets	Plan name Milestone 2027 / Target fiscal year Fiscal year ending March 2028 / Consolidated gross profit margin 53.8% / 1-Day revenue ¥46.0 billion
New initiatives	Strengthen 1DAY production capacity, centered on the Malaysia plant, Begin 1DAY sales to new accounts in Germany, Italy, and France in Europe, Expand the 1DAY lineup on major Chinese e-commerce websites, Begin 1DAY sales in Vietnam, Expand the domestic directly operated store network through new openings and M&A, Launch シアーズ in May 2026

Items this document does not state (12)

Results for the three months of the current quarterNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout 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.

Gross profit increased due to expanded domestic and overseas sales resulting from higher 1DAY supply, the effect of price increases, expansion of sales regions for orthokeratology-related products, and the weaker yen. In addition, operating profit increased as a result of reviewing the cost structure, including advertising and sales-promotion expenses.

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