Worth reading
45Recurring
Scored from 5 of 6 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
9.2
%Wording
Conditional
How definitive the wording is.Results for this period
Third quarter1 January 2026–30 September 2026ConsolidatedJapanese GAAPNet Sales290,174¥ millionYear on year +9.2%Progress 74.4%
Operating profit23,384¥ millionYear on year +8.8%Progress 86.6%
Ordinary income24,714¥ millionYear on year +13.4%Progress 92.2%
Net income attributable to owners of the parent18,068¥ millionYear on year +8.0%Progress 89.0%
The 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.
Net income per share¥42.62
Financial position at period-end
Total assets326,452¥ million
of which net assets 247,757 ¥ millionEquity ratio 74.8%vs. prior year-end +3.9pt
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.
Cash inflows and outflows
Operating+11,365
Investment-13,852
Financials-26,568
Net change-29,055
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.
Cash and cash equivalents at end of period¥81,618 million
Segment revenueFurniture business ¥143,391 million (YoY +11.3%), Business Supplies Distribution business ¥82,228 million (YoY +5.9%), Stationery business ¥68,075 million (YoY +9.3%), Interior Retail business ¥17,760 million (YoY +1.7%), Other ¥453 million (YoY +11.0%)
Segment profitFurniture business ¥23,564 million (YoY +12.3%), Business Supplies Distribution business ¥2,874 million (YoY -16.8%), Stationery business ¥6,506 million (YoY +18.4%), Interior Retail business ¥760 million (YoY +40.5%), Other ¥-396 million
Regional salesRegion Japan / 2026 ¥250,478 million / 2025 ¥235,158 million, Region Overseas / 2026 ¥39,672 million / 2025 ¥30,443 million
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥390,000 million (YoY +8.4%)
Operating profit¥27,000 million (YoY +2.9%)
Ordinary income¥26,800 million (YoY -1.6%)
Net income¥20,300 million (YoY -5.5%)
Annual Dividend Forecast¥24.50 (converted after taking the stock split into account; the annual dividend for the fiscal year ended December 2025 was ¥98.00 before taking the split into account) → ¥24.5 per share（0.0%）
Factors Behind Changes in Business Performance
Net sales increased due to orders secured in Japan in the furniture business, expansion of “Benri Net” in the business supplies distribution business, and overseas growth in the stationery business. Operating income increased due to the effect of higher revenue, and ordinary income also increased due in part to the recognition of foreign exchange gains.
Disclosure regarding the going concern assumption
No applicable matters
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew 0 companies / Excluded 0 companies / Company name Not applicable
Material subsequent eventsAt a Board of Directors meeting held on 29 October 2026, the company resolved to cancel 24,000,000 shares of treasury stock. The scheduled cancellation date is 26 November 2026.
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥774 million, Gain on sale of investment securities ¥1,049 million / Total extraordinary income ¥1,824 million / Extraordinary loss Impairment Losses on Shares of Affiliates ¥66 million, Provision for loss on guarantees of debt ¥50 million, Costs of the 120th anniversary commemorative project ¥5 million, Head Office Relocation Costs ¥210 million / Total extraordinary loss ¥333 million
Depreciation and amortization¥6,996 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for institutional investors and securities analysts)
Issued Shares at Period-End440,969,852
Treasury Shares at Period-End28,416,948
| Item | Details |
|---|---|
| Fiscal Period Classification | Third quarter |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 January 2026–30 September 2026 |
| Net Sales | ¥290,174 million (YoY +9.2%) |
| Operating profit | ¥23,384 million (YoY +8.8%) |
| Ordinary income | ¥24,714 million (YoY +13.4%) |
| Profit attributable to owners of the parent | ¥18,068 million (YoY +8.0%) |
| Net income per share | ¥42.62 |
| Equity ratio | End of the current fiscal period 74.8 % / End of previous period 70.9 % |
| Total assets | ¥326,452 million |
| Net assets | ¥247,757 million |
| Cash flows from operating activities | ¥11,365 million |
| Cash flows from investing activities | ¥-13,852 million |
| Cash flows from financing activities | ¥-26,568 million |
| Cash and cash equivalents at end of period | ¥81,618 million |
| Full-year earnings forecast | Net Sales ¥390,000 million (YoY +8.4%) / Operating profit ¥27,000 million (YoY +2.9%) / Ordinary income ¥26,800 million (YoY -1.6%) / Net income ¥20,300 million (YoY -5.5%) |
| Annual Dividend Forecast | ¥24.50 (converted after taking the stock split into account; the annual dividend for the fiscal year ended December 2025 was ¥98.00 before taking the split into account) → ¥24.5 per share（0.0%） |
| Segment revenue | Furniture business ¥143,391 million (YoY +11.3%), Business Supplies Distribution business ¥82,228 million (YoY +5.9%), Stationery business ¥68,075 million (YoY +9.3%), Interior Retail business ¥17,760 million (YoY +1.7%), Other ¥453 million (YoY +11.0%) |
| Segment profit | Furniture business ¥23,564 million (YoY +12.3%), Business Supplies Distribution business ¥2,874 million (YoY -16.8%), Stationery business ¥6,506 million (YoY +18.4%), Interior Retail business ¥760 million (YoY +40.5%), Other ¥-396 million |
| Regional sales | Region Japan / 2026 ¥250,478 million / 2025 ¥235,158 million, Region Overseas / 2026 ¥39,672 million / 2025 ¥30,443 million |
| Depreciation and amortization | ¥6,996 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥774 million, Gain on sale of investment securities ¥1,049 million / Total extraordinary income ¥1,824 million / Extraordinary loss Impairment Losses on Shares of Affiliates ¥66 million, Provision for loss on guarantees of debt ¥50 million, Costs of the 120th anniversary commemorative project ¥5 million, Head Office Relocation Costs ¥210 million / Total extraordinary loss ¥333 million |
| Disclosure regarding the going concern assumption | No applicable matters |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New 0 companies / Excluded 0 companies / Company name Not applicable |
| Material subsequent events | At a Board of Directors meeting held on 29 October 2026, the company resolved to cancel 24,000,000 shares of treasury stock. The scheduled cancellation date is 26 November 2026. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for institutional investors and securities analysts) |
| Issued Shares at Period-End | 440,969,852 |
| Treasury Shares at Period-End | 28,416,948 |
| Factors Behind Changes in Business Performance | Net sales increased due to orders secured in Japan in the furniture business, expansion of “Benri Net” in the business supplies distribution business, and overseas growth in the stationery business. Operating income increased due to the effect of higher revenue, and ordinary income also increased due in part to the recognition of foreign exchange gains. |
Items this document does not state (6)
Operating MarginRevision to Earnings ForecastPayout ratioShareholder Return PolicyOrders received and order backlogImpairment loss
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.Revenue increased due to orders secured in Japan in the furniture business, expansion of “Benri Net” in the business supplies distribution business, and overseas growth in the stationery business. Operating income increased due to the effect of higher revenue, while ordinary income increased due in part to the recognition of foreign exchange gains.
How to read this page
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