Worth reading
49Recurring
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
400
¥ millionWording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFirst quarter of the fiscal year ending March 20279 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥22,344 million+3.0%
Operating profit¥1,654 million-2.1%
Ordinary income¥1,865 million+1.6%
Net income¥1,645 million+33.7%
Results for the three months of the current quarter
Net Sales
¥22,344 million
Operating profit
¥1,654 million
Ordinary income
¥1,865 million
Profit attributable to owners of parent for the quarter
¥1,645 million
Full-year earnings forecast
Net Sales
¥90,000 million
Operating profit
¥6,100 million
Ordinary income
¥6,500 million
Profit attributable to owners of the parent
¥4,700 million
ROE
12.4 %
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Gain on sale of cross-held shares
¥550 million
New initiatives
- ¥2 billion share buyback
- Reduction of cross-shareholdings
- Restructuring unprofitable businesses and transforming the business model to establish a new business platform
Key KPIsA metric the company considers important as a management benchmark.
Equity ratio
66.1 %
ROE
12.4 %
PBR
1.5 times
WACC
7.2 %
Segment results
Solutions Business
Net Sales
¥9,887 million+14.1%
Ordinary income
¥618 million+124.1%
Mail-Order Business
Net Sales
¥10,100 million-0.7%
Ordinary income
¥1,337 million-15.6%
e-Commerce business
Net Sales
¥2,530 million-19.6%
Ordinary income
¥55 million
Medium-term management plan targets
Fiscal 2029
Consolidated net income¥6 billion or more
ROE15% or higher
Total payout ratioApproximately 60%
FY2025 actual
Consolidated net income¥2.76 billion
ROE7.5%
FY2026 forecast
Consolidated net income¥4.7 billion
ROE12.4%
Financial targets
ROE target15% or higher
Total payout ratio targetApproximately 60%
Actual equity ratio66.1%
Annual Dividend
Forecast for the fiscal year ending March 2027¥59
Payout ratio
The higher of a consolidated payout ratio of 60% or DOE of 8.5%Acquisition of treasury shares
¥2 billion
Period4 August 2026–30 September 2026
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥22,344 million (YoY +3.0%) |
| Operating profit | ¥1,654 million (YoY -2.1%) |
| Ordinary income | ¥1,865 million (YoY +1.6%) |
| Net income | ¥1,645 million (YoY +33.7%) |
| Results for the three months of the current quarter | Net Sales ¥22,344 million / Operating profit ¥1,654 million / Ordinary income ¥1,865 million / Profit attributable to owners of parent for the quarter ¥1,645 million |
| Full-year earnings forecast | Net Sales ¥90,000 million / Operating profit ¥6,100 million / Ordinary income ¥6,500 million / Profit attributable to owners of the parent ¥4,700 million / ROE 12.4 % |
| Segment results | Solutions Business Net Sales ¥9,887 million (YoY +14.1%) / Ordinary income ¥618 million (YoY +124.1%) / Mail-Order Business Net Sales ¥10,100 million (YoY -0.7%) / Ordinary income ¥1,337 million (YoY -15.6%) / e-Commerce business Net Sales ¥2,530 million (YoY -19.6%) / Ordinary income ¥55 million |
| Breakdown of Factors Affecting the Change | Gain on sale of cross-held shares ¥550 million |
| Key KPIs | Equity ratio 66.1 % / ROE 12.4 % / PBR 1.5 times / WACC 7.2 % |
| Medium-term management plan targets | Fiscal 2029 Consolidated net income ¥6 billion or more / ROE 15% or higher / Total payout ratio Approximately 60% / FY2025 actual Consolidated net income ¥2.76 billion / ROE 7.5% / FY2026 forecast Consolidated net income ¥4.7 billion / ROE 12.4% |
| Financial targets | ROE target 15% or higher / Total payout ratio target Approximately 60% / Actual equity ratio 66.1% |
| Annual Dividend | Forecast for the fiscal year ending March 2027 ¥59 |
| Payout ratio | The higher of a consolidated payout ratio of 60% or DOE of 8.5% |
| Acquisition of treasury shares | Amount ¥2 billion / Period 4 August 2026–30 September 2026 |
| New initiatives | ¥2 billion share buyback, Reduction of cross-shareholdings, Restructuring unprofitable businesses and transforming the business model to establish a new business platform |
Items this document does not state (14)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookCapital 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.Revenue increased on growth in the Solutions Business. Ordinary income increased because improvements in the earnings structure of the Other segment outweighed the pressure on gross profit in the Direct Sales Business caused by the weaker yen. The increase in net income was attributable to the recognition of a ¥550 million gain on the sale of cross-shareholdings. The upward revision to the full-year net income forecast reflects the recognition of this gain.
How to read this page
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