Worth reading
59In 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
52.4
% (year-on-year increase in revenue)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 March 2025–28 February 2026ConsolidatedJapanese GAAPNet Sales69,962million yenYear on year +52.4%Progress 97.2%
Operating profit2,802million yenYear on year +43.0%Progress 77.8%
Ordinary income3,164million yenYear on year +34.6%Progress 81.1%
Net income attributable to owners of the parent1,792million yenYear on year +30.1%Progress 77.9%
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¥83.46
Operating Margin4.0％
Financial position at period-end
Total assets68,836million yen
of which net assets 41,067 million yenEquity ratio 59.6%vs. prior year-end +1.1pt
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+1,102
Investment+2,266
Financials-3,748
Net change-380
Stacked from zero: upward is an increase in cash, downward a decrease (in million yen).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 period1,326 million yen
Segment revenueBrand business 45,346 million yen (YoY +109.2%), Apparel Business 24,615 million yen (YoY +1.6%)
Segment profitBrand business 2,859 million yen (YoY +89.5%), Apparel Business 996 million yen (YoY -2.4%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales72,000 million yen (YoY +2.9%)
Operating profit3,600 million yen (YoY +28.4%)
Ordinary income3,900 million yen (YoY +23.2%)
Net income2,300 million yen (YoY +28.3%)
Annual Dividend Forecast¥83 per share → ¥85 per share（+2.4%）
Payout ratio99.5% (fiscal year ended February 2026) / 77.5% (forecast for fiscal year ending February 2027)
Shareholder Return PolicyThe company aims to achieve ROE of at least 10% before goodwill amortization, DOE of at least 4%, and annual dividends of ¥100 per share. It also seeks to increase total payout ratio through stable and consistent dividends and flexible share repurchases.
Factors Behind Changes in Business Performance
The full-year contribution of ㈱羅針, which was consolidated from the fourth quarter of the previous fiscal year. The Brand Business benefited from growth at ㈱羅針's existing stores, the effect of opening the Shinjuku store, and merchandising reforms and pricing policies at the エフ・ディ・シィ・プロダクツ Group, while the Apparel Business benefited from increased orders from major customers of the アスティ Group. Meanwhile, ㈱アージュ struggled on the profit front due to an inadequate response to climate change and the closure of profitable stores.
Disclosure regarding the going concern assumption
Not applicable.
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 None
Material subsequent eventsNot applicable.
Impairment loss¥256 million (consolidated statement of income). Segment information reports impairment losses on property, plant and equipment of ¥343 million (¥227 million in the Brand Business and ¥116 million in the Apparel Business), of which ¥87 million in the Brand Business is included in brand restructuring losses.
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets 505 million yen, Gain on sale of investment securities 201 million yen / Extraordinary loss Impairment Losses 256 million yen, Loss on closure of stores 8 million yen, Brand restructuring loss 370 million yen, Impairment Loss on Investment Securities 56 million yen
Depreciation and amortization944 million yen
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for institutional investors and analysts)
Issued Shares at Period-End24,331,356 shares
Treasury Shares at Period-End2,856,576 shares
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 March 2025–28 February 2026 |
| Net Sales | 69,962 million yen (YoY +52.4%) |
| Operating profit | 2,802 million yen (YoY +43.0%) |
| Ordinary income | 3,164 million yen (YoY +34.6%) |
| Profit attributable to owners of the parent | 1,792 million yen (YoY +30.1%) |
| Net income per share | ¥83.46 |
| Operating Margin | 4.0％ |
| Equity ratio | End of the current fiscal period 59.6 / End of previous period 58.5 |
| Total assets | 68,836 million yen |
| Net assets | 41,067 million yen |
| Cash flows from operating activities | 1,102 million yen |
| Cash flows from investing activities | 2,266 million yen |
| Cash flows from financing activities | -3,748 million yen |
| Cash and cash equivalents at end of period | 1,326 million yen |
| Full-year earnings forecast | Net Sales 72,000 million yen (YoY +2.9%) / Operating profit 3,600 million yen (YoY +28.4%) / Ordinary income 3,900 million yen (YoY +23.2%) / Net income 2,300 million yen (YoY +28.3%) |
| Annual Dividend Forecast | ¥83 per share → ¥85 per share（+2.4%） |
| Payout ratio | 99.5% (fiscal year ended February 2026) / 77.5% (forecast for fiscal year ending February 2027) |
| Shareholder Return Policy | The company aims to achieve ROE of at least 10% before goodwill amortization, DOE of at least 4%, and annual dividends of ¥100 per share. It also seeks to increase total payout ratio through stable and consistent dividends and flexible share repurchases. |
| Segment revenue | Brand business 45,346 million yen (YoY +109.2%), Apparel Business 24,615 million yen (YoY +1.6%) |
| Segment profit | Brand business 2,859 million yen (YoY +89.5%), Apparel Business 996 million yen (YoY -2.4%) |
| Depreciation and amortization | 944 million yen |
| Impairment loss | ¥256 million (consolidated statement of income). Segment information reports impairment losses on property, plant and equipment of ¥343 million (¥227 million in the Brand Business and ¥116 million in the Apparel Business), of which ¥87 million in the Brand Business is included in brand restructuring losses. |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets 505 million yen, Gain on sale of investment securities 201 million yen / Extraordinary loss Impairment Losses 256 million yen, Loss on closure of stores 8 million yen, Brand restructuring loss 370 million yen, Impairment Loss on Investment Securities 56 million yen |
| Disclosure regarding the going concern assumption | Not applicable. |
| 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 None |
| Material subsequent events | Not applicable. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for institutional investors and analysts) |
| Issued Shares at Period-End | 24,331,356 shares |
| Treasury Shares at Period-End | 2,856,576 shares |
| Factors Behind Changes in Business Performance | The full-year contribution of ㈱羅針, which was consolidated from the fourth quarter of the previous fiscal year. The Brand Business benefited from growth at ㈱羅針's existing stores, the effect of opening the Shinjuku store, and merchandising reforms and pricing policies at the エフ・ディ・シィ・プロダクツ Group, while the Apparel Business benefited from increased orders from major customers of the アスティ Group. Meanwhile, ㈱アージュ struggled on the profit front due to an inadequate response to climate change and the closure of profitable stores. |
Items this document does not state (3)
Revision to Earnings ForecastRegional salesOrders received and order backlog
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.In addition to ㈱羅針, which was consolidated from the fourth quarter of the previous fiscal year, making a full-year contribution, the Brand Business benefited from growth at existing stores and the effect of opening the Shinjuku store, while the Apparel Business benefited from increased orders from major customers of the アスティ Group.
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