Worth reading
45Recurring
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
308284
¥ thousandWording
Conditional
How definitive the wording is.Items stated in the management plan
Annual updateNet Sales+0.9%
基準 1,873Target1,890million
Operating profit+44.4%
基準 -275Target-153million
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
Statements about the use of capital
Payout ratio / DOE policyThe company will establish a structure to secure an appropriate level of profit and make a resumption of dividend payments possible. Numerical target and period: Not disclosed.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Self-assessment of PBR and share priceThe average share price for the three months through the end of February 2026 was ¥218.7. The company estimates that a share price of ¥710 would be required to meet a market capitalization of tradable shares of ¥1 billion. It assesses the share price as weak.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Change the design source, review selling prices and develop new customers through in-store visual presentation at department stores, directly operated stores and other retail locations
02Reduce inventory risk by controlling production and procurement
03Secure an appropriate gross profit margin by reducing manufacturing costs
04Thoroughly review transaction terms and unprofitable transactions
05Improve productivity in hydroponic and soil-based vegetable cultivation
06Education and training for facility users
Plan assumptionsCertain assumptions considered reasonable as of May 2026. Specific numerical assumptions: Not disclosed.
Non-financial targetsIndicator Ratio of new customers among purchasers / Target value 70% / Timing FY2025
Risks identified by the company
The share price is determined by market conditions and cannot be guaranteed by the company alone
Actual results and other outcomes may differ due to various factors
Customer attrition among younger people
Aging of existing customers
Declining demand for apparel
Delayed recovery in the retail business
Poor health among employees and employee departures in the wholesale business
Continuation of operating losses
Reason for revision or withdrawal
The reduction in selling, general and administrative expenses has fallen substantially behind schedule, declining by only ¥229 million from ¥1,669 million in the fiscal year ended February 2025 to ¥1,440 million in the fiscal year ended February 2026.
| Item | Details |
|---|---|
| Plan name | Plan for Compliance with Listing Maintenance Criteria under the New Market Segments |
| Plan period | Through the end of February 2027 |
| Progress against the plan | Annual update |
| Sales Target | ¥1,873 million → ¥1,890 million（Approximately 0.9%） |
| Operating profit target | ¥-275 million → ¥-153 million（Loss to narrow by approximately 44.4%） |
| Payout ratio / DOE policy | The company will establish a structure to secure an appropriate level of profit and make a resumption of dividend payments possible. Numerical target and period: Not disclosed. |
| Self-assessment of PBR and share price | The average share price for the three months through the end of February 2026 was ¥218.7. The company estimates that a share price of ¥710 would be required to meet a market capitalization of tradable shares of ¥1 billion. It assesses the share price as weak. |
| Non-financial targets | Indicator Ratio of new customers among purchasers / Target value 70% / Timing FY2025 |
| Plan assumptions | Certain assumptions considered reasonable as of May 2026. Specific numerical assumptions: Not disclosed. |
| Key initiatives | Change the design source, review selling prices and develop new customers through in-store visual presentation at department stores, directly operated stores and other retail locations, Reduce inventory risk by controlling production and procurement, Secure an appropriate gross profit margin by reducing manufacturing costs, Thoroughly review transaction terms and unprofitable transactions, Improve productivity in hydroponic and soil-based vegetable cultivation, Education and training for facility users |
| Reason for revision or withdrawal | The reduction in selling, general and administrative expenses has fallen substantially behind schedule, declining by only ¥229 million from ¥1,669 million in the fiscal year ended February 2025 to ¥1,440 million in the fiscal year ended February 2026. |
| Risks identified | The share price is determined by market conditions and cannot be guaranteed by the company alone, Actual results and other outcomes may differ due to various factors, Customer attrition among younger people, Aging of existing customers, Declining demand for apparel, Delayed recovery in the retail business, Poor health among employees and employee departures in the wholesale business, Continuation of operating losses |
| Publication date | 29 May 2026 |
Items this document does not state (12)
Operating profit margin targetNet income targetROE targetROIC targetTreasury share acquisition policyCost of capitalTotal investment planInvestment amount by sectorSegment targetResults under the previous planSize of the Target MarketDate of board resolution
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.While a review of the company's financial position and accurate valuation of its assets have stabilized its financial condition and management base, its share price has remained weak due to a decline in asset value per share, resulting in the market capitalization of tradable shares falling below the criteria. Going forward, the company will work to substantially reduce selling, general and administrative expenses, restore sales, return to operating profitability and increase the number of tradable shares.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.