Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPThe 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.
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.
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.
Sales of shoes, wellness-related products and e-commerce products remained firm, but sales of winter products were sluggish due to the unusually warm winter, while outdoor and training apparel also struggled to grow. On the earnings side, markdowns on aged inventory, lower-of-cost-or-market valuation losses, depreciation expenses associated with the e-commerce system, higher personnel and store costs, and product valuation losses in the overseas golf business weighed on profit.
Not applicable.
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥252,331 million (YoY +0.7%) |
| Operating profit | ¥2,370 million (YoY -66.2%) |
| Ordinary income | ¥4,660 million (YoY -38.8%) |
| Profit attributable to owners of the parent | ¥-2,164 million |
| Net income per share | (¥52.27) |
| Operating Margin | 0.9％ |
| Equity ratio | End of the current fiscal period 57.2％ / End of previous period 59.5％ |
| Total assets | ¥205,996 million |
| Net assets | ¥118,313 million |
| Cash flows from operating activities | ¥9,681 million |
| Cash flows from investing activities | ¥-11,263 million |
| Cash flows from financing activities | ¥-3,323 million |
| Cash and cash equivalents at end of period | ¥15,808 million |
| Full-year earnings forecast | Net Sales ¥264,600 million (YoY +4.9%) / Operating profit ¥7,000 million (YoY +195.2%) / Ordinary income ¥7,100 million (YoY +52.4%) / Net income ¥7,500 million |
| Annual Dividend Forecast | ¥35 → ¥35（0.0%） |
| Payout ratio | 20.1％ |
| Depreciation and amortization | ¥6,946 million |
| Impairment loss | ¥3,610 million. The assets concerned were store equipment, buildings and other assets at operating stores. This comprised ¥1,774 million for buildings and structures and ¥1,835 million for other assets. |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥23 million, Insurance proceeds received ¥31 million, Gain on reversal of subscription rights to shares ¥39 million, Settlement proceeds received ¥167 million, Gain on sale of investment securities ¥4 million, Gain on bargain purchase ¥51 million, Reversal of asset retirement obligations ¥43 million, Gain on reversal of foreign currency translation adjustment ¥34 million, Total extraordinary income ¥395 million / Extraordinary loss Loss on Disposal of Fixed Assets ¥251 million, Losses on disposal of fixed assets ¥2,366 million, Impairment Losses ¥3,610 million, Losses from natural disasters ¥25 million, Business restructuring loss ¥316 million, Loss on cancellation of lease agreements ¥50 million, Impairment loss on investment securities ¥751 million, Total extraordinary loss ¥7,372 million |
| 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 | 3 entities added (2 newly established entities and 1 acquired entity; names not disclosed) and 3 entities removed (1 liquidated entity and 2 absorbed through mergers; names not disclosed) |
| Material subsequent events | Not applicable. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (no attendees specified) |
| Issued Shares at Period-End | 47,911,023 shares |
| Treasury Shares at Period-End | 6,529,100 shares |
| Factors Behind Changes in Business Performance | Sales of shoes, wellness-related products and e-commerce products remained firm, but sales of winter products were sluggish due to the unusually warm winter, while outdoor and training apparel also struggled to grow. On the earnings side, markdowns on aged inventory, lower-of-cost-or-market valuation losses, depreciation expenses associated with the e-commerce system, higher personnel and store costs, and product valuation losses in the overseas golf business weighed on profit. |
Items this document does not state (6)
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.Operating income fell below the initial forecast due to sluggish sales of winter products, increased markdowns and valuation losses under the lower-of-cost-or-market method based on the policy of accelerating the liquidation of aged inventory, higher depreciation expenses associated with the launch of the e-commerce system, higher unit costs for personnel and stores, and increased product valuation losses in the overseas golf business. The Company also recorded extraordinary losses, including impairment losses and losses on the disposal of fixed assets, associated with its management structural reforms.