Worth reading
58In 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
Hundreds of millions of yenWording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFY ending August 2026, third quarter6 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥79,955 million+26.7%
Operating profit¥5,274 million+310.5%
Ordinary income¥5,130 million+319.1%
Net income¥3,314 million+520.7%
Gross Profit Margin26.9%
Operating profit margin6.6%
Selling, general and administrative expenses¥16,228 million
Results for the three months of the current quarter
Net Sales
¥27,984 million+25.7%
Operating profit
¥1,719 million+290.0%
Ordinary income
¥1,675 million+302.2%
Net income
¥1,062 million+426.5%
Gross Profit Margin
26.5%
Year on year against the same period last year+1.6pts
Operating profit margin
6.1%
Year on year against the same period last year+3.5pts
Full-year earnings forecast
Net Sales
¥106,000 million
Operating profit
¥5,500 million
Ordinary income
¥5,260 million
Net income
¥3,000 million
Gross profit
¥27,950 million
Gross Profit Margin
26.4%
Selling, general and administrative expenses
¥22,450 million
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Net Sales75.4%
Cost of sales74.9%
Gross profit76.9%
Selling, general and administrative expenses72.3%
Operating profit95.9%
Ordinary income97.5%
Net income110.5%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Procurement secured above plan, and retail sales also performed better than plannedNew initiatives
- Awareness-building initiatives, including television commercials and social media advertising, to expand procurement in the next fiscal year
- Renewed television advertising in August 2026
- Holding the eighth ALLU Auction event
- Holding an “Original Birkin” exhibition in Osaka
- Expanding the store network, primarily through overseas partner stores
Key KPIsA metric the company considers important as a management benchmark.
- GMV966 Hundreds of millions of yenYear on year against the same period last year+28.0%
- Cumulative consignment auction winning bid value199 Hundreds of millions of yenYear on year against the same period last year+32.7%
- Cumulative consignment auction ratio44.3%
- Cumulative retail sales197 Hundreds of millions of yenYear on year against the same period last year+47.2%
- B2B auction sell-through rate97.8%
- SBA partner members5,645 companies
- Inventory turnover period61 days
Medium-term management plan targets
Sourcing ratio excluding なんぼや25%
Auction consignment ratio40%
Retail sales ratio25%
Number of stores and locations
Number of domestic purchasing stores
End of period141 Location
Store openings during the period3 Location
Number of overseas purchasing stores
End of period58 Location
Store openings during the period7 Location
Number of countries with locations and stores18
Number of employees
1,183 People
Change during the periodIncreased by 50 from 1,133 in FY26/2Q
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | FY ending August 2026, third quarter |
| Net Sales | ¥79,955 million (YoY +26.7%) |
| Operating profit | ¥5,274 million (YoY +310.5%) |
| Ordinary income | ¥5,130 million (YoY +319.1%) |
| Net income | ¥3,314 million (YoY +520.7%) |
| Gross Profit Margin | 26.9% |
| Operating profit margin | 6.6% |
| Selling, general and administrative expenses | ¥16,228 million |
| Results for the three months of the current quarter | Net Sales ¥27,984 million (YoY +25.7%) / Operating profit ¥1,719 million (YoY +290.0%) / Ordinary income ¥1,675 million (YoY +302.2%) / Net income ¥1,062 million (YoY +426.5%) / Gross Profit Margin 26.5% / Operating profit margin 6.1% |
| Full-year earnings forecast | Net Sales ¥106,000 million / Operating profit ¥5,500 million / Ordinary income ¥5,260 million / Net income ¥3,000 million / Gross profit ¥27,950 million / Gross Profit Margin 26.4% / Selling, general and administrative expenses ¥22,450 million |
| Progress against full-year forecast | Net Sales 75.4% / Cost of sales 74.9% / Gross profit 76.9% / Selling, general and administrative expenses 72.3% / Operating profit 95.9% / Ordinary income 97.5% / Net income 110.5% |
| Self-assessment against the plan | Procurement secured above plan, and retail sales also performed better than planned |
| Key KPIs | GMV 966 Hundreds of millions of yen, Cumulative consignment auction winning bid value 199 Hundreds of millions of yen, Cumulative consignment auction ratio 44.3%, Cumulative retail sales 197 Hundreds of millions of yen, B2B auction sell-through rate 97.8%, SBA partner members 5,645 companies, Inventory turnover period 61 days |
| Number of stores and locations | Number of domestic purchasing stores End of period 141 Location / Store openings during the period 3 Location / Store closures during the period Not disclosed / Number of overseas purchasing stores End of period 58 Location / Store openings during the period 7 Location / Store closures during the period Not disclosed / Number of countries with locations and stores 18 |
| Number of employees | 1,183 People |
| Medium-term management plan targets | Sourcing ratio excluding なんぼや 25% / Auction consignment ratio 40% / Retail sales ratio 25% |
| New initiatives | Awareness-building initiatives, including television commercials and social media advertising, to expand procurement in the next fiscal year, Renewed television advertising in August 2026, Holding the eighth ALLU Auction event, Holding an “Original Birkin” exhibition in Osaka, Expanding the store network, primarily through overseas partner stores |
Items this document does not state (13)
Segment resultsBreakdown of Factors Affecting the ChangeUnit price and quantity metricsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital 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.The company secured ample inventory as procurement expanded strongly, while investment in retail drove higher sales at domestic stores and through e-commerce. Firm bullion prices also contributed. Gross margin improved as the company focused on procurement with an emphasis on gross margin and as the retail sales mix increased. The company also cited continued efficiency-focused business operations, alongside investment in hiring and expanding brand awareness, as a factor behind the increase in operating profit.
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.
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