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Presentation materials for financial results9837MORITO CO.,LTD.Trading & Wholesale

Overview of financial results for the second quarter of the fiscal year ending November 2026

In the first half of the fiscal year ending November 2026, revenue, operating income and ordinary income reached record highs since the company began disclosing half-year results, while net income declined because the gain on the bargain purchase of negative goodwill recorded in the previous year was no longer recognized. The full-year forecast was left unchanged after factoring in procurement risks and higher costs arising from the situation in the Middle East, and the company also decided to repurchase its own shares and change its shareholder return policy from the fiscal year ending November 2027 onward.

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Mixed performance
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Scale
7262
¥ million (year-on-year increase in revenue)
Wording
Conditional
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Contents of this document

Presentation materials for financial resultsSecond quarter of the fiscal year ending November 202613 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥33,068 million+28.1%
Operating profit¥2,058 million+31.2%
Ordinary income¥2,162 million+26.4%
Net income¥1,645 million-29.9%
Gross Profit Margin30.6%
Operating profit margin6.2%
Results for the three months of the current quarter
Net Sales
1Q¥16,681 million
2Q¥16,386 million
Revenue by business
Apparel-related business
1Q¥9,832 million
2Q¥10,181 million
Product-related business
1Q¥5,169 million
2Q¥4,583 million
Transportation-related business
1Q¥1,676 million
2Q¥1,622 million
Full-year earnings forecast
Net Sales
¥63,000 million
Operating profit
¥3,500 million
Ordinary income
¥3,700 million
Net income for the current fiscal year
¥3,000 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 Sales52.5%
Operating profit58.8%
Ordinary income58.4%
Net income for the current fiscal year54.8%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
First-half results are progressing smoothly, but the full-year plan remains unchanged
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net Sales
Increased+¥7,262 million
Factors
  • Full-year consolidation of Ms.ID and ミツボシコーポレーション
  • Strong performance in healthcare-related products and kitchen equipment-related services
  • Strong performance in accessories for sports shoes in Vietnam
Factors reducing profit
  • Decline in the transportation-related business in China and the United States
Operating profit
Factors behind the increase
  • Increase in gross profit at the two consolidated companies: +¥1,633 million
  • Increase in gross profit from existing businesses: +¥537 million
  • Strong performance at ミツボシコーポレーション: +¥9 million
Factors reducing profit
  • Increase in personnel expenses: -¥844 million
  • Increase in expenses related to Ms.ID sales: -¥294 million
  • Increase in expenses associated with the consolidation of ミツボシコーポレーション: -¥265 million
  • Increase in other expenses: -¥287 million
  • Foreign exchange impact: -? (the display in the chart is illegible)
Ordinary income
Factors behind the increaseIncrease in operating profit
Factors reducing profitDecrease in Foreign-Exchange Gains
Net income for the current fiscal year
Factors reducing profitExtraordinary income, consisting of a gain on the bargain purchase of negative goodwill, was recorded in the previous year
Factors behind the increaseIncrease in Gains on Sales of Investment Securities
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
ProcurementProcurement risks and higher procurement costs for certain raw materials arising from the situation in the Middle East
Foreign exchangeHigher procurement costs resulting from yen depreciation
DemandStagnation in fashion apparel, a lull in demand for air-conditioned clothing, and weak performance by Japanese automakers in China and the United States
New initiatives
  • Formulation of the new medium-term management plan ACTION 1000
  • Change in the profit allocation policy from the fiscal year ending November 2027 onward to progressive dividends and a 5.0% DOE benchmark
  • Share repurchases
  • Revitalization of active sports-related products through an organizational change
  • 久永製作所 joining the group
Key KPIsA metric the company considers important as a management benchmark.
  • Equity ratio70.9 %
    Year on year against the same period last yearFiscal year ended November 2025: 71.8%
  • Revenue from environmental initiatives¥400 million
  • B2C business revenue¥2,415 million
  • Japan sales mix74 %
  • Asia sales mix14 %
  • Europe and US sales mix12 %
Segment results
Apparel-related business
Net Sales¥20,016 million
yoy+¥6,201 million, +44.9%
Product-related business
Net Sales¥9,752 million
yoy+¥882 million, +9.9%
Transportation-related business
Net Sales¥3,298 million
yoy+¥179 million, +5.7%
Regional breakdown
Japan
Net Sales¥24,598 million
yoy+¥6,551 million, +36.3%
Asia
Net Sales¥4,667 million
yoy+¥434 million, +10.3%
Europe and North America
Net Sales¥3,801 million
yoy+¥276 million, +7.8%
Medium-term management plan targets
New medium-term management plan ACTION 1000Revenue of ¥100 billion; target fiscal year ending November 2031
Environmental initiativesAnnual revenue of ¥1 billion; target fiscal year ending November 2031
Financial targets
DOE5.0% benchmark from the fiscal year ending November 2027 onward; 6.0% target for the fiscal year ending November 2031
Equity ratio
70.9 %
Actual valueSecond quarter of fiscal year ending November 2026
Market Size / Share
Metal snaps rank No. 1 in Japan and compete for the No. 1 or No. 2 position globally (specific market share not disclosed)
Number of stores and locations
Number at period-end22 locations worldwide
Annual Dividend
Annual¥72 per share
Interim¥36 per share
End of period¥36 per share
Payout ratio
60.4 %
DOE
4.6 %
Acquisition of treasury shares
Number of shares acquired300,000 shares (maximum)
Buyback limit¥600 million (maximum)
Period16 July 2026 to 12 January 2027
Contents of this document
ItemDetails
Document typePresentation materials for financial results
Fiscal Period CoveredSecond quarter of the fiscal year ending November 2026
Net Sales¥33,068 million (YoY +28.1%)
Operating profit¥2,058 million (YoY +31.2%)
Ordinary income¥2,162 million (YoY +26.4%)
Net income¥1,645 million (YoY -29.9%)
Gross Profit Margin30.6%
Operating profit margin6.2%
Results for the three months of the current quarterNet Sales 1Q ¥16,681 million / 2Q ¥16,386 million / Revenue by business Apparel-related business 1Q ¥9,832 million / 2Q ¥10,181 million / Product-related business 1Q ¥5,169 million / 2Q ¥4,583 million / Transportation-related business 1Q ¥1,676 million / 2Q ¥1,622 million
Full-year earnings forecastNet Sales ¥63,000 million / Operating profit ¥3,500 million / Ordinary income ¥3,700 million / Net income for the current fiscal year ¥3,000 million
Progress against full-year forecastNet Sales 52.5% / Operating profit 58.8% / Ordinary income 58.4% / Net income for the current fiscal year 54.8%
Self-assessment against the planFirst-half results are progressing smoothly, but the full-year plan remains unchanged
Segment resultsApparel-related business Net Sales ¥20,016 million / yoy +¥6,201 million, +44.9% / Product-related business Net Sales ¥9,752 million / yoy +¥882 million, +9.9% / Transportation-related business Net Sales ¥3,298 million / yoy +¥179 million, +5.7% / Regional breakdown Japan Net Sales ¥24,598 million / yoy +¥6,551 million, +36.3% / Asia Net Sales ¥4,667 million / yoy +¥434 million, +10.3% / Europe and North America Net Sales ¥3,801 million / yoy +¥276 million, +7.8%
Breakdown of Factors Affecting the ChangeNet Sales Increased +¥7,262 million / Factors Full-year consolidation of Ms.ID and ミツボシコーポレーション, Strong performance in healthcare-related products and kitchen equipment-related services, Strong performance in accessories for sports shoes in Vietnam / Factors reducing profit Decline in the transportation-related business in China and the United States / Operating profit Factors behind the increase Increase in gross profit at the two consolidated companies: +¥1,633 million, Increase in gross profit from existing businesses: +¥537 million, Strong performance at ミツボシコーポレーション: +¥9 million / Factors reducing profit Increase in personnel expenses: -¥844 million, Increase in expenses related to Ms.ID sales: -¥294 million, Increase in expenses associated with the consolidation of ミツボシコーポレーション: -¥265 million, Increase in other expenses: -¥287 million, Foreign exchange impact: -? (the display in the chart is illegible) / Ordinary income Factors behind the increase Increase in operating profit / Factors reducing profit Decrease in Foreign-Exchange Gains / Net income for the current fiscal year Factors reducing profit Extraordinary income, consisting of a gain on the bargain purchase of negative goodwill, was recorded in the previous year / Factors behind the increase Increase in Gains on Sales of Investment Securities
Key KPIsIndicator name Equity ratio / Value 70.9 % / Year on year against the same period last year Fiscal year ended November 2025: 71.8%, Indicator name Revenue from environmental initiatives / Value ¥400 million / Year on year against the same period last year Not disclosed, Indicator name B2C business revenue / Value ¥2,415 million / Year on year against the same period last year Not disclosed, Indicator name Japan sales mix / Value 74 % / Year on year against the same period last year Not disclosed, Indicator name Asia sales mix / Value 14 % / Year on year against the same period last year Not disclosed, Indicator name Europe and US sales mix / Value 12 % / Year on year against the same period last year Not disclosed
Number of stores and locationsNumber at period-end 22 locations worldwide / Number of store openings and closures during the period Not disclosed
Assumptions Underlying the Business OutlookProcurement Procurement risks and higher procurement costs for certain raw materials arising from the situation in the Middle East / Foreign exchange Higher procurement costs resulting from yen depreciation / Demand Stagnation in fashion apparel, a lull in demand for air-conditioned clothing, and weak performance by Japanese automakers in China and the United States
Medium-term management plan targetsNew medium-term management plan ACTION 1000 Revenue of ¥100 billion; target fiscal year ending November 2031 / Environmental initiatives Annual revenue of ¥1 billion; target fiscal year ending November 2031
Financial targetsDOE 5.0% benchmark from the fiscal year ending November 2027 onward; 6.0% target for the fiscal year ending November 2031 / Equity ratio 70.9 %
Annual DividendAnnual ¥72 per share / Interim ¥36 per share / End of period ¥36 per share
Payout ratio60.4 %
Acquisition of treasury sharesNumber of shares acquired 300,000 shares (maximum) / Buyback limit ¥600 million (maximum) / Period 16 July 2026 to 12 January 2027
Market Size / ShareMetal snaps rank No. 1 in Japan and compete for the No. 1 or No. 2 position globally (specific market share not disclosed)
New initiativesFormulation of the new medium-term management plan ACTION 1000, Change in the profit allocation policy from the fiscal year ending November 2027 onward to progressive dividends and a 5.0% DOE benchmark, Share repurchases, Revitalization of active sports-related products through an organizational change, 久永製作所 joining the group
Items this document does not state (7)
Selling, general and administrative expensesUnit price and quantity metricsNumber of employeesRisk amount incorporated into the outlookCapital expendituresOrders received and order backlogKey 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 increases in revenue, operating income and ordinary income were driven by the consolidation of Ms.ID and ミツボシコーポレーション, strong performance in healthcare-related products and kitchen equipment-related services, and strong sales of accessories for sports shoes in Vietnam. Net income declined because extraordinary income, consisting of a gain on the bargain purchase of negative goodwill, was recorded in the previous year. The decision to leave the full-year forecast unchanged was a conservative judgment that factored in procurement risks and higher procurement costs arising from the situation in the Middle East.

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Overview of financial results for the second quarter of the fiscal year ending November 2026 | MORITO CO.,LTD. (9837) timely disclosure | Komori