Komori
Valor Holdings (9956) · InitiativeMitigated

Expansion of Will_G, a Low-Investment, Low-Membership-Fee Fitness Gym Format

First written in FY2016. 16 of 35 entries say "Advanced", first in FY2016. Latest entry: 2026-08-07.

35entries
11years
2from disclosures
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How it moved
ProgressHeldSoftenedWorseAdvancedFY2016 – FY2020-Q3MitigatedFY2024-Q2 – FY2025-H12016: 320162017: 420172018: 420182019: 420192020: 420202021: 420212022: 220222023: 420232024: 220242025: 120252026: 32026
Same theme, other companies
Expansion of Sports Business Scale and Improvement of ProfitabilityA theme 11 companies write about · 0 as a headwind · 12 as a tailwind

The whole theme swung hardest in 2023: 2 of 10 companies on the "Worse" side.

0 other companies' latest entry also says "Mitigated".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. 2026-08-07MitigatedEarnings

    「As a result of efforts to control selling, general and administrative expenses, the business turned to an operating profit.」

    The sports club business turned from an operating loss to operating profit of ¥60 million, and profitability continued to improve after the elimination of unprofitable stores.
  2. FY2026MitigatedAnnual report

    「In addition to reducing fixed costs by closing unprofitable stores, the company horizontally deployed swimming school operating expertise to existing stores through on-site exchanges with 株式会社アーデル・フィットネス・リゾート and 株式会社ウィング, which had become wholly owned subsidiaries. This also contributed to improved profitability, and the company secured an operating profit for the first time in 6 fiscal periods. At the end of the fiscal year, the group total was 156 stores, including 17 Actos Will_G store closures and 1 store of 株式会社ウィング, which had become a subsidiary.」

    The focus shifted from expanding Will_G stores to rationalizing unprofitable stores and reducing fixed costs, and the sports club business returned to operating profitability for the first time in 6 fiscal periods.
  3. 2026-05-13AchievedEarningsSuggests it is closing out

    「As a result, we secured an operating profit for the first time in 6 fiscal years.」

    The sports club business recorded an operating profit for the first time in 6 fiscal years. Meanwhile, Will_G closed 17 stores and continued to eliminate unprofitable locations.
  4. FY2026-H1SoftenedAnnual report

    「In the Actos Will_G business format, the company completed its plan to close multiple stores, which had been underway since the previous fiscal year, at the end of September. …As of the end of the interim period, the group total was 161 stores, including 12 Actos Will_G store closures and 1 store of 株式会社ウィング, which had become a subsidiary, including 36 franchise-operated stores.」

    The plan to close multiple Will_G stores was completed at the end of September. Although the sports club business as a whole returned to operating profitability, the focus shifted from store expansion to the rationalization of unprofitable stores.
  5. FY2025-H1MitigatedAnnual report

    「Operating revenue in the sports club business was ¥5,167 million, up 5.5% year on year, and the operating loss was ¥223 million, compared with an operating loss of ¥386 million in the same period of the previous year. …Membership increased year on year.」

    Membership increased due to a review of membership categories, 90-minute memberships, AI machines, and contract swimming school operations, while the operating loss narrowed from ¥386 million to ¥223 million.
  6. FY2024-Q3MitigatedAnnual report

    「Operating revenue in the sports club business was ¥7,401 million, up 3.1% year on year, and the operating loss was ¥553 million, compared with ¥723 million in the same quarter of the previous year.」

    Revenue increased due to membership acquisition initiatives, and the operating loss narrowed from ¥723 million in the same quarter of the previous year to ¥553 million. However, the operating loss continued.
  7. FY2024-Q2MitigatedAnnual report

    「In this business, revenue increased as membership, the source of revenue, grew due to longer operating hours at some stores, a review of membership categories, and greater specialization, including stronger swimming and tennis school operations. The operating loss narrowed.」

    Membership increased due to longer operating hours, a review of membership categories, and stronger school operations, narrowing the operating loss from ¥448 million in the same period of the previous year to ¥386 million.
  8. FY2024-Q1WorsenedAnnual report

    「Operating revenue in the sports club business was ¥2,371 million, down 3.1% year on year, and the operating loss was ¥290 million, compared with ¥225 million in the same quarter of the previous year. …Although membership increased year on year due to the effects of promotional activities, the company could not absorb higher cost of sales, including personnel and facility expenses, and the operating loss widened.」

    Membership increased due to the effects of promotional activities, but the company could not absorb higher costs, including personnel and facility expenses, and the operating loss widened from ¥225 million in the same period of the previous year to ¥290 million.
  9. FY2023WorsenedAnnual report

    「Operating revenue in the sports club business was ¥9,439 million, down 4.1% year on year, and the operating loss was ¥1,159 million, compared with ¥559 million in the same period of the previous year. …The operating loss widened because the cost of sales, including utilities, increased substantially.」

    Although higher average membership fees and a decline in suspended members indicated signs of recovery, the operating loss widened to ¥1,159 million and the number of stores declined to 184.
  10. FY2023-Q3WorsenedAnnual report

    「In this business, revenue increased due to higher average membership fees and the return of members who had suspended their memberships during the COVID-19 pandemic. However, the operating loss widened because the cost of sales, including utilities, increased. The company opened 2 stores and closed 9 stores, bringing the group total to 186 stores as of the end of the third quarter, including 54 franchise-operated stores.」

    Revenue increased due to higher average membership fees and the return of suspended members, while the operating loss widened from ¥327 million in the same period of the previous year to ¥723 million due to higher cost of sales, including utilities. Two stores were opened and 9 stores were closed, bringing the total number of stores to 186.
  11. FY2023-Q2WorsenedAnnual report

    「In this business, revenue increased due to the increase in monthly membership fees for Sports Club Actos Will_G (ウィルジー) implemented from July and a decline in members who had suspended their memberships during the COVID-19 pandemic. However, the operating loss widened because the cost of sales, including utilities, increased. The company opened 1 store and closed 5 stores, bringing the group total to 189 stores as of the end of the second quarter, including 56 franchise-operated stores.」

    Revenue increased due to higher monthly membership fees for Will_G and a decline in suspended members, while the operating loss widened from ¥275 million to ¥448 million due to higher cost of sales, including utilities. One store was opened and 5 stores were closed, bringing the total number of stores to 189.
  12. FY2022-Q3MitigatedAnnual report

    「In this business, although some stores in areas subject to a state of emergency temporarily closed or operated for shorter hours, the company continued normal operations while implementing infection-control measures and worked to retain existing members and encourage users of the membership suspension program to return.」

    Although some closures and shortened operating hours remained, the company continued normal operations and worked to retain members and encourage suspended members to return. With the benefit of fixed-cost reductions, the operating loss narrowed from ¥1,615 million in the same period of the previous year to ¥327 million.
  13. FY2022-Q2MitigatedAnnual report

    「In this business, although some stores in areas subject to a state of emergency temporarily closed or operated for shorter hours, the company continued normal operations while implementing infection-control measures and worked to retain existing members and encourage users of the membership suspension program to return. It newly opened 3 Sports Club Actos Will_G (ウィルジー) stores, including 2 franchise-operated stores, and closed 6 stores, including 5 franchise-operated stores, bringing the group total to 187 stores as of the end of the second quarter, including 54 franchise-operated stores.」

    Although some closures and shortened operating hours remained, the company continued normal operations and worked to retain members and encourage suspended members to return. After opening and closing stores, the operating loss narrowed from ¥1,327 million in the same period of the previous year to ¥275 million.
  14. FY2022-Q1MitigatedAnnual report

    「In this business, although some stores in areas subject to a state of emergency temporarily closed or operated for shorter hours, the company continued normal operations while implementing infection-control measures and worked to retain existing members and encourage users of the membership suspension program to return. It newly opened 2 Sports Club Actos Will_G (ウィルジー) stores, all franchise-operated, and closed 3 stores, including 2 franchise-operated stores, bringing the group total to 189 stores as of the end of the first quarter, including 57 franchise-operated stores.」

    Although some closures and shortened operating hours remained, operations generally returned to normal, and the company worked to retain members and encourage suspended members to return. With the benefit of fixed-cost reductions, the operating loss narrowed from ¥792 million in the same period of the previous year to ¥194 million.
  15. FY2021WorsenedAnnual report

    「In this business, the company pursued initiatives to reduce fixed costs and lower the break-even point. However, the effects of suspended operations, administration of the special membership suspension program, and store closures reduced membership fee revenue and prevented the company from absorbing expenses, resulting in lower revenue and profit.」

    Although the company continued to reduce fixed costs, the effects of suspended operations, the special membership suspension program, and store closures persisted, resulting in an operating loss of ¥1,933 million. While 9 Will_G stores were newly opened, 11 stores were closed, bringing the number of sports club stores to 190.
  16. FY2021-Q3WorsenedAnnual report

    「In this business, the company pursued initiatives to reduce fixed costs and lower the break-even point. However, the effects of suspended operations and the special membership suspension program, together with sluggish growth in new members, reduced membership fee revenue and prevented the company from absorbing expenses, resulting in lower revenue and profit.」

    Although the company worked to reduce fixed costs, membership fee revenue declined due to suspended operations, the special membership suspension program, and sluggish growth in new members, resulting in an operating loss of ¥1,615 million.
  17. FY2021-Q2WorsenedAnnual report

    「In this business, the number of cancellations, which had remained stable since May, increased in August due to the resurgence of infections. However, membership revenue showed a month-by-month recovery trend as the number of new members gradually recovered from June. Under the special membership suspension program, approximately 30% of members used the program through the end of June, while approximately 10% extended their use through the end of July following the resurgence of infections. From August onward, they moved to a paid suspension program. The company pursued initiatives to reduce fixed costs and lower the break-even point, but the effects of suspended operations and the special membership suspension program reduced membership fee revenue and prevented the company from absorbing expenses, resulting in lower revenue and profit.」

    While the number of new members and membership revenue showed signs of recovery, higher cancellations due to the resurgence of infections, the special membership suspension program, and suspended operations prevented membership fee revenue from absorbing expenses, and lower revenue and profit continued.
  18. FY2021-Q1WorsenedAnnual report

    「In this business, in addition to suspending operations, approximately 30% of members used the special membership suspension program through June. As a result, the decline in membership fee revenue prevented the company from absorbing expenses, resulting in lower revenue and profit.」

    While Will_G store openings continued, membership fee revenue declined due to suspended operations and a special membership suspension program used by approximately 30% of members, resulting in lower revenue and profit in the sports club business.
  19. FY2020SoftenedAnnual report

    「Regarding profit allocation, the company plans to temporarily limit investment in new sports club stores as part of its capital expenditure policy. With respect to shareholder returns, its basic policy is to provide stable and ongoing returns with a target payout ratio of 25%, while also recognizing the importance of increasing retained earnings to maintain the company's financial stability.」

    While expanding store openings, including Will_G, the company stated a policy of temporarily limiting investment in new sports club stores during the COVID-19 pandemic.
  20. FY2020-Q3AdvancedAnnual report

    「In this business, the company accelerated the opening of low-investment fitness gyms with affordable monthly membership fees under the Sports Club Actos Will_G (ウィルジー) brand. As part of its planned franchise expansion, operations began at 3 stores by the Alenza Group and 1 store by the Retail Partners Group, and the synergies envisaged through the intercompany partnerships are beginning to materialize.」

    As part of Will_G's franchise expansion, operations began at 3 stores by the Alenza Group and 1 store by the Retail Partners Group, bringing the synergies from the intercompany partnerships into the implementation stage.
  21. FY2020-Q2AdvancedAnnual report

    「In this business, the company accelerated the opening of low-investment fitness gyms with affordable monthly membership fees under the Sports Club Actos Will_G (ウィルジー) brand. It newly opened 23 stores, including 8 franchise-operated stores, bringing the total number of stores to 169 as of the end of the second quarter, including 36 franchise-operated stores. In August, 株式会社タイム, which operates the home improvement business, began franchise operations for the first time, marking the start of efforts to create the synergies envisaged through the partnership with アレンザホールティングス株式会社.」

    Twenty-three stores were newly opened, increasing the total number of stores to 169 and franchise operations to 36 stores. 株式会社タイム of the Alenza Group began operating a Will_G franchise for the first time.
  22. FY2020-Q1AdvancedAnnual report

    「In this business, the company accelerated the opening of low-investment fitness gyms with affordable monthly membership fees under the Sports Club Actos Will_G (ウィルジー) brand. It newly opened 11 stores, including 1 franchise-operated store, bringing the total number of stores to 157 as of the end of the first quarter, including 29 franchise-operated stores.」

    Eleven stores, mainly Will_G stores, were newly opened, bringing the number of sports club stores to 157 and franchise operations to 29 stores. However, revenue and profit declined due to delays in developing franchise stores and higher opening costs.
  23. FY2019AdvancedAnnual report

    「In this business, the company accelerated the opening of low-investment fitness gyms with affordable monthly membership fees under the Sports Club Actos Will_G (ウィルジー) brand. It newly opened 51 stores, including 1 comprehensive sports club and 1 tennis club, including 21 franchise-operated stores, bringing the total number of stores to 146 as of the end of the fiscal year, including 28 franchise-operated stores.」

    Fifty-one stores were newly opened during the year, increasing the total number of sports club stores to 146 and franchise operations to 28 stores.
  24. FY2019-Q3AdvancedAnnual report

    「In this business, the company accelerated the opening of low-investment fitness gyms with affordable monthly membership fees under the Will_G (ウィルジー) brand. It newly opened 39 stores, including 1 comprehensive sports club and 1 tennis club, including 13 franchise-operated stores, bringing the total number of stores to 134 as of the end of the third quarter, including 20 franchise-operated stores. At newly opened Will_G stores, the company also worked to simplify front-desk operations by adopting a cashless operating model.」

    Thirty-nine sports club stores were newly opened, increasing the total number of stores to 134 and franchise operations to 20 stores. Cashless operation also continued.
  25. FY2019-Q2AdvancedAnnual report

    「In this business, the company accelerated the opening of low-investment fitness gyms with affordable monthly membership fees under the Will_G (ウィルジー) brand. It newly opened 25 stores, including 1 comprehensive sports club and 1 tennis club, including 6 franchise-operated stores, bringing the total number of stores to 120 as of the end of the second quarter, including 13 franchise-operated stores. At newly opened Will_G stores, the company also worked to further simplify front-desk operations by adopting a cashless operating model.」

    Twenty-five sports club stores were newly opened, increasing the total number of stores to 120 and franchise operations to 13 stores. Efforts to simplify front-desk operations through cashless operation also continued.
  26. FY2019-Q1AdvancedAnnual report

    「In this business, the company accelerated the opening of low-investment fitness gyms with affordable monthly membership fees under the Will_G (ウィルジー) brand. It newly opened 10 stores, including 1 comprehensive sports club, including 1 franchise-operated store, bringing the total number of stores to 105 as of the end of the first quarter. At newly opened Will_G stores, the company also worked to further simplify front-desk operations by adopting a cashless operating model.」

    Ten stores, including Will_G stores, were newly opened, increasing the number of sports club stores to 105 and franchise operations to 8 stores. Cashless operation also continued at the newly opened stores.
  27. FY2018AdvancedAnnual report

    「In this business, the company accelerated the opening of low-investment fitness gyms with affordable monthly membership fees under the Will_G (ウィルジー) brand and made a full-scale entry into franchise operations. It newly opened 22 stores, including Actos Will_G Carib Umejima in Adachi-ku, Tokyo, including 4 franchise-operated stores, closed 2 stores, and converted 1 existing store to franchise operation, bringing the total number of stores to 95 as of the end of the fiscal year, including 7 franchise-operated stores. At 7 newly opened stores, the company also worked to further simplify front-desk operations by adopting a cashless operating model.」

    Twenty-two Will_G stores were newly opened, franchise operations expanded to 7 stores, and cashless operations expanded to 7 stores, bringing the number of sports club stores to 95.
  28. FY2018-Q3AdvancedAnnual report

    「In this business, the company accelerated the opening of low-investment fitness gyms with affordable monthly membership fees under the Will_G (ウィルジー) brand and made a full-scale entry into franchise operations. It newly opened 17 stores, including Actos Will_G Carib Umejima in Adachi-ku, Tokyo, including 3 franchise-operated stores, closed 1 store, and converted 1 existing store to franchise operation, bringing the total number of stores to 91 as of the end of the third quarter, including 6 franchise-operated stores.」

    Seventeen Will_G stores were newly opened, franchise operations expanded to 6 stores, and the number of sports club stores reached 91.
  29. FY2018-Q2AdvancedAnnual report

    「In this business, the company accelerated the opening of low-investment fitness gyms with affordable monthly membership fees under the Will_G (ウィルジー) brand and made a full-scale entry into franchise operations. It newly opened 12 stores, including Actos Will_G Carib Umejima in Adachi-ku, Tokyo, including 1 franchise-operated store, closed 1 store, and converted 1 existing store to franchise operation, bringing the total number of stores to 86 as of the end of the second quarter, including 4 franchise-operated stores. At 3 newly opened stores, the company also worked to further simplify front-desk operations by adopting a cashless operating model.」

    Twelve Will_G stores were newly opened, franchise operations expanded to 4 stores, and cashless operations were introduced at 3 stores, bringing the total number of stores to 86.
  30. FY2018-Q1AdvancedAnnual report

    「In this business, the company accelerated the opening of low-investment fitness gyms with affordable monthly membership fees under the Will_G (ウィルジー) brand. It newly opened 6 stores, including Actos Will_G Carib Umejima in Adachi-ku, Tokyo, closed 1 store, and converted 1 store to franchise operation, bringing the total number of stores to 80 as of the end of the first quarter, including 3 franchise stores. At 3 of the newly opened stores, the company also worked to further simplify front-desk operations by adopting a cashless operating model.」

    Six Will_G stores were newly opened, and franchise operation and cashless operation at 3 stores were introduced, bringing the number of sports club stores to 80.
  31. FY2017AdvancedAnnual report

    「Ten low-investment fitness gyms with affordable monthly membership fees, branded Will_G (ウィルジー), were newly opened, including 1 store opened under a franchise agreement, bringing the total number of stores to 75 as of the end of the fiscal year.」

    Ten Will_G stores were newly opened, increasing the number of sports club stores to 75. The company also expanded its healthcare services provided under contract to corporations and local governments.
  32. FY2017-Q3AdvancedAnnual report

    「Nine stores were newly opened under a focused expansion policy for Will_G, bringing the total number of stores to 74 as of the end of the third quarter.」

    Nine Will_G stores were newly opened, increasing the number of sports club stores to 74. Membership and paid programs also grew, resulting in higher revenue and profit.
  33. FY2017-Q2AdvancedAnnual report

    「Seven stores were newly opened under a focused expansion policy for Will_G, bringing the total number of stores to 72 as of the end of the second quarter.」

    Seven Will_G stores were newly opened, increasing the number of sports club stores to 72. Membership and paid programs also grew.
  34. FY2017-Q1AdvancedAnnual report

    「Membership increased, centered on the low-investment, low-monthly-fee Will_G fitness gyms. With the opening of 3 new stores, including アクトスWill_G瑞穂 in Mizuho, Nishitama District, Tokyo, in April 2016, the number of stores reached 68 as of the end of the first quarter.」

    Membership increased, centered on Will_G, and 3 new stores were opened, increasing the number of stores from 65 to 68.
  35. FY2016AdvancedAnnual report

    「The Will_G fitness gym, which began opening stores in earnest in the previous fiscal year with low investment and low monthly membership fees, gained traction. With the opening of 7 new stores, including アクトスWill_Gいこらも~る泉佐野 in Izumisano, Osaka Prefecture, in May 2015, the number of stores reached 65 as of the end of the fiscal year.」

    The low-investment, low-membership-fee model gained traction, with 7 new stores opened during the fiscal year, bringing the total number of sports club stores to 65.
Moved together

"Expanding the Corporate Scale and Building a Dominant Market Presence through New Store Openings" moved the same way as this thread, in the same document, in 23 of its 35 moves.

232322222220★123456
  1. ★This thread
  2. 1Expanding the Corporate Scale and Building a Dominant Market Presence through New Store Openings23×
  3. 2A vertically integrated manufacturing and retail model spanning procurement, processing and sales23×
  4. 3Strengthening the Home Improvement Business’s Expertise and Regional Market Share22×
  5. 4Structural Reform and Profitability Improvement in the Supermarket Business22×
  6. 5Building a dominant presence in the Tokai and Hokuriku regions through M&A22×
  7. 6Accelerating Drugstore Openings and Improving Profitability20×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for Valor Holdings yet. It last moved in the Earnings of 2026-08-07: "Mitigated".
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Expansion of Will_G, a Low-Investment, Low-Membership-Fee Fitness Gym Format | VALOR HOLDINGS CO.,LTD. (9956) | Komori