Worth reading
50Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
-5236
Millions of yen (reduction in the net sales target for the fiscal year ending March 2027)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales-8.9%
基準 58,749Target53,513million
Net income for the current fiscal year-30.3%
基準 3,029Target2,112million
ROE-2.7pt
基準 9.4Target6.7%
ROIC-2.1pt
基準 8.8Target6.7%
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. For metrics expressed as percentages, differences are shown in percentage points (pt).
Key initiatives
01Cautious new store openings
02Proactive closure of unprofitable stores
Plan assumptionsHeightened consumer spending-conservation awareness due to rising prices, Tax reform for the fiscal year ending March 2027 (application of the size-based business tax)
Segment targetSegment サックスバーホールディングス + 東京デリカ / Net Sales Original plan ¥51,306 million / After revision ¥46,992 million / Ordinary income Original plan ¥4,165 million / After revision ¥2,865 million / Existing-store growth rate Original plan 102.1 % (compared with the fiscal year ending March 2025) / After revision 103.2 % (compared with the fiscal year ending March 2025) / Gross profit margin Original plan 50.9 % / After revision 50.3 % / Number of Stores at Period-End Original plan 565 stores / After revision 547 stores, Segment ギアーズジャム / Net Sales Original plan ¥2,685 million / After revision ¥2,116 million / Ordinary income Original plan ¥165 million / After revision ¥94 million / Existing-store growth rate Original plan 104 % (compared with the fiscal year ending March 2025) / After revision 99.6 % (compared with the fiscal year ending March 2025) / Number of Stores at Period-End Original plan 37 stores / After revision 28 stores, Segment 三香堂 / Net Sales Original plan ¥403 million / After revision ¥395 million / Ordinary income Original plan ¥58 million / After revision ¥31 million / Number of Stores at Period-End Original plan 10 stores / After revision 9 stores, Segment アイシン通商 + スカイル / Net Sales Original plan ¥5,375 million / After revision ¥4,745 million / Ordinary income Original plan ¥607 million / After revision ¥467 million / Gross profit margin Original plan 36 % / After revision 38.5 %
Non-financial targetsIndicator Number of stores at the end of the fiscal year ending March 2027 / Original plan 612 stores / After revision 584 stores / Timing End of March 2027, Indicator 東京デリカ store openings / closures / Original plan 33 stores / 25 stores / After revision 49 stores / 57 stores / Timing 2025/4～2027/3, Indicator ギアーズジャム store openings / closures / Original plan 12 stores / 0 stores / After revision 10 stores / 5 stores / Timing 2025/4～2027/3, Indicator 三香堂 store openings / closures / Original plan 2 stores / 0 stores / After revision 1 store / 0 stores / Timing 2025/4～2027/3
Risks identified by the company
Heightened consumer spending-conservation awareness due to rising prices
Reduced purchases of bags and other products
Application of the size-based business tax in the fiscal year ending March 2027
Reason for revision or withdrawal
The revision incorporates the trend toward reduced purchases of bags and other discretionary products as rising prices heightened consumers’ desire to conserve spending; a 0.2 percentage-point year-on-year decline in the gross profit margin and a 1.4 percentage-point increase in the ratio of selling, general and administrative expenses; the continuation of cautious new store openings and proactive closure of unprofitable stores; and the estimated impact of the tax reform for the fiscal year ending March 2027, including application of the size-based business tax.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan for the Fiscal Years Ending March 2025 to March 2027 |
| Plan period | Fiscal years ending March 2025 to March 2027 |
| Progress against the plan | Partially revised |
| Sales Target | ¥58,749 million → ¥53,513 million（-8.9%） |
| Net income target | ¥3,029 million → ¥2,112 million（-30.3%） |
| ROE target | 9.4 % → 6.7 %（-28.7%） |
| ROIC target | 8.8 % → 6.7 %（-23.9%） |
| Segment target | Segment サックスバーホールディングス + 東京デリカ / Net Sales Original plan ¥51,306 million / After revision ¥46,992 million / Ordinary income Original plan ¥4,165 million / After revision ¥2,865 million / Existing-store growth rate Original plan 102.1 % (compared with the fiscal year ending March 2025) / After revision 103.2 % (compared with the fiscal year ending March 2025) / Gross profit margin Original plan 50.9 % / After revision 50.3 % / Number of Stores at Period-End Original plan 565 stores / After revision 547 stores, Segment ギアーズジャム / Net Sales Original plan ¥2,685 million / After revision ¥2,116 million / Ordinary income Original plan ¥165 million / After revision ¥94 million / Existing-store growth rate Original plan 104 % (compared with the fiscal year ending March 2025) / After revision 99.6 % (compared with the fiscal year ending March 2025) / Number of Stores at Period-End Original plan 37 stores / After revision 28 stores, Segment 三香堂 / Net Sales Original plan ¥403 million / After revision ¥395 million / Ordinary income Original plan ¥58 million / After revision ¥31 million / Number of Stores at Period-End Original plan 10 stores / After revision 9 stores, Segment アイシン通商 + スカイル / Net Sales Original plan ¥5,375 million / After revision ¥4,745 million / Ordinary income Original plan ¥607 million / After revision ¥467 million / Gross profit margin Original plan 36 % / After revision 38.5 % |
| Non-financial targets | Indicator Number of stores at the end of the fiscal year ending March 2027 / Original plan 612 stores / After revision 584 stores / Timing End of March 2027, Indicator 東京デリカ store openings / closures / Original plan 33 stores / 25 stores / After revision 49 stores / 57 stores / Timing 2025/4～2027/3, Indicator ギアーズジャム store openings / closures / Original plan 12 stores / 0 stores / After revision 10 stores / 5 stores / Timing 2025/4～2027/3, Indicator 三香堂 store openings / closures / Original plan 2 stores / 0 stores / After revision 1 store / 0 stores / Timing 2025/4～2027/3 |
| Plan assumptions | Heightened consumer spending-conservation awareness due to rising prices, Tax reform for the fiscal year ending March 2027 (application of the size-based business tax) |
| Key initiatives | Cautious new store openings, Proactive closure of unprofitable stores |
| Reason for revision or withdrawal | The revision incorporates the trend toward reduced purchases of bags and other discretionary products as rising prices heightened consumers’ desire to conserve spending; a 0.2 percentage-point year-on-year decline in the gross profit margin and a 1.4 percentage-point increase in the ratio of selling, general and administrative expenses; the continuation of cautious new store openings and proactive closure of unprofitable stores; and the estimated impact of the tax reform for the fiscal year ending March 2027, including application of the size-based business tax. |
| Risks identified | Heightened consumer spending-conservation awareness due to rising prices, Reduced purchases of bags and other products, Application of the size-based business tax in the fiscal year ending March 2027 |
| Date of board resolution | 15 May 2026 |
| Publication date | 15 May 2026 |
Items this document does not state (10)
Operating profit targetOperating profit margin targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorResults under the previous planSize of the Target Market
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.Performance deteriorated as rising prices heightened consumers’ desire to conserve spending, resulting in reduced purchases of bags and other products, a decline in the gross profit margin and an increase in the ratio of selling, general and administrative expenses. The revision also incorporates the continuation of cautious new store openings and the closure of unprofitable stores, as well as the application of the size-based business tax in the fiscal year ending March 2027.
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.