Fiscal Year Ending February 2027 — Q2 Supplementary Financial Materials

Performance Overview

In Q2 of the fiscal year ending February 2027 on a consolidated basis, net sales reached 59,139 million yen, representing a YoY increase of 116.9%. Operating profit was 2,752 million yen, up 209.7% YoY, and net income attributable to owners of parent rose significantly to 1,471 million yen. On a quarterly basis, net sales were 12,169 million yen, gross profit margin was in the low 60% range, and SG&A ratio was around 61%, suggesting both solid sales growth and expense control. The China joint venture reported total sales of 7,416 million yen and total profit of 483 million yen, contributing to overall profitability.

Outlook and Key Considerations

The composition of sales between physical stores and online channels remains important. Trends in domestic store counts and overseas expansion, particularly the China joint venture, will affect overall profits. Key points to watch are whether quarterly profit improvements continue and whether SG&A cost containment persists. In the medium term, strengthening existing brands and contributions from new brands could drive performance.