Fiscal Year Ending February 2026 (68th Term) Q3 Financial Results DATA BOOK (March 1, 2025 – November 30, 2025)

Performance Overview

In the third quarter of the fiscal year ending February 2026, revenue increased significantly to 207,938 million yen, representing 124.5% Year-over-Year growth. Net income attributable to owners of the parent rose to 9,745 million yen, up 116.3% Year-over-Year, while operating income also showed solid performance at 15,894 million yen (111.3% Year-over-Year). Core operating income was 14,503 million yen, marking a slight increase at 102.0% Year-over-Year. Both ROE at 14.1% and ROIC at 4.0 demonstrated improvement trends.

Segment Performance and Business Trends

The Brand Business accounted for approximately 83.9% of revenue, with sales of 140,030 million yen, remaining nearly flat Year-over-Year at 99.9%. The Platform Business saw substantial growth, reaching 59,066 million yen, a 373.7% increase Year-over-Year, whereas the Digital Business declined to 8,663 million yen, or 79.1%. The number of stores increased to 2,350 compared to the previous year, with the e-commerce ratio at 16.54%. Capital expenditure rose to 7,244 million yen, up 126.6% Year-over-Year, alongside a growing workforce.