Trial Holdings.inc. · TSE:141A
Trial Holdings.inc — FY2026 Earnings Presentation
43 slides from Trial Holdings.inc's earnings presentation, Aug 13, 2026
Slide 1: Financial Results Presentation FY6/2026
Financial Results Presentation Revolutionize "real commerce" FY6/2026 around the globe with (July 1, 2025 - June 30, 2026) technology and practical savvy. TRIAL Holdings, Inc. August 13, 2026
Slide 2: Contents
Contents １ FY6/2026 Financial Results 2 FY6/2027 Consolidated Forecast 3 Appendix (Partial modification to Q1-Q3 Figures, Company Overview)
Slide 3: FY6/2026 Financial Results
FY6/2026 Financial Results The following outlines the relationship between "TRIAL HD Consolidated," "TRIAL," “SEIYU," and "M&A-Related Costs" as used in this material: New format “TRIAL SEIYU,” which consists the conversion of SEIYU stores, is included under “SEIYU.” M&A-Related Costs TRIAL SEIYU (F
Slide 4: FY26 Highlights / Forecast for FY27
FY26 Highlights / Forecast for FY27 FY6/2026 3 ■ Consolidated net sales for FY6/2026 The biggest achievement in the first year of SEIYU’s PMI was a significant recovery in customer satisfaction. SEIYU’s same-store customer traffic improved month by month, while TRIAL’s customer traffic also moved in
Slide 5: Highlights
Highlights FY6/2026 4 SEIYU’s consolidation significantly expanded the Group’s scale, both TRIAL and SEIYU continued to achieve SSS growth and FY26 FY26Financial FinancialResults Results TRIAL further improved the profitability. Consolidated sales reached 1 trillion yen for the first time, accomplis
Slide 6: Q4 & FY26 Earnings Summary
Q4& FY26 Earnings Summary (TRIAL HD Consolidated) FY6/2026 5 Consolidated net sales rose 67.6% YoY to ¥1,347.1 bn, driven by the consolidation of SEIYU, exceeding the revised plan. OP FY26 FY26Financial FinancialResults Results totaled ¥30.3 bn, surpassing the revised forecast by ¥2.3 bn, while EBIT
Slide 7: 4Q & FY26 Results by Business Segment
4Q&FY26 Results by Business Segment FY6/2026 6 Distribution and Retail Business: The total store count expanded to 621, driven by 26 TRIAL new stores and the consolidation of 245 FY26 FY26Financial FinancialResults Results SEIYU stores. SSS remained solid, with TRIAL posted 2.1% YoY and SEIYU turnin
Slide 8: FY26 Earnings Summary (TRIAL+SEIYU)
FY26 Earnings Summary (TRIAL+SEIYU) FY6/2026 7 In the M&A-related expenses, ¥2.4 bn in advisory fees etc., ¥1.2 bn in bridge loan fees, and ¥5.5 bn in refinancing costs for the syndicated loans were one-time expenses incurred in FY2026. Goodwill will be amortized over 20 years, while interest expens
Slide 9: Q4 Earnings Summary (TRIAL+SEIYU)
Q4 Earnings Summary (TRIAL+SEIYU) FY6/2026 8 In Q4, “M&A-Related Costs” includes approx. ¥5.5 bn in refinancing costs from a bridge loan to a syndicated loan, recorded under non-operating expenses, as a one-time costs incurred only in Q4 FY6/2026. The refinancing to the syndicated loan was FY26 FY26
Slide 10: Q4 & FY26 Earnings Summary (TRIAL)
Q4&FY26 Earnings Summary (TRIAL) FY6/2026 9 TRIAL delivered a 10.2% increase in net sales, with addition of 26 stores and 2.1% YoY SSS growth. Pricing initiatives, alongside FY26 FY26Financial FinancialResults Results enhanced Ready Meals/PB, boosted GPM by 1.8pts to 22.3%, while OP surge by 62.8%,
Slide 11: Q4 & FY26 Earnings Summary (SEIYU)
Q4&FY26 Earnings Summary (SEIYU) FY6/2026 10 In the first year of integration with TRIAL Group, top priority was given to shifting from a former “profitability-first” approach to the one focused on “enhancing customer satisfaction.” Thoroughly building customer-centric store refinements significantl
Slide 12: Same Store Sales Trends (YoY, TRIAL)
Same Store Sales Trends (YoY, TRIAL) FY6/2026 11 Enhancing “food” focusing on fresh products to be the region‘s No.1 daily necessities store. Same Store Sales Growth FY26 FY26Financial FinancialResults Results Starting Jun 2025, full-scale rollout of pricing strategy, higher unit prices successfully
Slide 13: Same Store Sales Trends (YoY, SEIYU)
Same Store Sales Trends (YoY, SEIYU) FY6/2026 12 Strengthening Competitiveness to Enhance Customer Support and Deliver “Happiness with SEIYU in Your Everyday Life” FY26 FY26Financial FinancialResults Results Customer-centric merchandising has rapidly advanced since the integration with the TRIAL Gro
Slide 14: SEIYU Format Changes and Model Stores
SEIYU Format Changes and Model Stores FY6/2026 13 Initiatives to enhance customer satisfaction confirmed significant improvements in both sales and customer traffic, across FY26 FY26Financial FinancialResults Results format-converted stores and new model stores. By rolling out these proven successfu
Slide 15: Update from TRIAL SEIYU & SEIYU Model Store
UPDATE from TRIAL SEIYU & SEIYU Model Store FY6/2026 14 TRIAL SEIYU opens the first Chiba location, and it counts four stores now, with refined store models paving the way for future FY26 FY26Financial FinancialResults Results growth. Small & Mid-Sized Models are taking measures including digital si
Slide 16: Store Renovation
Store Renovation FY6/2026 15 TRIAL renovated stores primarily focused on optimizing the sales floor centered on "Food" and introducing retail technology FY26 FY26Financial FinancialResults Results such as the Skip Cart. In Q4, 4 Super Center and 1 smart were renovated. Financial Summary Results by B
Slide 17: Store Openings, Closures and Format Changes
Store Openings, Closures and Format Changes FY6/2026 16 In Q4 we opened 9 stores (1 MEGA, 7 Super Center, and 1 (TRIAL GO) Small Format) and closed 3 smart. The total store count 621 at the end of Q4, on track with our full-year plan. In addition, one Hypermarket was converted to the FY26 FY26Financ
Slide 18: Status of Store Openings
Status of Store Openings FY6/2026 17 378 stores 243 stores Q4 FY6/2026 FY26 FY26Financial FinancialResults Results MEGA Super Small Hyper Super TRIAL Himeji Shigo (Hyogo) Financial Summary Center Center smart Format market market SEIYU Super Center Fukaya Kawamoto (Saitama) Apr Results by Business S
Slide 19: TRIAL GO
TRIAL GO FY6/2026 18 Aiming to expand our store footprint in the Tokyo metropolitan area, we are striving to create stores that inspire daily visits and frequent returns Based on 5 Existing Store Results Customer Needs Addressed by TRIAL GO While maintaining stable sales even after the initial grand
Slide 20: FY26 Sales by Product Category
FY26 Sales by Product Category FY6/2026 19 TRIAL sales of Fresh, a key traffic driver with high profitability, rose 17.1% YoY, driving sales and profit growth in the FY26 FY26Financial FinancialResults Results Distribution and Retail business. Ready Meals grew the sales by 21.7%, raising their sales
Slide 21: Q4 Sales by Product Category
Q4 Sales by Product Category FY6/2026 20 FY26 FY26Financial FinancialResults Results From April 1, 2026 Financial Summary Q4 FY6/2026 to June 30, 2026 Q4 FY6/2025 Results by Business Segment TRIAL SEIYU TRIAL Group Existing Stores / Renovation (Millions of yen) Actual Share Actual Share YoY YoY(%) A
Slide 22: PB Product Development Initiatives
PB Product Development Initiatives FY6/2026 21 Promoting the development of PB products bringing value to customers, based on customer insights gained through data. FY26 FY26Financial FinancialResults Results The sales share of PB grew to 20.1% for TRIAL and 13.8% for SEIYU. Progressing towards the
Slide 23: Execution of Gross Profit Growth Strategy
Execution of Gross Profit Growth Strategy FY6/2026 22 The pricing strategy implemented from Q4 delivered a significant GPM growth of 0.8 pts YoY. We promoted price optimization using customer data, developed valuable products, and created appealing store layouts. While executing measures such as the
Slide 24: Q4 & FY26 Breakdown of SG&A expenses
Q4&FY26 Breakdown of SG&A expenses (TRIAL HD Consolidated) FY6/2026 23 SG&A increased to ¥307.0 bn (approx. 2.1x YoY), following the consolidation of SEIYU, mainly due to higher personnel and FY26 FY26Financial FinancialResults Results real estate costs, but remained broadly in line with the plan at
Slide 25: Better Customer Experience by Skip Cart
Better Customer Experience by Skip Cart FY6/2026 24 To test Skip Cart impact, other retailers installed the carts to see if it improves the customer experience and reduces labor cost at checkout. We are currently implementing system improvements and other initiatives aimed at further enhancing the F
Slide 26: Consolidated Balance Sheets
Consolidated Balance Sheets (TRIAL HD Consolidated) FY6/2026 25 In Q1, as financing for the full acquisition of SEIYU, short-term borrowings (bridge loans) of ¥367.4 bn were recorded, along with goodwill of ¥291.9 bn recorded as an intangible asset. The bridge loans were refinanced with syndicated l
Slide 27: Consolidated Cash Flow Statements
Consolidated Cash Flow Statements (TRIAL HD Consolidated) FY6/2026 26 The acquisition of SEIYU shares (Investing Activities CF) for its full acquisition, along with the increase in borrowings FY26 Financial Results (Financing Activities CF), have significantly impacted the cash flow. Over the medium
Slide 28: FY6/2027 Consolidated Forecast
FY6/2027 Consolidated Forecast
Slide 29: FY27 Consolidated Forecast
FY27 Consolidated Forecast (TRIAL HD Consolidated) FY6/2026 28 Net sales and operating profit both exceeded the initial plan set when MTP was formulated. Building on these strong results as a new starting point, the Company plans to achieve steady profit growth from the first year, driven by growth
Slide 30: FY27 Consolidated Forecast: Operating Profit Bridge
FY27 Consolidated Forecast FY6/2026 29 SEIYU will strengthen upfront investments, including workforce expansion, to support sustainable long-term growth. TRIAL will accelerate the monetization of integration synergies and drive consolidated profit growth through significant earnings growth. Combined
Slide 31: Joint Strategic Policy of TRIAL
Joint Strategic Policy of TRIAL FY6/2026 30 Building on the pricing initiatives established in FY6/2026, TRIAL will accelerate the monetization of procurement and product synergies from the integration with SEIYU, driving consolidated profit growth through improved GPM and significant earnings growt
Slide 32: Joint Strategic Policy of SEIYU
Joint Strategic Policy of SEIYU FY6/2026 31 Building on the significant recovery in customer satisfaction in FY2026, SEIYU will prioritize the most important KPI to further growth in customer traffic. To support sustainable growth through the final year of MTP and beyond, we will strengthen upfront
Slide 33: Joint Strategic Policy of TRIAL and SEIYU (Retail AI Business)
Joint Strategic Policy of TRIAL and SEIYU (Retail AI Business) FY6/2026 32 Advancing initiatives and system development toward achieving the Mid-Term Management Plan and transitioning the DX strategy into the monetization phase. FY26 Financial Results Financial Summary DX Strategies Mid-Term Managem
Slide 34: Cash Allocation / Capital Efficiency
Cash Allocation / Capital Efficiency FY6/2026 33 Prioritize capital expenditures for organic growth while steadily improving financial soundness through EBITDA growth and disciplined debt repayment. Targeting a Net Debt/EBITDA ratio of 3.0x or less by FY2029, balancing growth investments, financial
Slide 35: Appendix
TIRIAL HLDGS Appendix
Slide 36: Earnings Summary (Modification)
Earnings Summary (Modification) FY6/2026 35 From Q4 FY6/26, the presentation of intercompany transactions between TRIAL and SEIYU from separate disclosure as “Reconciling items” to deducting them from the respective results, in order to appropriately reflect the sales generated from external transac
Slide 37: Philosophy
Philosophy FY6/2026 36 FY26 Financial Results Financial Summary Enrich every aspect of people’s lives Results by Business Segment through all we do. Existing Stores / Renovation Purpose Store Opening / Closure Raison d'être Sales by Category / PB GP Improvement Breakdown SG&A Retail Tech Vision Revo
Slide 38: New Management Structure
New Management Structure FY6/2026 37 Effective April 1, 2026, the Group transitioned to a new organizational structure to accelerate its mid-term management plan. “TRIAL Company, Inc.” was positioned as the core company for Distribution and Retail business, while the newly established “Competitive S
Slide 39: History
History Started with IT FY6/2026 38 Retail Evolution of Real Stores and Expansion of Store Networks TRIAL Group Business Reorganization 1st TRIAL Store 1st Acceleration of Super Center Opening Stores at Nationwide Acquired CowBoy Co., Ltd., a Acquired Meijiya, Inc. Food-focused Supermarket a ready m
Slide 40: Strong Track Record of Continuous Sales Growth
Strong Track Record of Continuous Sales Growth FY6/2026 39 Accomplished sales growth for 26 consecutive fiscal years*1 through flexible strategies adapting to market changes. FY26 Financial Results 26 1,400 700 Financial Summary (JPY Bn) Transformational Expansion of Group Scale Through SEIYU Integr
Slide 41: Sales Ranking in the Retail Industry
Sales Ranking in the Retail Industry FY6/2026 40 Sales has been growing for 26 consecutive fiscal years through the execution of strategies up-to-date. Aiming at further expand in sales by deepening customer understanding through "real stores multiplies data.” FY26 Financial Results With the full ac
Slide 42: Stock Situation As of June, 2026
Stock Situation As of June, 2026 FY6/2026 41 FY26 Financial Results Shares / Shareholders Principal Shareholders Financial Summary Authorized 320,000,000 shares Shareholding No. Name Shares Held ratio*1 Results by Business Segment Issued 122,848,400 shares Treasury Stock 75,918 shares 1 THC Corporat
Slide 43: Contact
⚫ Contact TRIAL Holdings, Inc. IR Department TEL：+81-3-6435-6308 / e-mail：ir@trial-holdings.inc ⚫ Next Financial Results (Scheduled) : Q1 FY6/2027 ・November 12, 2026 - Financial Results Announcement (Results Summary Disclosure) - Financial Results Briefing (For Analysts and Institutional Investors)