Komehyo Holdings Co., Ltd. · TSE:2780
Komehyo — Q3 FY2026 Earnings Presentation
37 slides from Komehyo's earnings presentation, Feb 13, 2026
Slide 1: Third Quarter Financial Results Presentation
Third Quarter Financial Results Presentation Video for the Fiscal Year Ending March 2026 KOMEHYO February 13, 2026 Tohono oe Komehyo Holdings Co., Ltd. Securities code: 2780 (Tokyo and Nagoya Stock Exchanges) Thank you for listening. I am Ishihara, President and CEO of Komehyo Holdings Co., Ltd. I w
Slide 2: Summary of financial results for the third quarter
LNG Ss Summary of financial results for the third quarter of the fiscal year ending March 31, 2026 Revenue and profits increased compared to the same period last year. Net sales, operating profit, and ordinary profit reached record highs in Q3 both YTD and ona quarterly basis. + Net sales : Sales in
Slide 3: Evaluation of the third quarter (three months)
Evaluation of the third quarter (three months) of the fiscal year ending March 2026 Both retail and corporate sales achieved higher than expected sales. While retail profit margins remained strong, an increase in corporate sales of low-margin gold bullion limited gross profit margins. However, the s
Slide 4: Assumptions for the fourth quarter
KOM EH Y 0 —— — HOLDING Brand Fashion Business | Assumptions the fourth quarter of the fiscal year ending March 2026 * Following strong performance during the three months of Q3, the profitability of achieving the full-year plan increased. + The sales growth rate is expected to level off from the Q4
Slide 5: Effects of M&A in the fiscal year ending March 2025 and future outlook
Effects of M&A in the fiscal year ending March 2025 and future outlook Due to RK Enterprise, Rs-JAPAN*, and RODEO DRIVE JAPAN Co., LIMITED becoming subsidiaries, they began contributing to consolidated results from the fourth quarter of the fiscal year ending March 31, 2025. The remarkable YoY growt
Slide 6: Contents
Contents 1. Our Business Model and Medium-term Management Plan 2. Earnings Results for the Third Quarter of the Fiscal Year Ending March 31, 2026 3. Segment overview for the Third Quarter of the Fiscal Year Ending March 31, 2026 4. Appendix KOM EH Y 0 —— HoLDINGS P.7 P.17 P.29 P.37 These are the mai
Slide 7: Our business model and medium-term management plan
First, let me talk about our business model and medium-term management plan.
Slide 8: From reuse to relay use
From reuse to relay use We will inherit that "value". Vision We develop a concept of environmentally and socially conscious recycling into a culture Mission products, thank people for providing products for use by other people, and make people who reuse such products happy, and by doing so, create a
Slide 9: Company Highlights (consolidated)
Company Highlights (consolidated) (As of March 2025) A leading player in the reuse industry, which operates KOMEHYO, BRAND OFF, Rodeo Drive, and other brands in Japan and other countries Net sates nvisust purchase amount | «fl 1 947 1 58 IIA minions of yen 78, 834 niions of yen (Growth achieved in f
Slide 10: Position of the Medium-term Management Plan
Position of the Medium-term Management Plan We aim to achieve sales of 260 billion yen by the 80th anniversary of the company's founding, which is the final year of the Medium-term Management Plan, with a view to becoming the world's No. 1 the world's No. 1 company company in sales of brand goods fo
Slide 11: Basic Policies for the Medium-term Management Plan
Basic Policies for the Medium-term Management Plan "Beyond the 80th year milestone" Strive to achieve business growth and higher social value under a policy based on the business environment and competitive advantages 1 Achieving business growth Increasing domestic and overseas market shares through
Slide 12: Concept for business growth (BF business)
Concept for business growth (BF business) Based on market trends and competitive advantages, we will set key investment items, supporting management platforms, and tactical options. For the mainstay Brand Fashion business, we aim to expand sales and GMV globally by defining three businesses: @ tradi
Slide 13: Operating the Medium-term Management Plan Based on Competitive Advantages
KOMEH Y 0 —— Ho os LopuN Operating the Medium-term Management Plan Based on Competitive Advantages Since its founding, the Group has been consistently engaged in reuse and has established competitive advantages based on its human resources, channels, and market share. The Medium-term Management Plan
Slide 14: Quantitative targets of the medium-term management plan
HOLDINGS Quantitative targets of the medium-term management plan (FY2025 to FY2028) For the fiscal year ending March 2026, the company aims to achieve business growth through increased profits compared to net income attributable to parent company shareholders excluding gains on negative goodwill for
Slide 15: Progress of each domain (BF business)
The Medium-term Management Plan Progress of each domain (BF business) The effects of strategic investments became evident, with steady progress in all areas of trading, distribution involvement, and participation in market growth, including accelerated store openings in Japan and overseas, growth of
Slide 16: Dividend forecast
KOM EH Y 0 —— Dividend forecast The annual dividend forecast is set to be 106 yen, an increase of 2 yen from the previous fiscal year. We will continue to focus on maintaining stable dividends and increasing dividends based on increased revenue and profits. Medium-term Management Plan (yen) 161 mint
Slide 17: Earnings Results for the Third Quarter
2. Earnings Results for the Third Quarter of the Fiscal Year Ending March 31, 2026 Now, I would like to talk about our consolidated financial results for the third quarter of the fiscal year ending March 31, 2026.
Slide 18: Highlights of cumulative financial results for the third quarter
KOM EH Y 0 —— HoL DINGS Highlights of cumulative financial results for the third quarter of the fiscal year ending March 31, 2026 Consolidated financial results for the third quarter of the fiscal year ending March 2026 Individual purchase a Consolidated Consolidated Profit attributable to amount (c
Slide 19: Performance
KOMEHY «oO Performance Net sales, operating profit, and ordinary profit reached record highs in Q3 both YTD and ona quarterly basis. (Millions of yen) 2026.3-1Q Net sales 46,120 Gross profit 9,841 Gross profit margin 21.3% SG&A expenses 8,958 Operating profit 883 pare profit 1.9% Ordinary profit 652
Slide 20: Trends in Consolidated Net Sales and Gross Profit Margin
KOMEH YO — | Ho L DING Trends in Consolidated Net Sales and Gross Profit Margin Strong purchases led to the securing of high-quality inventory, which significantly boosted the Group's overall earnings. Consolidated sales (Millions of yen) 61,859 47,179 46,120 , 4 42,368 35,318 ‘35,947 34,377 33,499
Slide 21: Analysis of consolidated operating income
KOMEH YO — HoL DINGS Analysis of consolidated operating income The securing of high-quality inventory and growth in domestic and duty-free sales in the peak retail season drove profit growth. A substantial increase in gross profit exceeded the strategic increase in SG&A expenses, and operating profi
Slide 22: Changes in selling, general and administrative expenses
KOM EH Y 0 — | Ho L DING Changes in selling, general and administrative expenses SG&A expenses increased due to continued aggressive investments in store openings, hiring, and training. However, the SG&A to sales ratio improved YoY due to a significant increase in sales, and management efficiency st
Slide 23: Non-operating income and expenses/extraordinary income and losses
KOMEH YO — HoLDING Ss Non-operating income and expenses/extraordinary income and losses One-time expenses pushed profits down due to an increase in non-operating expenses, including an increase in interest expenses and a loss related to fraud at a consolidated subsidiary. Interest expenses 399 (Mill
Slide 24: Balance sheet overview
Balance sheet overview Ample high-quality inventory was secured at record levels by strengthening purchases from individuals toward the peak retail season at the end of the year. Working capital also increased due to business expansion, and total assets expanded. This developed a solid asset base to
Slide 25: Inventory Turnover (BF business)
Inventory Turnover (BF business) In addition of RK Enterprises and three other companies into Group companies in the fiscal year ended March 31, inventories increased significantly (within which inventory write-downs remained low’) ,the inventory turnover ratio is on an improving trend, driven by st
Slide 26: Purchase from individual customers (Group total)
KOMEH YO — HOLDINGS Purchase from individual customers (Group total) Individual purchase value remained strong due to continued opening of purchase centers, growth of existing stores, and an increase in goods brought in to stores due to soaring gold bullion prices. The total amount of purchases hit
Slide 27: Breakdown of consolidated Net sales (Retail / Overseas / Domestic tax-free)
Lot KOMEH YO Breakdown of consolidated Net sales (Retail / Overseas /Domestic tax-free sales) 4 aan . i i % + 3Q cumulative retail ratio : 44.7% 3 cumulative overseas ratio : 12.3 . 7 nay + The retail ratio remained low at the end of the * Overseas sales expanded steadily due to aoa ta age © Domesti
Slide 28: Breakdown of domestic duty-free sales
Corporate Profle Breakdown of domestic duty-free sales In terms of composition by country/region, the composition of U.S. customers increased by 4.4 points YoY due to the effect of the opening of KOMEHYO OSAKA SHINSAIBASHI in June 2025 and macroeconomic factors such as yen depreciation and inflation
Slide 29: Segment overview for the Third Quarter
3. Segment overview for the Third Quarter of the Fiscal Year Ending March 31, 2026 Next, I will give you an overview of the segments.
Slide 30: Summary by segment for the third quarter
KOMEH YO — oo HOLDING Summary by segment for the third quarter of the fiscal year ending March 31, 2026 Brand Fashion business (BF) * Tire and wheel business (TW) Operating profit Individual Net sales Operating profit Net sales purchase amount 73,844 152,327 5,235 5,150 347 millions of yen millions
Slide 31: Segment overview for the Fiscal Year Ending March 31, 2026
KOMEH YO — HoL DINGS Segment overview for the Second Quarter of the Fiscal Year Ending March 31, 2026 [Brand Fashion business) Net sales reached a record high due to strong purchasing activities and strategies to capture retail demand. Despite lower profit on a year-to-date basis, we laid a solid fo
Slide 32: Stores: stores in total for the Group
KOMEHYO Ho os Fi LouN Stores | 331 stores in total for the Group (as of December 2025) Overseas, we opened a total of 6 new stores in Asian regions, including stores with purchasing capabilities and sales stores, expanding our sales channels. Together with the 7 stores opened in Japan, we opened a t
Slide 33: Purchasing and sales status by route
Purchasing and sales status by route | €} KOMEHYO [Ratio of purchases from individuals and composition of products purchased from individuals} Due to the rising price of gold, individual purchases are trending favorably. Corporate purchases were made to expand business scale and strengthen retailing
Slide 34: Status of strengthening individual purchases and retail sales
KOMEHYO Ho os LopuN BF business | Status of strengthening individual purchases and retail sales In Q3, we further accelerated the opening of overseas stores and solidified the foundations for growth. From Q4 and beyond, we will continue to expand the business in Japan and overseas, striving to reali
Slide 35: Corporate auction GMV (volume) growth
KOMEHY =) HOLDING Corporate auction GMV (volume) growth The B2B auction business serves as the core of the Group’s “Business that contribute to distribution.” Corporate auction GMV reached a record quarterly high due to increased needs for inter-company sales reflecting market fluctuations. GMV volu
Slide 36: The Tire and Wheel business: Business Overview
KOMEHYO Hoo Nos Lou The Tire and Wheel business |Business Overview ———=—=~m CP comm Net sales reached a record high, driven by summer tire sales and overseas sales of in-house designed wheels. Profits were down due to sales competition of winter tire sales caused by a warm winter and strategic inves
Slide 37: Disclaimer
KOMEH Y 0 —— HOLDINGS Disclaimer This document is an English translation of a document prepared in Japanese. Statements in this document that are not historical facts; statements concerning current plans, forecasts, strategies, and opinions of KOMEHYO Co., Ltd. are forward-looking statements subject