Jade Group, Inc. · TSE:3558
Jade — Q1 FY2026 Earnings Presentation
46 slides from Jade's earnings presentation, Jul 15, 2025
Slide 1: JADE GROUP FY2026 1Q IR Presentation
JADE GROUP FY2026 1Q IR PRESENTATION ※ This material is translated by AI technology 2025.7.15
Slide 2: Summary
01 SUMMARY 2
Slide 3: First quarter FY2026 summary
• In the first quarter of FY2026, GMV was 11.7 billion yen (progress rate: 26.0%), compared to the annual plan of 45.0 billion yen. Although the impact of the cancellation of the official EC business (ECS) of MAGASEEK as expected, we were able to record a 1.7% YoY increase in GMV. • Operating profit
Slide 4: Jade Group's Five Management Themes for FY2026
Jade Group's Five Management Themes for FY2026 Detail followed ① d fashion IT ⑤ New Business establishment ② Increase ④ Additional cost acknowledgement reduction of LOCONDO ③ Brand M&A 4
Slide 5: ① d fashion IT establishment and up GMV
① d fashion IT establishment and up GMV Currently recovering from product reforms through integration of logistics warehouses (so that locondo products can be purchased on d fashion) and marketing reforms such as enhancement of d fashion day, etc. Plans to further improve UI/UX through system integr
Slide 6: ② Increase acknowledgement of LOCONDO
② Increase acknowledgement of LOCONDO Nowadays, mass advertising (TV commercials, etc.) does not easily lead to visits ... Continue to increase inflows with buzz marketing, which other companies cannot do. Activities 50-50 Number of Visitors to locondo.jp 【〇】 Participated in the auction of Otani‘s 5
Slide 7: ③ Brand M&A
③ Brand M&A With the newly established “ANBUR LEAGUE” as its axis, the company will leverage the Jade Group's logistics and IT infrastructure and proceed with mergers and acquisitions based on the premise of a return on investment within five years (goodwill < accumulated operating income; amortizat
Slide 8: ③ Brand M&A
③ Brand M&A The combined net income of the three companies (expected for the current fiscal year) is 250 million yen. Although the shareholding ratios of each company are different, and therefore the consolidated figures of the Jade Group do not directly reflect this figure, we are aiming for “net i
Slide 9: EBITDA as a KPI
Dividends ① Since the number of cases in which non-payment expenses are incurred, such as amortization of assets of a company from which shares are acquired in PMI, “EBITDA,” which is important from the viewpoint of CF management, is now managed as a KPI in addition to GMV and operating income. EBIT
Slide 10: Dividends ②
Dividends ② Over the past four years, the company has used 70% of net income (2.39 billion yen) to share buy back, while aggressively pursuing mergers and acquisitions totaling 4.35 billion yen. • Total net income for FY21-FY24 (4 years) was approximately 3.4 Image of distribution of net income bill
Slide 11: Results
02 RESULTS 11
Slide 12: FY 2026 1Q Financial Summary
FY 2026 1Q Financial Summary GMV was up 1.7% YoY. Operating income was up 15.4% due to the steady progress of the integration of MAGASEEK. Ordinary income was +18.2% due to the impact of profit inclusion of TCB Jeans, an affiliate company, and net income was +41.4% due in part to the recording of a
Slide 13: FY 2026 1Q GMV of each business area
FY 2026 1Q GMV of each business area The growth of our own e-commerce mall and ANBUR LEAGUE, a brand business, covering the impact of cancellation of the platform business. GMV was up +1.7%. May 31, 2024 May 31, 2025 GMV Net Sales YoY YoY GMV ratio (％) (％) GMV ratio Net Sales Net Sales JPY MM (％) JP
Slide 14: GMV (before offset)
GMV（before offset） The growth of our own e-commerce mall and ANBUR LEAGUE, a brand business, covering the impact of cancellation of the platform business. GMV was up +1.7%. （JPY MM） TTL + 1% Our own EC + 7% BOEM/ECS 0% Brand - 5% +1.7% 11,713 Other EC - 4% LOCOCHOC etc - 26% 11,517 2022 2022 2022 20
Slide 15: Net Sales
Net Sales Shifted the source of advertising from online advertising to coupons and point rewards for customers. Since these are deducted from sales, not from advertising expenses, -3% as sales （JPY MM） 4,980 4,693 4,819 4,740 4,548 3,650 3,424 3,202 3,160 3,122 2,813 2,589 2,598 2,376 2,300 2,150 20
Slide 16: SG & A
SG & A The SG&A to GMV ratio improved by 2.2 points due to PMI. The main drivers of the improvement were organizational efficiency, logistical efficiencies and effective advertising allocation. （JPY MM） FY25 1Q % FY26 1Q %*1 YoY Main factors of variation Labor costs 738 6.7% 619 5.5% - 1.2% Improve
Slide 17: Operating Income
Operating Income Realization of integration effects brought operating income to 557 million yen (+74 million yen) and EBITDA to 735 million yen (+84 million yen) in the first quarter. （JPY MM） 821 +12% 772 735 707 697 651 585 557 538 516 506 482 423 393 378 347 350 350 319 309 303 254 260 221 234 20
Slide 18: Operating Income – YoY analysis
Operating Income – YoY analysis （JPY MM） Operating income was 557 million yen (+74 million yen) as a result of steady progress in the integration of the MAGASEEK organization. 4,518 63 557 59 1 482 36 - 13 -9 -6 - 69 2025 1Q GMV Gross Profit ratio Rent Labor Fixed Ads IT cost Depreciation Others 202
Slide 19: BS
BS Cash and cash equivalents are 2.4 billion yen, even after acquisitions and full repayment of external debt of the new subsidiary. Equity ratio was 54.1% (45.6% excluding noncontrolling interests). Continued high level of soundness （JPY MM） Current Assets 8,568 Current Liabilities 5,310 Deposits r
Slide 20: EC mall: number of active users
EC mall : number of active users (unit; K) The number of members has increased significantly through M&A, and d fashion sales have recently been recovering, but the number of active users (users who use the service at least once a year) is still on a downward trend. We will keep reforming d fashion.
Slide 21: EC mall: Average shipping price
EC mall : Average shipping price (Shipping basis) The company's own mall (LOCONDO: Jade's own site from the previous year) increased 1% compared to last year. Continued gradual upward trend. MAGAS continues to be at a higher level than LOCONDO. Other companies' malls remained at about the same level
Slide 22: EC mall: Return rate
EC mall : Return rate Return rate of our own E-malls have been steady at around 20%. 27% 27% 26% 26%26% 25%25%25% 21% 23% 22% 22% 22% 22% 22%22% 22% 21% 21% 21% 21% 20% 20%20% 20% 19% 19% 18% 18% 14% 14% 8% 8% 7% 7% 7% 7% 7% 6% 6% 6% 7% 6% 6% 6% 5% 6% 6% 5% 6% 6% 6% 6% 6% 6% 5% 5% 5% 6% 5% 1% 1% Own
Slide 23: EC mall: Number of brands
EC mall : Number of brands Tnumber of brands (excluding waja) increased to 4,946. 4,992 4,941 4,946 4,182 3,969 3,838 3,676 3,632 3,506 3,344 3,361 3,428 3,389 3,264 3,283 3,314 3,196 2022 2Q 3Q 4Q 2023 2Q 3Q 4Q 2024 2Q 3Q 4Q 2025 2Q 3Q 4Q 2026 1Q 1Q 1Q 1Q 1Q 23
Slide 24: Platform: e-3PL shipment quantity
Platform : e-3PL shipment quantity e-3PL shipments remained stable. Continue to aim to become a hub of logistics warehousing in the footwear industry. （10K） 113 106 106 99 91 92 92 91 92 87 88 85 81 81 66 63 63 2022 2Q 3Q 4Q 2023 2Q 3Q 4Q 2024 2Q 3Q 4Q 2025 2Q 3Q 4Q 2026 1Q 1Q 1Q 1Q 1Q ※ NOT includi
Slide 25: Company overview
JADE GROUP Company overview
Slide 26: Company overview
Company overview JADE GROUP, Inc. Address: 30-13, Motoyoyogi, Shibuya, Tokyo Establishment 2010.10.22 CEO: Yusuke Tanaka Number of employees: 126 Listed market: TSE Growth EC Mall Operates EC malls: LOCONDO.jp, FASHION WALKER, BRANDELI, SPORTSWEBSHOPPERS, and waja Platform In addition to inventory c
Slide 27: Group companies (reflecting future plan)
Group companies (reflecting future plan) JADE GROUP ITOCHU （81％） （19％） （66％） （34％） ANBUR LEAGUE ARIGATO MAGASEEK RBKJ Group-in in Jun, 25 Inter-mid holding company EC EC Sankyu! d fashion Shop FASCINATE Magazine and web media EC Solution Wholesales EC ※domestic and offshore Shop Shinsaibashi and Kyo
Slide 28: Group Vision: HAPPY FOR ALL
Group VISION HAPPY FOR ALL Make Customers HAPPY Make Employee HAPPY Make Business Partner HAPPY Make Shareholders HAPPY Make Society HAPPY 28
Slide 29: Group Policy
Group POLICY Fast Speedy and flexible movement Faith Earn trust internally and externally through results. Fair Fair, transparent and highly ethical Fun！ Enjoy everything in a positive way! 29
Slide 30: History
M&A - Magaseek History - BRANDELI GMV - FASCINATE - TCB (JPY MM) Alliance with NTT Docomo and Itochu 60,000 M&A M&A - SWS - Reebok - waja 50,000 D2C M&A - FW M&A New Warehouse 40,000 - Misuzu - Mobacolle Large TVCM 30,000 LOCOCHOC Mothers Listing 50,401 e-3PL LOCOPOS 20,000 28,697 24,398 10,000 20,5
Slide 31: Seven initiatives for SDGs (1/2)
2. Our Business ②Seven initiatives for SDGs (1/2) ① Think of energy ⚫ Using LED at warehouse ⚫ Implemented “BIGASSFANS” at all floors ⚫ Control air conditioner at 28℃, and heater at 20℃ ② Think of recycle ⚫ Using recycled plastics for palette at the warehouse ⚫ Providing eco-leather (made by scrap l
Slide 32: Seven initiatives for SDGs (2/2)
2. Our Business ② Seven initiatives for SDGs (2/2) ⑤ Gives back ⚫ Providing open space for Yachiyo citizens ⚫ Build new bus lane together with Yachiyo city and bus company. Providing a rest area for the drivers ⑥ Equality and diversification ⚫ Fair evaluation system with 50 competencies ⚫ Diversific
Slide 33: Platform ecosystem
JADE GROUP has 3 businesses connected complementary and the ecosystem creates our own competitiveness. Sharing inventories: Sell offline Growth driven by the structure inventories at EC • In-house operation enables Sharing infrastructure: Share logistic & us to realize state of art, Contents IT infr
Slide 34: Profit structure – Break-even point model
③ profit structure – Break-even point Model- A business model in which the operating profit on sales improves once sales exceeds the break-even point. (1) GMV, (2) Marginal profit ratio (= gross margin ratio – variable cost ratio) and (3) Fixed costs are Key Performance Indicators for the Profit cos
Slide 35: 1. EC MALL
1. EC MALL In the EC mall business, the company operates its own mall as well as other companies' malls that open stores on Rakuten and Yahoo! We promote business expansion by maximizing two aspects of our business: "customer attraction" through effective advertising and "product lineup" including c
Slide 36: Sales accumulation model
② sales accumulation model A model that builds up sales through the cycle below. New buyers → repeat customers → expansion of active user base → enhancement of product lineup → increase in new visitors More visitors from search engine(SEO) Approx. 27% *1 of new customers re-purchase as item lineup a
Slide 37: 2. PLATFORM
2. PLATFORM In addition to inventory centralization as a hub for logistics warehouses, the company provides a wide range of systems and services to realize data centralization through DX (Digital Transformation). We are also promoting the introduction of the "ALL-IN-ONE Package," which will implemen
Slide 38: 3. BRAND
3. BRAND In the brand business, in addition to the agency business, the Spanish fast fashion “MANGO”, we are engaged in the brand operation business (EC, stores, wholesale) of Reebok Japan, which we took over in October 2022, the manufacturing and brand operation business of “TCB jeans”, and the rea
Slide 39: 4. Others
4. Others Through the newly developed Sankyu! magazine, mooks and web media to consumers, and monetize them through advertising and distribution through the new Sankyu! Magazine Digital Monthly Sales pv To C ９0K copies 56MM Ads Ads ・Ads on the magazine ・Tigh-up ads、NW ads To B Digital distributing ・
Slide 40: Mid-term Plan and Long-term Vision
04 Mid-term Plan and Long-term Vision 40
Slide 41: EC ratio in the fashion market
① EC ratio in the fashion market The current EC ratio in the domestic fashion market is about 22%. It is expected to increase to approx. 35% in 2030, where the EC market size will be approx. 3.5 trillion JPY. Fashion Market Fashion EC Market and EC ratio （100MM） （100MM） 160,000 40,000 40.0% 136,790
Slide 42: MTB and LTV: GMV (before offset)
MTB and LTV ①GMV （before offset） ① Overwhelming 2nd position driven by the acquisition of shares in MAGASEEK ② By the effect of the business alliance with NTT Docomo, Inc. and ITOCHU Corporation, Aiming for GMV of 100 billion yen in FY31. JPY: 100MM CAGR 1000 Approx. + 17% 504 450 243 287 212 2022 2
Slide 43: MTB and LTV: GMV by business
MTB and LTV ①GMV（before offset） Achieve 100 billion yen in transaction volume through a portfolio of three businesses that are complementary to each other and each have competitive advantages: EC mall business, platform (B2B) business, and brand business. FY31 CAGR FY25（actual） FY26(plan） (estimate)
Slide 44: MTB and LTV: Fixed costs
MTB and LTV ②Fixed costs Fixed costs for FY26 are planned to be "5.6 billion yen" due to acquisition of MAGASEEK shares and warehouse expansion. However, 6 billion yen in FY31 will remain unchanged. (JPY 100MM) 61 60 56 21 35 1 30 8 15 60 24 7 2 56 1 7 10 8 1 7 24 14 16 9 2022 2023 2024 2025 2026 20
Slide 45: MTB and LTV: Operating Income
MTB and LTV ③Operating Income ■Operating Income (Plan) (JPY 100MM) FY26 45Bn *15.8% - 5.6Bn = 1.5Bn FY31 100Bn * 16% - 6Bn = 10Bn 100 16.9 15.4 1.5Bn 8 9.9 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 45
Slide 46: Forward-looking statements
• This document contains forward-looking statements that are based on current plans, estimates, forecasts or projections by JADE GROUP Inc. as well as JADE GROUP Inc.’s business and industry trends. • These forward-looking statements are subject to various risks and uncertainties. • Known or unknown