Komehyo Holdings Co., Ltd. · TSE:2780
Komehyo — Q1 FY2027 Earnings Presentation
56 slides from Komehyo's earnings presentation, Aug 13, 2026
Slide 1: Earnings Results Briefing for the First Quarter of the Fiscal Year Ending March 31, 2027
Earnings Results Briefing for the First Quarter of the Fiscal Year Ending March 31, 2027 August 13, 2026 Komehyo Holdings Co., Ltd. Securities code: 2780 (Tokyo Stock Exchange Standard and Nagoya Stock Exchange Main Market) ©Komehyo Holdings Co .,Ltd. 1
Slide 2: Vision Mission Value
From reuse to relay use. We will hand on that "value". To realize a circular economy, we will cultivate relay reuse as a social culture and contribute to the development of a sustainable society. Vision Mission Value We respect people for to a "culture." making products, thank We listen and empathiz
Slide 3: Highlights of cumulative financial results for the first quarter
Highlights of cumulative financial results for the first quarter of the fiscal year ending March 31, 2027 Consolidated financial results for the first quarter of the fiscal year ending March 2027 Individual purchase Consolidated operating Consolidated ordinary Q uar ter l y pr ofi t attr i butabl e
Slide 4: Evaluation of the First Quarter of the Fiscal Year Ending March 31, 2027
Evaluation of the First Quarter of the Fiscal Year Ending March 31, 2027 Driven by the promotion of "strengthening individual purchases" and "retail-first" strategies set at the end of the previous fiscal year, we achieved record-high quarterly individual purchases and net sales. The increase in SG&
Slide 5: Brand Fashion Business: Outlook for the second quarter
Brand Fashion Business: Outlook for the second quarter of Fiscal Year Ending March 31, 2027 • Net sales are expected to continue expanding, led by retail, in 2Q, backed by strong purchases from individual customers and high-quality inventory. • While continuing active growth investments, we aim to a
Slide 6: Contents
Contents 1. Consolidated Earnings Results for the First Quarter P.7 of the Fiscal Year Ending March 31, 2027 2. Segment Overview for the First Quarter P.17 of the Fiscal Year Ending March 31, 2027 P.28 3. Future Initiatives 4. Appendix P.32 ©Komehyo Holdings Co .,Ltd. 6
Slide 7: 1. Consolidated Earnings Results for the First Quarter
1. Consolidated Earnings Results for the First Quarter of the Fiscal Year Ending March 31, 2027 7 ©Komehyo Holdings Co .,Ltd. 7
Slide 8: Performance
Performance Net sales increased by 142.7% year -on-year, reaching a record high on a quarterly basis. Significant accumulation of gross profit absorbed the increase in SG&A expenses, and operating profit expanded to approximate ly 4 times the year-on-year level. (unit : millions of yen） 2025.3-1Q 20
Slide 9: Purchase from individual customers (Group total)
Purchase from individual customers (Group total) Secured abundant high-quality inventory through the continuous opening of purchasing centers and steady growth of existing stores Individual purchases recorded 136.5% YoY, reaching a record high (unit : millions of yen） 30,112 30,438 28,986 21,883 22,
Slide 10: Trends in Consolidated Net Sales and Gross Profit Margin
Trends in Consolidated Net Sales and Gross Profit Margin Growth in both retail and corporate sales, driven by the expansion of purchases from individual customers Gross profit margin steadily recovered to 21.9% by prioritizing the supply of high -quality inventory to retail Securing high-quality inv
Slide 11: Breakdown of consolidated Net sales (Retail/Overseas/Domestic tax-free sales)
Breakdown of consolidated Net sales (Retail/Overseas/Domestic tax -free sales) 【Retail】 Retail sales have steadily increased due to the acceleration of store openings both domestically and internationally and the supply of inventory with a retail-first approach. 【Overseas】 Brand awareness has improv
Slide 12: Changes in selling, general and administrative expenses
Changes in selling, general and administrative expenses SG&A expenses increased to 121.1% YoY due to accelerated investment in store openings, customer acquisition, and sales promotion. Although total SG&A expenses increased due to continued growth investments, the SG&A expenses to sales ratio decre
Slide 13: Analysis of consolidated operating income
Analysis of consolidated operating income Gross profit expanded due to the strengthening of individual purchasing and the thorough implementation of a retail -first approach. We absorbed the increase in SG&A expenses with gross profit, resulting in a significant increase in operating profit. Net sal
Slide 14: Non-operating income and expenses/extraordinary income and losses
Non-operating income and expenses/extraordinary income and losses Although non-operating expenses such as interest expenses associated with growth investments were incurred, they were sufficiently absorbed by strong core business profits. Ordinary profit achieved a significant increase of 511.2% YoY
Slide 15: Balance sheet overview
Balance sheet overview Inventories, which will be the source of future sales, are growing steadily due to proactive purchasing. Although interest-bearing liabilities have increased due to borrowings for securing inventory, they are sufficiently covered by cash and deposits and highly liquid inventor
Slide 16: Inventory Turnover
Inventory Turnover While continuing to secure inventory to strengthen retail, inventory turnover improved due to strong sales. We aim to improve the cross ratio by optimizing profit margins and product turnover while proceeding with appropriate invento ry securing. Inventories (Unit: millions of yen
Slide 17: 2. Segment Overview for the First Quarter
2. Segment Overview for the First Quarter of the Fiscal Year Ending March 31, 2027 17 ©Komehyo Holdings Co .,Ltd. 17
Slide 18: Summary by segment for the first quarter
Summary by segment for the first quarter of the fiscal year ending March 31, 2027 Brand Fashion business (BF business)* Tire and wheel business (TW) Individual purchase Net sales Operating profit Net sales Operating profit amount 30,402 million yen 64,269 million yen 3,379 million yen 1,540 million
Slide 19: Segment Overview for the First Quarter
Segment Overview for the First Quarter of the Fiscal Year Ending March 31, 2027 The Brand Fashion business achieved significant increases in both revenue and profit, with net sales up 143.6% YoY and operat ing profit up 433.6% YoY. The Tire and Wheel business secured increased revenue, up 113.4% YoY
Slide 20: BF business | Purchasing and sales status by route
BF business | Purchasing and sales status by route • Prioritizing the supply of strong individual purchases and high-quality inventory carried over from the previous fiscal year to retail. Maximizing LTV through continuous engagement with customers. • Efficiently utilizing corporate sales to respond
Slide 21: BF business | Auction GMV Trends
BF business | Auction GMV (Gross Merchandise Volume) Trends B-to-B auction business, the core of the Group's "business that contributes to distribution" Grew significantly by 128.2% YoY for the four businesses combined due to the expansion of the membership base and an increase in the number of even
Slide 22: BF business | E-commerce sales trends
BF business | E-commerce sales *1 trends • E-commerce sales grew significantly to 190.2% YoY, and the e-commerce participation rate*2 also remained stable. Due to the optimization of sales promotions on major domestic malls and the growth of cross-border malls, E-commerce mall sales expanded signifi
Slide 23: BF business | Monthly Review for the First Quarter
BF business | Monthly Review for the First Quarter of the Fiscal Year Ending March 31, 2027 Focusing on "Individual purchases" and "Retail" from the beginning of the fiscal year to improve profitability ▍First Quarter Monthly Trends* (unit : millions of yen） 151.5% 150.5% 1QTotal individual 1Q Total
Slide 24: BF business | Highlights (1) (Domestic)
BF business | The First Quarter of the Fiscal Year Ending March 31, 2027 Highlights (1) (Domestic) In addition to new store openings, we are expanding our domestic purchasing share by strengthening the purchasing power of existing stores that have a solid customer base. ▍Strengthening purchasing pow
Slide 25: BF business | Highlights (2) (Domestic)
BF business | Fiscal Year Ending March 31, 2027 1Q Highlights (2) (Domestic) Furthermore, we are promoting store creation that captures diversified customer needs through store openings that leverage the strengths of each group company. ❚ Store Openings (1) Joint store opening of "BRAND OFF SHIBUYA"
Slide 26: BF business | Highlights (Overseas)
BF business | The First Quarter of the Fiscal Year Ending March 31, 2027 Highlights (Overseas) Promoting active store openings, primarily in ASEAN and the Greater Bay Area (Guangdong-Hong Kong-Macao Greater Bay Area) In North America, the construction of a business foundation for future growth is st
Slide 27: The Tire and Wheel business | Overview for the First Quarter
The Tire and Wheel business | Overview of the tire and wheel business for the First Quarter of the Fiscal Year Ending March 31, 2027 Achieved increased revenue through a strategic shift to high -margin products and expansion of self-planned wheel sales Operating profit remained above forecast despit
Slide 28: 3. Future Initiatives
3. Future Initiatives 28 ©Komehyo Holdings Co .,Ltd. 28
Slide 29: Initiatives for the Second Quarter of the Fiscal Year Ending March 31, 2027
Initiatives for the Second Quarter of the Fiscal Year Ending March 31, 2027 ・From the 2Q onwards, while continuing "individual purchasing" and "retail first," we will aim to maximize customer attraction and profit opportunities through new store openings and the deepening of existing stores ・Oversea
Slide 30: Regarding the Acquisition of Shares of GarageBank, Inc.
Regarding the Acquisition of Shares of GarageBank, Inc. (Making it a Wholly Owned Subsidiary) 01 / Deal Overview 03 / Performance Trends of GarageBank, Inc. Net sales have rapidly expanded approximately 7.3 times in 2 years (unit : millions of yen） Number of shares acquired: 467,864 shares (Voting r
Slide 31: Overview and Expected Effects of the "cashari" Service
Overview and Expected Effects of the "cashari" Service 04 / About the "cashari" service 05 / Expected effects This project is a strategic investment aimed at achieving the long-term goal of "500 billion yen in net sales" set forth in our Medium-term Management Plan. We aim for non-linear growth in G
Slide 32: 4. Appendix
4. Appendix 32 ©Komehyo Holdings Co .,Ltd. 32
Slide 33: Appendix
Appendix 1. Company Profile P.34 2. Global expansion P.47 3. Medium-term Management Plan and Initiatives for P.49 the Fiscal Year Ending March 31, 2027 ©Komehyo Holdings Co .,Ltd. 33
Slide 34: Company Profile
Company Profile Company name Komehyo Holdings Co., Ltd. Established May 1979 ※Transition to holding company system in October 2020 Head Office 3-25-31 Osu, Naka-ku, Nagoya Representative President, Representative Director: Takuji Ishihara Capital 1,803 million yen Number of consolidated full-time em
Slide 35: Transition of the reuse business and our history
CorporateProfile Transition of the reuse business and our history Since founding in 1947 as Komehyo Shoten, a used kimono store, we have consistently engaged in the reuse business while simultaneously moving forward with alliances and M&A. As a result, we have become a holding company under which 20
Slide 36: Company Highlights (Consolidated)
Company Highlights (Consolidated) (As of March 2026) A leading player in the reuse industry, which operates KOMEHYO, BRAND OFF, Rodeo Drive, and other brands in Japan and other countries Founding Net sales Individual purchase amount 1947 221,707 millions of yen （ Growth achieved in five consecutive
Slide 37: Business list (Consolidated)
Business list (Consolidated) (As of March 2026) We operate three businesses: Brand Fashion, Tire and Wheel, and real estate leasing. We support "Relay Use," the handing down of goods from person to person and their effective utilization, both in Japan and other countries. Consolidated sales for the
Slide 38: Business Domains: Brand Fashion (General)
Business Domains of Komehyo Holdings Group Brand Fashion Business (General): Aim to be No. 1 in sales volume. ©Komehyo Holdings Co .,Ltd. 38
Slide 39: Business Domains: Brand Fashion (Specialized)
Business Domains of Komehyo Holdings Group Brand Fashion Business (Specialized): Aim to be one-of-a-kind with core fans. ©Komehyo Holdings Co .,Ltd. 39
Slide 40: Business Domains: Tire and Wheel Business
Business Domains of Komehyo Holdings Group Tire and Wheel Business ©Komehyo Holdings Co .,Ltd. 40
Slide 41: Business/service introduction ①
CorporateProfile Business/service introduction ①｜ The three brands, which engage in the sale and purchase of mainly second -hand brand name items, excel in the convenience of their stores, the reliability of their appraisal and their name awareness. They seek to achieve sustained growth in the areas
Slide 42: Business/service introduction ②
CorporateProfile Business/service introduction ②｜ We operate a B2B auction for reuse businesses. The inter -corporate transaction market price greatly influences individual purchase prices and retail prices. Auction commissions * on transaction value (GMV) are revenue. In addition, the use of cross
Slide 43: Business/service introduction ③
CorporateProfile Business/service introduction ③｜ Brands specializing in particular products are constantly increasing the number of fans by tapping into core demand. Purchase and sale of premium Consignment and sale of watches Overview Purchase and sale of jewelry sneakers and jewelry Stores in Jap
Slide 44: Business/service introduction (Tire and Wheel)
CorporateProfile Business/service introduction ｜ In the Tire and Wheel business, we engage in the purchase and sale of tires and wheels, as well as the planning and developme nt of wheels. The supply chain is jointly maintained by the three group companies. Planning and development Purchasing and sa
Slide 45: Stores in total for the Group (as of June 2026)
347 stores in total for the Group (as of June 2026) In the first quarter (3 months), we opened 13 new stores in Japan and 4 new stores overseas (Hong Kong, Taiwan, Singapore). We are promoting store expansion to maximize group synergy, including joint store openings by BRAND OFF and Rodeo Drive. Bra
Slide 46: Breakdown of domestic duty-free sales
Breakdown of domestic duty-free sales America's share increased significantly by +6.4pt YoY With the improvement of global brand recognition, purchasing in diverse countries and regions has become established, and the diversification and dispersion of the customer portfolio are progressing. Changes
Slide 47: Global Expansion: Business Phases by Country (Part 1)
Global Expansion: Business Phases by Country (Part 1) Taking the situation into account in each country around the world, we will consider the possibility of deepening businesses to provide further value and that of expanding businesses into a wide range of areas, taking a balanced approach on a cou
Slide 48: Global expansion | Number of stores
CorporateProfile Global expansion| 43 stores in total for the Group (as of June 2026) We have expanded into 7 overseas locations with our three brands: KOMEHYO, BRAND OFF, and Rodeo Drive. Singa Hong Kong Taiwan Shanghai Thailand Malaysia America pore Brands RODEO DRIVE JAPAN KOMEHYO BRAND KOMEHYO B
Slide 49: Outlook for the domestic reuse market
Outlook for the domestic reuse market "Earnings Results Briefing for the Fiscal Year Ended March 31, 2026" (reprinted) The domestic reuse market is expanding steadily and is projected to reach 5 trillion yen by 2040. Going forward, the key to m arket growth will be the expansion of the reuse populat
Slide 50: Concept for business growth (BF business)
Concept for business growth（BF business） "Earnings Results Briefing for the Fiscal Year Ended March 31, 2026" (reprinted) We defined three businesses: (1) trading business, (2) business that contributes to distribution and (3) business that contri butes to market growth. We are expanding each busine
Slide 51: Quantitative targets of the medium-term management plan
Quantitative targets of the medium-term management plan "Earnings Results Briefing for the Fiscal Year Ended March 31, 2026" (reprinted) （FY2025 to FY2029) We will promote business expansion while driving profit growth, aiming for sales of 280 billion yen and operating profit of 1 3 billion yen in t
Slide 52: Management Resource Distribution Policy
Management Resource Distribution Policy "Earnings Results Briefing for the Fiscal Year Ended March 31, 2026" (reprinted) Priority is given to securing inventory and capital investment ahead of time to gain market share in growing markets, particularly branded reuse. Also, while maintaining a certain
Slide 53: Dividend forecast
Dividend forecast "Earnings Results Briefing for the Fiscal Year Ended March 31, 2026" (reprinted) The annual dividend forecast is set to be 108 yen, an increase of 2 yen from the previous fiscal year. We will continue to fo cus on maintaining stable dividends and increasing dividends based on incre
Slide 54: FY2027 Forecast of Consolidated Earnings Results by Quarter
FY2027 Forecast of Consolidated Earnings Results by Quarter Reprinted from the "Earnings Results Briefing for the Fiscal Year Ended March 31, 2026" (partially updated) We will drive sales and profit growth by strengthening individual purchases, enhancing retail sales, and utilizing diverse sa les ch
Slide 55: Key focus points for the fiscal year ending March 2027
Key focus points for the fiscal year ending March 2027 "Earnings Results Briefing for the Fiscal Year Ended March 31, 2026" (reprinted) For our group's sustainable growth, overwhelming market share expansion is essential. While continuing to expand our scale through aggressive investment, we will fo
Slide 56: Disclaimer / IR contact
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 op inions of KOMEHYO Co., Ltd. are forward-looking statements subject to various risks and