United Arrows Ltd. · TSE:7606
United Arrows — 9M FY2026/3 Earnings Presentation
37 slides from United Arrows's earnings presentation, Feb 5, 2026
Slide 1: For the 9month of Fiscal Year Ending March 31, 2026
For the 9month of Fiscal Year Ending March 31, 2026 2026.02.05 UNITED ARROWS LTD.
Slide 2: Overview of FY2026/3 9month Business Results Progress in Sustainability Initiatives Review of FY2026/3 9month
P03– |1 Overview of FY2026/3 9month Business Results P20– | 2 Progress in Sustainability Initiatives P22– | 3 Review of FY2026/3 9month from Matsuzaki, President and CEO P32– | 4 Reference Materials
Slide 3: Cautionary Statement
Cautionary Statement Earnings forecasts and descriptions other than objective facts contained in this document are based on decisions made by UNITED ARROWS LTD. in light of information obtainable as of the date of this report and, therefore, include risks and uncertainties. Actual earnings may diffe
Slide 4: Overview of FY2026/3 9month Business Results
Overview of FY2026/9month Business Results
Slide 5: Financial Highlights
Overview of FY2026/3 9month Business Results Financial Highlights Consolidated Results: Profits Exceeded Plan Net sales were generally in line with the plan, while both gross profit and the gross profit margin exceeded the previous year. Despite higher SG&A expenses, operating income and all profit
Slide 6: Consolidated Sales and Gross Margin
Overview of FY2026/3 9month Business Results Consolidated Sales Consolidated Gross Margin YoY ¥123.6 YoY pt difference billion 109.4% 53.4% 0.4pt (Millions of yen) 123,638 112,988 53.4% 96,093 99,704 86,904 53.0% 52.7% 52.7% 51.1% FY22/3 9M FY23/3 9M FY24/3 9M FY25/3 9M FY26/3 9M FY22/3 9M FY23/3 9M
Slide 7: Consolidated Operating Income and Net Income
Overview of FY2026/3 9month Business Results Consolidated Operating Income Net Income Attributable to Owners of Parent YoY YoY ¥8.7 billion 109.1% ¥6.6 billion 132.2% (Millions of yen) (Millions of yen) 8,764 6,696 8,035 6,387 5,063 5,817 4,340 4,253 1,837 1,296 FY22/3 9M FY23/3 9M FY24/3 9M FY25/3
Slide 8: Consolidated P/L
Overview of FY2026/3 9month Business Results Consolidated P/L Net sales grew year on year, and the gross profit margin exceeded the previous year. Despite higher SG&A expenses, operating income and all profit levels below it surpassed the plan, resulting in higher revenue and profit. (Millions of ye
Slide 9: Consolidated P/L (3Q)
Overview of FY2026/3 9month Business Results Consolidated P/L (3Q) Net sales recorded double-digit year-on-year growth, and the gross profit margin exceeded the previous year due to strong full-price sales of fall/winter items. With the SG&A ratio kept under control, operating income and all profit
Slide 10: Consolidated Gross Margin
Overview of FY2026/3 9month Business Results Consolidated Gross Margin The consolidated gross profit margin increased by 0.4pt year on year. For the non-consolidated results, improvements in the Business Unit offset the decline in outlet operations, resulting in a 0.1pt increase. COEN showed a signi
Slide 11: Consolidated Gross Margin (3Q)
Overview of FY2026/3 9month Business Results Consolidated Gross Margin (3Q) Driven by strong full-price sales of fall/winter items, the non-consolidated Business Unit improved. COEN posted a significant improvement, partly due to the rebound from last year’s inventory valuation losses, and Taiwan al
Slide 12: Consolidated SGA Expenses
Overview of FY2026/3 9month Business Results Consolidated SGA Expenses SG&A expenses and the SG&A ratio exceeded the previous year, driven by higher advertising, increased personnel costs, higher rent from sales growth, and additional depreciation including new stores, HQ relocation, and system amor
Slide 13: Consolidated SGA Expenses (3Q)
Overview of FY2026/3 9month Business Results Consolidated SGA Expenses (3Q) (Millions of yen) FY25/3 FY26/3 Change/pt YoY 3Q 3Q difference Total SGA expenses 18,871 20,863 1,991 110.6% vs. sales 42.2% 41.8% - 0.4pt - Advertising expenses 1,250 1,312 62 105.0% vs. sales 2.8% 2.6% - 0.2pt - Personnel
Slide 14: Consolidated B/S
Overview of FY2026/3 9month Business Results Consolidated B/S Although inventory continued to increase, we aim to accelerate the sell-through of fall/winter items through January–February sale promotions. (Millions of yen) As of Mar. 31, As of Dec. 31, vs. previous term-end 2025 2025 Change Total As
Slide 15: Consolidated C/F
Overview of FY2026/3 9month Business Results Consolidated C/F (Millions of yen) FY25/3 9M FY26/3 9M Major breakdown of the results for the term Cash flows from operating activities 5,147 4,596 (sub-total) Profit before income taxes 8,187 Depreciation 1,327 Cash flows from operating activities 4,351
Slide 16: Non-consolidated Sales and Gross Margin
Overview of FY2026/3 9month Business Results Non-consolidated Sales Non-consolidated Gross Margin Non-consolidated Existing Stores YoY YoY YoY pt difference ¥115.6 billion 110.3% 53.1% 0.1pt Sales 106.5% Number of (Millions of yen) 115,679 53.1% purchasing customers 103.8% 104,837 52.4% 53.0% 102.4%
Slide 17: Non-consolidated Sales by Channel
Overview of FY2026/3 9month Business Results Non-consolidated Sales by Channel (Millions of yen) Existing stores YoY Avg. spend FY25/3 FY26/3 Change/pt Number of YoY Sales per 9M 9M difference customers customer Retail + Online 106.5% 103.8% 102.4% Non-consolidated sales 104,837 115,679 10,841 110.3
Slide 18: Non-consolidated Sales by Business
Overview of FY2026/3 9month Business Results Non-consolidated Sales by Business (Millions of yen) FY25/3 FY26/3 Change YoY 9M 9M Total business unit sales 88,853 97,377 8,523 109.6% Trend-conscious Market 58,690 63,323 4,633 107.9% Basic Trend-conscious Market 30,163 34,053 3,890 112.9% Existing sto
Slide 19: Group Company Results
Overview of FY2026/3 9month Business Results Group Company Results COEN CO., LTD. Feb. – Oct. 7,650 (Millions of yen) 7,487 Revenue decreased, while operating and net profit / loss improved 7,083 7,132 • Sales ¥7,132 million, 95.3% YoY 6,842 • Net sales fell short of the previous year due to the imp
Slide 20: Opening and Closing of Stores
Overview of FY2026/3 9month Business Results Opening and Closing of Stores With 28 store openings and 2 closures, the number of stores at the end of the 9 month period will be 348.The number of stores at fiscal year-end is expected to be 347, an increase of 25 from the previous year-end. 9M results
Slide 21: Progress in Sustainability Initiatives
Progress in Sustainability Initiatives
Slide 22: Progress in Sustainability Initiatives
Progress in Sustainability Initiatives CDP2025 To achieve the target ratio of female managers Both "Climate Change" and "Water Security" • As of April 1, 2026, the ratio of female managers (section chief or above) is expected to be 31.2%. achieved an "A-" status. • The goal set forth in the General
Slide 23: Review of FY2026/3 9month
Review of FY2026/3 9month from Matsuzaki, President and CEO
Slide 24: Factors for Strong Performance in 3Q (Oct. – Dec.)
Review of FY2026/3 9month Factors for Strong Performance in 3Q (Oct. – Dec.) Advancing the Shift to a Temperature-Resilient Assortment to Drive Stable Growth • Expand sales mix of non-cold-weather apparel Shifted from a cold-weather-dependent product mix to a broader fall Change of Business Unit Sal
Slide 25: Factors for Strong Performance in 3Q Period
Review of FY2026/3 9month Factors for Strong Performance in 3Q Period (Oct. – Dec.) Steady Gains in Fall/Winter Apparel and Accessories, with Strong Growth in Cold-Weather Items • Growth of non-cold-weather apparel Factors Contributing to Business Unit Revenue Growth in 3Q Capturing continued demand
Slide 26: Factors for Strong Performance in 3Q: OMO Initiatives
Review of FY2026/3 9month Factors for Strong Performance in 3Q (Oct. – Dec.) “OMO Initiatives Support Steady Revenue Growth” * Results of UA Club 9month (Dec. 2025) The number of active members increased by 126,000 year over year, reaching 1.6 million. Retention rates and the Percentage of F2 or hig
Slide 27: UNITED ARROWS, a Beautiful Company
Review of FY2026/3 9month On Considering a Transition to a Holding Company Structure Long-Term Vision 2032 UNITED ARROWS, We will continue to pursue truth, goodness, and beauty in order to contribute to the realization of a sustainable society and become a high- a Beautiful Company value-added group
Slide 28: Acquisition of a High-End Luxury Brand through M&A
Review of FY2026/3 9month Acquisition of a High-End Luxury Brand through M&A Women’s Apparel Brand TELMA • TELMA LTD. was established on January 7, 2026 • Expanding our brand portfolio in the high-end to luxury segment • Full-Scale overseas expansion of up-and-coming designer brands Website: https:/
Slide 29: Initiatives for New Businesses and New Brands
Review of FY2026/3 9month Initiatives for New Businesses and New Brands New Businesses: Store Openings in Spring 2026 Launch of Exclusive ER Sales CITEN conte • A casual women's brand with the director of model Emma and stylist 2 stores (Hakata, Nagoya Odaka) 1 store (Nagoya) Rino Nakamura. • Since
Slide 30: Expanding Overseas: Opening Stores in Spring 2026
Review of FY2026/3 9month Expanding Overseas: Opening Stores in Spring 2026 UNITED ARROWS SHANGHAI LTD. UNITED ARROWS TAIWAN LTD. Second store in mainland China The 15th store and the 3rd Green Label store in Taiwan UNITED ARROWS SHENZHEN MIC C WORLD (March 2026) UNITED ARROWS GREEN LABEL RELAXING F
Slide 31: Fully Leveraging Our Sales Capabilities
Review of FY2026/3 9month Fully Leveraging Our Sales Capabilities, a Key Element of Our Human Capital Introducing a Personal Styling Service Offered by Our Carefully Selected Sales Professionals • Personal styling service by 21 selected staff nationwide • When making appointments, identify needs in
Slide 32: Three Key Strategies
Review of FY2026/3 9montn Three Key Strategies 31 3131
Slide 33: Reference Materials
Reference Materials
Slide 34: Consolidated Business Plan
Reference Materials Consolidated Business Plan Profit is expected to decrease until 9 months period due to increase in fixed costs such as personnel, advertising, depreciation, etc. Profit is expected to increase in 3Q (3 months) and 4Q (3 months), aiming to increase profit for the full year. (Mi l
Slide 35: Gross Margin Plan
Reference Materials Gross Margin Plan FY26/3 FY26/3 FY26/3 YoY YoY YoY 1H 2H Full year Consolidated 53.0% 0.4pt 52.6% 1.0pt 52.8% 0.7pt UNITED ARROWS LTD. 52.4% 0.0pt 52.4% 0.8pt 52.4% 0.4pt Total business unit - 0.1pt - 0.7pt - 0.5pt Outlet, etc. - - 1.5pt - - 0.7pt - - 1.0pt COEN CO., LTD. - 3.3pt
Slide 36: Non-consolidated Sales Plan
Reference Materials Non-consolidated Sales Plan (Mi l l i ons of yen) FY26/3 FY26/3 FY26/3 1H 2H Full year YoY YoY YoY Non-consolidated sales 68,407 109.1% 84,288 110.0% 152,696 109.6% Retail + Online Existing Stores - 107.7% - 107.9% - 107.8% Retail Existing Stores - 104.5% - 104.7% - 104.6% Online
Slide 37: UNITED ARROWS LTD. FY2026/3 Store Opening and Closing
Reference Materials UNITED ARROWS LTD. FY2026/3 Store Opening and Closing 9M results Full-year forecast No. of stores at No. of stores at No. of stores at the previous Opened Closed Opened Closed the period end 9M-end period end (Forecast) UNITED ARROWS LTD. Total 238 20 1 257 27 7 258 Trend-conscio