Trial Holdings.inc. · TSE:141A
Trial Holdings.inc — FY2025 Earnings Presentation
58 slides from Trial Holdings.inc's earnings presentation, Aug 13, 2025
Slide 1: FY2025 Presentation
Presentation FY2025 (July 1, 2024 - June 30, 2025) Revolutionize "real commerce" around the globe with technology and practical savvy. TRIAL Holdings, Inc. August 13, 2025
Slide 2: Contents
Contents １ FY2025 Financial Results 2 FY2026 Consolidated Forecast 3 Appendix (IR Activities / Capital Policy & Shareholder Returns / Company Overview)
Slide 3: FY2025 Financial Results
TIRIAL HLDGS FY2025 Financial Results
Slide 4: FY2025 Summary
FY2025 Summary FY2025 3 Sales and operating profit hit record, marked 25 consecutive years of growth and double-digit gains. The store count increased FY2025 Financial FY2025 FinancialResults Results by 34 stores YoY. SSS rose 3.6% YoY, drove a 12.0% increase in sales. GP margin improved significant
Slide 5: Strong Track Record of Continuous Sales Growth
Strong Track Record of Continuous Sales Growth FY2025 4 Accomplished sales growth for 25 consecutive fiscal years*1 through flexible strategies adapting to market changes. FY2025 Financial FY2025 FinancialResults Results (JPY Bn) 25 (Stores) Financial Summary Financial Summary 8,000 350 Results by B
Slide 6: Earnings Summary for FY2025
Earnings Summary for FY2025 FY2025 5 FY2025 Financial FY2025 FinancialResults Results Sales and operating profit exceeded the forecast, achieved double-digit growth. Gross profit rose significantly by 15.8% YoY, with the GP margin improved by 0.7pts. As a result, operating profit increased by 10.2%
Slide 7: Earnings Summary for FY2025 (Three Months)
Earnings Summary for FY2025 (Three Months) FY2025 6 From April 1, 2025 FY2025 Financial FY2025 FinancialResults Results to June 30, 2025 (3 months) Q4 FY2024 Q4 FY2025 Financial Summary Financial Summary (Millions of yen) Actual Share Actual Share YoY YoY(%) Results by Business Segment Existing Stor
Slide 8: Earnings Summary for FY2025 (1H / 2H)
Earnings Summary for FY2025 (1H / 2H) FY2025 7 In 1H, despite the unexpected summer heat and high temperatures, sales grew double digits YoY, however operating profit FY2025 FY2025 Financial Results Financial Results declined 16.1% and was 20.9% below the plan. In 2H, in addition to double-digit YoY
Slide 9: FY2025 Results by Business Segment
FY2025 Results by Business Segment FY2025 8 In the Distribution and Retail business, sales rose 11.9% YoY, driven by a increase of 34 stores (35 openings / 1 closure) and a 3.6% FY2025 Financial FY2025 FinancialResults Results rise in SSS. Pricing initiatives expanded from Q4, contributed to higher
Slide 10: Q4 Results by Business Segment (Three Months)
Q4 Results by Business Segment (Three Months) FY2025 9 FY2025 Financial FY2025 FinancialResults Results From April 1, 2025 to June 30, 2025 (3 months) Q4 FY2024 Q4 FY2025 Financial Summary Results by Results by Business Business Segment Segment (Millions of yen) Actual Share Actual Share YoY YoY(%)
Slide 11: Trend in Same Store Sales
Trend in Same Store Sales FY2025 10 Enhancing “food” focusing on fresh products to be the region‘s No.1 daily necessities store. Same Store Sales Growth FY2025 Financial FY2025 FinancialResults Results Starting in April, we started to rollout new pricing strategies, which included adding tax-exclusi
Slide 12: Store Renovation
Store Renovation FY2025 11 In Q4, no store renovations were carried out as planned. In 2H, store renovations were temporarily put on hold to concentrate FY2025 Financial FY2025 FinancialResults Results management resources on new store openings, which increased by 8 compared to the initial plan. Fin
Slide 13: New Store Opening / Closure
New Store Opening / Closure FY2025 12 In Q4, TRIAL actively opened new stores with 5 Super Center, 3 smart and closed 1 Small Format stores. FY2025 Financial FY2025 FinancialResults Results The total store count is 352 as of Q4 FY25. Openings Financial Summary Plan Full Year ：35 stores FY2022 FY2023
Slide 14: Store Opening Strategy by Region
Store Opening Strategy by Region FY2025 13 Total MEGA Super Small Q4 FY2025 Center Center smart Format FY2025 Financial FY2025 FinancialResults Results 352 stores 28 stores 207 stores 70 stores 47 stores Apr Super Center Kano (Miyazaki) Financial Summary 138 smart Ageo Koizumi (Saitama) Results by B
Slide 15: Sales by Product Category
Sales by Product Category FY2025 14 The sales of Fresh, a key traffic driver with high profitability, rose 18.6% YoY, driving revenue and profit growth in the Distribution FY2025 Financial FY2025 FinancialResults Results and Retail business. Ready meals grew the sales by 24.4%, raising their sales c
Slide 16: Sales by Product Category (Three Months)
Sales by Product Category (Three Months) FY2025 15 FY2025 Financial FY2025 FinancialResults Results From April 1, 2025 to June 30, 2025 (3 months) Q4 FY2024 Q4 FY2025 Financial Summary Results by Business Segment (Millions of yen) Actual Share Actual Share YoY YoY(%) Existing Stores / Renovation Sal
Slide 17: Concept of PB Development
Concept of PB Development FY2025 16 Combining IT with chefs’ expertise to deliver value beyond price. Deliver you more than what you want. FY2025 Financial FY2025 FinancialResults Results Value Beyond Price. Financial Summary "Kagaku Honpo," a brand that embodies the desire to deliver the craftsmans
Slide 18: PB Product Development Initiatives
PB Product Development Initiatives FY2025 17 Based on customer understanding through data utilization, we promote the development of valuable PB products. FY2025 Financial FY2025 FinancialResults Results The share of PB steadily grew to 18.4% to the sales. Showing steady progress toward the mid-term
Slide 19: TRIAL PB Catalog
TRIAL PB Catalog FY2025 18 Develop valuable products for our customers as a local daily necessities store. FY2025 Financial FY2025 FinancialResults Results Financial Summary Daily Necessity Grocery Daily Fresh Results by Business Segment Items Existing Stores / Renovation Store Opening / Closure Sal
Slide 20: Execution of Gross Profit Growth Strategy
Execution of Gross Profit Growth Strategy FY2025 19 New measures Ongoing measures FY2025 Financial FY2025 FinancialResults Results １ Update the pricing display ４ Strengthen GP-driving products Financial Summary • From showing tax-inclusive only to tax-exclusive • Expand ready meals developed by chef
Slide 21: Results of Gross Profit Growth Strategy
Results of Gross Profit Growth Strategy FY2025 20 The pricing strategy implemented from delivered a significant GPM growth of 2.0 pts YoY and 0.5 pts vs the plan. We promoted price optimization using customer data, developed valuable products, and created appealing store layouts. While executing mea
Slide 22: Breakdown of SG&A expenses
Breakdown of SG&A expenses FY2025 21 Sales grew by 12.0% YoY, while SG&A expenses rose 16.6%. SG&A-to-sales ratio went up by 0.7pts to meet the plan, mainly due to FY2025 Financial FY2025 FinancialResults Results upfront store opening costs, as well as the rise in wage for part-timers and temporary
Slide 23: Breakdown of SG&A expenses (Three Months)
Breakdown of SG&A expenses (Three Months) FY2025 22 FY2025 Financial FY2025 FinancialResults Results From April 1, 2025 to June 30, 2025 (3 months) Q4 FY2024 Q4 FY2025 Financial Summary Results by Business Segment (Millions of yen) Actual Share Actual Share YoY YoY(%) Existing Stores / Renovation St
Slide 24: Upfront Costs for New Store Openings
Upfront Costs for New Store Openings FY2025 23 Accelerated store openings in Q4 FY25, with a total of 8 new stores : 5 Super Center, 3 smart. Upfront costs for new stores (incl. FY2025 Financial FY2025 FinancialResults Results for 6 openings in July to August) , were incurred. The costs are “Office
Slide 25: Factors in Labor Cost increase (Three Months)
Factors in Labor Cost increase (Three Months) FY2025 24 The rise in labor costs compared to Q4 FY2024 was due to accelerated store openings and the rise in wage for part-timers and FY2025 Financial FY2025 FinancialResults Results temporary staff. Labor hours in Q4 FY2025 were strictly controlled, re
Slide 26: Customer Loyalty Program
Customer Loyalty Program FY2025 25 Since its launch in October 2022, we have been enhancing the functionality of the mobile payment app “SU-PAY” to acquire new FY2024 FY2025 Financial Results Financial Results members and expand loyal customer base. Card and app members were 12.17M combined as of FY
Slide 27: Retail AI Business
Retail AI Business FY2025 26 Retail AI operates the “Smart Store Solution” business, which utilizes IoT technologies such as Skip Cart, and the “Business Data" business, which utilizes data on customers, products, and inventory to optimize store operations and the supply chain. Through these two bus
Slide 28: Skip Cart
Skip Cart FY2025 27 Complete payment through self-scan and payment gate passage. Providing a new shopping experience such as reducing FY2025 Financial FY2025 FinancialResults Results cashier workload and implementing one-to-one marketing in physical stores utilizing coupons and recommendations. Fina
Slide 29: Better Customer Experience by Skip Cart
Better Customer Experience by Skip Cart FY2025 28 We have optimized the number of carts per store. To test Skip Cart impact, other retailers installed the carts to see if it improves FY2025 Financial FY2025 FinancialResults Results the customer experience and reduces labor cost at checkout. Financia
Slide 30: SCM Reform through Partnerships
SCM Reform through Partnerships FY2025 29 Retail AI, Inc. and NTT AI-CIX, Inc. have jointly established a new company, Retail-CIX Inc. FY2025 Financial FY2025 FinancialResults Results Digitally optimized the distribution supply chain to address labor shortages and rising costs in the retail industry
Slide 31: Consolidated Balance Sheet
Consolidated Balance Sheet FY2025 30 “Cash and deposits” were dropped due to the end of Jun. 2024 fell on holidays for financial institutions, settlement of account FY2025 Financial FY2025 FinancialResults Results payable and other accounts was conducted in the following month and PP&E expense for a
Slide 32: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement FY2025 31 The negative operating cash flow was mainly due to the settlement of accounts payable and other payments being FY2025 Financial FY2025 FinancialResults Results carried out at the beginning of the following month, as June 30, 2024, fell on a bank holiday, as
Slide 33: FY2026 Consolidated Forecast
FY2026 Consolidated Forecast
Slide 34: FY2026 Consolidated Forecast
FY2026 Consolidated Forecast FY2025 33 Including Seiyu’s integration into TRIAL’s growth, we plan for sales of 1.3 trillion yen, operating profit of 25.4 billion yen, and EBITDA of 66.3 billion yen. FY2025 Financial Results TRIAL Holdings FY2025 FY2026 FY2025 FY2026 FY2026 (Consolidated) FY2025 1H 1
Slide 35: FY2026 Consolidated Forecast (TRIAL + Seiyu)
FY2026 Consolidated Forecast (TRIAL + Seiyu) FY2025 34 Improve the GPM through refined pricing strategies and the benefits of account integration, in addition to sales growth from aggressive store openings. With a projected 49.2% year-on-year increase in operating profit, TRIAL will drive consolidat
Slide 36: Growth Journey to Achieve Vision
Growth Journey to Achieve Vision FY2025 35 Eliminate inefficiency in the Distribution and Retail industry by “Store Expansion”, “Retail Tech” and “Partnership” aiming for FY2025 Financial Results sustainable development and growth not only for our group but also society as a whole. Financial Summary
Slide 37: Joint Strategic Policy of TRIAL and Seiyu
Joint Strategic Policy of TRIAL and Seiyu FY2025 36 TRIAL and Seiyu will leverage their respective strengths to reinforce their foundation for sustainable growth. Acquisition of Seiyu FY2025 FY2026 ～ Strengthening “food” and continuing store renovations Continue ⚫ Creating attractive stores through
Slide 38: Strategy and Outline of Seiyu Acquisition
Strategy and Outline of Seiyu Acquisition FY2025 37 FY2025 Financial Results Establishing a new foundation to stay close to our customers Making Shopping fun, Enriching Everyday Life as a trusted local essential retailer Financial Summary Dominant position in the Kanto region Results by Business Seg
Slide 39: Group Structure After the Integration
Group Structure After the Integration FY2025 38 The management teams of Seiyu and TRIAL merged, and the management structure has been completely renewed. FY2025 Financial Results The new system started from August 1, 2025. Financial Summary TRIAL Holdings, Inc. Results by Business Segment Existing S
Slide 40: Complementary Store and Logistics Network Expansion (TRIAL + Seiyu)
Complementary Store and Logistics Network Expansion (TRIAL + Seiyu) FY2025 39 TRIAL operates roadside stores primarily in Kyushu and western Japan, while Seiyu runs urban stores mainly in the Kanto area. FY2025 Financial Results Since their locations don't overlap much, they complement each other pe
Slide 41: Overview of TRIAL GO (small format)
Overview of TRIAL GO (small format) FY2025 40 As a satellite store of Super center, realized high quality service at low operation cost by combining our FY2025 Financial Results strength in retail and technology. Financial Summary Results by Business Segment Feature 1 - Satellite Store Feature 2 - A
Slide 42: FY2026 Key Strategies (Retail AI Business)
FY2026 Key Strategies (Retail AI Business) FY2025 41 Support sustainable growth of core business through various measures based on data analysis. FY2025 Financial Results Distribution and Retail Business Financial Summary Results by Business Segment Accumulating customer ID data Data Existing Stores
Slide 43: Enrich every aspect of people's lives through all we do.
Enrich every aspect of people's lives through all we do. FY2025 42 TRIAL Group is committed to two values: FY2025 Financial Results Development and growth of TRIAL Group, and development and growth of society as a whole. Financial Summary The development and growth of the Trial Group The development
Slide 44: Cash Allocation
Cash Allocation FY2025 43 Promote repayment of interest-bearing debt related to M&A and growth investments for medium- to long-term corporate value enhancement. FY2025 Financial Results Continue stable dividend payments. Financial Summary Cash In Cash Out Results by Business Segment Existing Stores
Slide 45: Capital Policy / Shareholder Returns
Capital Policy / Shareholder Returns FY2025 44 FY2025 Financial Results 1 Prioritizing investment in growth while distributing minimum dividends stably and continuously as a growing company. Financial Summary Results by Business Segment FY 2023 FY 2024 FY 2025 FY 2026 Existing Stores / Renovation (A
Slide 46: Appendix
TIRIAL HLDGS Appendix
Slide 47: Disclosure / IR Policy
Disclosure / IR Policy FY2025 46 We aim to do prompt, accurate, and fair disclosure and constructive dialogue with shareholders FY2025 Financial Results and investors. Financial Summary ⚫ IR Calendar Results by Business Segment Existing Stores / Renovation Our fiscal year ends on June 30. We plan to
Slide 48: Investor Relations Website for Shareholders and Investors
Investor Relations Website for Shareholders and Investors FY2025 47 ⚫ Financial Briefing documents FY2025 Financial Results Presentation materials for the financial results briefing for analysts and institutional investors as well as speech scripts Financial Summary and the Q&A summary will be avail
Slide 49: Stock Situation As of June, 2025
Stock Situation As of June, 2025 FY2025 48 Shares / Shareholders Principal Shareholders FY2025 Financial Results Authorized 320,000,000 shares Shareholding Financial Summary No. Name Shares Held ratio*1 Issued 122,373,300 shares Results by Business Segment Treasury Stock 75,169 shares 1 THC Corporat
Slide 50: New Management Structure
New Management Structure FY2025 49 Holding Company TRIAL Holdings, Inc. Established September 2015 Chairman Hisao Nagata Head Office Higashi-ku, Fukuoka Board of Directors Director and Vice Chairman Koichi Kameda Representative Director and President Hiro Nagata Capital 19,812,837,100 JPY Director R
Slide 51: Philosophy
Philosophy FY2025 50 FY2025 Financial FY2025 FinancialResults Results Financial Summary Financial Summary Enrich every aspect of people’s lives Results by Business Segment through all we do. Existing Stores / Renovation Store Opening / Closure Sales by Category / PB Gross Profit Strategy Breakdown S
Slide 52: History
History Started with IT FY2025 51 Retail Evolution of Real Stores and Expansion of Store Networks 1st TRIAL Store 1st Super Center Acceleration of Opening Stores at Nationwide Expansion Acquired CowBoy Co., Ltd., a Food-focused Supermarket Started Collaboration with Supply Chain Players 200 Establis
Slide 53: Integrate real store operations and retail tech R&D
Integrate real store operations and retail tech R&D FY2025 52 FY2025 Financial FY2025 FinancialResults Results Distribution and Retail Business Retail AI Business Financial Summary Financial Summary Results by Business Segment The power to distribute goods with our highly The ability to fully levera
Slide 54: Multi Store Format to Build Nationwide Store Network
Multi Store Format to Build Nationwide Store Network FY2025 53 Mainly open profitable Super centers, leveraging our ability to analyze trade areas through the use of data. FY2025 Financial Results Total Store count : 602 (As of August 13, 2025) Financial Summary Results by Business Segment Super Cen
Slide 55: Store Locations (As of August 13, 2025)
Store Locations (As of August 13, 2025) FY2025 54 Kanto 195 stores FY2025 Financial FY2025 FinancialResults Results 602 ● MEGA 28 ● MEGA 8 ● smart 32 Financial Summary Financial Summary stores ● SuC 212 ● SuC 17 ● Small 3 Nationwide Results by Business Segment ● smart 70 ● SuC 131 ● LIVIN 4 Sapporo
Slide 56: EDLP Business Model
EDLP Business Model FY2025 55 TRIAL offers variety of assortment at competitive price. FY2025 Financial FY2025 FinancialResults Results Food including just-made ready meals are key items as localized daily necessities stores. Financial Summary Financial Summary Every Day Low Price for customers to l
Slide 57: Sales Ranking in the Retail Industry
Sales Ranking in the Retail Industry FY2025 56 Sales has been growing for 25 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.” FY2025 Financial FY2025 FinancialResults
Slide 58: Contact
⚫ Contact TRIAL Holdings, Inc. IR Department TEL：+81-3-6435-6308 / e-mail：ir@trial-holdings.inc ⚫ Next Financial Results (Scheduled)：Q1 for FY2026 ・November 13, 2025 - Financial Results Announcement (Results Summary Disclosure) ・November 14, 2025 - Financial Results Briefing (For Analysts and Instit