Slide 1: FY2026 Q2 Financial Results Briefing Materials
(7564) WORKMAN FY2026 Q2 Financial Results Briefing Materials November 10, 2025
Slide 2: Briefing Contents
Briefing Contents ●FY2026 Q2 Financial Results 3 ●FY2026 Q2 Financial Results Overview 7 ●FY2026 Plans 16 ©2025 WORKMAN CO., LTD. All Rights Reserved 2
Slide 3: FY2026 Q2 Financial Results
Briefing Contents ●FY2026 Q2 Financial Results ©2025 WORKMAN CO., LTD. All Rights Reserved 3
Slide 4: Cumulative Income Statement
Cumulative Income Statement Financial Results Highlights （Millions of yen） FY 3/2025 FY 3/2026 YoY FY 3/2026 Vs. Q2 Ｑ2 （％） Q2 Plans Plans ●Sales at all chain stores ・Sales of summer apparel remained robust thanks to hot weather Sales at all chain stores 91,209 101,574 +11.4 96,385 +5.4 lingering int
Slide 5: Cumulative Selling, General and Administrative Expenses (SG&A)
Cumulative Selling, General and Administrative Expenses (SG&A) SG&A SG&A Factors of increase/decrease FY 3/2025 FY 3/2026 (Millions of yen) ratio ratio Change YoY (％) Q2 Q2 (％) (％) ●Labor cost Sales at all ・Regular salary increase: +3.6％. Average number of employees chain stores 91,209 － 101,574 － －
Slide 6: Balance Sheet
Balance Sheet FY 3/2025 End of FY 3/2026 Change (Millions of yen) Q2 FY 3/2025 Q2 Factors of increase/decrease Current assets 114,690 121,066 126,517 +5,451 ●Cash and deposits Cash and deposits 76,698 80,381 77,816 △2,565 ・Operating CF : +9,824 million yen ・Investing CF : △6,377 million yen Accounts
Slide 7: FY2026 Q2 Financial Results Overview
Briefing Contents ●FY2026 Q2 Financial Results Overview ©2025 WORKMAN CO., LTD. All Rights Reserved 7
Slide 8: Store Openings: 1,071 stores at the end of September 2025
Store Openings Store openings and renovation in 1H are proceeding according to plan. 1,071 stores at the end of September 2025 (up 20 stores over end-March 2025) New store openings Excluding End of End of increase (Number of stores) S＆B※2 Renovation Closures FY 3/2026 FY 3/2025 Roadside SC※2 /decrea
Slide 9: Monthly Trends and Factors
Monthly Trends and Factors Rise/Fall in Same-Store Sales, Number of Customers and Average Customer Spending (％) Rise/fall in sales Rise/fall in number of customers Average customer spending Q1 overview Q2 overview Significant growth driven by ・Summer merchandise sold well amid 22 mandatory heat stro
Slide 10: Status of Sales: Sales at All Chain Stores
Status of Sales Sales at All Chain Stores 101,574 Million Yen ●Sales at existing stores by prefecture All chain stores Existing stores ・ Sales increased throughout Japan due to mandatory legal Net sales +11.3％ +6.8％ measures for heat stroke prevention and record- breaking extreme heat. Number of cus
Slide 11: Sales by Business Category
Sales by Business Category YoY sales numbers are up for all business categories. ●Contribution to sales at all chain stores (Monthly cumulative period) (％) 114.0 112.0 3.8 0.1 111.3 1.1% 110.0 10.4% 108.0 1.9 106.0 0.9 26.8% 0.5 0.2 1.1 104.0 Sales Composition 1.4 Ratio 102.0 1.3 0.1 (based on all c
Slide 12: Status of Sales (Results by Product)
Status of Sales (Results by Product) Casual products are demonstrating high growth in association with the accelerated expansion of WORKMAN Colors. ●Trends in the sales ●Sales by category (sales at all chain stores) composition ratio by product FY 3/25 Q2 FY 3/26 Q2 ※1.Sales are calculated by produc
Slide 13: Status of Sales (Sales by Product and Factors)
Status of Sales (Sales by Product and Factors) Sales of PB Products 66,476 Million Yen ・PB ratio 65.4% (YoY +1.3pt) ●Sales results by brand ●New Brand Number of Sales value Share Unisex (Millions of yen) items (YoY) (％) (YoY) 534 29,783 44.8 （△2.7%） （+5.8%） 164 8,267 12.4 （△24.4%） （+11.1%） 309 10,33
Slide 14: Format of Store Operations
Format of Store Operations Corporate franchise stores began operations in October. Ratio of franchise stores: 91.6％ (down 1.1 points YoY) ●Format of Store Operations for FY 3/26 Q2 ●Number of Stores by Format of Operations SC Training stores End- End- Outsourcing stores (Contract B) Franchise stores
Slide 15: Inventories (Logistics Cost)
Inventories (Logistics Cost) Inventory is being increased company-wide as a measure for off-peak times of year, while inventory efficiency remains sound. ●Selling price inventories per store ●DC inventories / delivery cost ratio ・Inventories of late summer items and year-round products have ・ Invent
Slide 16: FY2026 Plans
Briefing Contents ●FY2026 Plans ©2025 WORKMAN CO., LTD. All Rights Reserved 16
Slide 17: Plans for FY Ending March 31, 2026
Plans for FY Ending March 31, 2026 ●Management Policy We will rebuild our management foundations towards sustainable growth by reinforcing workwear and evolving Colors stores. Store Opening Products Sales Increase store openings, aiming for a Develop competitive exclusive products. Improve existing
Slide 18: Store Opening Plans
Store Opening Plans The initial plan has been partly revised, and roadside #WORKMAN GIRL stores are being renovated as Colors. Openings set for FY 3/26 Excluding Medium/ End of increase/ End of (Number of stores) S＆B※2 Renovation Closures longer-term FY 3/2025 decrease FY 3/26 Roadside SC※2 ※3 goals
Slide 19: Product Development
Product Development Steady progress in implementing measures to tackle internal and external challenges. ●Develop core products unaffected by ●Transform merchandising seasonality Cumulative series sales results as of the end of October 2025: About 1.6 million items 28 million yen *Temporarily out of
Slide 20: Product Development
Product Development Forward exchange contracts and a flexible pricing policy are creating a positive cycle. ●Forward exchange contracts ●Progress in profit related to ●Workman Colors exclusive product ratio overseas purchases Forward exchange contracts SPOT As of the end of Sep. 2025 FYE March 31, 2
Slide 21: Sales Strategy
Sales Strategy Maximize sales through a three-pronged sales strategy (manufacturing, promotion, and sales). ●Integration of sales floors and promotions ●WORKMAN app Registered app users ・For key products, highlight unique advantages by coordinating with sales One month after release: promotions and
Slide 22: Plans for the Fiscal Year Ending March 2026
Plans for the Fiscal Year Ending March 2026 The full-year forecast was revised upwards in view of strong first-half performance. ・SG&A: Reflected additional costs for WORKMAN Colors renovations and external warehouses, etc. ・Due to rising labor costs and inflation, allocated part of headquarters pro
Slide 23: ■We have prepared this document solely for the purpose of facilitating understanding of WORKMAN,
■We have prepared this document solely for the purpose of facilitating understanding of WORKMAN, and not for the purpose of soliciting investment in the Company. As such, investors are advised to make investment decisions at their own discretion. ■ Whereas every effort has been made to ensure the ac