Slide 1: JADE GROUP FY2026 3Q IR Presentation
JADE GROUP FY2026 ３Q IR PRESENTATION ※ This material is translated by AI technology 2026.1.14
Slide 2: Summary
01 SUMMARY 2
Slide 3: Summary of Q3 results, forecast revision and M&A strategy
• In addition to the PMI for MAGASEEK since last year, Sankyu! (ARIGATO Corp.) has already achieved operating profits exceeding the initial investment within just six months of the acquisition. As a result, our group operating profit reached 1.48 bn yen, achieving 98% of our 15 bn yen target by the
Slide 4: M&A and PMI History of JADE Group
M&A and PMI History of JADE Group JADE GROUP adheres to the following two essential criteria when evaluating M&A opportunities: 1. Payback Period within 3 to 5 Years : The investment must be recouped within a three-to-five-year timeframe. Specifically, the cumulative net income (or post-tax contribu
Slide 5: Company Info
02 COMPANY INFO 5
Slide 6: Why are we able to succeed in every M&A?
Why are we able to succeed in every M&A? WE CAN INTEGRATE LOGISTICS & IT Type-A: Know-how Type-B: Market consolidation Type-C: Function Parent company Parent company Parent company Know-how Function Pro-management M&A company M&A M&A M&A M&A company While a professional management Theoretically corr
Slide 7: Vision, Policy and Core Value
Vision Policy Core Value Vision INNOVATE THE INDUCTRY Policy HAPPY FOR ALL customer x employee x business partner x shareholders x society Core Value （4F） Fast Faith Fair Fun ! 7
Slide 8: Seven SDG Initiatives of JADE GROUP
Seven SDG Initiatives of JADE GROUP ① Think of energy • Using LED at warehouse and 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 • Handling multi products made by sustainable materi
Slide 9: Platform ecosystem: EC, Platform, Brand
JADE GROUP has 3 businesses connected complementary and the ecosystem creates our own competitiveness. Sharing inventories: Sell offline inventories at EC Sharing infrastructure: Share logistic & IT infrastructure and realize low-cost & high-quality Strength Strength operation • High recognition as
Slide 10: Group companies ① Jade Group
Group companies ① Jade Group • Listed on the Tokyo Stock Exchange Growth Market (Ticker: 3558). • The group operates various EC malls, including LOCONDO.jp, as well as B2B platforms integrating Logistics and IT (such as BOEM, e-3PL, LOCOPOS, LOCOCHOC, and LoCORE). It also manages the official agency
Slide 11: Group companies ② RBKJ (Reebok Japan)
Group companies ② RBKJ (Reebok Japan) • A joint venture owned 66% by JADE GROUP and 34% by ITOCHU Corporation. • The business was succeeded from adidas Japan following the sale of Reebok from the adidas Group to ABG (Authentic Brands Group) in 2022. • Operating within Japan, its business scope inclu
Slide 12: Group companies ③ MAGASEEK
Group companies ③ MAGASEEK • Acquired from NTT DOCOMO in 2024. JADE GROUP holds an 81% stake, while ITOCHU Corporation holds 19%. • The company operates two major EC malls, "d fashion" and "MAGASEEK." Its platform (PF) business features “ECS (UNSY)," which offers similar functionalities to JADE GROU
Slide 13: Group Companies ④ ROYAL / ROYAL LOGISTICS
Group Companies ④ ROYAL / ROYAL LOGISTICS • Became a wholly-owned subsidiary of JADE GROUP after assuming the role of Civil Rehabilitation Sponsor in 2025. • The company operates an EC Mall business primarily focused on parallel imports (mainly via Rakuten), a Platform (PF) business providing logist
Slide 14: Group companies ⑤ FASCINATE (ANBUR LEAGUE)
Group companies ⑤ FASCINATE (ANBUR LEAGUE) • Operates select shops in Shinsaibashi and Kyoto featuring premium brands such as MIHARA YASUHIRO and YOHJI YAMAMOTO. The official EC site leverages new BOEM functionalities to facilitate cross-border EC. • In 2025, the company merged with Marutami, a Kush
Slide 15: Group companies ⑥ BLUE SINCERE (ANBUR LEAGUE)
Group companies ⑥ BLUE SINCERE (ANBUR LEAGUE) • Acquired a 70% stake in 2025. • The company operates the bag brand "Blue sincere" through a vertically integrated model in partnership with factories in Bangladesh. • Its primary sales channels are EC malls such as Amazon and Rakuten. Having completed
Slide 16: Group companies ⑦ TCB JEANS (ANBUR LEAGUE)
Group companies ⑦ TCB JEANS (ANBUR LEAGUE) • Acquired a 35% stake in 2024, becoming an equity-method affiliate of JADE GROUP. • Produces and sells "TCB jeans," a domestic denim brand based in Kojima, Okayama Prefecture - widely known as the "Holy Land of Jeans.“ • Currently promoting collaborations
Slide 17: Group companies ⑧ ARIGATO
Group companies ⑧ ARIGATO • In 2025, the business was transferred from Benesse, specifically the lifestyle magazine for homemakers “Sankyu!" . A new wholly-owned subsidiary, ARIGATO, was established. Despite the current "magazine recession," it maintains significant media influence with a circulatio
Slide 18: GMV history and Plan
GMV (JPY 100MM) history and Plan • Planned GMV of 100 bn JPY for FY2030. • The primary driver is M&A. Our core strength lies not only in disciplined management and strategic, proactive investment - akin to private equity funds - 1000 but also in our PMI (Post-Merger Integration) capabilities. These
Slide 19: Operating profit history and plan
Operating profit (JPY 100M) history and plan • Targeting 10 bn JPY in consolidated Group Operating Profit for FY2030. • We manage Marginal Profit Margin and Fixed Costs as key KPIs for Operating Profit. Our benchmark formula is: "GMV 100 bn JPY × Marginal Profit Margin 16–17% － Fixed Costs 100 6–7 b
Slide 20: Results
03 RESULTS 20
Slide 21: FY 2026 3Q Financial Summary
FY 2026 3Q Financial Summary While GMV decreased by 10.9% year-on-year, primarily due to the termination of certain B2B (BOEM) contracts at MAGASEEK, profit margins improved significantly as a result of the smooth progress of PMI for both MAGASEEK and Sankyu!. （JPY MM） FY25 3Q FY26 3Q YoY Plan Vs Pl
Slide 22: FY 2026 3Q GMV of each business area
FY 2026 3Q GMV of each business area Nov 31, 2024 Nov 31, 2025 GMV Net Sales YoY YoY GMV ratio (％) (％) GMV ratio Net Sales Net Sales JPY MM (％) JPY MM JPY MM (％) JPY MM EC mall 19,189 51.8 6,258 18,118 54.9 5,742 -5.6 -8.2 Our own E-malls 17,543 47.4 - 16,550 50.2 - -5.7 - Stores in other E-malls 1,
Slide 23: GMV (before offset)
GMV (before offset) （JPY MM） 12,716 10,597 2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2023 2024 2024 2024 2024 2025 2025 2025 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Own EC Other EC BOEM/ECS Locochoc Brand Others (Note) Consolidated base from 2022 3Q 23
Slide 24: Net Sales
Net Sales Beyond the decline in transaction volume from Magaseek and others, we optimized our ad spend by pivoting from web ads to customer rewards (coupons/points). As these are treated as revenue deductions rather than SG&A expenses, revenue ended down 6% for the period." （JPY MM） 4,980 4,693 4,81
Slide 25: SG & A
SG & A While GMV decreased, the SG&A ratio relative to GMV improved by 0.6 percentage points as a result of our PMI strategy. （JPY MM） FY25 ３Q % FY26 3Q %*1 YoY Main factors of variation Labor costs 2,277 6.4% 1,827 5.8% - 0.6% Improve organization efficiency employees 1,179 3.3% 1,052 3.3% - 0.0% p
Slide 26: Operating Income / EBITDA
Operating Income / EBITDA While Operating Profit and EBITDA decreased year-on-year compared to the previous year's boost from the Reebok collaboration, we have successfully maintained high-level profitability. （JPY MM） 821 772 735 707 697 651 624 621 585 557 538 516 506 482 467 452 423 393 378 347 3
Slide 27: Operating Income – YoY analysis
Operating Income – YoY analysis （JPY MM） 3 1,476 59 89 80 127 78 1,029 638 - 630 2025 3Q GMV Gross Profit ratio Rent Labor Fixed Ads IT cost Depreciation Others 2026 3Q Variable cost cost 27
Slide 28: Balance sheet and debt-free management
BS Despite our proactive execution of M&A, our ability to achieve rapid PMI and improved profitability has allowed us to maintain debt-free management (excluding loans from ITOCHU Corporation for the establishment of RBKJ). We continue to ensure high financial stability, with an equity ratio of 57.0
Slide 29: EC mall: number of active users
EC mall : number of active users (unit; K) The decline in MAGASEEK's active user count has nearly bottomed out. We will continue to drive improvements by strengthening our product lineup and enhancing our marketing efforts. 242 248 255 267 264 263 263 322 348 349 356 359 346 339 313 288 261 247 237
Slide 30: EC mall: Average shipping price
EC mall : Average shipping price (Shipping basis) Driven by the effectiveness of our coupon initiatives and other measures, our in-house malls (including LOCONDO.jp) have maintained a steady upward trend, growing at +4%. （JPY） 15,340 14,564 13,341 12,236 12,413 11,87112,128 11,26311,20511,247 11,409
Slide 31: 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% 20% 19% 18% 18% 20% 14% 14% 13% 11% 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%
Slide 32: EC mall: Number of brands
EC mall : Number of brands The number of brands increased to 5,076. 4,992 4,941 4,946 5,018 5,076 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 2Q 3Q 1Q 1Q 1Q 1Q 1Q 32
Slide 33: 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 90 87 88 85 81 81 78 66 63 63 2022 2Q 3Q 4Q 2023 2Q 3Q 4Q 2024 2Q 3Q 4Q 2025 2Q 3Q 4Q 2026 2Q 3Q 1Q 1Q 1Q 1Q 1Q ※
Slide 34: Forward-looking statements disclaimer
• 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