Bellpark Co., Ltd. · TSE:9441
Bellpark — FY2025 Earnings Presentation
25 slides from Bellpark's earnings presentation, Feb 12, 2026
Slide 1: Results of Operations for 2025
Results of Operations for 2025 February 12, 2026 Bell-Park Co., Ltd. Tokyo Stock Exchange Standard Market (Stock code: 9441) © Bell-Park Co.,Ltd. All rights reserved
Slide 2: 1. 2025 Financial Highlights; 2. 2026 Plan and Shareholder Returns
1. 2025 Financial Highlights 2. 2026 Plan and Shareholder Returns © Bell-Park Co.,Ltd. All rights reserved 2
Slide 3: Statement of Income
Statement of Income Record-high sales and earnings Higher sales and earnings mainly due to increases in the number of mobile phones sold and recurring revenue (million yen) 2024 2025 YoY change results results Net sales 116,038 129,301 +13,262 (Comp.) (100.0%) (100.0%) +11.4% Operating income 4,263
Slide 4: 2025 Sales Channel Topics
2025 Sales Channel Topics Impact on Impact on Sales operating Topics net sales channels income (YoY change) (YoY change) Higher sales and earnings due to an increase in the number of mobile phones sold and recurring revenue • Larger number of sales promotion events raised the number of mobile phones
Slide 5: Number of Carrier Shops and Mobile Phones Sold
Number of Carrier Shops and Mobile Phones Sold The number of carrier shops declined but the number of phones sold increased. Number of Carrier Shops Number of Mobile Phones Sold 333 323 -10 shops 1,169,000 1,216,000 +4.1% YoY Newly opened/Acquired +6 Closed/Sold -5 Closure/consolidation of shops -15
Slide 6: Investments in Human Resources Major Activities
Investments in Human Resources Major Activities The growth of the people of Bell-Park is essential for the growth of the company. HR activities include measures to enable people to realize their full potential and accomplish career goals as well as to encourage diversity. Workplaces give people oppo
Slide 7: Investments in Human Resources: More Activities to Improve Retention Rate
Investments in Human Resources More Activities to Improve Retention Rate A sound base for the people of Bell-Park by raising retention by providing workplace environments that are pleasant and enable people to upgrade skills and achieve career goals Target is 12+ days/year per employee (Avg. of 11.5
Slide 8: Activities for the Prevention of Losses Caused by Fraud Using Phone Calls
Activities for the Prevention of Losses Caused by Fraud Using Phone Calls and Other Communication Channels Bell-Park periodically holds smartphone lessons at stores and event sites to raise awareness of the danger of fraud using calls and other phone communication channels. Presentations include exa
Slide 9: 1. 2025 Financial Highlights; 2. 2026 Plan and Shareholder Returns
1. 2025 Financial Highlights 2. 2026 Plan and Shareholder Returns © Bell-Park Co.,Ltd. All rights reserved 9
Slide 10: 2026 Mobile Phone Sales Plan
2026 Mobile Phone Sales Plan About Carriers have shifted their sales policy to Plan for sales in 2026 focusing on adding long-time users. As a 1,113,000 units result, sales are expected to decrease, (-8.4% vs. 2025) mainly SIM sales to new users. Number of mobile phones sold to new subscribers (Quar
Slide 11: 2026 Sales Channel Topics
2026 Sales Channel Topics Impact on Impact on operating Sales net sales Topics (by segment) Topics (all segments) income channels (YoY (YoY change) change) Focus on contracts for long-term users Forecast lower sales and • Forecast declines in new contracts and ads/sales promotion expenses earnings m
Slide 12: Consolidated Forecasts
Consolidated Forecasts Forecast net sales of 120 billion yen and operating income of 5.0 billion yen *Planned number of mobile phones to be sold: approx. 1,113,000 units (-8.4% YoY) (million yen) 2025 2026 YoY change results plan Net sales (Comp.) 129,301 120,000 -9,301 (100.0%) (100.0%) -7.2% Opera
Slide 13: Dividends and Shareholder Returns
Dividends and Shareholder Returns Fundamental policy regarding The 2025 dividend more than doubled from 2024 to 102 yen as distribution of earnings earnings increased and a large volume of stock was repurchased. Consolidated payout ratio of at least % 30 The 2026 dividend forecast is unchanged at 10
Slide 14: Appendix
Appendix © Bell-Park Co.,Ltd. All rights reserved 14
Slide 15: Profile of Bell-Park
Profile of Bell-Park Information and communication Name Bell-Park Co., Ltd. Business device sales and service business Capital 1,148 million yen (as of Dec. 31, 2025) Fiscal year From January 1 to December 31 Hirakawacho Center Bldg., 1-4-12 *Franchised stores in parentheses Headquarters Hirakawa-ch
Slide 16: 5-year Financial Summary
5-year Financial Summary (million yen) 2021 2022 2023 2024 2025 Net sales 107,281 102,778 115,485 116,038 129,301 Gross profit 25,483 23,635 24,876 26,911 31,183 Personnel, etc. 12,234 12,070 12,798 13,461 13,467 Rent 2,915 2,952 2,942 2,904 2,810 Ads/sales promotion 1,807 1,413 1,898 2,429 4,975 Ot
Slide 17: Quarterly Financial Summary
Quarterly Financial Summary (million yen) 2024 2025 1Q 2Q 3Q 4Q Full year 1Q 2Q 3Q 4Q Full year Net sales 30,590 26,536 28,482 30,428 116,038 34,250 29,981 32,036 33,032 129,301 Gross profit 7,208 6,539 6,591 6,570 26,911 8,187 7,607 7,636 7,751 31,183 Personnel, etc. 3,195 3,448 3,300 3,516 13,461
Slide 18: Number of Carrier Shops
Number of Carrier Shops （店舗） SoftBank Shop Y!mobile Shop Docomo Shop au Shop End-Dec. End-Dec. End-Dec. End-Dec. End-Dec. 2021 2022 2023 2024 2025 © Bell-Park Co.,Ltd. All rights reserved 18
Slide 19: Number of Employees
Number of Employees Full-time employees Temporary employees End-Dec. End-Dec. End-Dec. End-Dec. End-Dec. 2021 2022 2023 2024 2025 © Bell-Park Co.,Ltd. All rights reserved 19
Slide 20: Number of Mobile Phones Sold
Number of Mobile Phones Sold Sales of replacement Sales to new Phone-only sales mobile phones subscribers （万件） (10 thousand units) 2021 2022 2023 2024 2025 © Bell-Park Co.,Ltd. All rights reserved 20
Slide 21: Number of Mobile Phones Sold (Quarterly)
Number of Mobile Phones Sold (Quarterly) (10 thousand units) Sales to new Sales of replacement Phone-only subscribers mobile phones sales 2023 2024 2025 © Bell-Park Co.,Ltd. All rights reserved 21
Slide 22: Balance Sheet
Balance Sheet (million yen) End-Dec. End-Dec. Change Breakdown 2024 2025 • Cash and deposits: -6,782 (13,424 as of end-Dec. 2025) Current assets 41,680 34,947 -6,733 • Accounts receivable-trade: -717 • Merchandise: +750 Non-current 8,983 8,650 -332 assets Assets 50,663 43,597 -7,066 Current • Accoun
Slide 23: Cash Flows
Cash Flows (million yen) Cash and cash equivalents at beginning of period Profit before income taxes: +5,911 Depreciation/amortization of goodwill: +262 Decrease in notes and accounts receivable-trade: +717 +4,654 Increase in inventories: -710 Operating CF Increase in notes and accounts payable-trad
Slide 24: Activities for a Sustainable Society
Activities for a Sustainable Society Key Issues (1) Key Issues (2) Environmental Responsibility Customer’s Smile • Efforts to reduce greenhouse gas emissions • Strengthening consulting skills (Installation of internal power generation, use • Customer support of energy from renewable sources, reducti
Slide 25: Forward-looking Statements
Forward-looking Statements All plans, strategies and financial forecasts that are not based on historical facts are forward-looking statements. Such statements are based on the judgment of the Company in accordance with information available when these materials were prepared. Actual results may dif