Jade Group, Inc. · TSE:3558
Jade — Q2 FY2026 Earnings Presentation
42 slides from Jade's earnings presentation, Oct 15, 2025
Slide 1: JADE GROUP FY2026 2Q IR Presentation
JADE GROUP FY2026 2Q IR PRESENTATION ※ This material is translated by AI technology 2025.10.15
Slide 2: Summary
01 SUMMARY 2
Slide 3: First half results and Royal Corp sponsor agreement
• For the first half of fiscal year 2025, GMV reached JPY22.4 billion, achieving 49.8% of the plan, while operating profit reached JPY1.0 billion, achieving 67.9% of the plan, both landing smoothly. • However, considering our long-term vision of achieving JPY100 bn in GMV and JPY10 bn in operating p
Slide 4: Royal Overview 1: 3C Analysis
Royal Overview ① Analysis of Factors Leading to Civil Rehabilitation, Direction of Reform The result of repeatedly entering new Differentiation through 3C Analysis markets simply because the market was synergy with the Jade growing: accumulated inventory. Group The lack of selection and concentratio
Slide 5: Royal Overview 2: Why we entered the sponsorship agreement
Royal Overview ② Why did we enter into a sponsorship agreement? 1. Solving “Out of Stock!” with a robust overseas procurement network centered on sneakers 2. Peace Park: An Outdoor & Urban Select Shop for “More Brands!” EC 3. Strengthening “Loco Mall Sales Too!” through management of other malls lik
Slide 6: Planned figures scenarios with Royal integration
Regarding the planned figures (revised from April 2025 materials) Based on the PMI effects and synergies from Royal Corp., we will proceed with FYE 26 Plaｎ Scenario 2 for the next fiscal year (to be finalized by April next year). • Regarding the issues that led to the civil GMV Operating Profit reha
Slide 7: Results
02 RESULTS 7
Slide 8: FY2026 2Q Financial Summary
FY 2026 2Q Financial Summary GMV decreased by 7.8% yoy mainly due to the impact of Magaseek ECS contract terminations. Operating Income increased by 96.4% as the Magaseek integration progressed smoothly. Ordinary profit rose by 114.3% due to the inclusion of profits from the affiliated company TCB J
Slide 9: FY2026 2Q GMV of each business area
FY 2026 2Q GMV of each business area Decreased by 7.8% yoy mainly due to the impact of Magaseek ECS contract terminations. Aug 31, 2024 Aug 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 12,861 52.9 4,169 12,345 55.1 3,763 -
Slide 10: GMV (before offset)
GMV（before offset） Decreased by 16.2% yoy mainly due to the impact of Magaseek ECS contract terminations （JPY MM） 12,793 10,714 2022 2022 2022 2022 2023 2023 2023 2023 2024 2024 2024 2024 2025 2025 2025 2025 2026 2025 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Our own EC Other EC BOEM/ECS
Slide 11: Net Sales
Net Sales In addition to the reduction in ECS, we shifted the source of advertising funds from online advertising to coupons and point rebates for customers. Since these are deducted from sales revenue rather than advertising expenses, sales decreased by 9%. （JPY MM） 4,980 4,693 4,819 4,740 4,548 4,
Slide 12: SG&A
SG & A PMI effects led to a 1.8％ improvement in the SG&A ratio to GMV. The primary drivers of this improvement were organizational efficiency gains, logistics efficiency gains, and the reallocation of advertising expenses to points and coupon funding. （JPY MM） FY25 2Q % FY26 2Q %*1 YoY Main factors
Slide 13: Operating Income
Operating Income Realization of integration effects brought operating income to 452 million yen (+390 million yen) and EBITDA to 624 million yen (+421 million yen) in the quarter. （JPY MM） 821 +167% 772 735 707 697 651 624 585 557 538 516 506 482 452 423 393 378 347 350 350 319 309 303 254 260 221 2
Slide 14: Operating Income – YoY analysis
Operating Income – YoY analysis （JPY MM） Operating income was 1,009 million yen (+496 million yen) as a result of steady progress in the integration of the MAGASEEK organization. 20 5 1,009 47 78 141 142 367 513 - 308 2025 2Q GMV Gross Profit ratio Rent Labor Fixed Ads IT cost Depreciation Others 20
Slide 15: BS
BS Cash and cash equivalents are 3.1 billion yen, even after acquisitions and full repayment of external debt of the new subsidiary. Equity ratio was 58.2% (49.6% excluding noncontrolling interests). Continued high level of soundness （JPY MM） Current Assets 8,854 Current Liabilities 4,992 Deposits r
Slide 16: EC mall: number of active users
EC mall : number of active users (unit; K) The number of members has increased significantly through M&A, and d fashion sales have recently been recovering, but the number of active users (users who use the service at least once a year) is still on a downward trend. We will keep reforming d fashion.
Slide 17: EC mall: Average shipping price
EC mall : Average shipping price (Shipping basis) The company's own mall (LOCONDO: Jade's own site from the previous year) increased 2% compared to last year. Continued gradual upward trend. MAGAS continues to be at a higher level than LOCONDO. Other companies' malls remained at about the same level
Slide 18: 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% 14% 14% 13% 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% 6% 5% 5
Slide 19: EC mall: Number of brands
EC mall : Number of brands Tnumber of brands (excluding waja) increased to 5,018. 4,992 4,941 4,946 5,018 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 1Q 1Q 1Q 1Q 1Q 19
Slide 20: 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 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 1Q 1Q 1Q 1Q 1Q ※ NOT i
Slide 21: Company overview
JADE GROUP Company overview a
Slide 22: Company overview
Company overview JADE GROUP, Inc. Address: 30-13, Motoyoyogi, Shibuya, Tokyo Establishment 2010.10.22 CEO: Yusuke Tanaka Number of employees: 126 Listed market: TSE Growth EC Mall Operates EC malls: LOCONDO.jp, FASHION WALKER, BRANDELI, SPORTSWEBSHOPPERS, and waja Platform In addition to inventory c
Slide 23: Group companies (reflecting future plan)
Group companies (reflecting future plan) JADE GROUP ITOCHU （81％） （19％） （66％） （34％） ANBUR LEAGUE ARIGATO MAGASEEK RBKJ Group-in in Jun, 25 Inter-mid holding company EC EC Sankyu! d fashion Shop FASCINATE Magazine and web media EC Solution Wholesales EC ※domestic and offshore Shop Shinsaibashi and Kyo
Slide 24: Group Vision: Happy for All
GROUP VISION HAPPY FOR ALL Business Customer Employee Shareholders Society Partner 24
Slide 25: Group Policy: Fast, Faith, Fair, Fun
Group POLICY Fast Speedy and flexible movement Faith Earn trust internally and externally through results. Fair Fair, transparent and highly ethical Fun！ Enjoy everything in a positive way! 25
Slide 26: History and main events
History and main events Magaseek M&A Reebok 504 M&A Founded IPO 286 212 243 GMV (2010.10) 182 205 140 65 80 94 18 29 50 8 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 14 16 15 YouTuber 8 9 1 3 Hikaru Operating Income FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY2
Slide 27: Seven initiatives for SDGs (1/2)
2. Our Business ②Seven initiatives for SDGs (1/2) ① Think of energy Using LED at warehouse 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 Providing eco-leather (made by scrap l
Slide 28: Seven initiatives for SDGs (2/2)
2. Our Business ② Seven initiatives for SDGs (2/2) ⑤ Gives back Providing open space for Yachiyo citizens Build new bus lane together with Yachiyo city and bus company. Providing a rest area for the drivers ⑥ Equality and diversification Fair evaluation system with 50 competencies Diversific
Slide 29: Platform ecosystem
JADE GROUP has 3 businesses connected complementary and the ecosystem creates our own competitiveness. Sharing inventories: Sell offline Growth driven by the structure inventories at EC • In-house operation enables Sharing infrastructure: Share logistic & us to realize state of art, Contents IT infr
Slide 30: Profit structure – Break-even point model
③ profit structure – Break-even point Model- A business model in which the operating profit on sales improves once sales exceeds the break-even point. (1) GMV, (2) Marginal profit ratio (= gross margin ratio – variable cost ratio) and (3) Fixed costs are Key Performance Indicators for the Profit cos
Slide 31: 1. EC Mall
1. EC MALL In the EC mall business, the company operates its own mall as well as other companies' malls that open stores on Rakuten and Yahoo! Optimize the four areas: products, customer attraction, sales floor, and logistics Own E-malls Other E-malls Shoes and Fashion Docomo users Mrs Apparel トTren
Slide 32: Sales accumulation model
② sales accumulation model A model that builds up sales through the cycle below. New buyers → repeat customers → expansion of active user base → enhancement of product lineup → increase in new visitors More visitors from search engine(SEO) Approx. 27% *1 of new customers re-purchase as item lineup a
Slide 33: 2. Platform
2. PLATFORM In addition to inventory centralization as a hub for logistics warehouses, the company provides a wide range of systems and services to realize data centralization through DX (Digital Transformation). We are also promoting the introduction of the "ALL-IN-ONE Package," which will implemen
Slide 34: 3. Brand
3. BRAND In the brand business, we operate brands and select shops. Except for Reebok and MANGO, all brands belong to the intermediate holding company “ANBUR LEAGUE”. EC Manufacturing Shop Wholesales 34
Slide 35: 4. Others
4. Others Through the newly developed Sankyu! magazine, mooks and web media to consumers, and monetize them through advertising and distribution through the new Sankyu! Magazine Digital Monthly Sales pv To C ９0K copies 56MM Ads Ads ・Ads on the magazine ・Tigh-up ads、NW ads To B Digital distributing ・
Slide 36: Mid-term Plan and Long-term Vision
04 Mid-term Plan and Long-term Vision 36
Slide 37: EC ratio in the fashion market
① EC ratio in the fashion market The current EC ratio in the domestic fashion market is about 22%. It is expected to increase to approx. 35% in 2030, where the EC market size will be approx. 3.5 trillion JPY. Fashion Market Fashion EC Market and EC ratio （100MM） （100MM） 160,000 40,000 40.0% 136,790
Slide 38: MTB and LTV: GMV (before offset)
MTB and LTV ①GMV （before offset） ① Overwhelming 2nd position driven by the acquisition of shares in MAGASEEK ② By the effect of the business alliance with NTT Docomo, Inc. and ITOCHU Corporation, Aiming for GMV of 100 billion yen in FY31. JPY: 100MM CAGR 1000 Approx. + 17% 504 450 243 287 212 2022 2
Slide 39: MTB and LTV: GMV by business
MTB and LTV ①GMV（before offset） Achieve 100 billion yen in transaction volume through a portfolio of three businesses that are complementary to each other and each have competitive advantages: EC mall business, platform (B2B) business, and brand business. FY31 CAGR FY25（actual） FY26(plan） (estimate)
Slide 40: MTB and LTV: Fixed costs
MTB and LTV ②Fixed costs Fixed costs for FY26 are planned to be "5.6 billion yen" due to acquisition of MAGASEEK shares and warehouse expansion. However, 6 billion yen in FY31 will remain unchanged. (JPY 100MM) 61 60 56 21 35 1 30 8 15 60 24 7 2 56 1 7 10 8 1 7 24 14 16 9 2022 2023 2024 2025 2026 20
Slide 41: MTB and LTV: Operating Income
MTB and LTV ③Operating Income ■Operating Income (Plan) (JPY 100MM) FY26 45Bn *15.8% - 5.6Bn = 1.5Bn FY31 100Bn * 16% - 6Bn = 10Bn 100 16.9 15.4 1.5Bn 8 9.9 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 41
Slide 42: 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