Geo Holdings Corporation · TSE:2681
Geo — Q3 FY2026 Earnings Presentation
56 slides from Geo's earnings presentation, Feb 25, 2026
Slide 1: Supplementary Materials on the Financial Results
Supplementary Materials on the Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2026 GEO HOLDINGS CORPORATION Prime Market of the Tokyo Stock Exchange (2681)
Slide 2: Contents
Contents 1. Group Profile 2. Consolidated Results for Nine Months Ended December 31, 2025 3. Full-year Forecast for Fiscal Year Ending March 31, 2026 4. Growth-oriented Initiatives 5. New Efforts 6. Appendix © GEO HOLDINGS CORPORATION 2
Slide 3: 1. Group Profile
1. Group Profile © GEO HOLDINGS CORPORATION 3
Slide 4: Corporate Profile
Corporate Profile Corporate Philosophy To offer joy to your everyday life Company name GEO HOLDINGS CORPORATION Date of January 1989 incorporation Head Office 8-8 Fujimi-cho, Naka-ku, Nagoya-shi, Aichi Prefecture 460-0014 Tokyo Office Imai Mitsubishi Building 3-53-11 Minamiotsuka, Toshima-ku, Tokyo
Slide 5: GEO Group's major shops and their major merchandise
GEO Group’s major shops and their major merchandise 1,044 stores Number of stores 927 stores in Japan (as of December 31, 2025) (including 138 GEO mobile standalone stores and 698 22 stores 44 stores 144 stores overseas co-located stores） Clothing and accessories Reuse Brand-new Brand-new Furniture
Slide 6: 2. Consolidated Results for Nine Months Ended December 31, 2025
2. Consolidated Results for Nine Months Ended December 31, 2025 © GEO HOLDINGS CORPORATION 6
Slide 7: FY2026 Q3 summary
FY2026 Q3 summary Earnings highlights Consolidated net sales reached 355.6 billion yen（up 12.5% YoY） Reuse clothing and accessories: 89.4billion yen (up 18.0% YoY) Reuse luxury: 40.1 billion yen (down 5.2% YoY) Reuse smartphones and tablets: 36.2 billion yen (up 9.0% YoY) Brand-new: 93.7 billion yen
Slide 8: Consolidated statement of income - FY2026 Q3
Consolidated statement of income - FY2026 Q3 ▎ Overall Performance: Sales and all profit levels exceeded the same period of the previous year, reflecting solid performance. ▎ Reuse: Solid results led by clothing and accessories. Active store expansion in Japan and overseas, along with rising consume
Slide 9: Net sales by product category - FY2026 Q3
Net sales by product category - FY2026 Q3 YoY YoY FY2025 FY2026 Increase Increase Clothing and accessories, the core Q3 Result Q3 Result (Million yen) /Decrease /Decrease (%) merchandise of 2nd STREET in Japan and overseas, continued to Reuse 201,866 219,109 17,243 8.5% show steady growth through th
Slide 10: Gross profit by product category - FY2026 Q3
Gross profit by product category - FY2026 Q3 YoY YoY FY2025 FY2026 Increase Increase Driven by new store openings, Q3 Result Q3 Result (Million yen) /Decrease /Decrease (%) clothing and accessories, 2nd STREET's core product category, Reuse 86,466 96,530 10,064 11.6% continued to grow steadily in li
Slide 11: SG&A expenses - FY2026 Q3
SG&A expenses - FY2026 Q3 ▎Increases in headcount from recruitment, base salary increases, and rising costs from new store openings continued. ▎Total SG&A expenses increased 9.7% year-over-year, which is in line with our expectations. YoY YoY FY2025 FY2026 Ratio to net sales Ratio to net sales Incre
Slide 12: Consolidated balance sheet - FY2026 Q3
Consolidated balance sheet - FY2026 Q3 YoY As of March 31, As of December 31, Composition Composition Increase 2025 2025 (Million yen) /Decrease Increased due to purchasing funds Current assets 165,072 65.3% 201,756 67.2% 36,684 for securing inventory and Cash and deposits 60,090 84,978 24,887 expan
Slide 13: Status of the number of GEO Group stores
Status of the number of GEO Group stores ▎Total number of stores as of December 31, 2025: 2,276 stores Directly (Opened in (Closed in Franchise As of the end As of the As of the managed current current stores & of end of end of stores period) period) distributors FY 2026 Q3 FY 2025 FY 2024 Japan 871
Slide 14: 3. Full-year Forecast for Fiscal Year Ending March 31, 2026
3.Full-year Forecast for Fiscal Year Ending March 31, 2026 © GEO HOLDINGS CORPORATION 14
Slide 15: Full-year forecast for the fiscal year ending March 31, 2026
Full-year forecast for the fiscal year ending March 31, 2026 ▎ No revision to the earnings forecast announced in May 2025. ▎ In FY 2026 Q3, continued reuse demand strong a performance in 2nd STREET merchandise, while new products including Nintendo Switch 2 also performed well, resulting in sales an
Slide 16: New store roll-out plan for the fiscal year ending March 31, 2026
New store roll-out plan for the fiscal year ending March 31, 2026 As of December 31, 2025 Store expansion plan Actual Overview / Initial Plan Japan In addition to general reuse stores, as a milestone toward further expansion, we aim to open urban and 55/60 stores purchasing-only stores, with a goal
Slide 17: Dividends
Dividends ▎ We recognize that return of profits to shareholders is one of our top management priorities. Our fundamental policy is based on providing stable dividends while securing a stable management base and improving profitability. ▎ Regarding FY2026, after comprehensive consideration of profit
Slide 18: 4. Growth-oriented Initiatives
4. Growth-oriented Initiatives © GEO HOLDINGS CORPORATION 18
Slide 19: Management resource investment focus
Matrix of intensively investing our management resources into growth initiatives Management resource investment focus Attracting more foot traffic Opening stores proactively Expansion of business scope through line-up enhancement Growth domain 2nd STREET (Japan) ● Development domain 2nd STREET (Over
Slide 20: Future prospects and growth potential for each business
Future prospects and growth potential for each business ▎ Currently the Group has annual sales of less than 500 billion yen, but we aim to achieve consolidated net sales of 1 trillion yen by FY2035 and expand the Group to 5,000 stores worldwide, including 1,000 stores overseas. Believing that the re
Slide 21: ROE target
ROE target ▎ The target ROE for the time being is 8% or more, since achieving ROE of 10% may require refraining from aggressive investment. 15,000 18.0% Profit attributable to owners of parent Profit attributable to owners of parent margin ROE 17.0% 16.0% 12,500 13.9% 15.0% 14.0% 12.5% 13.0% 10,000
Slide 22: Improving corporate value
Improving corporate value ▎ As we work to become an overwhelming company without peer in the world’s reuse industry, we will continue to improve capital efficiency, to reinforce our financial foundation, to invest in business growth and to place importance on non-financial capital and sustainably to
Slide 23: 2nd STREET Japan store numbers and medium-term target
2nd STREET Japan store numbers and medium-term target ▎To establish dominant market leadership in the reuse market, we will proactively leverage significant store opening potential in Japan. 2nd STREET, acquired through M&A in FY2009, has expanded its store count in Japan approximately four-fold ove
Slide 24: 2nd STREET overseas expansion
2nd STREET overseas expansion ▎ We consider overseas business as one of the pillars of our growth strategy, and we are working to expand our share of the global reuse market, aiming to become the overwhelmingly world No. 1 in the reuse industry. ▎ As new geographic markets, we opened new stores in S
Slide 25: Business strategy for the high-potential global reuse market
Business strategy for the high-potential global reuse market ▎With a background of growing support from various generations, some estimates suggest the global reuse market will expand from $214 billion in 2025 to exceed $1 trillion in market size by 2035. ▎Reuse clothing and accessories, which are t
Slide 26: Store development and strengths in the United States
Store development and strengths in the United States ▎ Our US stores, which were initially opened on the West Coast, have performed well, and training of local employees has progressed smoothly. We will focus on new store openings mainly in areas where we already have a presence, strengthening our d
Slide 27: Store opening in Taiwan, where the reuse market is still developing
Store opening in Taiwan, where the reuse market is still developing ▎ As the reuse market in Taiwan is still in the development stage, we will aggressively open stores in Taiwan in an effort to establish our firm position there. ▎ Our stores in Taiwan have the advantage of continuously offering item
Slide 28: Store opening strategy in Malaysia
Store opening strategy in Malaysia ▎ In Malaysia, we import “Used in Japan” clothing and accessories purchased at 2nd STREET in Japan. The imported items are sent to our warehouse in Kuala Lumpur, where some items are sold wholesale and some are redistributed to our dominant stores in the surroundin
Slide 29: Steady store expansion strategy in Thailand
Steady store expansion strategy in Thailand ▎In Southeast Asia, where the reuse market is in its infancy, we are building a model to complete purchasing and selling merchandise domestically and accelerate overseas expansion. ▎Urbanization is accelerating in Thailand, with more than half of the popul
Slide 30: FY2026: Opening first stores in Singapore and Hong Kong
FY2026: Opening first stores in Singapore and Hong Kong ▎In Hong Kong, the demand for reuse goods is growing as environmental awareness increases. However, the preference for brand-new goods remains strong, leaving room for expansion of the reuse market. Meanwhile, in Singapore, despite the governme
Slide 31: OKURA plays core role in luxury merchandise for reuse
OKURA plays core role in luxury merchandise for reuse ▎ Okura purchases a variety of luxury goods from individuals and through auctions for corporations and sell them through its stores, e-commerce, auctions for corporations, and overseas subsidiaries. OKURA Business Overview Auction business develo
Slide 32: Become the overwhelmingly No. 1 player in the reuse smartphones and tablets market
Become the overwhelmingly No. 1 player in the reuse smartphones and tablets market ▎ By opening standalone stores and co-locating within other GEO Group stores, we will actively expand the GEO mobile network. We are opening stores in electronics retail stores and deepening collaboration with electro
Slide 33: Largest share of the smartphones and tablets for reuse market
Largest share of the smartphones and tablets for reuse market ▎ Achieved our target of 800 stores*. Mainly through GEO and GEO mobile, we are aiming to continue to expanding our store network and further increase our market share in the resale smartphone and tablet device market. ▎ GEO and GEO mobil
Slide 34: Towards the sustainable future through shopping at Luck Rack
Towards the sustainable future through shopping at Luck Rack ▎Off-price stores are a circular system still unfamiliar in Japan, but by expanding nationwide, we will create an unprecedented shopping experience. What is an Off-Price Store? Why significantly lower priced? We sell brand-new merchandise
Slide 35: Luck Rack, a pioneer of off-price stores in Japan
Luck Rack, a pioneer of off-price stores in Japan, actively taking on new challeng es. ▎Luck Rack, as a pioneer of off-price stores in Japan, aims to provide a new retail format that allows customers to make valuable purchases without damaging manufacturers' brand value. Targets Luck Rack regional d
Slide 36: Digital contents business
Digital contents business ▎ viviON operates a digital content platform business and produces and sells content. ▎ "DLsite," a 2-D content website, has one of the largest content portfolios in Japan and services in 14 languages. In addition, "comipo" offers comics with audio tracks enabling users to
Slide 37: 5. Other Initiatives
5. Other Initiatives © GEO HOLDINGS CORPORATION 37
Slide 38: Other initiatives
Other initiatives Second-hand distribution support services Reuse Alliance Business ▎Beyond our primary store operations (reuse and media businesses), we are engaged in various initiatives. Delivery-based storage service 2nd STORAGE Online store viviON BLUE Camera and home appliance rental service G
Slide 39: 6. Appendix
6. Appendix © GEO HOLDINGS CORPORATION 39
Slide 40: Trends in the reuse market in Japan
Trends in the reuse market in Japan ▎ We forecast that by 2040, the reuse market will expand to 5 trillion yen, driven by an increased proportion of consumers purchasing reuse goods, growth in the reuse buyer population, and increased duty-free sales driven by rising numbers of international visitor
Slide 41: Our market share and changes in the size of reuse market in Japan
Our market share and changes in the size of reuse market in Japan Clothing and accessories Luxury brand items Furniture and home appliances No.1 Share* No.5 Share* No.1 Share* GEO HOLDINGS GEO HOLDINGS GEO HOLDINGS Approx. 16% Approx. 14% Approx. 4% Reuse market Reuse market Reuse market - clothing
Slide 42: Our market share and changes in the size of reuse market in Japan
Our market share and changes in the size of reuse market in Japan Game and media Mobile phone and smartphone Reuse sales ranking No.2 Share* No.1 Share* GEO HOLDINGS Other companies GEO HOLDINGS GEO HOLDINGS Approx. 28% Approx. 35% 0 500 1,000 1,500 2,000 2,500 3,000 (100 million yen) Reuse market R
Slide 43: Characteristics of the reuse business
Characteristics of the reuse business ▎Although the reuse business has a low barrier to entry, it requires special operations, such as purchasing from general consumers and handling individual items, unlike other general retail businesses. Multi-store operation of the reuse business requires unique
Slide 44: 2nd STREET store types
2nd STREET store types ▎2nd STREET operates various store formats to accommodate all customer needs. ▎We maintain clean retail environments and high-quality inventory assortments across both Japanese and overseas locations. Japan Store format lineup Full-spec reuse Comprehensive reuse Apparel reuse
Slide 45: Achieved 1,000 '2nd STREET' stores worldwide in April 2025
Achieved 1,000 '2nd STREET' stores worldwide in April 2025 Thanks to your continued patronage, we have reached 1,000 stores worldwide. Going forward, through reuse, we will continue delivering services that are loved by even more people. © GEO HOLDINGS CORPORATION 45
Slide 46: Quarterly consolidated statement of income - FY2026 Q3
Quarterly consolidated statement of income - FY2026 Q3 FY2024 FY2025 FY2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 (Million yen) Net sales 106,725 109,035 111,640 106,446 100,147 99,576 116,432 111,512 104,460 112,482 138,660 (YoY change) 31.1% 19.6% 4.2% 9.1% -6.2% -8.7% 4.3% 4.8% 4.3% 13.0% 19.1% Gro
Slide 47: Quarterly net sales by product category - FY2026 Q3
Quarterly net sales by product category - FY2026 Q3 FY2024 FY2025 FY2026 (Million yen) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Reuse 55,787 57,005 66,599 64,697 65,665 62,274 73,925 72,049 64,421 71,056 83,631 Comprehensive 39,299 39,457 45,945 44,979 46,204 41,119 53,028 49,893 44,510 49,044 60,387 Clo
Slide 48: Quarterly gross profit by merchandise - FY2026 Q3
Quarterly gross profit by merchandise - FY2026 Q3 FY2024 FY2025 FY2026 (Million yen) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Reuse 25,170 23,551 28,751 26,284 28,897 25,878 31,690 28,840 30,826 29,088 36,615 Comprehensive 19,357 17,550 22,367 20,171 22,686 19,101 25,310 22,383 24,698 22,857 29,569 Cloth
Slide 49: Quarterly seasonality trends
Quarterly seasonality trends ▎Net sales and operating profit tend to be weighted to the second half of the year due to the seasonality of demand for the products handled by the GEO Group, such as reuse clothing and accessories, smartphones, and game-related products. Net sales Operating profit （Mill
Slide 50: EC-related sales and ratio - FY2026
EC-related sales and ratio - FY2026 ▎Driven by increased sales of clothing and accessories, EC-related sales grew 6.5% year on year. ▎Our “Backorder service” leverages the advantages of directly managed stores. It enables users to try products at a designated store before purchasing, providing conve
Slide 51: Dialogue with shareholders in FY2026
Dialogue with shareholders in FY2026 ▎ In order to contribute to sustainable growth and medium- to long-term enhancement of corporate value, we strive to engage in constructive dialogue with investors. The executive officer in charge of IR oversees implementation of dialogue in cooperation with rela
Slide 52: Strengthening non-financial capital
Strengthening non-financial capital ▎ Emphasizing non-financial capital which is not written in financial statements, we actively invest in intellectual capital, fixed capital, human capital, social capital and natural capital from medium and long-term perspectives. ● Chain store management in the r
Slide 53: Towards achieving sustainability
Towards achieving sustainability Our top priorities ▎ We have analyzed the sustainability issues from two perspectives, from “importance to stakeholders” and from “importance to the GEO Group.” As a result, we have identified six material issues as our top priorities: Materiality (six top issues) So
Slide 54: Notice Regarding Change of Trade Name
Notice Regarding Change of Trade Name New Trade Name 2nd RETAILING Co., Ltd. Scheduled date of the change October 1, 2026 (Thursday) * The renaming of the company is subject to the approval of partial amendments to the articles of incorporation at the General Meeting of Shareholders scheduled to
Slide 55: Integrated Report 2025
Integrated Report 2025 ▎On October 1, 2025, we issued our first Integrated Report to explain our sustainable value creation to diverse stakeholders and deepen stakeholder engagement. Integrated Report: https://www.geonet.co.jp/english/pdf/2025/GEO-report2025_en_web_all.pdf © GEO HOLDINGS CORPORATION
Slide 56: Notice concerning forward-looking statements
Notice concerning forward-looking statements All indications made in this document concerning forecasts of performance, policies, management strategies, targets, plans, understanding and assessment of facts, as well as outlook on performance and dividends with respect to the Group, excluding histori