Okuwa Co., Ltd. · TSE:8217
Okuwa — H1 FY2025 Earnings Presentation
36 slides from Okuwa's earnings presentation, Oct 1, 2025
Slide 1: Financial Results Presentation Material
Financial Results Presentation Material For the First Half of the Fiscal Year Ending February 20, 2026 OKUWA Co., Ltd. (8217) October 1, 2025 Presenter: Hirotsugu Okuwa, President and Representative Director Copyright © OKUWA Co., Ltd. All Rights Reserved. -1-
Slide 2: Consolidated Sales Results
Consolidated Sales Results (Million yen, %) Comparison Six months ended Six months ended Initial Year-on-year against August 20, 2024 August 20, 2025 forecast change forecast Operating income 122,558 124,448 126,500 101.5 98.4 Operating profit 246 579 300 235.2 193.2 Ordinary profit 313 670 350 214.
Slide 3: Consolidated Operating Income by Company
Consolidated Operating Income by Company (Million yen, %) Six months ended Six months ended Year-on-year August 20, 2024 August 20, 2025 change OKUWA 121,803 123,667 101.5 OAK FOODS 688 721 104.8 Retail Backoffice Support 157 158 101.3 SUNRISE 2,452 2,169 88.4 Consolidation adjustment (2,542) (2,268
Slide 4: Consolidated Ordinary Profit by Company
Consolidated Ordinary Profit by Company (Million yen, %) Six months ended Six months ended Year-on-year August 20, 2024 August 20, 2025 change OKUWA 259 525 202.5 OAK FOODS 46 56 121.1 Retail Backoffice Support 24 19 80.8 SUNRISE 11 53 462.9 Consolidation adjustment (32) (32) － Share of profit of en
Slide 5: Consolidated Management Indicators
Consolidated Management Indicators Six months ended Six months ended Six months ended August 20, 2023 August 20, 2024 August 20, 2025 Operating profit/Operating income (%) 0.58 0.20 0.47 Ordinary profit/Operating income (%) 0.67 0.26 0.54 Return on equity (ROE, %) 0.51 0.11 0.34 Return on assets (RO
Slide 6: Consolidated Cash Flows
Consolidated Cash Flows (Million yen) Six months ended Six months ended Year-on-year August 20, 2024 August 20, 2025 change Cash and cash equivalents at beginning of period 16,182 11,152 (5,030) Operating CF 4,372 4,562 189 Investing CF (3,997) (2,667) 1,330 Financing CF (4,396) (3,345) 1,050 Cash a
Slide 7: Non-consolidated Sales Results
Non-consolidated Sales Results (Million yen, %) Comparison Six months ended Six months ended Initial Year-on-year against August 20, 2024 August 20, 2025 forecast change forecast Operating income 121,803 123,667 126,000 101.5 98.1 Net sales from direct operation 118,452 120,087 － 101.4 － Gross profi
Slide 8: Non-consolidated Net Sales by Region
Non-consolidated Net Sales by Region (Million yen, %) Year-on-year Six months ended Six months ended Year-on-year change for August 20, 2024 August 20, 2025 change existing stores Wakayama 37,815 37,845 100.1 100.1 Nara 23,060 23,827 103.3 100.4 Osaka 17,307 17,449 100.8 99.1 Hyogo 308 257 83.7 83.7
Slide 9: Non-consolidated Net Sales by Business Type
Non-consolidated Net Sales by Business Type (Million yen, %) Year-on-year Six months ended Six months ended Year-on-year change for August 20, 2024 August 20, 2025 change existing stores SC 4,810 4,685 97.4 97.4 SSM 56,068 57,541 102.6 100.0 SM 4,390 4,540 103.4 103.4 Regular 65,269 66,767 102.3 100
Slide 10: Non-consolidated Net Sales by Department
Non-consolidated Net Sales by Department (Million yen, %) Year-on-year Six months ended Six months ended Year-on-year change for August 20, 2024 August 20, 2025 change existing stores Fresh foods 49,694 50,302 101.2 99.8 Processed foods 51,933 53,295 102.6 101.3 Foods 101,627 103,597 101.9 100.6 Hou
Slide 11: Non-consolidated Gross Profit Margin by Department
Non-consolidated Gross Profit Margin by Department (Million yen, %) Six months ended Six months ended Year-on-year August 20, 2024 August 20, 2025 change Fresh foods 31.6 31.7 +0.1 Processed foods 22.7 23.2 +0.6 Foods 27.0 27.3 +0.3 Household supplies 28.0 28.2 +0.3 Clothing 35.6 35.9 +0.3 Total 27.
Slide 12: Non-consolidated SG&A Expenses
Non-consolidated SG&A Expenses (Million yen, %) Six months Ratio to net sales Six months ended Year-on-year Ratio to net ended August 20, （Six months ended August 20,2025 change sales 2024 August 20,2024) Net sales 115,566 117,224 +1,657 100.0 100.0 Selling expenses 991 931 (60) 0.8 0.9 Personnel ex
Slide 13: Non-consolidated Capital Expenditures
Non-consolidated Capital Expenditures (Million yen, %) (Plan) Six months ended Six months ended Year-on-year Fiscal year ending August 20, 2024 August 20, 2025 change February 20, 2026 New stores 3,265 2,373 72.7 2,620 Existing stores, etc. 2,034 1,173 57.7 2,520 Systems 768 510 66.3 1,080 Construct
Slide 14: New Store Openings and Closures
New Store Openings and Closures New Store Opening: 1 June 20 Okuwa Toyoake Store (Aichi) ➢ Opening of the 13th Store in Aichi ➢ Projected annual sales: 2.1 billion yen Store closure: 1 May 20 Okuwa Tadaoka Store (Osaka) Copyright © OKUWA Co., Ltd. All Rights Reserved. -14-
Slide 15: Non-consolidated Store Distribution
Non-consolidated Store Distribution (As of August 20, 2025) Total by region Wakayama 31 7 8 3 49 Nara 22 5 5 1 33 Osaka 17 2 1 － 20 Hyogo － － 1 － 1 (Kinki area) 70 14 15 4 103 Mie 14 3 5 － 22 Gifu 4 (PM:1) 10 － － 14 Aichi 9 (PM:3) 2 － 2 (PM:2) 13 Shizuoka 1 (PM:1) 1 － － 2 (Tokai area) 28 16 5 2 51 T
Slide 16: Private Brand Results
Private Brand Results Okuwa Brand Entered the sixth year since the brand launch. Composition ratio in foods: 14.1% (+1.1%) 1H FY2025 Sales results: 14.5 billion yen Kurashi More The brand concept is 1H FY2025 “Be next to customers all the time and in the future.” Sales results: 8.6 billion yen Compo
Slide 17: Non-consolidated Net Sales from Existing Stores
Non-consolidated Net Sales from Existing Stores Year-on-year change for Number of Average sales Net sales Number of existing stores (%) customers per customer Unit price products per product purchased 1Q 100.6 98.0 102.7 97.9 104.9 2Q 99.7 96.9 102.9 97.7 105.3 2Q cumulative 100.1 97.4 102.8 97.8 10
Slide 18: Non-consolidated Net Sales from Existing Stores
Non-consolidated Net Sales from Existing Stores Sales indicators for existing stores -2.6% +2.3% (Results) (2) Number of customers Net sales from (1) Unit price 97.4% per product existing stores 100.1% Average sales per 105.1% customer Number of products Compared with 102.8% purchased the initial pl
Slide 19: Weekly Trends (Unit Price per Product & Number of Customers)
Weekly Trends (Unit Price per Product & Number of Customers) Food department Number of customers, YoY Unit price per product, YoY ％ 108 103 98 93 88 May 26- Jun. 2- Jun. 9- Jun. 16- Jun. 23- Jun. 30- Jun. 7- Jun. 14- Jun. 21- Jun. 28- Aug. 4- Aug. 11- Copyright © OKUWA Co., Ltd. All Rights Reserved.
Slide 20: 1H Summary
1H Summary (1) Decline in the number of customers due to higher unit price per product In the highly price-sensitive food department, an inadequate balance between passing on higher costs and maintaining customer appeal is considered to have contributed to the decline in the number of customers. (2)
Slide 21: 1H Summary
1H Summary (4) Insufficient differentiation by business type (homogenization) （Existing store results） Number of customers 97.2% 97.5% 97.6% 98.5% Average sales per 102.9% 102.6% 102.8% 102.2% customer Unit price per product 105.2% 105.1% 104.8% 104.2% Number of products 97.8% 97.6% 98.1% 98.0% purc
Slide 22: Management Policy for the 2H of the Fiscal Year ending February 20, 2026
Management Policy for the 2H of the Fiscal Year ending February 20, 2026 Copyright © OKUWA Co., Ltd. All Rights Reserved. -22-
Slide 23: Product Strategy (1)
Product Strategy (1) Strengthened category x Development category For each department, we establish a strengthened category (enhanced promotion category) and a development category (differentiation category) to fully leverage the strengths of each business type. Development category Strengthened cat
Slide 24: Product Strategy (2)
Product Strategy (2) Strengthened category x Development category Strengthened category Development category Copyright © OKUWA Co., Ltd. All Rights Reserved. -24-
Slide 25: Store Strategy (1)
Store Strategy (1) New store opening Okuwa Sakai-Shi Ekimae Store (Sakai City, Osaka) opened on August 30, establishing a new format as a model store for urban small-sized stores. Processed meat Marine products Livestock products Salted ＆ dried Frozen- food Daily & General Drinks Daily food Ice- foo
Slide 26: Store Strategy (2)
Store Strategy (2) Clarification of business type roles By efficiently reallocating management resources and optimizing the cost structure, we redefine the concept of each business type and establish business types better aligned with the needs of today. Points to refine Issues/challenges Number of
Slide 27: Marketing Strategy Development
Marketing Strategy Development Product department–led marketing strategy Each department understands the marketing strategy and uses it to expand usage and application scenarios. Collect Apply to customer Understand customers stores and Communicate to customers information products POS data Flyers I
Slide 28: Initiatives to Increase Number of Customers (1)
Initiatives to Increase Number of Customers (1) Creating attractive stores Experience-oriented sales area Pricing strategy Strengthened category ID-POS analysis and utilization Copyright © OKUWA Co., Ltd. All Rights Reserved. -28-
Slide 29: Initiatives to Increase Number of Customers (2)
Initiatives to Increase Number of Customers (2) Creating customer visit incentives Differentiation by products OKUWA app ・Okuwa Brand ・New members from the app ・Kurashi More ・Churn prevention ・Factory products ・Cooperation with external tenants ・Category enhancement ・Ready-to-eat food ・Convenience ・
Slide 30: IT/DX Utilization (1)
IT/DX Utilization (1) OKUWA app Effectively leverage the Okuwa App renewed last year. ◯ Expand active members (1) Acquisition of new members Registered members in 1H: approx. 73 thousand, Target for this fiscal year:100 thousand (2) Child Care Club Registered members in 1H: approx. 17 thousand, Targ
Slide 31: Deepening Sustainability Management
Deepening Sustainability Management Environmental initiatives (Achievements in the previous fiscal year) Integrated Report “Bottle-to-bottle” horizontal recycling Currently being prepared for publication by the end of the year. Implemented at 95 stores Approx. 650 t CO₂ emissions reduction Renewable
Slide 32: Maximization of the Value of Human Capital
Maximization of the Value of Human Capital Personnel strategy Carefully examine the issues and initiatives our company should address by category. Promote initiative to drive medium- to long-term human resource strategies. 2023 2024 2025 Developed human resources Established the vision & personnel s
Slide 33: Capital Policy and Financial Strategy
Capital Policy and Financial Strategy Acquisition of treasury shares The number of shares acquired: 1,082,500 shares (From April 2 to September 24, 2025) Total acquisition cost of shares: 999,947,900 yen Fiscal year ended Fiscal year ending Planned for the future February 20, 2025 February 20, 2026
Slide 34: Full-Year Financial Results Forecast
Full-Year Financial Results Forecast Fiscal year ended Fiscal year ending Consolidated (Million yen, %) February 20, 2025 February 20, 2026 Growth rate Operating income 250,150 259,000 103.5 Operating profit 1,328 2,100 158.1 Ordinary profit 1,442 2,100 145.6 Profit* (2,381) 800 － *Profit represents
Slide 35: Full-Year Financial Results Forecast
Full-Year Financial Results Forecast Non-consolidated (Supplementary information) Operating income: 258.0 billion yen ・Net sales from existing stores: 101.8% year on year Ordinary profit: 2.0 billion yen ・Selling, general and administrative expenses: Approx. 78.0 billion yen (up 3.8% year on year) ・
Slide 36: Opened on August 30 Okuwa Sakai-Shi Ekimae Store
Opened on August 30 Okuwa Sakai-Shi Ekimae Store (Sakai City, Osaka) ■ Caution regarding the use of this document The plans, strategies, forecasts and outlook regarding the performance of our company described in this document are based on assumptions and beliefs judged from the information currentl