Pal Group Holdings Co., Ltd. · TSE:2726
Pal — FY2026 Earnings Presentation
44 slides from Pal's earnings presentation, Apr 10, 2026
Slide 1: Materials for Financial Results Briefing
Fiscal Year Ended February 28, 2026 Materials for Financial Results Briefing April 10, 2026 PAL GROUP Holdings CO., LTD. Securities code: 2726 Management dedicated to the happiness of all employees and shareholders
Slide 2: Table of Contents
Table of Contents Financial Report 2 Review of Financial Results 3 for the Fiscal Year Ended February 28, 2026 Financial Results Forecast 16 for the Fiscal Year Ending February 28, 2027 Management Vision 18 Topics 21 Response to Shareholders 32 Initiatives for ESG 35
Slide 3: Financial Report
Financial Report Review of Financial Results for the Fiscal Year Ended February 28, 2026 Financial Results Forecast for the Fiscal Year Ending February 28, 2027
Slide 4: Review on the previous fiscal year
Review of Consolidated and Non-consolidated Financial Results of PAL GROUP Holdings CO., LTD. + PAL CO., LTD. for the Fiscal Year Ended February 28, 2026 Review on the previous fiscal year In the Japanese economy, despite wage hikes, the negative growth trend in real wages in Japan was not curtailed
Slide 5: Consolidated Statements of Income
Consolidated Statements of Income of PAL GROUP Holdings CO., LTD. for the Fiscal Year Ended February 28, 2026 (Millions of yen) Fiscal year ended Fiscal year ended Fiscal year ended February 28, 2026 February 29, 2024 February 28, 2025 Forecast Actual results Changes from the previous Compared to co
Slide 6: Non-consolidated Statements of Income of PAL GROUP Holdings and PAL CO., LTD.
Non-consolidated Statements of Income of PAL GROUP Holdings CO., LTD. and PAL CO., LTD. for the Fiscal Year Ended February 28, 2026 (Millions of yen) Fiscal year ended Fiscal year ended Fiscal year ended February 28, 2026 February 29, 2024 February 28, 2025 Forecast Actual results Changes from the p
Slide 7: Financial Situation of NICE CLAUP Co., LTD.
Financial Situation of NICE CLAUP Co., LTD. for the Fiscal Year Ended February 28, 2026 (Millions of yen) Fiscal year ended Fiscal year ended Fiscal year ended Changes from the February 29, 2024 February 28, 2025 February 28, 2026 previous fiscal year Actual results Actual results Actual results Net
Slide 8: Financial Situation of NOLLEY'S co., ltd.
Financial Situation of NOLLEY’S co., ltd. for the Fiscal Year Ended February 28, 2026 (Millions of yen) Fiscal year ended Fiscal year ended Fiscal year ended Changes from the February 29, 2024 February 28, 2025 February 28, 2026 previous fiscal year Actual results Actual results Actual results Net S
Slide 9: Overview of Sales Results and E-commerce Net Sales by Segment
Overview of Sales Results and E-commerce Net Sales by Segment (Millions of yen) Fiscal year ended Fiscal year ended Fiscal year ended Changes from the February 29, 2024 February 28, 2025 February 28, 2026 previous fiscal year Apparel Net Sales 119,767 127,795 144,840 113.3% Composition % 62.2% 61.5%
Slide 10: Main Brands
Main Brands Net Sales (Millions of yen) BEARDSLEY 20 stores 7,676 6,796 A commitment to comfortable forms and materials. Embroidery and original prints that lend a 5,627 whimsical touch of handcrafting. A unique worldview. Seasonal themes of crafting inspired by words 000.0% 113.0% symbolizing image
Slide 11: Selling, General and Administrative Expenses
Selling, General and Administrative Expenses (Millions of yen) Fiscal year ended Fiscal year ended Fiscal year ended Changes from the February 29, 2024 February 28, 2025 February 28, 2026 previous fiscal year Non-consolidated PAL GROUP Holdings CO., LTD. 78,310 81,336 88,794 109.2% + PAL CO., LTD. C
Slide 12: Number of Stores in Japan
Number of Stores in Japan Number of stores Other regions as of February 28, 2026: 1,151 Kansai region (+73 compared to the end of the previous fiscal year) Kanto region Status of opening/closing stores 1,200 1,151 The number of stores increased by 73 from the 1,100 1,078 end of the previous fiscal y
Slide 13: Extraordinary Income or Losses
Extraordinary Income or Losses (Millions of yen) Fiscal year ended Fiscal year ended Fiscal year ended February 29, 2024 February 28, 2025 February 28, 2026 Subsidy income – 220 – Gain on bargain purchase 235 – Compensation income – – 110 Total extraordinary income – 455 110 Loss on tax purpose redu
Slide 14: Consolidated Balance Sheets
Consolidated Balance Sheets (Millions of yen) Fiscal year ended Fiscal year ended Fiscal year ended Changes from the Remarks February 29, 2024 February 28, 2025 February 28, 2026 previous fiscal year Current assets 96,692 114,287 128,759 14,472 Cash and deposits 67,228 85,715 96,264 10,549 Notes and
Slide 15: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows (Millions of yen) Fiscal year ended Fiscal year ended Fiscal year ended February 29, 2024 February 28, 2025 February 28, 2026 Cash flows from operating activities 13,460 22,038 21,332 Cash flows from investing activities (4,404) 792 (4,215) Cash flows from finan
Slide 16: Cost of Capital (Estimates Based on the CAPM Model)
Cost of Capital (Estimates Based on the CAPM Model) Assumptions As of February 28, 2025 As of February 28, 2026 As of February 28, 2026 Provisionally assuming a Market risk premium 6.00% 6.00% 6.00% risk premium normally used at 6% Risk free rate 1.39% 2.14% 2.14% Yield of 10-year government bonds (
Slide 17: Full-year Financial Results Forecast for FY Ending February 2027
Consolidated and Non-consolidated Full-year Financial Results Forecast of PAL GROUP Holdings CO., LTD. + PAL CO., LTD. for the Fiscal Year Ending February 28, 2027 (Millions of yen) 1. Consolidated Fiscal year ended Fiscal year ended Fiscal year ended First half ending Second half ending Fiscal year
Slide 18: Premises for Full-year Financial Results Forecast
Premises for Full-year Financial Results Forecast for the Fiscal Year Ending February 28, 2027 1. Number of stores Fiscal year ended Fiscal year ended Fiscal year ended Fiscal year ending February 28, February 29, 2024 February 28, 2025 February 28, 2026 2027 (those fixed as of today) Number of new
Slide 19: Management Vision
Management Vision Business Results Trend Medium- to Long-term Vision
Slide 20: Business Results Trend
Business Results Trend (%) 58 Gross profit 56.8 ratio 56.5 56.4 56.1 55.8 55.7 56.3 55.9 56.7 Net sales 55.4 55 54.7 54.9 54.6 54.9 55.2 Ordinary 52 profit (Millions of yen) Since 2021 (Millions of yen) 250,000 Increased size of 3COINS stores 30,000 27,129 207,825 Since 2019 192,544 234,704 25,000 S
Slide 21: Medium- to Long-term Vision (Target of Consolidated Net Sales)
Medium- to Long-term Vision (Target of Consolidated Net Sales) Business strategies Promoting “PAL-style” management generating high values by expanding human resources investment Creating new brands and identifying talent ¥300.0 billion (In-house proposals, M&A, etc.) Increasing the scales of brands
Slide 22: Topics
Topics 1. . Introduction of an In-house Company System to PAL CO., LTD. 2. Progress of the Reform of MD 3. Enhancement of E-Commerce Sales 1). Trend in EC net sales 2). Trend in PAL App membership 4. Initiatives for Sustainability Management 1)., 2). Initiatives for sustainability management 3). Ini
Slide 23: Introduction of an In-house Company System to PAL CO., LTD.
1. Introduction of an In-house Company System to PAL CO., LTD. PAL CO., LTD. introduced an In-house Company System in March 2026, reorganizing the Apparel Business into “PAL Company” and the 3COINS Business into “3COINS Company.” PAL CO., LTD. Purpose 4th Division (1) Expediting decision-making on t
Slide 24: Progress of the Reform of MD
2. Progress of the Reform of MD Concrete measures Gross profit ratio SPA ratio 2013 Final stage in establishing the MD Cycle (8 weeks) for best-selling products 56.5% Maintain 80% Stage 1 Declaration of the bold reform of MD Taking bold actions responding to the environmental changes November In lig
Slide 25: Trend in EC net sales
* Figures for the fiscal year ended February 28, 2023 3-1). Trend in EC net sales and beyond reflect the application of the “Accounting Standard for Revenue Recognition” Strategic schedule ¥100.0 billion Fiscal year ended February 28, 2017: Enhance E-commerce Achieve in-house operation of our websit
Slide 26: Trend in PAL App membership
3-2). Trend in PAL App membership Strategic schedule 20.00 million Fiscal year ended February 28, 2019: Commence customer membership at actual stores 18.00 Fiscal year ended February 29, 2020: Commence customer membership at 3COINS million Fiscal year ended February 28, 2021: Commence E-commerce at
Slide 27: Initiatives for sustainability management (1)
4-1). Initiatives for sustainability management MD measures to improve the final consumption rate “Make what sells, when it sells, only in the quantities that will sell.” By combining DX and MD, the Company enables both sustainable growth and consideration for the global environment—its core compete
Slide 28: Initiatives for sustainability management (2)
4-2). Initiatives for sustainability management Initiative for disclosure using CDP The PAL GROUP regards climate change response as one of its most important management issues in its management strategy, aimed at achieving a sustainable society and enhancing medium- to long-term corporate value. Un
Slide 29: Initiative for regional revitalization activities
4-3). Initiative for regional revitalization activities Kuroshio Sou KITO forest market shimoichi In July 2023, we opened newly renovated “Kuroshio Sou” In July 2024, we launched “Kito forest market shimoichi” in in Shirahama-cho, Wakayama Prefecture. This boutique Shimoichi-cho, Yoshino-gun in Nara
Slide 30: Promotion of human capital management (1)
5-1). Promotion of human capital management Establishment of a base to accelerate growth Last year, PAL CO., LTD. announced a significant increase in the starting salary for newly hired employees joining the Company in 2026, with the aim of recruiting human resources who will serve as the core of th
Slide 31: Promotion of human capital management (2)
5-2). Promotion of human capital management Establishment of schemes to support career development of female employees Many major businesses of the PAL GROUP target female customers, while female employees, accounting for over 80% of the total employees, play active roles in a wide range of position
Slide 32: Opening of the Second 3COINS Hong Kong Location
6. Opening of the Second 3COINS Hong Kong Location Opening of second 3COINS store in Hong Kong Following the opening of its first Hong Kong location—3COINS Hysan Place—the 3COINS brand celebrated the grand opening of its second Hong Kong location—3COINS Metroplaza—on February 6, 2026. The first day
Slide 33: Response to Shareholders
Response to Shareholders 1. Policy for Return to Shareholders 2. Shareholder Benefit Program
Slide 34: Policy for Return to Shareholders
1. Policy for Return to Shareholders The Company’s basic policy is to distribute dividends commensurate with its business performance. While striving to maintain a stable payment of dividends, the Company determines dividend of surplus taking into account enhancement of internal reserves to prepare
Slide 35: Shareholder Benefit Program
2. Shareholder Benefit Program The number of shareholder benefit program accommodations increased to four in June 2025. The latest addition to the list of accommodations available for shareholder discounts is “SETRE NARAMACHI.” This has expanded the number of accommodations available in western Japa
Slide 36: Initiatives for ESG
Initiatives for ESG 1. PAL’s initiatives for ESG 2. PAL Forest Project (Environment) 3-1). Endowed courses at Kwansei Gakuin University (Social) 3-2). Initiatives by PAL Inoue Scholarship Foundation (Social) 4. Gender equality and work style reform (Governance)
Slide 37: PAL's initiatives for ESG
1. PAL’s initiatives for ESG PAL’s initiatives for ESG (Environment, Social, Governance) are to strive for achieving its management philosophy of “Management dedicated to the happiness of all employees and shareholders” and “Management dedicated to society and the globe into the future” through its
Slide 38: PAL Forest Project (Environment)
2. PAL Forest Project (Environment) PAL Forest Project (Environment) “PAL Forest Tree-Planting Project” started in 2011 and since then more than 400 broadleaf trees have been planted for 13 years. Tree-planting was cancelled due to the COVID-19 pandemic in 2020 and 2021; however, it was resumed in 2
Slide 39: Endowed courses at Kwansei Gakuin University (Social)
3-1). Endowed courses at Kwansei Gakuin University (Social) Endowed courses for the School of International Studies, Kwansei Gakuin University (Social) Following the endowed courses provided at Osaka University for five years from 2013, PAL started a course for the School of International Studies, K
Slide 40: PAL Inoue Scholarship Foundation (1) (Social)
3-2). Initiatives by PAL Inoue Scholarship Foundation (Social) Human resources development through the “PAL Inoue Scholarship Foundation” (1) (Social) PAL established the “PAL Inoue Scholarship Foundation” together with the Inoue family, the founder of the Company. After its establishment in 2013, i
Slide 41: PAL Inoue Scholarship Foundation (2) (Social)
3-2). Initiatives by PAL Inoue Scholarship Foundation (Social) Human resources development through the “PAL Inoue Scholarship Foundation” (2) (Social) In addition to the scholarship program, PAL Inoue Scholarship Foundation has, since FY2018, been holding PAL FOUNDATION CUP—a role-playing contest fo
Slide 42: Gender equality and work style reform (Governance)
4. Gender equality and work style reform (Governance) Thorough “gender equality” and “work style reform” (Governance) (1) Gender equality PAL has a solid “Equal treatment for equal work” guideline for a transparent personnel evaluation system, creating an environment where each and every employee ca
Slide 43: About the PAL GROUP
About the PAL GROUP “Contributing to society by Group “Management dedicated to Company constantly proposing new management the happiness of all motto fashionable ways of life” philosophy employees and shareholders” Company name PAL GROUP Holdings CO., LTD. (Head Office) Keihanshin Midosuji Bldg. 10F
Slide 44: IR contact
IR contact Corporate Planning Division TEL +81-6-6227-0308 FAX +81-6-6231-1056 The plans, strategies, predictions, etc., contained in this document which are not matters of historical fact are forecasts related to future business results, etc., and include elements of risk and uncertainty. Please be