Japan Eyewear Holdings Co.,ltd. · TSE:5889
Japan Eyewear Holdings Co.,ltd — Q2 FY2027/1 Earnings Presentation
41 slides from Japan Eyewear Holdings Co.,ltd's earnings presentation, Sep 11, 2026
Slide 1: Financial Results Briefing
For the 6 Months Ended July 31, 2026 Financial Results Briefing September 2026 Japan Eyewear Holdings Co., Ltd Securities code: 5889
Slide 2: Contents
Contents 01 Overview of the First 6 Months of FY2027/1 02 Performance by Business Segment | 1
Slide 3: Overview of the First 6 Months of FY2027/1
01 Overview of the First 6 Months of FY2027/1 | 2
Slide 4: Executive Summary
Executive Summary Financial Results for the 6 Months Ended July 31, 2026 Revenue 10,258million yen （＋14.8％） ◆ Revenue and operating profit reached record highs for the interim period Gross margin ◆ Store sales increased by 14.4% and contributed to sales revenue growth (% of sales) 78.6％ （－0.4pts.） ◆
Slide 5: Consolidated Profit or Loss (6 months, YoY)
Consolidated Profit or Loss (6 months, YoY) ⚫ Revenue grew 14.8％ to approx. 10.3 billion yen; operating profit increased 21.4％ to 3.5 billion yen ⚫ Gross profit margin stood at 78.6%; operating profit margin at 34.2%, maintaining high levels ⚫ Net profit for the first 6 months rose by 28.5% YoY to 2
Slide 6: Consolidated Profit or Loss (Progress against Full-Year Plan)
Consolidated Profit or Loss (Progress against Full-Year Plan) ⚫ The progress rate against the full-year plan was 49.8% for revenue, 51.5% for operating profit and 50.9% for net profit ⚫ The progress rate is in line with expectations unit：￥MM Full-year plan FY2027/1 Q2 Progress rate Revenue 20,600 10
Slide 7: Comparison of Sales for FY2026 and FY2027 (6 months)
Comparison of Sales for FY2026 and FY2027（6 months） ⚫ Consolidated revenue achieved an increase of 14.8% YoY to approx. 10.3 billion yen ⚫ Sales to overseas customers grew by 680 million yen YoY due to continued strong sales to inbound tourists. Sales to Japanese customers at domestic stores, includ
Slide 8: Consolidated Profit or Loss (Overseas Sales)
Consolidated Profit or Loss (Overseas Sales) ⚫ Q2 inbound sales at domestic stores increased by 18.8% YoY to approx. 1.1billion yen, marking a record high on a quarterly basis ⚫ Q2 overseas sales (incl. inbound sales) increased by 25.8% YoY to 1.9 billion yen, accounting for 35.9% of consolidated sa
Slide 9: Latest Inbound Sales Trends
Latest Inbound Sales Trends ⚫ Customers from China, Korea, Hong Kong and Taiwan account for approx. 80% of inbound sales at domestic stores. China’s share fell by approx. 13 points from FY2026 ⚫ Though still affected by the decline in the number of visitors from China, this was offset by growth in s
Slide 10: Inbound Sales at Domestic Stores
Inbound Sales at Domestic Stores ⚫ Inbound sales to Chinese customers accounted for under 7% of consolidated sales; fell by 3 points from FY2026 ⚫ Our inbound sales for Q2 showed a similar trend to duty-free sales in the department store sector ⚫ The decline in sales to Chinese customers within inbo
Slide 11: Sales to Japanese Customers at Domestic Stores
Sales to Japanese Customers at Domestic Stores ⚫ Domestic store sales attributable to Japanese customers account for approx. 72% ⚫ Sales to Japanese customers at domestic stores remain robust, driven by new store openings in carefully selected locations and increases in unit price % of Domestic Stor
Slide 12: Consolidated SG&A Expenses (6 months)
Consolidated SG&A Expenses (6 months) ⚫ SG&A expenses rose by approx. 500 million yen; mainly due to higher costs resulting from an increase in the number of stores and higher store sales unit：￥MM FY2026/1 Q2 FY2027/1 Q2 Variance %YoY Remarks SG&A 4,180 4,651 470 111.3% vs. Sales 46.8% 45.3% - 1.4Pt
Slide 13: Consolidated Profit or Loss (Q2, YoY)
Consolidated Profit or Loss (Q2, YoY) ⚫ Revenue grew 13.9％ to 5.4 billion yen; operating profit increased 15.5％ to 1.8 billion yen ⚫ Gross profit margin stood at 77.9%; operating profit margin at 33.7%, maintaining high levels ⚫ Net profit for Q2 rose by 22.3% YoY to approx. 1.2 billion yen unit：￥MM
Slide 14: YoY Variance in Sales Revenue (Q2)
YoY Variance in Sales Revenue (Q2) ⚫ Consolidated revenue achieved an increase of 13.9% YoY to 5.4 billion yen ⚫ Overseas sales increased by 330 million yen YoY, driven by continued strong inbound sales. Sales to Japanese customers at domestic stores, including new store openings, increased by appro
Slide 15: Consolidated SG&A Expenses (Q2)
Consolidated SG&A Expenses (Q2) ⚫ SG&A expenses rose by 200 million yen; mainly due to higher costs resulting from an increase in the number of stores and higher store sales unit：￥MM 2026/1 Q2 2027/1 Q2 (May-July) (May-July) Variance % YoY Remarks SG&A 2,153 2,393 239 111.1% vs. Sales 45.4% 44.3% -
Slide 16: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position ⚫ Of the approx. 700-million-yen increase in current assets, approx. 600 million yen was cash and deposits. Inventories increased by 200 million yen ⚫ Total equity increased by 1.3 billion yen, driven by a rise from the recognition of profit for the perio
Slide 17: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows ⚫ Cash and deposits increased by approx. 600 million yen from the end of FY2026/1 Q2, due to factors such as an increase in operating cash flow and a reduction in investment cash outflows unit：￥MM FY2026/1 Q2 FY2027/1 Q2 Details Operating Cash Flow (sub-total) 3,
Slide 18: Stores Opened/Closed
Stores Opened/Closed ⚫ 117 stores in total at the end of FY2027/1 Q2 ⚫ Opened 5 stores (Kaneko: 2, Four Nines: 3) and closed 1 store in the first half of FY2027/1 Results for FY2027/1 Q2 Full-year plan Latest forecast # of stores # of stores # of stores # of stores as of as of as of as of Jan.31,202
Slide 19: Quarterly Trends
Quarterly Trends ⚫ Quarterly sales revenue and operating profit reached all-time highs Revenue Operating Profit unit：￥MM unit：￥MM 5,404 1,823 5,217 1,680 4,854 1,637 4,745 1,578 4,570 1,559 4,439 4,485 1,432 1,404 4,191 1,307 3,861 3,795 3,839 1,195 1,169 3,485 3,286 3,141 1,035 1,019 2,918 2,872 88
Slide 20: Performance by Business Segment
02 Performance by Business Segment | 19
Slide 21: Profit or Loss by Segment (6 months)
Profit or Loss by Segment (6 months) ⚫ The Kaneko Optical segment saw a significant increase of 20.2% YoY in revenue; 25.6% YoY in profit ⚫ The Four Nines segment increased by a modest 4.5% YoY in revenue and 2.6% in profit, partly due to a decline in overseas wholesale sales unit：￥MM FY2026/1 Q2 FY
Slide 22: Profit or Loss by Segment (3 months)
Profit or Loss by Segment（3 months） ⚫ The Kaneko Optical segment saw a significant increase of 20.0% YoY in revenue; 22.6% YoY in profit ⚫ The Four Nines segment increased by a modest 3.1% YoY in revenue and decreased by 1.3% in profit, partly due to a decline in overseas wholesale sales unit：￥MM FY
Slide 23: Consistent Growth at Existing Stores Driven by Brand Strength
Consistent Growth at Existing Stores Driven by Brand Strength ⚫ Holdings 2 brands with a strong presence in the domestic eyewear market enables us to offer a diverse range of products, further enhancing the Group’s brand strength ⚫ Thus, we achieve growth in existing stores through consistent increa
Slide 24: [Kaneko Optical]
[Kaneko Optical] ⚫ With steady growth in store sales continuing, segment revenue for Q2 rose 20.0% YoY to 3.6 billion yen. Segment profit increased by 22.6% YoY to 1.4 billion yen, both reaching record highs ⚫ Opened 2 new stores in the first half of FY2027 Segment Revenue by Sales Channel Segment P
Slide 25: [Kaneko Optical] Opening of the Flagship Store
[Kaneko Optical] Opening of the Flagship Store ⚫ On July 31, 2026, “KANEKO GANKYO-TEN Sabae” was opened in Sabae, the city where our brand originated ⚫ With a wide range of products exclusively available at the flagship store, it continuously enjoys steady sales, attracting many customers since its
Slide 26: [Four Nines]
[Four Nines] ⚫ Segment revenue rose 3.1% YoY to approx. 1.8 billion yen; Segment profit decreased 1.3% YoY to approx. 600 million yen ⚫ Opened 3 new stores in the first half of FY2027 Segment Revenue by Sales Channel Segment Profit unit：￥MM unit：￥MM 1,748 1,777 1,800 1,723 1,679 1,599 232 246 594 24
Slide 27: [Four Nines] New Stores Opened
[Four Nines] New Stores Opened Mar. 2026 Apr. 2026 Jun. 2026 Four Nines HULIC SQUARE SAPPORO Four Nines Quartz SHINSAIBASHI Four Nines HAERA | 26
Slide 28: [Four Nines]
[Four Nines] ⚫ Domestic wholesale sales increased by 0.1% to 500 million yen; overseas wholesale sales decreased 18.9% to 200 million yen ⚫ The decrease in overseas wholesale sales was mainly due to the deferral of some sales recognition to the following quarter Quarterly Domestic Wholesale Sales Qu
Slide 29: Shareholder Return
Shareholder Return ⚫ Return to shareholders, loan repayment and growth investment will be implemented with an appropriate balance using ample cash generated as the source of funds Generation of Ample Operating Cash Flow Dividend Policy Our basic policy is to continue paying stable dividends whilst s
Slide 30: Appendix
Appendix JAPAN EYEWEAR HOLDINGS | 29
Slide 31: Company Profile
Company Profile Company name Japan Eyewear Holdings Co., Ltd. Fukui Head Office 8-13 Kamikobata-cho, Sabae-city, Fukui Address Tokyo Head Office 2-11-12 Seijo, Setagaya-ku, Tokyo Founded 1958 (as Kaneko Optical) Establishment 2019（Establishment of the former Lunettes HD Co., Ltd.） Capital 978 millio
Slide 32: Luxury Eyewear Company Originated in Japan
Luxury Eyewear Company Originated in Japan ⚫ Produces and sells high quality eyewear originally designed with craftsmanship of “Sabae, Fukui”, the world-renowned eyewear production site(1) Four Nines Trend Leader of Domestic Eyewear Industry Luxury Eyewear Brand that Realizes Supreme Quality, Origin
Slide 33: Our Philosophy
Our Philosophy: To inspire the world through eyewear, to add to the world's cultural richness, and to share our prosperity with all our contributors. Long-term Vision: Share Japanese traditional craftsmanship and innovation with the world Copyright © Japan Eyewear Holdings Co.,Ltd. All Rights Reserv
Slide 34: Brand Concept: Craftsmanship and Innovation
Brand Concept With excellence in techniques and craftsmanship (spirit of monozukuri) cultivated in Sabae, one of the 3 renowned sites of eyewear production, finest quality is achieved via combination with latest innovative technologies that realizes well-designed, fashionable and functionable produc
Slide 35: Brand Positioning
Brand Positioning ⚫ Successfully differentiated from other companies and brands by delivering high-level emotional and functional value イメージ図 For Illustrative Purpose Only Emotional 情緒的価値 Value 感情の「揺さぶり」 Emotional Appeal High 高 Low 低 High 高 Functional Value 機能的価値 Emotional 情緒的価値 Value Empathy with t
Slide 36: Brand Philosophy
Brand Philosophy ⚫ Each brand establishes a unique position through the differences in brand’s policy Modern interpretation of Design/Approach “vintage” and “classic” Craftsmen’s handwork, Products/Policy careful manufacture Value the background of Appeal products and creators Modest Logo Eyewear is
Slide 37: Key Financials
Key Financials Revenue Gross margin Operating profit unit：￥MM unit：￥MM % Sales margin unit：￥MM % Sales margin 78.9% 78.7% 32.0% 32.0% 18,640 27.4% 5,328 5,957 16,666 77.5% 77.5% 14,672 13,145 13,528 76.6% 10,485 20.8% 3,700 10,722 8,213 16.0% 7,073 5,482 2,226 1,130 2022/1 2023/1 2024/1 2025/1 2026/
Slide 38: Trend of Consolidated SG&A Expenses
Trend of Consolidated SG&A Expenses ⚫ Q2 SG&A expenses-to-revenue ratio fell by 1.1 points YoY due the effect of revenue growth % unit：￥MM 52.1% 50.3% 45.8% 44.3% 48.1% 46.5% 48.0% 48.8% 48.4% 48.4% 2,388 2,393 47.3% 2,194 45.4% 2,156 2,258 47.2% 44.3% 2,153 2,026 1,965 1,872 1,826 1,837 1,027 978 1
Slide 39: FY2027/1 Initiatives
FY2027/1 Initiatives ⚫ We shall continue to implement measures steadily towards achieving the medium-term plan 1 New store opening in Japan: More than 5 2 New store opening in Greater China: More than 2 Overseas customers sales within total sales: 35% 3 Inbound sales: ¥4.0 billion 4 Further price in
Slide 40: FY2027/1 Forecast
FY2027/1 Forecast ⚫ The full-year earnings forecast for FY2027/1: Revenue to increase by 10.5% YoY to 20.6 billion yen; operating profit to rise 14.2% to 6.8 billion yen; and net profit to grow by 16.3% to 4.4 billion yen unit：￥MM FY2026/1 FY2027/1 Forecast % YoY Revenue 18,640 20,600 110.5% COGs 3,
Slide 41: Disclaimer
Disclaimer This document is prepared for general publication of information concerning Japan Eyewear Holdings Co., Ltd. (“JEH”) and will not constitute an offer to sell or a solicitation of an offer to buy shares of JEH’s common stock or any other securities issued by it. Any information related to
Japan Eyewear Holdings — Q2 FY2027/1 Earnings Presentation on 6ix