France Bed Holdings Co., Ltd. · TSE:7840
France Bed — FY2026 Earnings Presentation
48 slides from France Bed's earnings presentation, Jun 4, 2026
Slide 1: Financial Results Briefing for Fiscal Year Ended March 31, 2026
Financial Results Briefing for Fiscal Year Ended March 31, 2026 June 4, 2026 FRANCE BED HOLDINGS CO., LTD. (Securities Code: 7840) Note: this document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the
Slide 2: Contents
Contents 1. Topics ...P.3~ 2. Performance Report for the Fiscal Year ...P.5~ Ended March 31, 2026 3. Performance Outlook for the Fiscal ...P.16~ Year Ending March 31, 2027 4. Key Future Initiatives ...P.24~ 5. Reference ...P.30~ 2
Slide 3: 1. Topics
1. Topics 3
Slide 4: Topics
Topics Date : Item: Details: ・Revision of full-year earnings forecasts for the Revision of full-year earnings fiscal year ended March 2026 forecasts and partial withdrawal February 6, 2026 ・Withdrawal of performance targets set forth in of the medium-term management medium-term management plan plan
Slide 5: 2. Performance Report for Fiscal Year Ended March 31, 2026
2. Performance Report for Fiscal year ended March 31, 2026 5
Slide 6: Consolidated Business Results
Consolidated Business Results (Fiscal year ended March 31, 2026) Net sales continued to rise, but profit declined due to increased costs (millions of yen) Previous Current period (Fiscal year ended March 31, 2026) period Plan Year-on-year Results Plan (Note) Results achievement Amount of Percentage
Slide 7: Consolidated Business Results (Factors Affecting Operating Profit)
Consolidated Business Results (Factors Affecting Operating Profit) The increase in net sales was outweighed by the increase in expenses, resulting in a decrease in operating profit. (Operating profit decreased by 361 million yen (- 7.7%) year on year) (millions of yen) ＋658 ＋98 -1,119 Increase in pr
Slide 8: Business Results by Segment
Business Results by Segment (Fiscal Year Ended the March 31, 2026) In the Medical Services segment, profits decreased due to increased costs despite maintaining growth. In the Home Furnishings and Health segment, profits declined due to a heavy burden of fixed costs against decreased sales. (million
Slide 9: Summary of Medical Services Business
Summary of Medical Services Business Net sales increased and business base expanded steadily in all major areas. On the other hand, profit decreased due to an increase in fixed costs such as investment in personnel and logistics associated with growth, as well as a restriction on supply capacity in
Slide 10: Factors Affecting Ordinary Profit of Medical Services Business
Factors Affecting Increases/Decreases in Ordinary Profit of Medical Services Business Ordinary profit of Medical Services Business decreased by 223 million yen (-6.2%) year on year. The main factor affecting the decrease in ordinary profit was an increase in SG & A expenses. (millions of yen) ＋764 -
Slide 11: Factors Affecting Ordinary Profit of Medical Services (Excluding HCSY)
Factors Affecting Increases/Decreases in Ordinary Profit of Medical Services Business (Excluding 2 months of HCSY in the previous fiscal year) Decrease in profit as the increase in SG&A expenses exceeded the increase in gross profit (underlying basis) Ordinary profit decreased by 149 million yen (-4
Slide 12: Summary of Home Furnishings and Health Business
Summary of Home Furnishings and Health Business Amid a decline and downsizing of furniture retailers, and sluggish demand for durable consumer goods due to ongoing inflation, sales decreased by 0.5%, while ordinary profit declined by 10.7%, reflecting a higher fixed cost burden associated with lower
Slide 13: Factors Affecting Ordinary Profit of Home Furnishing and Health Business
Factors Affecting Increases/Decreases in Ordinary Profit of Home Furnishing and Health Business Gross profit maintained largely unchanged, but ordinary profit decreased by 114 million (– 10.7%) year on year due to a higher burden of fixed costs associated with lower sales. (millions of yen) ＋67 Incr
Slide 14: Consolidated Balance Sheet
Consolidated Balance Sheet (millions of yen) Amount of As of March 31, 2025 As of March 31, 2026 change Current assets 38,483 35,330 ▲3,152 (Cash and deposits/short- term securities) 17,223 14,855 ▲2,367 (Inventories) 9,287 8,056 ▲1,231 Non-current assets 32,363 32,388 24 (Rental Assets) 5,393 5,701
Slide 15: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows (millions of yen) Fiscal year ended Fiscal year ended Amount of March 31, 2025 March 31, 2026 change Cash and cash equivalents 13,202 13,223 20 at beginning of period Cash flows from operating activities 7,448 6,333 ▲1,115 (Depreciation) 5,094 5,033 ▲60 (Increas
Slide 16: 3. Performance Outlook for the Fiscal Year Ending March 31, 2027
3. Performance Outlook for the Fiscal Year Ending March 31, 2027 16
Slide 17: Consolidated Business Performance Outlook for FY Ending March 2027
Consolidated Business Perfomance Outlook of the Fiscal Year Ending March 2027 Profit expected to return to growth following the resolution of cost increase factors in the current period (millions of yen) Fiscal year ended Fiscal year ended Amount of Percentage March 31, 2026 March 31, 2027 change ch
Slide 18: Segment Profit Outlook for the Fiscal Year Ending March 31, 2027
Segment Profit Outlook for the Fiscal Year Ending March 31, 2027 Profit growth in Medical Service Business driven by efficiency improvement. Profit recovery in Home Furnishings and Health Business driven by restructuring. (millions of yen) Fiscal year ended Fiscal year ended Amount of Percentage Mar
Slide 19: Medical Services Business
Medical Services Business Financial Targets for fiscal year ending March 31, 2027 (profit/Loss by Segment) (millions of yen) Fiscal year Fiscal year ended March ending March Amount Percentage 31, 2026 31, 2027 of change change Results Plan Medical Net sales 41,830 43,700 1,870 +4.4% Services Busines
Slide 20: Home Furnishings and Health Business
Home Furnishings and Health Business Financial Targets for fiscal year ending March 31, 2027 (profit/Loss by Segment) (millions of yen) Fiscal year Fiscal year ended March ended March Amount of Percentage 31, 2026 31, 2027 change change Results Plan Home Net sales 19,380 19,400 20 +0.1% Furnishings
Slide 21: Capital Investment for the Fiscal Year Ending March 31, 2027
Capital Investment for the Fiscal Year Ending March 31, 2027 (millions of yen) Fiscal year ended Fiscal year ended Fiscal year ending March 31, 2025 March 31, 2026 March 31, 2027 Results Results Plan Capital Investment 4,944 4,995 4,850 Rental Assets 3,832 3,993 3,800 Service Center 264 345 315 Depr
Slide 22: Shareholder Return
Shareholder Return Targeting a consolidated dividend payout ratio of approximately 50% while acquiring treasury stock on a sustained basis. （Yen） Dividend Dividend payout ratio 50 50.1% 52% 49.9% 48.1% 50% 47.5% 40 46.9% 48% 45.6% 44.6% 46% 30 44% 42% 30 33 36 39 40 41 42 20 40% Plan of FY FY ended
Slide 23: Consolidated Financial Results for the Last Five Fiscal Years
Consolidated Financial Results for the Last Five Fiscal Years (millions of yen) Fiscal year ended Fiscal year ended Fiscal year ended Fiscal year ended Fiscal year ended March 31, 2022 March 31, 2023 March 31, 2024 March 31, 2025 March 31, 2026 Net sales 25,978 28,244 28,366 29,250 29,259 Interim Or
Slide 24: 4. Key Future Initiatives
4. Key Future Initiatives 24
Slide 25: Business Environment and Basic Policy for Profit Structure Reform
Recognition of Business Environment and Basic Policy for Profit Structure Reform Medical Services Business Home Furnishings and Health Business Stable demand growth Demand fluctuates due to against the backdrop of changes in the market aging population environment Capturing growing markets Respondin
Slide 26: Future Initiatives - Medical Services Business
Future Initiatives _ Medical Services Business 1 2 3 Expansion of rental Strengthening Improving service nursing care robotics operational and ICT segment efficiency Development of revenue Expansion of high value- Enhancing Cost sources independent of added services Resilience through long-term care
Slide 27: Future Initiatives - Home Furnishings and Health Business
Future Initiatives _ Home Furnishings and Health Business 1 2 3 Expansion of Reduction of Optimization of growth areas manufacturing costs production system Strengthening hotel rental Shifting to Business Shifting to Business and e-commerce Operations that Prioritize Operations that Prioritize busin
Slide 28: Future Initiatives - Group-wide
Future Initiatives _ Group-wide Rental sales (including sales of linen supply) consolidated net sales 70,000 Ratio of Rental Sales to Net Sales 51.0% （millions of yen） 60,561 61,769 58,578 59,151 50.0% 60,000 50.0% 49.0% 50,000 48.0% 47.0% 40,000 45.8% 46.0% *50% temporarily achieved In April 2026 4
Slide 29: Performance Targets for the Fiscal Year Ending March 31, 2027
Future Initiatives _ Group-wide Performance Targets for the Fiscal Year Ending March 31, 2027 Aim to achieve revenue and profit growth. 4 29
Slide 30: 5. Reference
5. Reference 30
Slide 31: Profile of Our Company
Profile of Our Company Company name France Bed Holdings Co., Ltd. Logo Mark Head office Shinjuku Square Tower 5F, 6-22-1 Nishi-Shinjuku, Shinjuku-ku, Tokyo D a t e o f March 30, 2004 establishment Share capital 3 billion yen Listing category Tokyo Stock Exchange Prime Market Representative Shigeru I
Slide 32: Main History of Our Group
Main history of Our Group 1949 Established Futaba Seisakusho, a private store, in Mitaka City, Tokyo (Manufacture of vehicle seats such as scooters). 1952 Reorganized to Futaba Seisakusho Co., Ltd. 1961 Company name was changed to "France Bed Co., Ltd." (launch of the first split bed in Japan in 195
Slide 33: Consolidated Net Sales Breakdown by Segment
Breakdown by Segment (as of March 31, 2026) Consolidated Net Sales 61,769 million yen Medical Services Business Home Furnishings and Health Business B A A Ratio of Sales Ratio of Sales 67.7％ 31.3％ D B C A Nursing care rental and rental wholesale sales A Wholesale sales of furniture retailers and dep
Slide 34: Business Model (Medical Services Business)
Business Model (Medical Services Business) French Bed Group Clients Providers and Users Sale and rental of assistive products Assistive products rental business Rental wholesale Assistive products rental business operator Wholesale sales The elderly Rental Wholesale Company at home Sales and rental
Slide 35: Business Model (Home Furnishings and Health Business)
Business Model (Home Furnishings and Health Business) French Bed Group Clients Providers and Users Furniture specialty store Department store Wholesale sale and Home furnishings and rental of household electronics retail store health business beds, etc. EC business operator Sale and rental of hotel
Slide 36: Distribution Structure of Assistive Products Rental Business
Distribution Structure of Assistive Products Rental Business and Business Domain of Our Company Assistive and care products Assistive products rental Rental Wholesalers Manufacturer Business operators (Rental assets not owned by the company) France Bed co., Ltd. France Bed co., Ltd. Other companies
Slide 37: Assistive Products Rental Service
Assistive Products Rental Service Assistive products rental service The service allows users to use assistive products useful for daily life and nursing care at a cost equivalent to 10% of the rental fee (Note). ④ Confirmation of the status of lending and use of products Home care support ➂Request A
Slide 38: Long-Term Care Benefit Cost for Assistive Products Rental Service
Long-Term Care Benefit Cost, etc. for Assistive Products Rental Service Benefit cost (100 million yen) Year-on-year change in benefit costs Benefit cost (100 million yen) Benefit cost by products category Amount of expenses Year-on-year 1400 Handrills 5,000 107.00% 106.60% 1200 Special Care 4,000 10
Slide 39: Medium-term Management Plan
Medium-term Management Plan (Fiscal Year Ended March 31, 2025 to Fiscal Year Ending March 31, 2027) 39
Slide 40: Background and Challenges of the Current Medium-term Management Plan
(Reference) Background and Challenges of the Current Medium-term Management Plan Medical Services Business Home Furnishings and Health Business • Progress of the super-aged society • Shrinking trend in the domestic and expansion of medical and furniture and interior market nursing care needs. • Olig
Slide 41: Quarterly Consolidated Net Sales
Consolidated Financial Results (Quarterly Consolidated Net Sales) 60,561million yen 61,769 million yen (millions of yen) 16,958 17,000 2 months' account 16,266 settlement addition of Home care 16,381 Service Yamaguchi Co., Ltd 15,550 14,815 14,930 14,897 15,000 14,396 14,519 14,434 14,362 13,969 13,
Slide 42: Quarterly Consolidated Ordinary Profit
Consolidated Financial Results (Quarterly Consolidated Ordinary Profit) 4,686 million yen 4,335 million yen (millions of yen) 1,485 1,500 2 months' account 1,377 settlement addition of Home care 1,305 Service Yamaguchi Co., Ltd 1,264 1,200 1,164 1,100 1,107 1,064 1,038 1,006 974 900 791 600 300 1Q 2
Slide 43: Medical Services Business Quarterly Net Sales
Summary of Medical Services Business (Quarterly Consolidated Net Sales) 40,509 million yen 41,830 million yen (millions of yen) 2 months' account settlement addition of 12,000 Home care 11,740 Service Yamaguchi Co., 11,233 10,921 Ltd 10,215 10,265 9,931 9,784 9,464 9,430 9,560 9,608 9,046 9,000 6,00
Slide 44: Medical Services Business Quarterly Ordinary Profit
Summary of Medical Services Business (Quarterly Ordinary Profit) 3,592 million yen 3,369 million yen (millions of yen) 1,500 1,200 1,200 1,068 2 months' account 1,095 settlement addition of Home care Service Yamaguchi Co., Ltd 900 843 857 792 829 823 799 771 761 643 600 300 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
Slide 45: Home Furnishings and Health Business Quarterly Net Sales
Summary of the Home furnishings and Health Business (Quarterly Net Sales) 19,481million yen 19,380 million yen (millions of yen) 8,000 7,000 6,000 5,170 5,011 5,134 5,070 4,816 4,804 4,948 4,964 5,000 4,752 4,752 4,625 4,550 4,000 3,000 2,000 1,000 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Fiscal year e
Slide 46: Home Furnishings and Health Business Quarterly Ordinary Profit
Summary of Home Furnishings and Health Business (Quarterly Ordinary Profit) 1,067 million yen 952 million yen (millions of yen) 600 500 433 318 400 309 300 264 272 269 264 216 273 162 181 200 175 100 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Fiscal year ended March 31, Fiscal year ended March 31, Fiscal
Slide 47: BPS, Stock Price and PBR
BPS, Stock Price and PBR Net assets per share (BPS) Closing stock price at the end of the FY (yen) Price-to-book ratio (PBR) 1500 1.1 1.1 1.2 1.0 0.9 1400 1.0 1,288 1,304 1,293 1300 0.8 1,203 0.8 1200 1,175 1,106 0.6 1,058 1,058 1,030 1100 0.4 1000 900 865 0.2 800 0.0 Fiscal year Fiscal year Fiscal
Slide 48: Additional Remarks
Additional Remarks (Contact) Accounting / General Affairs Department Email: ir@francebed-hd.co.jp (Cautionary Note Concerning Forward-looking Statements) This presentation contains forward-looking statements, including our forecastss, beliefs, expectations, intentions and strategies. These statement