And St Hd Co.ltd. TSE:2685
And ST HD : FY2026/02 1H Presentation Material has been posted.
Source: MarketScreener
September 30, 2025
FY2026/02 1st Half Overview
Consolidated Income Statement：Summary 4
Adastria and Group Companies 8
Global Business/ Brand Retail Business 10
2
Consolidated Balance Sheet 12
Number of Stores and Revised plan 13
2
FY2026/02 Forecast 14
Second Half Direction and External Environment 16
Medium-Term Management Plan Progress
Summary 19
Business Segment Progress, Topics 21
Logistics Strategy/ Sustainability Initiatives / 30
Published Integrated Report 2025
Transitioning to a Holding Company 33
Contents
Overview Record-high first half net sales in line with plan; 2Q stand-alone net sales underperformed plan slightly. Gross profit margin declined year on year while we controlled SG&A expenses; however, operating profit fell short of plan
(Millions of yen)
FY2025/02 1H | FY2026/02 1H | ||||||||||
Six Months Ended | Three Months Ended | Six Months Ended | Three Months Ended | ||||||||
Ratio | Ratio | Ratio | YoY | Ratio | YoY | ||||||
Net Sales | 144,203 | 100.0% | 70,201 | 100.0% | 149,345 | 100.0% | 103.6% | 71,880 | 100.0% | 102.4% | |
Gross profit | 80,320 | 55.7% | 38,714 | 55.1% | 82,372 | 55.2% | 102.6% | 38,534 | 53.6% | 99.5% | |
SG&A expense | 70,424 | 48.8% | 34,832 | 49.6% | 74,399 | 49.8% | 105.6% | 36,165 | 50.3% | 103.8% | |
Advertising & promotion | 3,958 | 2.7% | 1,897 | 2.7% | 4,665 | 3.1% | 117.8% | 1,889 | 2.6% | 99.6% | |
Personnel | 26,335 | 18.3% | 13,245 | 18.9% | 27,152 | 18.2% | 103.1% | 13,382 | 18.6% | 101.0% | |
Rent & depreciation * | 24,924 | 17.3% | 12,330 | 17.6% | 26,919 | 18.0% | 108.0% | 13,241 | 18.4% | 107.4% | |
Others | 15,205 | 10.5% | 7,359 | 10.5% | 15,662 | 10.5% | 103.0% | 7,652 | 10.6% | 104.0% | |
Operating profit | 9,895 | 6.9% | 3,881 | 5.5% | 7,973 | 5.3% | 80.6% | 2,369 | 3.3% | 61.0% | |
Ordinary profit | 10,297 | 7.1% | 4,008 | 5.7% | 7,790 | 5.2% | 75.7% | 2,366 | 3.3% | 59.0% | |
Net income attributable to owners of the parent | 6,939 | 4.8% | 2,533 | 3.6% | 5,987 | 4.0% | 86.3% | 1,613 | 2.2% | 63.7% | |
EBITDA | 15,139 | 10.5% | 6,640 | 9.5% | 13,800 | 9.2% | 91.2% | 5,377 | 7.5% | 81.0% | |
Depreciation and amortization | 5,090 | 3.5% | 2,660 | 3.8% | 5,610 | 3.8% | 110.2% | 2,894 | 4.0% | 108.8% | |
Amortization of goodwill | 153 | 0.1% | 98 | 0.1% | 216 | 0.1% | 141.2% | 113 | 0.2% | 115.1% | |
(Note) We finalized the provisional accounting treatment for the business combination at the end of the consolidated third quarter of the previous fiscal year. Accordingly, the figures for the second quarter of the consolidated fiscal year ended February 2025 reflect
significant revisions to the initial allocation of acquisition cost resulting from the finalization of the provisional accounting treatment.
*: Rent & depreciation costs are the sum of Rent expenses, Lease expenses and Depreciation
Consolidated Income Statement
Adastria(Non-consolidated) Monthly Sales All Stores YoY
130.0%
125.0%
120.0%
115.0%
110.0%
105.0%
100.0%
95.0%
90.0%
売上 高実店舗
EC
2Q
Net Sales : 104.9% Physical Stores : 102.8% E-commerce : 111.6%
1Q
Net Sales : 104.8% Physical Stores : 103.8% E-commerce : 107.6%
Net Sales Physical Stores E-commerce
112.8%
107.4%
105.8%
99.0%
98.5%
98.4%
111.3%
108.4%
107.4%
111.6%
103.6%
100.9%
110.3%
102.6%
100.0%
113.6%
109.6%
108.4%
3月 4月 5月 6月 7月 8月
・Sales of summer items were strong due to ongoing hot weather and demand for summer vacation outings
・Sales of fall products increased toward the second half of the month
March
April
High temperatures, strong sales of spring and summer apparel
・Occasion items and new lifestyles items were popular
・20% points-back reward for members
・Sales of summer goods were sluggish due to cooler temperatures than last year
・Right outerwear items were popular
May
・Summer goods sold well due to favorable weather conditions
・20% points-back reward campaign for members
June
・Summer goods slowed, but remained firm with rising temperatures
・Strong sales of summer bottoms made from functional fabrics
July
・Sales concentrated on summer goods as temperatures remained high
・GLOBAL WORK and niko and ... performance declined year on year
August
Summary of FY2025/02 1H