Bellpark Co., Ltd.TSE: 9441

26.1Q Results of Operations

· Issued by Bellpark Co., Ltd.

Results of Operations

Q1 FY2026 (January-December 2026)

May 12, 2026

Bell-Park Co., Ltd.



TSE Standard / Stock code: 9441

© Bell-Park Co.,Ltd. All rights reserved



(million yen)

2025 1Q

2026 1Q YoY change

Net sales

34,250

36,215

+1,965

(Comp.)

(100.0%)

(100.0%)

+5.7%

Operating income

2,455

2,732

+276

(7.2%)

(7.5%)

+11.3%

Ordinary income

2,523

2,809

+285

(7.4%)

(7.8%)

+11.3%

Profit attributable to owners of parent

1,720

(5.0%)

1,910

(5.3%)

+189

+11.0%

Statement of Income

1Q Accounting Period



Sales channels Topics

Impact on net sales (YoY change)

Impact on operating income (YoY change)

Carrier shops



Expanding the customer base expected to remain long-term users

  • Promoting bundled sales of mobile devices (with service contract), fiber-optic lines, and credit cards

    By strengthening bundled sales, the revenue per customer is expected to increase and the churn rate is expected to decline

    Continuing to hold sales promotion events

  • Total number of mobile phones sold decreased, mainly due to a decline in SIM-only contracts

    New sales of mobile devices (with service contract) and

    ads/sales promotion expenses increased

    Increase in recurring revenue

  • Number of monthly-charge shop smartphone support members steadily increased



Corporate solutions

Sales growth

  • A larger salesforce expanded the sales structure, resulting in an increase in the number of mobile phones sold

  • PC sales decreased compared with 2025, when demand for device replacements was high

  • Recurring revenue increased from the accumulation of sales of MDM and

other subscription-based products

(Due to decline in PC sales)

© Bell-Park Co.,Ltd. All rights reserved

1Q Sales Channel Topics

1Q Accounting Period



3

2026 1Q Progress

(million yen)

Full-year

Full-year

Full-year

forecast:

forecast:

forecast:

120,000

5,000

3,300

[For reference] 2025 1Q Progress

Full-year

results:

129,301

Full-year

results:

5,880

Full-year

results:

4,128

Net sales

Operating

income

Profit attributable

to owners of parent

Progress ratio: 26.5%

Progress ratio: 41.7%

Progress ratio: 41.8%



(First-half: 62,000) (First-half: 2,700) (First-half: 1,800)

Progress ratio: 30.2%

Progress ratio: 54.6%

Progress ratio: 57.9%



Net sales Operating

income

Profit attributable to owners of parent

2026 Progress vs. Full-Year Consolidated Forecasts





Fundamental policy regarding distribution of earnings

Consolidated payout ratio

at least 30%

2026 dividend forecast: 102 yen

FY2023

(million yen)

Total shareholder return ratio

Purchase of

treasury stock Total dividends

51 yen

Forecast

Year-end:

20.5 yen

28 yen

Dividends per Share

FY2022

Forecast

FY2024

FY2025

FY2026

FY2022

FY2023

FY2024

FY2025

FY2026

Shareholder

Returns

Payout ratio: 30.2%

102.0 yen 102.0 yen

Year-end:

Year-end:

65 yen

Year-end:

21.5 yen

2Q-end:

21.5 yen

2Q-end:

20.5 yen

Year-end:

2Q-end: 51 yen

2Q-end: 22 yen

2Q-end: 37 yen

50.0 yen

41.0 yen

43.0 yen



Dividends and Shareholder Returns



Appendix



Profile of Bell-Park

Name : Bell-Park Co., Ltd.

Information and communication device sales and service business

Capital

(as of Mar. 31, 2026)

1,148 million yen

Business

No. of carrier shops (as of Mar. 31, 2026)

Headquarters Hirakawacho Center Bldg., 1-4-12

Total: 318 stores (56 stores)

Hirakawa-cho, Chiyoda-ku, Tokyo

Founded February 2, 1993, 34th fiscal year

No. of employees (consolidated)

(as of Mar. 31, 2026)

Consolidated subsidiary

2,430

(full time: 2,077; temporary: 353)

Bell-Park Next Co., Ltd.

287 (54) SoftBank Shops

16 (2) Y!mobile Shops

9 Docomo Shops

6 au Shops

Fiscal year From January 1 to December 31

*Franchised stores in parentheses



(million yen)

2024 1Q 2025 1Q 2026 1Q

Net sales

30,590

34,250

36,215

Gross profit

7,208

8,187

9,395

Personnel, etc.

3,195

3,156

3,417

Rent

730

704

690

Ads/sales promotion

509

880

1,540

Others

931

990

1,014

SG&A expenses

5,366

5,732

6,663

Operating income

1,841

2,455

2,732

Ordinary income

1,866

2,523

2,809

Profit attributable to owners of parent

1,405

1,720

1,910

Quarterly Financial Summary



(million yen)

2025 1Q 2026 1Q

YoY change

Net sales

34,250

36,215

+1,965

+5.7%

Gross profit

8,187

9,395

+1,207

+14.7%

Personnel, etc.

3,156

3,417

+261

+8.3%

Rent

704

690

-13

-2.0%

Ads/sales promotion

880

1,540

+659

+74.9%

Others

990

1,014

+24

+2.4%

SG&A expenses

5,732

6,663

+930

+16.2%

Operating income

2,455

2,732

+276

+11.3%

Ordinary income

2,523

2,809

+285

+11.3%

Profit attributable to owners of parent

1,720

1,910

+189

+11.0%

Financial Results: YoY Comparison



Number of Carrier Shops

(store

s)

SoftBank Shop Y!mobile Shop Docomo Shop au Shop

End of Dec. 2022 End of Dec. 2023 End of Dec. 2024 End of Dec. 2025 End of Mar. 2026



(persons)

Full-time employees

Temporary employees

End of Dec. 2022 End of Dec. 2023 End of Dec. 2024 End of Dec. 2025 End of Mar. 2026

Number of Employees



Quarterly Sales Volume

Sales to new subscribers

Sales of Replacement mobile phones

Phone-only sales

(10 thousand units)

2024 2025 2026



(million yen)

End of Dec. 2025

End of Mar. 2026

Change

Current assets

34,947

39,880

+4,933

Non-current assets

8,650

8,649

-0

Total assets

43,597

48,529

+4,932

Current liabilities

15,901

19,730

+3,829

Non-current liabilities

745

739

-5

Total liabilities

16,646

20,470

+3,823

Net assets

26,950

28,059

+1,108

Financial Position (B/S)



Key Issues (1) Environmental Responsibility

  • Efforts to reduce greenhouse gas emissions

(Installation of internal power generation, use of energy from renewable sources, reduction of energy consumption, recycling used mobile phones and PCs, environmentally responsible vehicles, green procurement of office and other supplies, and paperless operation/reduction of paper use)

Key Issues (2) Customer's Smile

  • Strengthening consulting skills

  • Customer support

  • Improving customer satisfaction

  • Voluntary consumer protection activities



Key Issues (3) Workforce Motivation and Growt

  • Human resources development

  • A pleasant and productive workplace environment

  • Diversity, equity and inclusion

  • Health management

Key Issues (4) Social Contribution Activities

  • Eliminating the digital divide

  • Using business activities to solve social issues

  • Contributing to community

(Activities to raise awareness of and prevent damage by fraud using phone calls, child safety stores, emergency recharging service, work experience events for children, community clean-up program and e-Net Caravan)



h



© Bell-Park Co.,Ltd. All rights reserved 14

Activities for a Sustainable Society



All plans, strategies and financial forecasts that are not based on historical facts are forward-looking statements. Such statements are based on the judgment of the Company in accordance with information available when these materials were prepared. Actual results may differ significantly from these statements due to changes in the operating environment and many other factors.



© Bell-Park Co.,Ltd. All rights reserved 15

Forward-looking Statements



Earlier from Bellpark

All Bellpark news releases