Idom Inc. TSE:7599

IDOM : 2nd Quarter Results for Fiscal Year Ending February 28, 2026

Published October 14, 2025 at 6:57 a.m. UTC

Source: MarketScreener

FY2026 Q2

First Half Financial Results for the Fiscal Year Ending February 28, 2026

October 14, 2025

TSE Prime 7599

IDOM Inc.

Contents

FY2026 H1 Financial Results 4
FY2026 H1 Strategic Initiatives 15
Appendix 27
Appendix: Supplementary Performance and Financial Data 48

FY2026 H1 Financial Results

FY2026 H1 Highlights
Consolidated
- Decreased 16% YoY, reflecting the delayed response to the downturn in the used car market that began in the previous fiscal year

Operating profit

Operating

profit

8.5 billion yen

Down 16% YoY

Underperformed due to the disposal of long-term inventories carried over from the previous fiscal year
Recovered to the target level in August alone

103*

Down 6% YoY

Gross profit

per retail unit

Gross profit per retail unit

Retail sales

Recorded a significant increase of 11% YoY
Set a new first-half record for retail units sold

84,190 units

Up 11% YoY

Retail units

sold

Retail units sold

Retail sales

*Indexed to 2023 (Base year =100) 5

Highlights

Trend in Operating Profit for FY2026

(billion yen) (billion yen)

H1 results (YoY)

Quarterly trend

Australian subsidiary whose shares were transferred

Consolidated (excluding Australia)

1.3

7.3

8.5

FY2023

FY2024

FY2025

FY2026

10.1

7.1

4.6

2025 Q2

2025 Q3

2025 Q4

2026 Q1

2026 Q2

5.0

5.7

3.9

4.8

Operating profit

Operating

profit margin

3.8% 3.5% 4.0% 3.1%

4.5% 3.8% 4.2% 2.8% 3.4%

17.9%

(11.7%) (2.9%) (19.3%)

QoQ change

YoY change

- (17.6%) 42.1% (15.7％)

(thousand yen)

1,200

Trend in the Used Car Market

Market trend

Average market price of vehicles purchased by IDOM

Previous fiscal year

1,000

800

600

400

200

2017/2 2018/2 2019/2 2020/2 2021/2 2022/2 2023/2 2024/2 2025/2 2026/2

Note: IDOM research

The used car market rebounded following a sharp decline that began at the end of FY2025.

Prices have continued to rise since September, indicating a sustained recovery trend.

Highlights

Trend in Gross Profit Per Retail Unit

108

114

113

120

108

113

120

108

100

Target gross

profit per retail unit for FY2026

140

120

100

2023

2024

2025

2026

Note: Index based on full-year gross profit per retail unit in FY2023 (set at 100)

Results fell short of our target level due to the lingering effects of long-term inventories disposal. Performance improved steadily from March to August, with results for August alone exceeding the initial target set at the start of the fiscal year.

Note: "2026" indicates the fiscal year ending February 28, 2026. 8

Highlights

Major KPIs for FY2026 H1

		FY2024 H1	FY2025 H1	FY2026 H1	Change
Number of stores	Opening of large stores (stores)	0	1	8	7
Retail	Retail units sold (thousand units)	73.8	75.9	84.2	8.3
Retail	Gross profit per retail unit (with 2023 as the base year = 100)	100	110	103	-
Wholesale	Wholesale units sold (thousand units)	62.1	76.7	74.8	(1.9)
Wholesale	Gross profit per wholesale unit (with 2023 as the base year = 100)	100	120	100	-

Store openings proceeded as planned, with retail units sold hitting a record high.

Consolidated

Consolidated Statement of Income for FY2026 H1

(billion yen)	FY2025	FY2026	Ratio to net sales	Change	Change (%)
Net sales	249.7	273.1	100.0%	23.4	9.4%
Gross profit	44.3	44.8	16.4%	0.5	1.2%
Selling, general and administrative expenses	34.2	36.3	13.3%	2.1	6.2%
Operating profit	10.1	8.5	3.1%	(1.6)	(15.7%)
Ordinary profit	9.6	7.8	2.8%	(1.8)	(19.2%)
Profit attributable to owners of parent	6.5	5.2	1.9%	(1.3)	(20.4%)

EBITDA*1	12.5	10.4	3.8%	(2.1)	(16.9%)

*1 EBITDA = Operating profit + Depreciation

Consolidated

FY2026 H1 Operating Profit - YoY Change Analysis

(billion yen)

Non-consolidated factors: Down 2.4 billion yen

10.1

1.3

0.2

-2.1

-0.8

0.8

8.5

-1.0

FY2025 H1 Retail sales Wholesale sales Personnel and Cost relating to

operating profit hiring expenses the opening of large stores

SG&A expenses

and other expenses

Subsidiaries FY2026 H1

operating profit

Retail sales increased 1.3 billion yen due to an increase in retail units sold.
Wholesale sales decreased

2.1 billion yen, reflecting lower gross profit per unit under soft used car market conditions.

SG&A expenses increased in line with growth in store count.
IDOM CaaS Technology, one of our subsidiaries, turned profitable.

Non-consolidated

FY2026 H1 SG&A Expenses - YoY Change Analysis

➊ Average headcount increased by 247, while unit price decreased by approx. 3,000 yen.

❷ Advertising expenses decreased due to improved business efficiency.

❸ Land rent increased due to the year-on-year addition of 23 large stores.

➍ Allowance for doubtful accounts increased, reflecting higher fixtures and transportation expenses associated with business expansion, as well as increased sales in the in-house loan business, Jisharon.

(billion yen)

35.0

34.5

34.0

33.5

33.0

32.5

32.0

31.5

31.0

30.5

30.0

0.9 ➍

34.1

0.8 ❸

32.5

❶

-0.1

0.2

-0.1

❷

-0.1

FY2025 H1 SG&A

expenses

Personnel expenses

Commission expenses

Advertising expenses

Outsourcing expenses

Land rent Other SG&A

expenses

FY2026 H1 SG&A

expenses

Consolidated

Consolidated balance sheet

(as of February 28, 2025)

Consolidated balance sheet

(as of August 31, 2025)

Assets ¥220.0 bn

Liabilities ¥139.2 bn

Assets ¥243.6 bn

Liabilities ¥159.0 bn

Net assets ¥80.8 bn

Net assets ¥84.4 bn

¥80.8 bn (Equity ratio: 36%)

Other

¥59.9 bn

Interest-bearing debt

¥79.3 bn

¥84.4 bn (Equity ratio: 34%)

Other

¥67.4 bn

Interest-bearing debt

¥91.6 bn

Summary of the Consolidated Balance Sheet

Cash and

deposits

¥15.4 bn

Accounts

receivable

¥27.0 bn

Inventories

¥114.6 bn

Property, plant

and equipment

¥39.1 bn

Other

¥23.9 bn

Cash and

deposits

¥28.0 bn

Accounts

receivable

¥32.5 bn

Inventories

¥109.6 bn

Property, plant

and equipment

¥46.6 bn

Other

¥32.9 bn

Total assets increased by 23.5 billion
yen to 243.6 billion yen.
Accounts receivable increased by

5.5 billion yen, mainly due to an increase in installment sales.

Inventories decreased mainly due to an 8.0-billion-yen reduction in unit volume, partially offset by a 3.0-billion-yen increase resulting from higher unit prices amid a market uptrend. We remain focused on inventory optimization while continuing to open large stores.
Interest-bearing debt increased by

12.3 billion yen on a gross basis but decreased by 0.3 billion yen on a net basis. We also restructured short-term borrowings into long-term ones to enhance financial stability.

The equity ratio was 34% on a consolidated basis.

Consolidated

Analysis of Changes in Cash Flows

(billion yen)

20.0

Operating cash flow

Up ¥7.8 bn

Investment cash flow

Down ¥5.8 bn

Free cash flow

Up ¥2.0 bn

18.0

16.0

14.0

12.0

10.0

8.0

6.0

4.0

2.0

0.0

12.1

5.0 ❶ ❷

-9.3

❸

2.0

-5.8

Pre-inventory buildup

and

pre-trade receivables cash inflow

Change in inventories

Change in

trade receivables

Free cash flow

Cash flows from investing activities

❶ Increased by 5.0 billion yen due to a decrease in inventory units

❷ Decreased by 9.3 billion yen due to an increase in installment receivables. To improve free cash flow, we plan to liquidate installment receivables through securitization in FY2026 Q3.

❸ Invested 5.8 billion yen in opening large stores and installing maintenance equipment at maintenance shops, etc.

As a result, free cash flow increased by 2.0 billion yen.

FY2026 Strategic Initiatives

Large stores
Newly Opened Stores
[Large stores opened in Q2]
・Okazaki Store (June 2025)
・Hirakata Store (July 2025)
・Ibaraki Store (August 2025)
・Moriyama Store (August 2025)
・Hiroshima Interchange Store (August 2025)
・Hitachi Seaside Park-mae Store (August 2025)

Recent store openings

8/15 stores

Full-year progress

77 stores

Number of large stores

(as of August 31, 2025)

Moriyama Store (opened in August 2025)

Nagoya City, Aichi Prefecture

Workshops

[Maintenance shops opened in Q2]

・Okazaki Maintenance Shop (June 2025)

・Hirakata Maintenance Shop (July 2025)

Recent shop openings

Newly Opened Maintenance Shops

42 shops

incl. 28 designated maintenance shops

Number of maintenance shops

(as of August 31, 2025)

3/9 shops

Full-year progress

Okazaki Maintenance Shop (opened in June 2025)

Okazaki City, Aichi Prefecture

Large stores

FY2026 Store Opening Plan

(stores)

Large stores

Maintenance shops

Q1 Q2 Q3 Q4

Preparations for second-half store openings are progressing smoothly, keeping us on track to achieve our full-year target of 15 new locations.

Large stores

Trend in the Number of Large Stores and Retail Units

(stores) (unit volume)

150

Total number of stores Retail units

100,000

100

50,000

0 0

FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 FY2027

Accelerating large store openings as the core driver of our retail business, aiming to reach 100 stores in FY2027

Large stores

Large Stores as the Key Driver of Stable Growth

Trend in net sales by business category

(billion yen)

Wholesale

Other retail

Large store retail

500

400

300

200

100

FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025

Net sales are growing steadily in line with the opening of large stores.

Retail growth is reinforcing our path toward sustained expansion.

Large stores

Thinking Behind Our Large Store-driven Growth Strategy

Large stores (since Medium-term Business Plan)

Primarily focused on used car purchase and sale

Existing Gulliver

Sell car

Maintenance

& repair

Vehicle

inspection

Purchase

Maintenance

Vehicle inspection

Maintenance

Vehicle

inspection

Repair

Sell

Purchase car

Purchase Sell

Large stores with on-site maintenance shops have significantly increased customer touchpoints.

This model leads to an increase in repeat customers over the long 5-7 year used car replacement cycle.

Build lasting relationship with customers

Earnings forecast

H2 Forecast: Gross Profit Per Retail Unit

130

120

110

100

FY2025 FY2026 120

Gross profit per unit had already recovered to

last year's level by August

108

113

120

Target gross profit per retail unit for FY2026

Q1 Q2 Q3 Q4

Note: Index based on full-year gross profit per retail unit in FY2023 (set at 100)

Disposal of long-term inventories continues to progress steadily, with gross profit per retail unit exceeding the target level in August. Looking ahead to the second half, we remain committed to enhancing inventory control and operations.

Earnings forecast

Revised FY2026 Earnings Forecast - Key Assumptions

		H1 forecast	H1 results	H1 progress	H2	Revision to full- year forecast
Number of stores	Opening of large stores (stores)	8	8	As forecasted	7	15
Retail	Retail units sold (thousand units)	83.4	84.2	As forecasted	83.1	167.3
Retail	Gross profit per retail unit (with 2023 as the base year = 100)	112	103	Improvement needed	118	111
Wholesale	Wholesale units sold (thousand units)	77.2	74.8	As forecasted	75.2	145.0
Wholesale	Gross profit per wholesale unit (with 2023 as the base year = 100)	120	100	Improvement needed	118	108
Consolidated P/L	Gross profit (¥ bn)	46.4	44.8	Improvement needed	50.3	95.1
	Selling, general and administrative expenses (¥ bn)	34.5	36.3	Improvement needed	38.7	75.0
	Operating profit (¥ bn)	11.9	8.5	Improvement needed	11.6	20.1

Earnings

forecast

Revised FY2026 Consolidated Earnings Forecast

(billion yen)	FY2025 results	FY2026	Ratio to net sales	Change	Change (%)
Net sales	496.7	546.8	100.0%	50.1	10.1%
Gross profit	88.7	95.1	17.4%	6.4	7.2%
Selling, general and administrative expenses	68.8	75.0	13.7%	6.2	9.0%
Operating profit	19.9	20.1	3.7%	0.2	1.0%
Ordinary profit	19.1	18.9	3.5%	(0.2)	(1.0%)
Profit attributable to owners of parent	13.4	12.5	2.3%	(0.9)	(6.7%)

Dividend policy

Dividend Policy

Performance-linked dividend

Dividend policy

Dividends for the current period are determined by calculating 30% of consolidated profit attributable to owners of parent for the period.

(revised from the end of FY2023)

Method for determining dividends

Dividend per share

	Q2 end	Year end		Total

FY2025 results	19.38 yen	20.80 yen	40.18 yen

FY2026 forecasts	15.43 yen	21.92 yen		37.35 yen

Message from the President

The video of the earnings presentation will be available on our IR website on and after Wednesday, October 15. (Japanese only)

Appendix

Consolidated

FY2026: Quarterly P/L Comparison

(billion yen)	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2	QoQ change
Net sales	124.6	125.1	130.9	116.2	138.5	134.6	(3.9)
Gross profit	21.5	22.8	22.3	22.1	22.3	22.6	0.3
Selling, general and administrative expenses	17.1	17.1	17.3	17.3	18.4	18.0	(0.4)
Operating profit	4.4	5.6	5.0	4.8	3.9	4.6	0.7
Ordinary profit	4.3	5.3	4.9	4.5	3.6	4.2	0.6
Profit attributable to owners of parent	2.9	3.6	3.3	3.6	2.3	2.9	0.6

Medium-term Business Plan

140 136 144 149

370 400 410 450

410 to 440

thousand yen

Gross profit

per retail unit

170 to 190

thousand units

Upward Revision of Medium-term Business Plan (April 2024)

Progress

2022 2023 2024 2025 2026 2027

New FY2027 target

18.5 18.7

16.1

19.8

P/L

Operating profit

30.0 billion yen

Business

Retail units sold by directly managed stores

9.8% 9.9%

8.3% 8.1%

Investment efficiency

ROIC

8% or more

3.8 2.0 1.3

-28.5

Cash flows

Free cash flow

Positive in FY2027

Target operating profit was revised upward from 21.0 to 30.0 billion yen.

Medium-term Business Plan

Toward Achieving the Medium-term Business Plan

FY2027

Continuous development of incidental services

Maintain gross profit per retail unit

FY2027

100 large stores

Increase retail units sold

Maintain gross profit per retail unit at the FY2024 H2 level while accelerating store openings to achieve a target that exceeds the initial plan, driven by an increase in retail units sold.

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