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Workman (7564) investor relations material
Workman Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary10 Nov, 2025
Executive summary
Achieved record-high profit in Q2 FY2026, with both revenue and profit increasing for the first time in four years, driven by robust summer apparel sales and successful product rollouts for off-peak seasons.
Operating revenue for the six months ended September 30, 2025, rose 15.7% year-over-year to ¥76,137 million.
Operating profit increased 21.1% year-over-year to ¥14,444 million, and net income grew 22.5% to ¥9,227 million.
Net sales at all chain stores reached ¥101,574 million, up 11.4% year-over-year.
Store network expanded to 1,071 locations, with new store openings and renovations proceeding as planned.
Financial highlights
Sales at all chain stores rose 11.4% year-over-year to ¥101.6 billion, exceeding plan by 5.4%.
Operating profit increased 16.6% year-over-year to ¥14.98 billion; net income up 22.5% to ¥9.23 billion.
Ordinary profit for the period was ¥14,874 million, up 22.1% year-over-year.
EPS reached ¥113.06, up from ¥92.28 in the previous year.
Gross profit margin at franchise stores improved by 0.3 points due to higher royalties.
Outlook and guidance
Full-year forecast revised upward: sales at all chain stores expected to reach ¥201.8 billion (+10.2% YoY), operating profit ¥28.2 billion (+15.6% YoY), and net income ¥19.7 billion (+16.6% YoY).
Full-year operating revenue is forecast at ¥155,000 million, a 13.2% year-over-year increase.
Net income per share for the full year is forecast at ¥241.39.
Plans to open 48 new stores, aiming for a 1,500-store network, and renovate 100–200 stores per year.
Focus on expanding Colors stores and reinforcing workwear product lines.
What improved operating profit margin?
Explain merchandise inventory increase.
Reasons for revised full-year forecast?
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Q3 20269 Feb, 2026
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Frequently asked questions
Workman Co. Ltd. is a retail company based in Japan, focusing on a niche market of work-related apparel and accessories. Its product range encompasses a wide variety of items aimed at meeting the needs of workers across different industries. This includes both men's and women's workwear clothing, safety shoes, boots, rain suits, fleece, and a variety of safety equipment like gloves, helmets, and masks. Workman extends its offerings to casual wear, family clothing, and footwear, catering not only to professional requirements but also to everyday wear. The company operates a chain of specialty retail stores throughout Japan, employing a dual approach of franchise stores and directly-operated outlets to distribute its products. The company is headquartered in Tokyo, Japan, and its shares are listed on the Tokyo Stock Exchange.
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