PAL GROUP Holdings CO (2726) Q2 2026 earnings summary

Executive summary

• H1 FY2026 net sales rose 15.6% YoY to ¥117,082m, while operating profit increased 19.4% to ¥14,095m and net profit attributable to owners of parent rose 19.8% to ¥9,186m.

• Growth was supported by strong 3COINS sales, Apparel and EC momentum, newly consolidated NOLLEY'S, influencer-driven sales and new product launches.

Financial highlights

• Gross profit was ¥66,874m, up 18.0% YoY; ordinary profit reached ¥14,069m, up 17.7%.

• H1 results exceeded plan: revenue was 103.2% of plan, operating profit 111.0%, ordinary profit 110.8% and net profit 113.0%.

• Consolidated SG&A rose 17.6% to ¥52,778m; the SG&A ratio increased 0.8 points to 45.1%, reflecting higher bonus accruals and personnel costs.

• Comprehensive income increased 19.9% YoY to ¥9,208m; basic earnings per share was ¥52.90 after the stock split.

Outlook and guidance

• FY2026 forecast remains unchanged: revenue ¥231.0bn, operating and ordinary profit ¥26.4bn each, and net profit attributable to owners of parent ¥16.85bn.

• Forecast growth is 11.2% for revenue, 11.6% for operating profit, 10.3% for ordinary profit and 42.2% for net profit; forecast gross margin is 56.2%.

• Full-year basic EPS is forecast at ¥97.03 post-split.

• Guidance assumes NOLLEY'S and other M&A contributions, recovery from the prior-year server disruption, stable FX and continued SG&A restraint.