Retail Partners (8167) Q4 2026 earnings summary

Executive summary

• Record operating revenue of ¥278,197m, up 4.3% YoY; growth reflected higher average spend, new store openings and Nagano’s consolidation from Q3.

• Operating income fell 5.2% to ¥6,468m, ordinary income fell 5.5% to ¥7,557m, and net income fell 1.7% to ¥5,138m as personnel and operating costs increased.

• Gross profit and operating gross profit reached records; the third medium-term plan prioritizes existing businesses, M&A, digital transformation and human capital.

Financial highlights

• Sales were ¥268,295m, up ¥11,188m; gross profit was ¥64,214m, up ¥2,886m, while SG&A increased ¥3,508m.

• Comprehensive income rose 78.6% to ¥8.90bn, mainly from securities valuation gains; total assets were ¥136.2bn and net assets ¥91.7bn.

• Cash and equivalents ended at ¥19,545m, up ¥799m; operating, investing and financing cash flows were ¥9,631m, -¥6,638m and -¥2,194m.

Outlook and guidance

• FY2027 forecast: revenue ¥288.5bn (+3.7%), operating income ¥6.8bn (+5.1%), ordinary income ¥7.7bn (+1.9%) and net income ¥5.35bn (+4.1%).

• Revenue drivers include Nagano’s full-year contribution, flagship-store investment, stronger PB and original products, and expanded digital and omnichannel sales.

• DX-led productivity gains, low-cost operations and the non-recurrence of one-time M&A acquisition costs are expected to support profitability.

• FY2027 ordinary-income guidance remains below the ¥9.8bn medium-term plan target, reflecting lower-than-planned M&A contributions and inflation and labor costs.