Treasure Factory (3093) Q4 2025 earnings summary

Executive summary

• Net sales and operating profit grew over 20% year-over-year, reaching record highs for both metrics, with net sales at ¥42,207 million and operating profit at ¥4,035 million.

• Existing stores achieved 42 consecutive months of year-over-year sales growth, with a 107.9% YOY increase for the fiscal year.

• Opened 24 new stores, with strong sales at existing locations and robust growth in the reuse business, especially in apparel, fashion, and hobby-related items.

• E-commerce sales grew 26.0% year-over-year, now comprising 14.5% of consolidated sales.

• Growth was supported by favorable external conditions and successful internal measures, including improved inventory efficiency.

Financial highlights

• Net sales: ¥42,207 million (+22.5% YOY); Operating profit: ¥4,035 million (+20.5% YOY); Ordinary profit: ¥4,082 million (+20.4% YOY); Net income attributable to owners: ¥2,709 million (+20.9% YOY).

• Earnings per share: ¥115.63 (+20.5% YOY).

• Operating cash flows reached a record ¥2,819 million (+281.9% YOY); free cash flows increased by ¥1,840 million YOY.

• Gross profit ratio slightly declined to 59.1% (-1.5 pts YOY) due to higher sales of expensive items and changes in accounting.

• Dividend per share: ¥36.00 (including a ¥2.00 commemorative dividend); payout ratio: 31.1%.

Outlook and guidance

• FY2026 forecast: Net sales ¥46,252 million (+9.6% YOY), operating profit ¥4,420 million (+9.5% YOY), ordinary profit ¥4,440 million (+8.8% YOY), net income ¥3,008 million (+11.0% YOY), EPS ¥128.37.

• Dividend per share projected at ¥39 (+8.3% YOY), with a payout ratio target of 30% or higher.

• Plan to open 30–35 new stores in FY2026, with continued overseas expansion in Thailand and Taiwan, and further growth in Kanto, Kansai, Tokai, and Kyushu.

• Non-consolidated existing store sales expected to rise 2% year-over-year.