Komehyo Holdings Co., Ltd. (TSE: 2780), Japan's largest "reuse" (second-hand) retailer of luxury brand goods — handbags, watches, jewellery and kimono — reported full-year results on May 14, 2026 for the fiscal year ended March 2026. Consolidated revenue jumped 39.4% year-on-year to ¥221,707 million, operating profit rose 50.4% to ¥9,288 million, ordinary profit gained 40.8% to ¥8,514 million, and net profit attributable to owners climbed 14.9% to ¥5,488 million, lifting EPS to ¥499.97 from ¥435.94.
Reuse boom and inbound demand drive growth
The strong top-line growth reflects buoyant demand for pre-owned luxury goods at home and from inbound tourists, rising second-hand prices, and Komehyo's expanding store and purchasing network. The reuse market continues to benefit from sustainability trends and the appeal of value pricing, with both buying (from consumers) and selling sides growing.
Higher dividend; double-digit growth guided
Total assets stood at ¥109,181 million with net assets of ¥37,827 million (a 34.2% equity ratio) and book value per share of ¥3,399.21. Komehyo raised its annual dividend to ¥106.00 per share from ¥104.00 and plans a further increase to ¥108.00 for FY2027.
For the year ending March 2027 the company guided revenue of ¥252,000 million (+13.7%), operating profit of ¥10,800 million (+16.3%), ordinary profit of ¥9,680 million (+13.7%) and net profit of ¥5,850 million (+6.6%), equivalent to EPS of ¥532.34.
| Metric | FY3/2026 | FY3/2025 | YoY |
|---|---|---|---|
| Revenue (¥m) | 221,707 | 158,994 | +39.4% |
| Operating profit (¥m) | 9,288 | 6,176 | +50.4% |
| Ordinary profit (¥m) | 8,514 | 6,046 | +40.8% |
| Net profit (¥m) | 5,488 | 4,777 | +14.9% |
| EPS (¥) | 499.97 | 435.94 | +14.7% |
| Equity ratio | 34.2% | 37.0% | — |
| Annual dividend (¥) | 106.00 | 104.00 | +1.9% |
| FY2027 guidance — revenue (¥m) | 252,000 | — | +13.7% |
| FY2027 guidance — net profit (¥m) | 5,850 | — | +6.6% |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.