TOKYO BASE Q1 Operating Profit Rises 10% as Revenue Climbs 24% to ¥6.1 Billion

TOKYO BASE Co., Ltd. (TSE: 3415) reported consolidated results for the first quarter of the fiscal year ending January 2027 (FY1/2027, covering February 1 to April 30, 2026) under Japanese GAAP. Revenue rose 24.1% year-on-year to ¥6,134 million, operating profit climbed 10.1% to ¥415 million, ordinary profit surged 89.1% to ¥480 million, and net profit attributable to owners of the parent rose 23.7% to ¥235 million from ¥189 million. Basic earnings per share came in at ¥5.35 versus ¥4.37 a year earlier. The result marks a strong start to the year for the Tokyo-based apparel retailer.

Made-in-Japan demand powers a 24% revenue jump

TOKYO BASE operates the STUDIOUS, UNITED TOKYO and PUBLIC TOKYO brands across physical stores and e-commerce, with a distinctive positioning around domestically made ("Made in Japan") fashion and a growing overseas footprint in China. The 24.1% top-line gain reflects robust demand across both its physical retail network and its e-commerce channel, the engines behind the quarter's outperformance versus the same period last year.

Ordinary profit nearly doubles on non-operating items

While operating profit grew a solid 10.1% to ¥415 million, ordinary profit advanced far faster — up 89.1% to ¥480 million from ¥253 million — helped by favorable non-operating items below the operating line. Net profit attributable to owners of the parent rose 23.7% to ¥235 million, and comprehensive income jumped 127.0% to ¥309 million, a sharper increase that further underscores the quarter's momentum.

Balance sheet

At the end of the first quarter, total assets stood at ¥16,611 million and net assets at ¥6,313 million, leaving an equity ratio of 37.9%. The capital structure remains a function of the retailer's store network and inventory base as it continues to scale its Made-in-Japan brands.

Full-year guidance and dividend lifted to ¥7.00

For the full FY1/2027, management guides revenue of ¥28,000 million (+17.4%), operating profit of ¥2,500 million (+26.8%), ordinary profit of ¥2,200 million (+16.4%), and net profit attributable to owners of ¥1,500 million (+29.9%), with EPS of ¥34.12. The first quarter therefore represents roughly the early portion of a year management expects to deliver double-digit revenue growth and a sharper profit advance. TOKYO BASE also lifted its annual dividend forecast to ¥7.00 per share (¥0 interim + ¥7.00 year-end) from ¥6.00 in FY1/2026 — a 16.7% increase that signals confidence in the full-year trajectory.

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