More members, higher fees
Curves Holdings Co., Ltd. (TSE: 7085), the Tokyo-based operator and franchisor of the Curves women-only 30-minute fitness gyms in Japan, reported consolidated results for FY8/2026, the year from September 1, 2025 to August 31, 2026, on October 13, 2026 under Japanese GAAP. Net sales rose 15.5% to ¥43,387 million, operating profit 22.3% to ¥7,755 million and ordinary profit 16.8% to ¥7,573 million. Net profit attributable to owners of the parent rose 14.1% to ¥4,908 million, or ¥53.56 per share against ¥46.75. Every profit line reached a record.
The Curves chain in Japan grew by a net 17 gyms to 2,013, 84 of them company-run, and its membership rose by 32,000 to a record 895,000 on three recruitment campaigns, TV and web marketing and referrals. Fees for existing members were raised in April 2026 with little effect on the monthly cancellation rate. Member product sales also hit a record despite rising costs for its Curves Protein drink, and chain-wide sales, including franchisees, reached a record ¥93.4 billion. The group also runs Men's Curves and the Pint Up rehabilitation-style centres.
Balance sheet, dividend and outlook
Total assets rose 4.9% to ¥41,119 million and net assets 12.2% to ¥22,626 million, for an equity ratio of 54.9%. Operating cash flow was ¥7,206 million. The annual dividend is ¥30, against ¥17, made up of a ¥10 interim and a ¥20 year-end payment that includes a ¥10 commemorative dividend; the company plans ¥32 for FY8/2027.
For FY8/2027 it forecasts net sales of ¥46,000 million (+6.0%), operating profit of ¥8,700 million (+12.2%), ordinary profit of ¥8,600 million (+13.6%) and net profit of ¥5,455 million (+11.1%).
| Metric | FY8/2026 | FY8/2025 | Change |
|---|---|---|---|
| Net sales (¥ million) | 43,387 | 37,566 | +15.5% |
| Operating profit (¥ million) | 7,755 | 6,342 | +22.3% |
| Ordinary profit (¥ million) | 7,573 | 6,481 | +16.8% |
| Net profit attrib. to owners of parent (¥ million) | 4,908 | 4,303 | +14.1% |
| EPS (¥) | 53.56 | 46.75 | +14.6% |
| Total assets (¥ million) | 41,119 | 39,205 | +4.9% |
| Net assets (¥ million) | 22,626 | 20,160 | +12.2% |
| Equity ratio | 54.9% | 51.4% | +3.5 pt |
| FY8/2027 guidance — revenue (¥ million) | 46,000 | — | +6.0% |
| FY8/2027 guidance — operating profit (¥ million) | 8,700 | — | +12.2% |
| FY8/2027 guidance — ordinary profit (¥ million) | 8,600 | — | +13.6% |
| FY8/2027 guidance — net profit (¥ million) | 5,455 | — | +11.1% |
| Annual dividend per share (¥) | 30.00 | 17.00 | +76.5% |
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.