TRIAL HoldingsTRIAL Holdings, Inc.141A東証グロース小売業FY ending Jun 2026, consolidated, J-GAAP

TRIAL Holdings FY ending Jun 2026 results

About 100% of TRIAL Holdings's sales come from Distribution and retail, with Other and Retail AI making up much of the rest.

Out of every ¥100 of sales, about ¥2 is left as operating profit.

Revenue changed +67.6% from the prior year, operating profit +43.9%.

Revenue and profit pattern

Revenue and profit upRevenue grew faster

Revenue +67.6% · profit +43.9%, calculated from disclosed figures.

Operating leverage: 0.65× (profit growth ÷ revenue growth)

What changed from last year

FY ending Jun 2025 → FY ending Jun 2026

Revenue: +67.6%¥803.8B → ¥1.35T
Gross profit: +94.3%¥164.8B → ¥320.3B
Operating income: +43.9%¥21.1B → ¥30.4B
Net income attributable to owners: -70.0%¥11.8B → ¥3.52B
Operating cash flow: Back to profit-¥4.45B → ¥92.1B
Free cash flow: Back to profit-¥40B → ¥45B

Results at a glance

Revenue for the FY ending Jun 2026 was ¥1.35T, up +67.6% from ¥803.8B a year earlier.
Operating income grew +43.9% from ¥21.1B to ¥30.4B, yet net income attributable to owners fell -70.0% from ¥11.8B to ¥3.52B.
Operating cash flow swung from -¥4.45B to a positive ¥92.1B, and free cash flow turned positive at ¥45B.

What drove the change

The company bought all shares of Seiyu in July 2025, greatly expanding its store network, mainly around Tokyo
Trial kept opening new stores and pushed ready-made meals and private-brand products
Each chain began selling the other's products, such as Trial's ready-made meals in Seiyu stores

Things to watch

The Seiyu deal added a large amount of goodwill, which could be written down if the integration falls short
The acquisition was funded with heavy borrowing, so higher interest rates would raise interest costs
Labor shortages or rising hourly wages could push up costs and slow store openings

Annual Securities Report, 12th fiscal year (Jul 2025–Jun 2026) / Management's analysis of financial position, operating results and cash flows · Annual Securities Report, 12th fiscal year (Jul 2025–Jun 2026) / Business risks

Where the money goes

FY ending Jun 2025 → FY ending Jun 2026

Where ¥100 of sales goes

For every ¥100 TRIAL Holdings sells, how much goes where, and how much is kept.

FY ending Jun 2026

Cost of sales: ¥76
SG&A: ¥23
Other costs: ¥1
Operating profit: ¥2
Net profit kept: ¥0

Annual margin trends

Gross margin23.8%

Operating margin2.3%

Net margin0.3%

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Jun 2026

Distribution and retail¥1.34T
100%
Op. margin 2.6%Industry: Supermarkets
Other¥2.95B
0%
Op. margin 31.0%
Retail AI¥918M
0%
Op. margin 71.6%Industry: Software & SaaS

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (3)

EDINET (FSA Japan)
有価証券報告書－第12期(2025/07/01－2026/06/30)
ID S100Z3TN2026-09-24Open
EDINET (FSA Japan)
有価証券報告書－第11期(2024/07/01－2025/06/30)
ID S100WRQT2025-09-26Open
EDINET (FSA Japan)
有価証券報告書－第10期(2023/07/01－2024/06/30)
ID S100UG642024-09-27Open

Extracted from XBRL: 52 / Derived from other figures: 1

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