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Yamada HoldingsYAMADA HOLDINGS CO.,LTD.9831東証プライム小売業FY ending Mar 2026, consolidated, J-GAAP

Yamada Holdings FY ending Mar 2026 results

About 78% of Yamada Holdings's sales come from Electrical Business, with Housing Business and Environmental Business making up much of the rest.

Out of every ¥100 of sales, about ¥1 is left as operating profit.

Revenue changed +3.9% from the prior year, operating profit -62.2%.

Revenue and profit pattern

Revenue up, profit downRevenue grew faster

Revenue +3.9% · profit -62.2%, calculated from disclosed figures.

Operating leverage: -16.16× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue
+3.9%¥1.63T → ¥1.69T
Gross profit
-3.4%¥457.4B → ¥441.6B
Operating income
-62.2%¥42.8B → ¥16.2B
Net income attributable to owners
-45.1%¥26.9B → ¥14.8B
Operating cash flow
-3.4%¥51.6B → ¥49.8B
Free cash flow
-51.2%¥10.3B → ¥5.04B

Results at a glance

  • Revenue for the FY ending Mar 2026 was ¥1.69T, up +3.9% from ¥1.63T.
  • Profit went the other way: gross profit slipped -3.4% to ¥441.6B, and operating income dropped -62.2% from ¥42.8B to ¥16.2B.
  • Net income attributable to owners fell -45.1% to ¥14.8B, and free cash flow fell -51.2% to ¥5.04B.

What drove the change

  • PCs and mobile phones sold strongly, and air conditioners did well on demand for energy-saving models and early replacements. In housing, delays in building and handing over homes caused by revised building laws were largely made up by year-end.
  • The company cleared out inventory at discounted prices near year-end, which cut gross profit.
  • In the Electrical Business, the cost of a stronger points program and lost sales from closing large stores weighed on profit. Rent, depreciation and staff costs for new large stores also pushed up SG&A.

Things to watch

  • Competition in electronics retail is fierce; if rivals cut prices, Yamada may have to follow.
  • Seasonal goods such as air conditioners and heaters depend on the weather, so a cool summer or mild winter can hurt sales.
  • The housing business is sensitive to interest rates, land prices and housing policy, and orders could fall sharply.

Annual Securities Report, 49th fiscal period (Apr 2025 – Mar 2026) / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual Securities Report, 49th fiscal period (Apr 2025 – Mar 2026) / 事業等のリスク

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

Where ¥100 of sales goes

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

FY ending Mar 2026
Cost of sales
¥74
SG&A
¥25
Operating profit
¥1
Net profit kept
¥1

Annual margin trends

Gross margin26.1%
FY ending Mar 2021: 29.7%29.7%FY ending Mar 2022: 28.7%28.7%FY ending Mar 2023: 28.0%28.0%FY ending Mar 2024: 28.5%28.5%FY ending Mar 2025: 28.1%28.1%FY ending Mar 2026: 26.1%26.1%FY21FY22FY23FY24FY25FY26
Operating margin1.0%
FY ending Mar 2021: 5.3%5.3%FY ending Mar 2022: 4.1%4.1%FY ending Mar 2023: 2.8%2.8%FY ending Mar 2024: 2.6%2.6%FY ending Mar 2025: 2.6%2.6%FY ending Mar 2026: 1.0%1.0%FY21FY22FY23FY24FY25FY26
Net margin0.9%
FY ending Mar 2021: 3.0%3.0%FY ending Mar 2022: 3.1%3.1%FY ending Mar 2023: 2.0%2.0%FY ending Mar 2024: 1.5%1.5%FY ending Mar 2025: 1.7%1.7%FY ending Mar 2026: 0.9%0.9%FY21FY22FY23FY24FY25FY26

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 Mar 2026

Profit by segment

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

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第49期(2025/04/01－2026/03/31)

    ID S100YJWD2026-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第48期(2024/04/01－2025/03/31)

    ID S100W6TF2025-06-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第47期(2023/04/01－2024/03/31)

    ID S100TVEP2024-06-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第46期(2022/04/01－2023/03/31)

    ID S100R87T2023-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第45期(令和3年4月1日－令和4年3月31日)

    ID S100OKQC2022-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第44期(令和2年4月1日－令和3年3月31日)

    ID S100LU4W2021-06-29Open

Extracted from XBRL: 56 / Derived from other figures: 2

Spotted an error? Report it (corrections keep the original record)

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