Kawasaki & Co.,Ltd.
3045・Standard Market・Wholesale Trade
Apparel Business
A low-profitability segment that plans and outsources apparel accessories for senior women, operating both wholesale and direct sales channels
| Period | Current | Previous | Change |
|---|---|---|---|
| Net Sales (Cumulative Q3 FY2026 (ending August 2026)) | ¥428 million | ¥426 million (Cumulative Q3 FY2025 (ending August 2025)) | ↑ |
| Operating Income (Cumulative Q3 FY2026 (ending August 2026)) | ¥5 million | ¥7 million (Cumulative Q3 FY2025 (ending August 2025)) | ↓ |
| Net Sales (Full Year FY2025 (ending August 2025)) | ¥538 million | — | — |
| Operating Loss (Full Year FY2025 (ending August 2025)) | -¥19 million | — | — |
| In-house EC Site Sales Growth Rate (Cumulative Q3 FY2026 (ending August 2026)) | 244.7% year-on-year | — | ↑ |
Business Details
This segment plans women's personal accessories (bags, handkerchiefs) made from chenille fabric, imported luxury towels, home interior products, and women's wear mainly for senior women, and outsources production domestically and in China, Taiwan, the Philippines, Indonesia, and elsewhere. Products are sold wholesale under the "Lake Alster" brand through department stores, specialty stores, and mail-order companies, and the company also operates directly-managed boutique stores in Chuo-ku, Osaka City and Izumiotsu City. Bags and pouches for women are also planned and outsourced for production and sold.
Recent Overview
Sales increased slightly, but cost increases could not be absorbed, resulting in a 27.2% year-on-year decline in operating income
In the cumulative Q3 period of FY2026 (ending August 2026) (September 2025 to May 2026), net sales were ¥428 million (up 0.5% year-on-year), securing a slight increase. However, despite price revisions in response to rising personnel expenses from minimum wage hikes and rising raw material prices, the increases could not be fully absorbed, and operating income was limited to ¥5 million (down 27.2% year-on-year). Meanwhile, the number of registered members on the in-house EC site increased due to the effect of the shareholder benefit program, and EC site sales grew significantly, up 244.7% year-on-year.
Key Products
Growth Drivers
- Strengthening of the direct sales channel through increased in-house EC site membership and rapid sales expansion (up 244.7% year-on-year)
- Enhanced product lineup through new product development and launches
- Increase in sales to mail-order companies
- Profitability improvement through price revision effects
- Improved sales efficiency through inventory optimization
- Expansion of the EC site membership base leveraging the shareholder benefit program
Risks
- Consumer thrift consciousness and consumption slowdown due to continued price increases
- Cost pressure from rising personnel expenses due to minimum wage hikes
- Limits to passing on rising raw material and procurement cost increases to prices
- Rising procurement and logistics costs due to yen depreciation
- Impact on resource prices and logistics costs from escalating tensions in the Middle East
- Risk of dependence on major customers and sales channels
- Need to respond to intensifying competition and changing preferences in the senior women's market
Last updated: November 25, 2025