ENVALITH
株式会社ZOA logo

ZOA CORPORATION

3375・Standard Market・Retail Trade

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株式会社ZOA logo
ZOA CORPORATION3375

Retail Business

Core business selling PCs, peripherals, and motorcycle products through stores and mail order

PeriodCurrentPreviousChange
Net Sales¥8,992 million (FY2026, ending March 2026)¥8,444 million (FY2025, ending March 2025)↑
Segment Profit¥428 million (FY2026, ending March 2026)¥264 million (FY2025, ending March 2025)↑
Segment Profit Margin4.8% (FY2026, ending March 2026)3.1% (FY2025, ending March 2025)↑
Segment Assets¥3,506 million (FY2026, ending March 2026)¥3,765 million (FY2025, ending March 2025)↓
PC Business Net Sales¥4,813 million (FY2026, ending March 2026)Up 5.7% year on year↑
Internet Mail-Order Business Net Sales¥4,019 million (FY2026, ending March 2026)Up 9.3% year on year↑
Motorcycle Business Net Sales¥159 million (FY2026, ending March 2026)Down 24.1% year on year↓

Business Details

Operates nationwide stores ("OA Nagashima," "Computer Plaza ZOA," "Pasokon no Yakata") and the internet mail-order site "e-zoa.com." Handles PC units, peripherals, DOS/V Parts & Peripherals, software, supplies, motorcycle-related products, and Service & Support. Its strengths lie in the high-performance, low-price ZOA Original PCs and support services such as initial setup and data migration, with the core management strategy centered on differentiation through specialty-store-level customer service and support capabilities.

Recent Overview

Both sales and profit improved significantly on Windows 10 replacement demand and strong e-commerce

Retail Business net sales in FY2026 (ending March 2026) were ¥8,992 million (up 6.5% year on year), and segment profit rose sharply to ¥428 million (up 62.4% year on year). A surge in replacement demand for PC units driven by the end of Windows 10 support, along with the high profitability of ZOA Original PCs, drove profit growth. Internet mail-order sales also grew 9.3% year on year on strong performance in motorcycle products, PC parts, and home appliances. Meanwhile, the Retail Business recorded an impairment loss of ¥9 million on unprofitable stores. As a reversal of the Windows 10 replacement surge is expected in FY2027 (ending March 2027), the company plans to respond by strengthening original PC sales, enhancing support services, and relaunching its own e-commerce site.

Key Products

product
PC Business (In-store / ZOA Original PC)

Captured replacement demand driven by the end of Windows 10 support, with ZOA Original PCs making a major contribution to both sales and profit. Support services are sold as an add-on to over 60% of PC unit purchasers, improving profitability. The company also offers gaming PCs via a BTO model, demonstrating its unique procurement capability to secure inventory even amid rising component prices.

platform
Internet Mail-Order Business (e-zoa.com)

Motorcycle products account for about half of sales and remain strong. Assembly PC parts such as memory and graphics boards, which were in short supply in the market, as well as home appliances such as vacuum cleaners and microwave ovens, also performed well. The company plans to relaunch its own site from the end of April 2026 to strengthen direct sales through its own platform.

service
Service & Support

Provides support services including initial setup, data migration, and repairs. The number of support requests increased against the backdrop of higher PC sales driven by the end of Windows 10 support, contributing to improved profitability. In FY2027 (ending March 2027), the company plans to review its support menu and pricing to capture more support business.

product
Motorcycle Business

The company continues its strategy of directing customers to mail order due to limitations on in-store product range. As a result, in-store sales of motorcycle products have trended downward, while mail-order sales of motorcycle products have increased. In-store Motorcycle Business sales in FY2026 (ending March 2026) were ¥159 million (down 24.1% year on year).

product
DOS/V Parts & Peripherals

Responded to expanding demand for gaming PCs driven by the sharp rise in memory and SSD prices since the end of the year. Despite depleted market inventory, the company secured stock through its unique procurement capability, also leveraging in-house product development to improve profitability.

Growth Drivers

  • High profitability of ZOA Original PCs (higher profitability than general PC units, with support attached to over 60% of PC unit sales)
  • Continued growth in internet mail-order sales (strong performance in motorcycle products, PC parts, and home appliances)
  • Strengthened web sales and web advertising focus through the relaunch of the company's own e-commerce site (operations to begin end of April 2026)
  • Rising demand for after-sales support (increase in support requests driven by higher PC sales from Windows 10 replacement demand)
  • Expansion of gaming PCs via the BTO model and inventory security through unique component procurement capability
  • Sales expansion through securing inventory amid rising prices of components such as memory, SSDs, and graphics boards

Risks

  • Decline in PC unit sales from FY2027 (ending March 2027) onward as a reversal of the Windows 10 special demand (support ended October 14, 2025)
  • Long-term declining trend in domestic PC shipment volumes and intense price competition with competitors including major appliance retailers and large e-commerce players
  • Rising procurement costs and inventory sourcing difficulties due to soaring prices of components such as memory and SSDs
  • Declining trend in in-store Motorcycle Business sales (down 24.1% year on year in FY2026, ending March 2026) and reduced in-store profitability due to the shift toward mail order
  • Risk of unstable service revenue due to declining per-unit support pricing and fluctuations in the number of support requests
  • Presence of unprofitable stores (an impairment loss of ¥9 million was recorded in FY2026, ending March 2026) and the burden of fixed costs

Last updated: June 25, 2026