MANDOM CORPORATION
4917・Prime Market・Chemicals
Japan
Core profit-generating segment responsible for the manufacturing and sale of domestic cosmetics
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (external customers) - Cumulative Q3 | ¥31,033 million | ¥30,894 million | ↑ |
| Segment profit (operating income) - Cumulative Q3 | ¥1,553 million | ¥1,386 million | ↑ |
| Net sales (external customers) - Full year (reference: prior year actual) | – | ¥40,354 million | — |
| Segment profit (operating income) - Full year (reference: prior year actual) | – | ¥1,606 million | — |
Business Details
Mandom Corporation manufactures and sells its own cosmetics and cosmetics for consolidated subsidiaries, while the domestic subsidiary Piaserabo Co., Ltd. purchases and resells products from the Company. The men's business, centered on the GATSBY and LUCIDO brands, is the mainstay, alongside a women's business. The main sales customer is PALTAC Corporation, and the segment also serves as a domestic manufacturing base supplying overseas subsidiaries. In the cumulative nine months of FY2026 (ending March 2026), the segment achieved increased revenue and profit due to strong performance of the LUCIDO brand and improvement in the cost ratio.
Recent Overview
Increased revenue and profit driven by strong LUCIDO performance and improved cost ratio; net sales up 0.4%, operating income up 12.0%
In the cumulative nine months of the fiscal year ended March 2026 (April to December 2025), the Japan segment recorded net sales of ¥31,033 million (up 0.4% year on year) and operating income of ¥1,553 million (up 12.0% year on year). The increase in net sales was mainly attributable to the strong performance of the men's LUCIDO brand. On the profit side, despite an increase in expenses, the effect of the improved cost ratio outweighed this, resulting in a significant improvement in operating income compared to the same period of the prior year.
Key Products
Growth Drivers
- Continued strong sales of the men's LUCIDO brand
- Effects of cost ratio and profitability improvement activities through value chain review
- Stable domestic and overseas deployment of the men's GATSBY brand
- Expansion of new customer touchpoints in e-commerce distribution through the launch of D2C brands (Aono, HOLIDEA)
- Stable business relationship with the main sales customer, PALTAC Corporation
- Creation of intra-group synergies by serving as a domestic manufacturing base supplying overseas subsidiaries
Risks
- Risk of long-term market contraction due to Japan's declining population and slowing real GDP growth
- Intensifying competition with existing competitors and overseas imported products
- Stagnation in personal consumption and deteriorating consumer sentiment due to price increases and other factors
- Risk of reduced revenue due to unexpected increases in returns associated with product renewals, etc.
- Risk of profit pressure from increased expenses (selling expenses, personnel costs, etc.)
Last updated: June 23, 2025