C'BON COSMETICS Co.,Ltd.
4926・Standard Market・Chemicals
Business
C'BON Co., Ltd. is a cosmetics manufacturer founded in 1966 that, under its corporate philosophy of "creating and expressing beauty," manufactures and sells cosmetics and quasi-drugs centered on skincare products. Products are manufactured at the company's own production center in Tochigi Prefecture (ISO22716 certified) and sold to membership customers through directly-operated "C'BON Facialist Salon" locations nationwide. At the point of sale, the company provides after-sales services such as skin counseling and Oriental-style treatments, developing a membership model that integrates product sales with service experience. Directly-operated stores account for 93.8% of net sales, and the company utilizes accumulated skin data from over 1.89 million cases in research and development. Its subsidiaries operate hair salons and manufacture beverages and food products, among other businesses, and the company is also pursuing synergy creation in the beauty domain.
Business Model
The company attracts customers to trial plans through events and street promotions, and after their salon visit, provides skincare product sales and facial services based on skin counseling. The "Beauty Up Point" program, a point system based on purchase amount, grants after-sales service to encourage repeat visits. Loyal customers are cultivated through a dedicated desk for loyal customers and the holding of "Royal Days," aiming to maximize customer lifetime value (LTV). The gross profit margin remains at a high level of 75.9%.
Company Strengths
Objective skin data from over 1.89 million cases and approximately 180,000 annual customer surveys are reflected in R&D. In FY2026 (ending March 2026), the company presented 5 research findings at the Society of Cosmetic Chemists of Japan, the Japanese Biochemical Society, the Japanese Society of Integrative Medicine, and other organizations, and established scientific evidence for facial care through joint research with Meiji University of Integrative Medicine. The company continues to develop high value-added products by leveraging its integrated manufacturing and sales strengths.
In FY2026 (ending March 2026), sales at directly-operated stores amounted to ¥8,693,057 thousand (93.8% of total sales), with a gross profit margin at a high level of 75.9%. The company's in-house production center maintains ISO22716 (cosmetics GMP) certification, establishing a quality control system to international standards. The vertically integrated model, which completes everything in-house from manufacturing to sales and after-sales service, supports the high gross margin structure.
Through the use of the "Royal Customer Dedicated Desk" established in FY2024 (ending March 2024) and the continued holding of "Royal Days," the number of loyal customers has steadily increased, surpassing the target of 12,000. New customer visits increased to 109.4% year-on-year, and new customer sales expanded to 119.6% year-on-year, indicating that both new customer acquisition and deepening relationships with existing customers are functioning effectively.
ENVALITH's Perspective
Performance Trend
Revenue bottomed out at ¥8,525 million in FY2023 (ended March 2023) and has increased for three consecutive fiscal periods. In FY2026 (ending March 2026), revenue reached ¥9,267 million (up 4.8% year on year), surpassing the ¥9,153 million recorded in FY2022 (ended March 2022) and recovering to a record-high level. Operating profit rose to ¥253 million (up 48.1% year on year), ordinary profit to ¥281 million (up 63.5% year on year), and profit attributable to owners of parent to ¥213 million (up 56.8% year on year), with substantial improvement at each profit stage. The improvement in net profit was also supported by a ¥38 million gain from income taxes-deferred, resulting from a review of the recoverability of deferred tax assets. As external factors, rising raw material prices and yen depreciation pushed up selling, general and administrative expenses, while recovering inbound demand and increased opportunities to go out supported the cosmetics market as a whole. For FY2027 (ending March 2027), the company forecasts revenue of ¥9,527 million, operating profit of ¥308 million, ordinary profit of ¥325 million, and net profit of ¥200 million (net profit is expected to decrease 6.3% year on year).
Growth Strategy
Under the new mid-term plan "Harmonizing Beauty Together," the Company is pursuing renewed growth across four axes: organization, customers, production, and stores
Based on the R&D purpose of "scientifically exploring skin and mind," the Company is advancing analysis of the effects of in vivo exosomes and oxytocin/cortisol on skin genes, among other initiatives. It continues to develop high-value-added products by incorporating over 1.89 million cumulative skin data points and 180,000 annual customer surveys into R&D.
Through store renovations and relocations based on the branding strategy, along with strengthened training programs, the number of new customer visits reached 109.4% year-on-year and new customer sales reached 119.6% year-on-year. The number of loyal customers has steadily increased, surpassing the target of 12,000. Flat growth in the number of customers served due to hiring difficulties remains a challenge.
Both sales and profit trended steadily due to the establishment of a changed mindset resulting from the revised evaluation system and improved productivity. The mutual customer referral model at the neaf Kamata store has taken hold, achieving a higher customer spend than the Roppongi and Ebisu stores. Hair Salon neaf Roppongi won the Treatment & Spa category at the "KAMI CHARISMA 2026 Award."
By focusing on sales of high-margin products and leveraging the BtoB procurement platform to expand direct sales channels, subsidiary sales grew significantly to 120.1% year-on-year. Both sales growth and margin improvement progressed further.
The Company will pursue five initiatives: "Building an organization full of proactive spirit," "Deepening customer experience value (accelerating OMO strategy and maximizing LTV)," "Improving production and quality control systems (production and logistics DX)," "Streamlining store operations," and "Opening new store formats leveraging synergies."
The Company is reviewing its China-centric sales channels and working to expand touchpoints in Asia, Europe, and other regions. However, due to escalating global tensions, issues such as shipment delays have arisen, and the situation remains unstable, resulting in progress falling short of plan during the current period.
Last updated: July 19, 2026