Nojima Corporation

Business Details

Provides sales of digital AV equipment, IT & information equipment, and home electrical appliances, along with ancillary services such as delivery, installation, repair, and setup. The company's strength lies in its unique "consulting sales" approach, which does not rely on manufacturer sales staff, with a basic strategy of dominant regional expansion centered on Tokyo and Kanagawa Prefecture. As of the end of FY2026 (ending March 2026), the company operated a total of 241 stores, comprising 240 digital home appliance specialty stores and 1 communication specialty store. Sales of AI-equipped PCs and high-value-added beauty appliances performed well, and net sales reached a record high.

Recent Overview

Net sales reached a record high, but growth in ordinary income remained modest

In FY2026 (ending March 2026), net sales in the Digital Home Appliance Specialty Store Business reached ¥339,863 million (112.5% year on year), a record high. Sales of AI-equipped PCs and high-value-added beauty appliances contributed favorably. Meanwhile, ordinary income was ¥20,513 million (102.1% year on year), representing a modest rate of increase despite the profit growth. Through scrap-and-build, 12 new stores were opened and 3 were closed, bringing the store count to 240. Sixteen communication specialty stores were closed or transferred, consolidating operations to a single store. In February 2026, a robot showroom was opened, and DX investment continued to be promoted. Investment in human capital was also strengthened, including the continued decision to implement base pay increases twice a year and raising the starting salary for new graduates to a maximum of ¥400,000.

Key Products

Growth Drivers

• Strong sales of high-priced items such as AI-equipped PCs and high-value-added beauty appliances
• Capturing air conditioner replacement demand ahead of the revision of energy efficiency standards from FY2027
• New store openings for small-format stores through dominant regional expansion centered on Tokyo and Kanagawa Prefecture
• Improvement of in-store customer experience and service quality through DX investment
• Strengthened customer acquisition through promotional measures such as the "Massive Blowout (Settlement) Sale"
• Differentiation through advanced experiential value offerings such as the opening of the robot showroom

Risks

• Decline in personal consumption sentiment due to continued price increases
• Profit pressure from intensifying competition and market maturation across the home appliance retail industry as a whole
• Store closure losses and impairment losses associated with scrap-and-build (impairment loss of ¥534 million in FY2026 ending March 2026)
• Risk of economic downturn and rising import goods costs due to the impact of US trade policy
• Impact on product supply and pricing from soaring semiconductor and raw material prices, etc.
• Pressure on profit margins from increased labor costs associated with human capital investment (base pay increases, higher starting salaries)