YAGI & CO.,LTD.
7460・Standard Market・Wholesale Trade
Business
Yagi & Co., Ltd. is a long-established textile specialty trading company founded in 1893, comprising the company itself, 22 consolidated subsidiaries, and 3 affiliated companies. Its core business is the trading and import/export of various textile products, spanning a wide range of operations from upstream raw materials and fabric (textiles) (Materials Business), to OEM/ODM product manufacturing (Apparel Business), household goods and bedding (Lifestyle Business), wholesale and retail of in-house brands (Brand & Retail Business), and even real estate leasing. The company has bases both domestically and overseas, having built a global supply chain across Hong Kong, Vietnam, Bangladesh, India, Italy, and other locations. Its main customers include corporate clients such as apparel manufacturers, department stores, and mass retailers, as well as general consumers through its in-house brands.
Business Model
The Materials Business and Apparel Business are positioned as "Revenue Businesses" that generate stable profits. The structure strategically reallocates these profits to the "Growth Business" (Brand & Retail Business), which is responsible for cultivating in-house brands and expanding store operations. The company is promoting a cyclical model called "YAGI 140 MOMENTUM," which directly links upstream material information to the Apparel, Retail, and Brand segments to maximize added value. The Real Estate Leasing Service functions as a stable revenue base.
Company Strengths
Since its founding in 1893, the company has built a vertically integrated structure spanning raw material procurement, product manufacturing, and retail of its own brands. With overseas bases in Hong Kong, Vietnam, Bangladesh, India, Italy, and Milan, its ability to complete a global supply chain entirely within its own group is a unique strength that is difficult for competitors to replicate in a short period.
The Apparel Business grew into the largest revenue-generating segment, with net sales of ¥44,341 million and segment profit of ¥3,508 million (up 18.6% year on year). Its track record of achieving increases in both revenue and profit—even amid headwinds such as yen depreciation and rising logistics costs—driven by its product proposal capabilities centered on highly functional, high-value-added merchandise and deepened relationships with existing clients, demonstrates a competitive advantage unique to the company.
The Brand & Retail Business recorded outstanding growth, with net sales of ¥13,348 million (up 25.3% year on year) and segment profit of ¥2,006 million (up 93.6% year on year). Full-year operation of the Ginza flagship store, strategic new store openings, a presentation held in Paris, and KOL promotional activities drove increases in both the number of customers and average spend per customer.
ENVALITH's Perspective
Performance Trend
Consolidated results for FY2026 (ending March 2026) showed revenue of ¥85,934 million (up 3.1% year on year), operating profit of ¥4,228 million (up 18.3%), ordinary profit of ¥4,824 million (up 28.1%), and profit attributable to owners of parent of ¥3,670 million (up 39.8%). Revenue reached its highest level since FY2022. On the profit side, the improving trend continued for the fifth consecutive period, with the operating profit margin rising to 4.9% (from 4.3% in the previous period) and ROE improving to 8.2% (from 6.3% in the previous period). As external factors, the continued yen depreciation trend pressured import costs, while the recovery in inbound demand provided a tailwind for the Brand & Retail Business. For FY2027 (ending March 2027), the company forecasts stable growth with revenue of ¥88,000 million (up 2.4%), operating profit of ¥4,400 million (up 4.1%), and net profit of ¥3,700 million (up 0.8%).
Growth Strategy
Aiming to establish a sustainable competitive advantage under the Mid-Term Management Plan 2029 "Business to Belief"
In addition to full-year operation of the Ginza flagship store, the company is pursuing strategic new store openings. It is enhancing international recognition through KOL-linked promotions and presentations in Paris. In FY2026 (ending March 2026), segment profit expanded 93.6% year on year to ¥2,006 million, and the business is establishing itself as the group's second profit pillar.
Centered on strategic initiatives in the innerwear category, the company is strengthening product proposals utilizing high-functionality materials. Through deeper relationships with existing clients, it achieved net sales of ¥44,341 million (up 1.8% year on year) and segment profit of ¥3,508 million (up 18.6% year on year). Product development continues to capture growing healthcare demand.
From FY2027 (ending March 2027), reportable segments will be reorganized from the current five categories into four: "Materials," "Apparel," "Brand," and "Retail." The Lifestyle Business will be integrated into Materials, and the Brand & Retail Business will be separated, aiming to establish a distinct position for each business and refine profit management.
The policy was changed from a dividend payout ratio of 35% or more to a "total payout ratio target of 70%, dividend payout ratio of 40% or more." Annual dividend for FY2026 (ending March 2026) is ¥156 (up from ¥90 in the previous fiscal year), with a forecast of ¥180 for the next fiscal year. The company resolved to cancel 840,000 treasury shares (9.19% of shares issued) and set a new repurchase framework of ¥1,500 million, clarifying its commitment to improving capital efficiency and maximizing shareholder value.
The company is pursuing global expansion from three perspectives: sustainability, brand, and digital. It aims to improve operational efficiency and develop new customers by building a group-wide DX foundation. As the culmination of the Mid-Term Management Plan 2026, it is building this foundation, with further deepening and expansion planned under the Mid-Term Management Plan 2029.
Last updated: July 19, 2026