TAY TWO CO., LTD.
7610・Standard Market・Retail Trade
Multi-Package Sales Business (Single Segment)
A single-business company centered on reuse stores and EC, handling sales of used and new products
| Period | Current | Previous | Change |
|---|---|---|---|
| Net Sales (Q1 cumulative) | ¥11,721 million | ¥8,561 million | ↑ |
| Operating Profit (Q1 cumulative) | ¥792 million | ¥221 million | ↑ |
| Ordinary Profit (Q1 cumulative) | ¥816 million | ¥199 million | ↑ |
| Quarterly Net Profit Attributable to Owners of Parent (Q1 cumulative) | ¥475 million | ¥91 million | ↑ |
| Operating Profit Margin (Q1 cumulative) | 6.8% | 2.6% | ↑ |
| Total Assets | ¥15,388 million | ¥14,306 million | ↑ |
| Equity Ratio | 44.5% | 48.8% | ↓ |
| Quarterly Net Profit per Share | ¥7.49 | ¥1.44 | ↑ |
| Full-Year Net Sales Forecast | ¥42,500 million | ¥42,233 million | ↑ |
| Full-Year Operating Profit Forecast | ¥1,600 million | ¥1,378 million | ↑ |
Business Details
Operates stores such as "Furuhon Ichiba," "Furuichi," and "Trading Card Park," conducting sales and purchasing of books, home video game software and hardware, trading cards, hobby goods, smartphones, apparel, and other items. Also operates an EC site through its wholly owned subsidiary Yamatoku. Affiliate company Top Books operates FC stores. The company promotes its business across five areas: Reuse Stores, EC, BtoB, Global, and IP Business.
Recent Overview
Trading cards and games performed well, with net sales up 36.9% year-on-year and operating profit up 257.7% year-on-year, marking a significant improvement
In the first quarter of FY2027 (ending February 2027) (March to May 2026), used trading cards and games performed well, and in the new product category, demand expansion driven by stabilized supply of new game hardware overlapped with pre-price-revision rush demand, resulting in net sales of ¥11,721 million (up 36.9% year-on-year) and operating profit of ¥792 million (up 257.7% year-on-year). Amid a trend of rising SG&A expenses, the company worked to control costs, leading to a significant improvement in profit margin. Three new "Furuichi" stores were opened, and structural reforms were also implemented, including consolidating Furuichi Online's EC functions into Yamatoku. There is no change to the full-year earnings forecast (net sales of ¥42,500 million, operating profit of ¥1,600 million).
Key Products
Growth Drivers
- Expanding demand for both used and new trading cards and games (stabilized supply of new game hardware, pre-price-revision rush demand)
- Continued store openings in shopping malls expanding the store network and acquiring new customers (three new stores opened in Q1)
- Overall expansion of the reuse market (growing interest in a circular economy, increased reuse demand due to rising new product prices)
- Efficiency gains from concentrating EC business management resources at Yamatoku and strengthening the group's EC business
- Diversification of revenue through expanded external sales of BtoB business tools such as TAYS, trading card inventory search terminals, and IoT vending machines
- Expansion of Global Business through preparations for a second overseas store following Taiwan, and overseas expansion of domestically sourced products
Risks
- Risk of difficulty in stable procurement of used merchandise volume and quality (unlike new products, adjusting purchase volume is difficult)
- Seasonal fluctuation risk and manufacturer release delay risk for new home video game software and hardware
- Risk of shrinking markets for key merchandise due to changes in the business environment, such as the declining birthrate, aging population, and expansion of content streaming markets
- Store opening and closing risk (difficulty securing properties as planned, impairment and withdrawal losses due to deteriorating profitability of existing stores)
- Risk of rising labor costs and difficulty securing personnel due to the expanded application of employee pension coverage to short-time workers, among other factors
- Risk of rising financial leverage due to declining equity ratio (48.8%→44.5%) and increasing short-term borrowings (¥1,500 million→¥2,900 million)
Last updated: May 29, 2026