HANDSMAN CO., LTD.
7636・Standard Market・Retail Trade
Home Center Business (Single Segment)
Kyushu-based, DIY-focused home center chain expanding into Osaka, operating 12 stores in total
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (cumulative Q3) | ¥25,516 million | ¥25,521 million (same period prior year) | — |
| Operating profit (cumulative Q3) | ¥727 million | ¥810 million (same period prior year) | ↓ |
| Ordinary profit (cumulative Q3) | ¥943 million | ¥991 million (same period prior year) | ↓ |
| Net income for the quarter (cumulative Q3) | ¥637 million | ¥668 million (same period prior year) | ↓ |
| Gross profit margin | 31.1% | 31.6% (same period prior year) | ↓ |
| Quarterly net income per share | ¥46.34 | ¥48.25 (same period prior year) | ↓ |
| Total assets | ¥25,948 million | ¥25,665 million (end of prior fiscal year) | ↑ |
| Net assets | ¥18,398 million | ¥18,102 million (end of prior fiscal year) | ↑ |
| Equity ratio | 70.9% | 70.5% (end of prior fiscal year) | ↑ |
| Depreciation (cumulative Q3) | ¥628 million | ¥675 million (same period prior year) | ↓ |
| Full-year net sales forecast | ¥35,050 million (+0.4% year-on-year) | ¥34,896 million (actual results for prior fiscal year) | ↑ |
| Full-year operating profit forecast | ¥1,080 million (△12.6% year-on-year) | ¥1,236 million (actual results for prior fiscal year) | ↓ |
Business Details
Hansman Co., Ltd. operates a home center business in a single segment, selling DIY Products, Household Goods, and Car & Leisure Products. Guided by its corporate philosophy of "customer-first principle," the company aims to fulfill customer needs related to housing and daily life. It has expanded its store network with a base in the Kyushu region, and made its first entry into Osaka Prefecture with the Matsubara store in October 2023. The company has significantly increased the number of employees holding DIY advisor certifications, aiming for differentiation through enhanced consulting-based sales capabilities. Net sales for the cumulative nine months of the third quarter of FY2026 (ending March 2026) [note: fiscal year end is June] were ¥25,516 million (100.0% year-on-year).
Recent Overview
Net sales roughly flat year-on-year, but operating profit fell 10.2% due to rising procurement costs, leading to lower profitability
In the cumulative nine months of Q3 FY2026 (ending March 2026) (July 2025 to March 2026), total store customer traffic was 100.2% year-on-year and average spend per customer was 99.8% year-on-year, resulting in net sales of ¥25,516 million, roughly flat. On the other hand, the company restrained price increases despite persistently high raw material prices and a weaker yen driving up procurement costs, causing the gross profit margin to decline by 0.5 percentage points year-on-year to 31.1%. Selling, general and administrative expenses were held to 99.3% of the prior-year level due to lower depreciation and utility costs, but operating profit fell significantly to ¥727 million (down 10.2% year-on-year). The full-year earnings forecast (net sales of ¥35,050 million, operating profit of ¥1,080 million) remains unchanged from the figures announced on February 9, 2026. By segment, Car & Leisure Products performed well (104.1% year-on-year), while DIY Products declined slightly (98.4% year-on-year) due to the impact of stockouts and other factors.
Key Products
Growth Drivers
- Enhanced consulting-based sales capability and differentiation through a significant increase in employees holding DIY advisor certifications
- Maintaining product assortment and minimizing lost sales opportunities by sourcing substitute products and developing new suppliers
- Steady growth in the Car & Leisure Products segment (104.1% year-on-year)
- Stable performance in the Household Goods segment (100.9% year-on-year)
- Store expansion strategy targeting major metropolitan areas (policy to expand store areas in Honshu)
- Reduction in selling, general and administrative expenses through lower depreciation and utility costs
Risks
- Prolonged consumer thrift and purchase hesitancy due to continued price inflation
- Elevated raw material prices and a weaker yen driving up procurement costs and lowering the gross profit margin (down 0.5 percentage points year-on-year to 31.1%)
- Frequent temporary stockouts and lost sales opportunities due to widespread product discontinuations and price increases by suppliers (particularly in the DIY Products segment)
- Uncertainty about the future outlook due to geopolitical risks, including tensions in the Middle East
- Market contraction due to population decline and intensifying competitive pressure, including from other industries
- ROA and ROE remaining well below target levels (both above 10%)
- Full-year operating profit forecast projecting a substantial decline of 12.6% year-on-year, requiring a recovery in the fourth quarter
Last updated: September 29, 2025