CROSSFOR Co.,Ltd.
7810・Standard Market・Other Products
Business
Cross For Co., Ltd. is a jewelry manufacturer founded in 1987 and based in Kofu City, Yamanashi Prefecture. Centered on its proprietary patented technology "Dancing Stone" (a technique that allows diamonds to move/sparkle without drilling holes in them), the company manufactures and sells OEM products and its own branded products for the domestic market, as well as parts and products for overseas markets. It has five consolidated subsidiaries (in Hong Kong, China, Thailand, India, and Japan), with a regional sales composition (FY2025, ending July 2025) of 68.7% Japan, 10.4% Thailand, 8.2% India, and 6.8% China. Its major customers are major domestic retailers and wholesalers as well as overseas jewelry manufacturers; while OEM orders form its core business, it also develops its own brands such as "Cross for NewYork". In June 2025, the company obtained RJC COP certification, advancing its sustainability initiatives.
Business Model
Domestically, the company manufactures and sells branded products for various companies that incorporate its "Dancing Stone" technology, based on OEM orders from jewelry wholesalers and retailers, while also developing its own brand "Cross for NewYork." For overseas markets, it supplies "Dancing Stone" parts that can be mass-produced through mechanization, and generates revenue by providing manufacturing know-how while ensuring quality control. Manufacturing is outsourced except for a portion, maintaining asset efficiency. Of the ¥3,757 million in net sales for FY2025 (ending July 2025), domestic sales were ¥2,580 million (68.7%) and overseas sales were ¥1,177 million (31.3%).
Company Strengths
"Dancing Stone" has obtained patent rights in over 20 countries including Japan, the US, Europe, China, Hong Kong, Taiwan, South Korea, Thailand, India, and Brazil. The company also holds design rights in multiple countries including Japan, the US, Europe, China, South Korea, and India, and continues to carry out counterfeit elimination activities in cooperation with local attorneys.
Revenue increased 33.6% over five fiscal years, from ¥2,812 million in FY2021 to ¥3,757 million in FY2025. In FY2025 (ended July 2025), revenue grew 10.1% year on year, operating profit reached ¥55 million (compared with an operating loss of ¥16 million in the prior period), and ordinary profit was ¥24 million, achieving profitability at all income levels and confirming an improvement in the earnings structure.
The company has four overseas subsidiaries in Hong Kong, China, Thailand, and India (established December 2024), as well as domestic subsidiary D.Tech, and has built a system for acquiring new customers through participation in international jewelry trade shows and the use of local agents. Overseas revenue in FY2025 (ended July 2025) reached ¥1,177 million, accounting for 31.3% of total revenue.
ENVALITH's Perspective
Performance Trend
Sales over the past five fiscal years showed a gradual upward trend, rising from ¥2,812 million in FY2021 to ¥3,757 million in FY2025, but growth accelerated sharply in the cumulative nine months through Q3 FY2026 (ending July 2026), reaching ¥4,179 million (up 55.5% year on year). This was mainly driven by strong domestic exhibition and live sales, along with increased sales of bullion-related products. On the profit side, operating profit surged 413.6% to ¥155 million from ¥30 million in the same period of the previous year, marking a substantial improvement, while ordinary profit and net profit also turned positive. As for external factors, the sharp rise in bullion prices generated valuation gains from the fair-value assessment of bullion re-refining processing, while the continuation of US tariffs suppressed overseas demand. The full-year forecast has been revised to sales of ¥5,428 million and operating profit of ¥78 million, with a seasonal decline in profit expected in the fourth quarter.
Growth Strategy
Aiming for sustainable growth centered on four pillars: original product development, deepening the North American market, DX promotion, and sustainability initiatives
Building on the "Dancing Stone" patented technology as its core, the company continues to develop original product lines designed for collaboration with global brands. It is driving new order acquisition through increased participation in domestic and overseas exhibitions (with related costs increasing year on year).
Despite soft demand due to the continued impact of U.S. tariffs and soaring bullion prices, the company worked to secure orders and develop new customers through exhibitions, resulting in overseas sales that slightly exceeded the same period of the previous year. Development of emerging markets such as India and Southeast Asia (including the establishment of CROSSFOR INDIA PRIVATE LIMITED in December 2024) is also ongoing.
The company continues to advance DX initiatives aimed at improving operational efficiency and expanding sales channels. The strong performance of live sales is seen as partly a result of leveraging digital channels, but specific progress figures are not disclosed in the financial results summary.
The company is promoting sustainability-oriented management through resource recycling via re-refining of bullion and investment in human capital (including base salary increases). Selling, general and administrative expenses increased 18.4% year on year, but this is positioned as an upfront cost including investment in human resources.
Last updated: July 17, 2026