AOYAMA TRADING Co., Ltd.
8219・Prime Market・Retail Trade
Business Wear Business
The core segment of the Aoyama Shoji Group, and its largest segment, selling business wear domestically and internationally.
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment sales | ¥124,299 million | ¥133,109 million | ↓ |
| Segment operating profit | ¥5,183 million | ¥8,371 million | ↓ |
| Men's suits units sold | 955 thousand units | 1,048 thousand units | ↓ |
| Men's suits average selling price | ¥34,917 | ¥34,076 | ↑ |
| Existing store sales YoY | 95.8% | 99.6% | ↓ |
| Existing store customer count YoY | 95.2% | 98.1% | ↓ |
| Existing store average spend per customer YoY | 100.6% | 101.5% | ↓ |
| Number of stores at fiscal year-end (Aoyama Trading Co., Ltd. total) | 720 stores | 734 stores | ↓ |
| Impairment loss | ¥417 million | ¥825 million | ↓ |
Business Details
Centered on the Business Wear Business of Aoyama Trading Co., Ltd., this segment comprises Blue Reverse Co., Ltd. (alteration processing), M.D.S. Co., Ltd. (in-store and out-of-store display planning), Eisho Co., Ltd. (sales consumables planning), Fuku-Ryo Co., Ltd. (merchandise procurement and supply), Yofuku no Aoyama (Shanghai) Trading Co., Ltd. (sales to China), and Melbo Menswear Co., Ltd. (domestic sales). The segment offers a wide range of merchandise from heavy apparel such as suits, jackets, slacks, coats, and formal wear to light apparel including shirts, casual wear, and women's wear. It accounts for approximately 66% of consolidated net sales, making it the core segment.
Recent Overview
Existing store sales fell to 95.8% YoY due to accelerating market casualization and record heat, and segment profit declined sharply to 61.9% YoY.
In the Business Wear Business for FY2026 (ending March 2026), the pace of market casualization exceeded expectations, and combined with a record-breaking, prolonged summer heat that delayed the peak selling season for autumn/winter merchandise, the number of men's suits sold decreased to 955 thousand units (91.1% YoY). Existing store sales were 95.8% YoY. On the other hand, price revisions, restraint on discounting, and higher value-added made-to-order suits led to a rise in the average selling price to ¥34,917 (102.5% YoY), improving the gross profit margin. "Minna no Suit," launched for sale in November 2025, contributed to developing new customer segments. Business casual products (cut-and-sew items, polo shirts, knitwear) also performed well.
Key Products
Growth Drivers
- Creating new customer touchpoints and strengthening branding through the "Minna no Series" (shirts, pants, shoes, blouses, etc.) centered on "Minna no Suit"
- Continued rise in the average selling price of men's suits (FY2026: ¥34,917, 102.5% YoY), improving gross profit margin
- Higher customer spend through enhanced high value-added fabrics and options for made-to-order suits
- Diversification of merchandise lineup driven by the strong performance of business casual products (cut-and-sew items, polo shirts, knitwear, etc.)
- Improved profitability through merchandise price revisions and restrained discounting
- A revenue recovery plan premised on existing store sales YoY of 101.7% for FY2027 (ending March 2027) (H1: 102.0%, H2: 101.5%)
Risks
- Structural contraction of the suit market (declining customer counts due to market casualization proceeding faster than expected)
- Risk of weak sales of autumn/winter suits and cold-weather apparel due to temperature and weather factors (in FY2026, record-breaking summer heat delayed the actual selling season)
- Continued decline in the number of men's suits sold (FY2026: 955 thousand units, 91.1% YoY)
- Decline in consumer sentiment due to rising prices
- Risk of recording impairment losses in the Business Wear Business segment (FY2026: ¥417 million)
- Risk of failing to achieve the final year targets (FY2027, ending March 2027) of the medium-term management plan (consolidated net sales of ¥210.0 billion, consolidated operating profit of ¥17.0 billion)
Last updated: June 25, 2026