TOSHO CO.,LTD.
8920・Standard Market・Services
Sports Club Business
Adult-only membership sports club business operating "Holiday Sports Club" nationwide
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (full year) | ¥12,562 million | ¥12,566 million | — |
| Segment profit (full year) | ¥1,669 million | ¥487 million | ↑ |
| Segment assets (fiscal year-end) | ¥19,160 million | ¥20,206 million | ↓ |
| Depreciation (full year) | ¥1,120 million | ¥1,241 million | ↓ |
| Increase in tangible/intangible fixed assets (full year) | ¥433 million | ¥1,424 million | ↓ |
| Number of stores (fiscal year-end) | 95 stores | 99 stores | ↓ |
Business Details
Operates the membership sports club "Holiday Sports Club" exclusively for adults aged 16 and over, with a nationwide network of 95 stores as of the end of FY2026 (ending March 2026). Based on the core concept of "play, enjoy, fitness," the company offers large facilities dedicated to adults without attached junior swimming schools. Customers can use a wide variety of exercise programs with a single monthly membership fee, and the company differentiates itself through late-night operating hours until 11 p.m., relaxation facilities, and group membership plans, aiming to become the leading club in each region. The store opening model targets a standalone-store ordinary income margin of 35% or higher.
Recent Overview
Segment profit improved significantly through cost reductions and price pass-through, while net sales remained flat
In FY2026 (ending March 2026), Sports Club Business net sales were ¥12,562 million (down 0.0% year on year), remaining essentially flat, while segment profit rose sharply to ¥1,669 million from ¥487 million in the prior period. The price pass-through of monthly membership fees—unifying existing members' legacy pricing with current pricing by November 2025—along with labor savings from upgrading to energy-efficient equipment and revising business processes, contributed significantly to cost reduction. The company also closed four stores (Toyota, Nishi-Ichinoe, Fukui, and Zama Rinkan), advancing the selection and concentration of management resources. The large-scale impairment loss recorded in the prior period (¥1,595 million) was limited to ¥59 million (in the Hotel Business) in the current period, also contributing to the improvement in overall group profit.
Key Products
Growth Drivers
- Revenue improvement through price pass-through of monthly membership fees (completed unification of existing members' legacy pricing to current pricing)
- Labor savings and cost reduction through upgrades to energy-efficient equipment and revision of business processes
- Rollout of a new membership category offering discounted initial monthly fees to promote new member acquisition
- Expansion of the member base through the introduction of new machines and services targeting women
- Selection and concentration of management resources through the closure of low-profitability stores
Risks
- Intensifying competition and deepening price competition due to the rapid increase in 24-hour gyms and micro-gyms
- Cost pressure from continued cost-push inflation in utilities, labor costs, and other expenses
- Increasing difficulty in acquiring members due to Japan's declining population and continued consumer thrift orientation
- Risk of additional impairment losses at stores with declining profitability (¥1,595 million was recorded in the prior period)
- Continued consumer thrift orientation amid stagnant real wages under inflation and yen depreciation
Last updated: June 24, 2026