M.H.GROUP LTD.
9439・Standard Market・Services
Directly Managed Salon Operations
Flagship directly managed salon business operating 11 stores under the Mod's Hair brand in the greater Tokyo metropolitan area
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (cumulative Q3, FY2026 (ending June 2026)) | ¥703 million | ¥691 million (cumulative Q3, FY2025 (ended June 2025)) | ↑ |
| Segment profit (cumulative Q3, FY2026 (ending June 2026)) | ¥27 million | ¥48 million (cumulative Q3, FY2025 (ended June 2025)) | ↓ |
| Net sales (full year, FY2025 (ended June 2025)) | ¥928 million | — | — |
| Segment profit (full year, FY2025 (ended June 2025)) | ¥57 million | — | — |
| Year-on-year net sales change rate | +1.7% | — | ↑ |
| Year-on-year segment profit change rate | -43.8% | — | ↓ |
Business Details
The company operates a total of 11 stores centered on major areas of the greater Tokyo metropolitan area, comprising 9 Mod's Hair Salon locations, 1 Beauty Salon C'est la Vie location, and 1 Eterne salon location, functioning as the flagship of the group's BS Salon (Brand Share Salon) operations. In February 2026, the company opened a new color specialty store under a new brand, "E:terne Omiya Store," based on a business alliance with ECLART Co., Ltd. Securing and developing excellent staff remains the most critical challenge.
Recent Overview
Net sales increased but profit declined sharply due to higher raw material, labor, and new-store opening costs
Net sales for the cumulative nine months of FY2026 (ending June 2026) (July 2025 to March 2026) rose to ¥703 million (up 1.7% year on year), showing steady growth, while segment profit declined significantly to ¥27 million (down 43.8% year on year). The main factors were rising raw material prices, increased labor costs, and expenses associated with the opening of the new color specialty store "E:terne Omiya Store" on February 28, 2026. The number of stores increased from 10 at the end of the previous fiscal year to 11.
Key Products
Growth Drivers
- Strengthened recruitment and customer acquisition through the business alliance with ECLART Co., Ltd. (concluded November 2025) and expansion of the new brand "E:terne"
- Upward trend in average customer spending amid diversifying customer needs
- Enhanced brand presence through promotion of DX and GX initiatives
- Branding and recruitment enhancement effects from the "Mod's Hair" collection held in September 2024 (the first in about 5 years)
Risks
- Difficulty securing excellent staff amid increasing labor mobility, including among hairdressers
- Decline in profit margins due to rising raw material prices and increased labor costs
- Consumers' growing tendency toward frugality and longer visit cycles amid rising prices
- Short-term profit pressure from upfront costs associated with new store openings
- Intensifying competition for customers amid industry-wide overstore conditions
Last updated: September 25, 2025