WATT MANN CO.,LTD.
9927・Standard Market・Retail Trade
Reuse Business
A general reuse retail business based in Kanagawa Prefecture, serving as the group's revenue base.
| Period | Current | Previous | Change |
|---|---|---|---|
| Sales (external customers, full year) | ¥5,378 million | ¥5,294 million | ↑ |
| Segment profit (full year) | ¥790 million | ¥805 million | ↓ |
| Segment assets (period-end) | ¥3,714 million | ¥3,740 million | ↓ |
| Depreciation (full year) | ¥32 million | ¥41 million | ↓ |
| Year-on-year change in sales | +1.6% | — | ↑ |
| Year-on-year change in segment profit | -1.8% | — | ↓ |
Business Details
A store and online sales business for reuse (secondhand) goods operated by the Company itself and WATT MANN (THAILAND) CO., LTD. The Company operates formats such as "Watt Mann Tech," "Watt Mann Style," "BOOKOFF," "Cow Mann," "Watt Mann Hobby/Game Station," "SPO&CAM," and "Watt Mann Camera" within Kanagawa Prefecture, purchasing and cleaning a wide range of reuse products—electrical appliances, apparel, books, hobby goods, cameras, etc.—before selling them to consumers. This also includes overseas business in the Kingdom of Thailand. For revenue recognition purposes, the segment is managed under three categories: Core, Spin-off, and Overseas.
Recent Overview
Sales increased, but active store openings in the fourth quarter led to higher initial costs, resulting in a slight decline in profit.
In FY2026 (ending March 2026), external customer sales reached ¥5,378 million (up ¥84 million, +1.6% year on year), securing an increase in sales. On the other hand, in the fourth quarter, with the aim of accelerating growth, the Company intensively carried out the opening of four spin-off format stores and four general reuse format stores, along with the closure of one spin-off format store and two general reuse format stores, incurring store opening/closing-related expenses including pre-opening costs. Segment profit was ¥790 million (down ¥14 million, -1.8% year on year), a slight decline. Overseas sales fell substantially to ¥155 million from ¥233 million in the prior period.
Key Products
Growth Drivers
- Strengthening competitiveness at existing stores through "Tokoton Kaitori" (thorough purchasing) and expanding scale through large-format store openings
- Enhancing purchasing and sales capabilities in spin-off formats (hobby, camera, sports, etc.) through increased specialization
- Revenue contribution from new store openings and scrap-and-build initiatives started in the fourth quarter, expected in subsequent periods
- Pursuing consideration of inorganic growth through M&A (currently collecting and researching deal information)
- Enhancing corporate value through the utilization of management expertise and talent following the completion of the MBO by IAPF3 Co., Ltd.
Risks
- Uncertainty in purchasing and sales conditions in the reuse market amid inflationary trends
- Profit pressure from initial costs and losses associated with accelerated new store openings and scrap-and-build activity
- Risk of declining sales and deteriorating profitability in the overseas business (Thailand)
- Changes in the business environment due to the planned delisting (scheduled for June 19, 2026) following the completion of the MBO
- Risk of impairment losses at certain domestic stores (¥4 million recorded in the current period)
Last updated: June 27, 2025