MRK HOLDINGS INC.
9980・Standard Market・Retail Trade
Women's Underwear and Related Business
MRK Holdings' core segment. Offers beauty and health products centered on shaping underwear via directly operated stores and e-commerce.
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment revenue (full year, FY2026 ending March 2026) | ¥18,597 million | ¥18,481 million | ↑ |
| Segment profit (full year, FY2026 ending March 2026) | ¥679 million | ¥683 million | ↓ |
| Segment assets (full year, FY2026 ending March 2026) | ¥18,309 million | ¥19,451 million | ↓ |
| Depreciation and amortization (full year, FY2026 ending March 2026) | ¥286 million | ¥354 million | ↓ |
| Revenue from external customers (full year, FY2026 ending March 2026) | ¥18,590 million | ¥18,479 million | ↑ |
Business Details
The segment centers on women's foundation garments and lingerie designed for body shaping, alongside body care cosmetics, custom-made insoles and dedicated footwear, and original supplements and health foods, sold through directly operated stores nationwide and the e-commerce site. Stores also provide after-sales services such as body-making support to enhance customer satisfaction. This is the group's core business, accounting for approximately 88% of consolidated revenue, and the number of recurring/subscription sales through e-commerce has been increasing as coordination between e-commerce and stores strengthens.
Recent Overview
New colors and new series for flagship shaping underwear plus preferential installment fee measures raised purchase amounts per customer; subscription e-commerce sales also increased.
In FY2026 (ending March 2026), limited-edition new colors for flagship product series and the February 2026 launch of "Curvicious Eterverry" performed well, increasing the purchase amount per existing customer. In e-commerce, strengthened coordination with stores increased the number of subscription sales, and revenue rose a strong 6.7% year on year. Meanwhile, while advancing cost structure improvements through optimized advertising expenses and the consolidation of 18 stores, expenses related to human capital expansion and organizational restructuring kept segment profit nearly flat at ¥679 million (down 0.5% year on year).
Key Products
Growth Drivers
- Increased repeat purchase volume and purchase amount per customer through limited-edition new colors and new series for flagship products
- Expansion of subscription sales services in e-commerce and initiatives linking real stores (e-commerce sales up 6.7% year on year in FY2026 ending March 2026)
- Increased purchase amount per existing customer driven by successful time-limited promotional measures such as preferential installment fees
- Expanded consumer touchpoints and enhanced purchase intent through influencer engagement, email newsletters, and LINE
- Improved cost structure through optimized advertising expenses and consolidation of 18 stores
- Upfront investment in productivity improvement through enhanced hiring and training of sales staff
Risks
- Heightened consumer cost-consciousness amid continued price inflation and intensifying cross-format competition
- Upward pressure on personnel expenses from increased upfront investment in human capital expansion (hiring and training)
- Uncertainty over the economic outlook and deterioration in consumer sentiment due to U.S. tariff policy effects and international conditions
- Rising procurement costs due to soaring raw material and energy prices and the weak yen trend
- Risk of additional contract liabilities from a rising usage rate of proprietary loyalty points
- Risk of additional allowance for doubtful accounts due to reduced collectability of certain trade receivables
Last updated: June 23, 2026