Interim report
Page 1
Consolidated Financial Results for the Fiscal Year Ended August 31, 2026 (Under Japanese GAAP) October 14, 2026 Company name: Ryohin Keikaku Co., Ltd. Stock exchange listings: Tokyo Prime Securities code: 7453 URL: https://www.ryohin-keikaku.jp/eng/ Representative: Satoshi Shimizu, President and Representative Director Inquiries: Kenta Hochido, Executive Officer in supervision of Corporate Planning Office Tel: +81-3-6699-7358 Date of general shareholders' meeting (as planned): November 23, 2026 Dividend payable date (as planned): November 24, 2026 Annual securities report filing date (as planned): November 20, 2026 Supplemental material of annual results: Yes Convening briefing of annual results: Yes (For securities analysts) (Yen amounts are rounded down to millions, unless otherwise noted.) 1. Consolidated financial results for the fiscal year ended August 31, 2026 (from September 1, 2025 to August 31, 2026) (1) Consolidated operating results (Percentages indicate year-on-year changes.) Operating revenues Operating profit Ordinary profit Profit attributable to owners of parent Fiscal year ended Millions of yen % Millions of yen % Millions of yen % Millions of yen % August 31, 2026 923,592 17.7 103,436 40.1 104,670 44.8 76,422 50.3 August 31, 2025 784,629 18.6 73,840 31.5 72,301 29.6 50,846 22.3 Note: Comprehensive income: For the fiscal year ended August 31, 2026: 96,515 Millions of yen (96.7%) For the fiscal year ended August 31, 2025: 49,066 Millions of yen (22.3%) Basic earnings per share Diluted earnings per share Rate of return on equity Ordinary profit to total assets ratio Operating profit to operating revenues ratio Fiscal year ended Yen Yen % % % August 31, 2026 143.98 143.84 20.6 17.0 11.2 August 31, 2025 95.92 95.81 16.3 13.5 9.4 Reference: Investment profit (loss) on equity method: For the fiscal year ended August 31, 2026: －Millions of yen For the fiscal year ended August 31, 2025: －Millions of yen Note: As of September 1, 2025, the Company’s common shares were split at a ratio of 2-for-1. Thus, the earnings per share and diluted earnings per share were calculated assuming that said stock split was conducted at the beginning of the previous fiscal year. (2) Consolidated financial position Total assets Net assets Capital adequacy ratio Net assets per share As of Millions of yen Millions of yen % Yen August 31, 2026 672,299 419,265 61.1 773.33 August 31, 2025 562,749 335,920 59.0 625.38 Reference: Owner's equity: As of August 31, 2026: 410,707 Millions of yen As of August 31, 2025: 331,747 Millions of yen Note: As of September 1, 2025, the Company’s common shares were split at a ratio of 2-for-1. Thus, the net assets per share were calculated assuming that said stock split was conducted at the beginning of the previous fiscal year. (3) Consolidated cash flows Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Cash and equivalents, end of period Fiscal year ended Millions of yen Millions of yen Millions of yen Millions of yen August 31, 2026 99,396 (30,124) (43,771) 169,188 August 31, 2025 73,355 (40,931) (22,120) 135,359
Page 2
2. Cash dividends Dividend per share Total dividend paid Payout ratio (consolidated) Ratio of total amount of dividends to net assets (consolidated ) First quarter Second quarter Third quarter Year end Annual Yen Yen Yen Yen Yen Millions of yen % % Fiscal year ended August 31, 2025 － 22.00 － 28.00 50.00 13,881 26.1 4.2 Fiscal year ended August 31, 2026 － 16.00 － 22.00 38.00 21,103 26.4 5.4 Fiscal year ending August 31, 2027 (Forecast) － 19.00 － 19.00 38.00 27.6 Note: As of September 1, 2025, the Company’s common shares were split at a ratio of 2-for-1. The actual dividends paid before the stock split are noted for the fiscal year ended August 31, 2025. The figures after the stock split are presented for the fiscal year ended August 31, 2026, and the fiscal year ending August 31, 2027 (forecast). 3. Consolidated financial forecast for the fiscal year ending August 31, 2027 (from September 1, 2026 to August 31, 2027) (Percentages indicate year-on-year changes.) Operating revenues Operating profit Ordinary profit Profit attributable to owners of parent Basic earnings per share Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen Fiscal year ending August 31, 2027 1,014,000 9.8 114,000 10.2 111,000 6.0 73,000 (4.5) 137.45 * Notes (1) Significant changes in the scope of consolidation during the period: Yes Newly included: 1 company (Company name) MUJI ENERGY LLC, Excluded: - companies (Company name) - (2) Changes in accounting policies, changes in accounting estimates, and restatement (i) Changes in accounting policies due to revisions to accounting standards and other regulations: None (ii) Changes in accounting policies due to other reasons: None (iii) Changes in accounting estimates : None (iv) Restatement : None (3) Number of issued shares (common shares) (1) Number of issued and outstanding shares at the end of fiscal year (including treasury stock) As of August 31, 2026 561,560,000 shares As of August 31, 2025 561,560,000 shares (2) Number of treasury stock at the end of fiscal year As of August 31, 2026 30,470,640 shares As of August 31, 2025 31,084,078 shares (3) Average number of shares Fiscal year ended August 31, 2026 530,799,661 shares Fiscal year ended August 31, 2025 530,098,653 shares Notes 1. See “Notes to per share information” on page 17 of the Attached Materials for the number of shares based on which net assets per share, earnings per share, and diluted earnings per share are calculated. 2. As of September 1, 2025, the Company’s common shares were split at a ratio of 2-for-1. Thus, the number of issued and outstanding shares at the end of fiscal year, number of treasury stock at the end of fiscal year, and average number of shares were calculated assuming that said stock split was conducted at the beginning of the previous fiscal year.
Page 3
[Reference] Overview of non-consolidated financial results Non-consolidated financial results for the fiscal year ended August 31, 2026 (from September 1, 2025 to August 31, 2026) (1) Non-consolidated operating results (Percentages indicate year-on-year changes.) Operating revenues Operating profit Ordinary profit Profit Fiscal year ended Millions of yen % Millions of yen % Millions of yen % Millions of yen % August 31, 2026 621,830 11.4 52,117 39.5 81,233 49.6 62,666 43.2 August 31, 2025 558,435 18.9 37,348 20.0 54,303 27.6 43,770 17.2 Basic earnings per share Diluted earnings per share Fiscal year ended Yen Yen August 31, 2026 118.06 117.95 August 31, 2025 82.57 82.47 Note: As of September 1, 2025, the Company’s common shares were split at a ratio of 2-for-1. Thus, the earnings per share and diluted earnings per share were calculated assuming that said stock split was conducted at the beginning of the previous fiscal year. (2) Non-consolidated financial position Total assets Net assets Capital adequacy ratio Net assets per share As of Millions of yen Millions of yen % Yen August 31, 2026 458,524 332,760 72.5 625.99 August 31, 2025 402,267 278,492 69.1 524.34 Reference: Owner's equity: As of August 31, 2026: 332,456 Millions of yen As of August 31, 2025: 278,148 Millions of yen Note: As of September 1, 2025, the Company’s common shares were split at a ratio of 2-for-1. Thus, the net assets per share were calculated assuming that said stock split was conducted at the beginning of the previous fiscal year. * Financial results reports are exempt from audit conducted by certified public accountants or an audit firm. * Proper use of earnings forecasts, and other special matters Forward-looking statements in these materials are based on information available to the management at the time of preparation of this report and on assumptions that management believes are reasonable, and actual business performance, etc. may differ significantly due to various factors. For the assumptions on which earnings forecasts are based and notes on the use of earnings forecasts, see 1. Overview of Business Results, etc. (4) Future Outlook on page 5 of the Attached Materials.
Page 4
- 1 - ○ Table of Contents of Attached Materials 1. Overview of Business Results, etc. ………………………………………………………………………………………….. 2 (1) Overview of Business Results for Fiscal Year Under Review …………………………………………………………... 2 (2) Overview of Financial Conditions for Fiscal Year Under Review ………………………………………………………. 3 (3) Overview of Cash Flows for Fiscal Year Under Review ………………………………………………………………... 4 (4) Future Outlook …………………………………………………………………………………………………………... 5 2. Basic Approach to the Selection of Accounting Standards ………………………………………………………………….. 5 3. Consolidated Financial Statements ………………………………………………………………………………………….. 6 (1) Consolidated Balance Sheets ……………………………………………………………………………………………. 6 (2) Consolidated Statements of Income and Comprehensive Income ………………………………………………………. 8 Consolidated Statements of Income …………………………………………………………………………………. 8 Consolidated Statements of Comprehensive Income ……………………………………………………………….. 9 (3) Consolidated Statement of Changes in Net Assets ………………………………………………………………………. 10 (4) Consolidated Statements of Cash Flows ………………………………………………………………………………… 12 (5) Notes to Consolidated Financial Statements …………………………………………………………………………….. 14 (Notes to going concern assumption) ………………………………………………………………………………….. 14 (Notes to segment information, etc.) …………………………………………………………………………………… 14 (Notes to per share information) ……………………………………………………………………………………….. 17 (Notes to important subsequent events) ………………………………………………………………………………... 18
Page 5
- 2 - 1. Overview of Business Results, etc. (1) Overview of Business Results for Fiscal Year Under Review The Ryohin Keikaku Group has been strengthening store development and merchandise supply structure in Japan and overseas based on its Corporate Purpose to contribute to the realization of “Well-being Life and Society” through our products, services, stores and business activities; believing “human society rich in heart, with balanced relationship between human, nature and artifacts.” The Ryohin Keikaku Group’s operating results for the fiscal year ended August 31, 2026, are as follows. Operating revenue 923,592 million yen (up 17.7% from the same period a year ago) Operating profit 103,436 million yen (up 40.1% from the same period a year ago) Ordinary profit 104,670 million yen (up 44.8% from the same period a year ago) Net income attributable to owners of parent 76,422 million yen (up 50.3% from the same period a year ago) Operating revenue as well as profits at all levels rose from a year earlier and reached record highs partly thanks to the contribution from the weaker yen in addition to the growth of overseas business. Operating revenue rose owing to growth in sales especially in the overseas business and also due to the increase in the number of stores as the Company opened new stores in Japan and abroad. Operating profit exceeded 100 billion yen for the first time and operating profit margin came to 11.2% as a result of improvement in operating gross profit margin thanks to cost reduction achieved by internalizing the production system and limiting rates of discounts. In addition to the increase in operating profit, net income attributable to owners of parent rose due partly to foreign exchange gains, sale of cross-shareholdings, and a foreign subsidiary’s recording of deferred tax assets based on expected taxable income in the future. Taking into consideration the growth in business performance, the Company now expects to pay year-end dividend of 22 yen per share, which would increase annual dividend to 38 yen per share, compared to the forecast of 32 yen per share. This would be 13 yen higher than the 25 yen per share annual dividend for the previous fiscal year when calculated using the number of shares after the stock split. The number of MUJI stores (including licensed stores) in Japan and overseas totaled 1,486 as of August 31, 2026. In the Japan business, the Company opened 50 stores primarily in residential areas in the suburbs and closed 10 stores. As a result, the number of stores totaled 723. In the overseas business, it opened 71 stores and closed 37 stores mainly in the East Asia and Asia East / South & Oceania businesses, bringing the total number of stores to 763. The Company resumed opening new stores also in North America. Operating results by segment are as follows. (i) Japan Business Operating revenue from the Japan business during the period under review totaled 510,993 million yen (up 8.7% from a year earlier) and segment profit came to 63,390 million yen (up 21.6%), resulting in increases in both revenue and profit. Besides the effect of opening new stores, operating revenue increased owing to successful seasonal promotional measures such as MUJI Week, Good Price Festival during the New Year holidays, and Good Point Week, during which the Company rewarded customers with five times the regular points. While sales at existing stores increased, online sales declined due to the impact of system disruption in the first half. Nevertheless, combined sales exceeded the previous fiscal year. Segment profit increased as profitability improved thanks to contributions from improved efficiency of store operations as well as cost reduction achieved by internalizing the production system and limiting rates of discounts. (ii) East Asia Business Operating revenue from the East Asia business during the period under review totaled 293,783 million yen (up 32.2% from a year earlier) and segment profit came to 61,690 million yen (up 44.2%), resulting in increases in both revenue and profit. Sales increased in all segments led by household goods and food in the mainland China business. In addition to the improvement in operating profit margin, segment profit rose as SG&A ratio improved reflecting sales growth. Further, sales of the businesses in Taiwan, Hong Kong, and South Korea also grew and the segment registered rises in both sales and profit. (iii) Asia East / South & Oceania Business Operating revenue from the Asia East / South & Oceania business during the period under review totaled 66,519 million yen (up 32.8% from a year earlier) and segment profit came to 9,163 million yen (up 64.1%), resulting in increases in both revenue and profit. Sales increased reflecting opening of new stores led by flagship stores in the Thai and Vietnamese businesses and expansion
Page 6
- 3 - of product lineup as well as improvement of sales floor and revision of sales plans in each region. Segment profit rose as SG&A ratio improved due to sales growth. (iv) Europe & Americas Business Operating revenue from the Europe & Americas business during the period under review totaled 52,295 million yen (up 24.1% from a year earlier) and segment profit came to 8,097 million yen (up 17.0%), resulting in increases in both revenue and profit. Sales increased at the European and North American businesses thanks to strong sales at existing stores and online sales. Segment profit increased despite upfront expenses related to opening of a flagship store in Europe scheduled to open in the fiscal year ending August 31, 2027. [ESG initiatives] Under the principle “To contribute to society and people,” which has not changed since its founding, the Ryohin Keikaku Group aims to become a front runner of ESG management and offers merchandise and services giving due consideration to the society and natural environment and pursues initiatives that would have a positive impact on each region. ・Launch of Straight line apparel series that reduces fabric waste In August 2026, the Company launched Straight line apparel series, which reduces fabric waste. The products are designed using straight-line cutting, often seen in the clothing culture of Asia, which utilizes fabric with minimum waste. The loose- fitting silhouettes with creative sewing and structures make the clothes easy to wear for anyone, irrespective of the body shape. The lineup uses materials that give consideration to the society and environment such as organic cotton and recycled polyester. ・Sale of Japanese and Indian used furniture The Company launched the sale of Japanese used furniture in June 2026 and Indian used furniture in the following August at eight limited stores for each series. It selects furniture and tools collected from traditional Japanese houses around Japan and those long used mainly in North India and carry out preservation and repair works so as to reintroduce them into modern living. By reintroducing used furniture instead of disposing them and using them over a long period of time, the Company aims to inherit the history and local culture etched in them and pass them on to future generations. ・Launch of Helmets Created by Helmet for Everyone Project Established in 2024, the Helmet for Everyone Project is a joint initiative by the Metropolitan Police Department, Aoyama Gakuin University, Yamano Beauty College, and the Company. Aiming to increase the usage rate of bicycle helmet, the project members exchanged views on the factors that discourage helmet use such as their impact on hairstyle and the hassles of wearing one, along with examining ideas for helmets that could be comfortably adopted in daily lives. The project finally bore fruit with the Company releasing the helmet that passes air and gives due consideration to breathability, hairstyle, fit, and ease of wearing in August 2026. Along with the helmets, it also introduced 20-inch bicycles in five colors, the same color lineup as the helmets. We will continue to make proposals that would make riding bicycles safer and more comfortable. (2) Overview of Financial Conditions for Fiscal Year Under Review As of August 31, 2026, total assets of the Ryohin Keikaku Group stood at 672,299 million yen, up 109,550 million yen from the end of the previous fiscal year. This was primarily due to a 33,748 million yen increase in cash and deposits, a 35,569 million yen increase in merchandise, and a 20,648 million yen increase in property, plant and equipment. Liabilities totaled 253,034 million yen, up 26,206 million yen from the end of the previous fiscal year. This was primarily due to a 7,234 million yen increase in accounts payable - trade, a 10,000 million yen decrease in current portion of long-term borrowings, a 14,474 million yen increase in income taxes payable, and a 9,602 million yen increase in lease liabilities. Net assets came to 419,265 million yen, up 83,344 million yen from the end of the previous fiscal year. This was primarily owing to a 59,763 million yen increase in retained earnings, a 9,108 million yen increase in deferred gains or losses on hedges, and a 10,894 million yen increase in foreign currency translation adjustment. As a result, consolidated shareholders’ equity ratio came to 61.1% compared with 59.0% at the end of the previous fiscal year.
Page 7
- 4 - (3) Overview of Cash Flows for Fiscal Year Under Review Consolidated cash and cash equivalents (hereinafter referred to as the “Funds”) at the end of the fiscal year under review were 169,188 million yen, an increase of 33,828 million yen from the end of the previous fiscal year, as a result of operating activities, investing activities including new store opening, and financial activities. [Cash flows from operating activities] Net Funds provided by operating activities were 99,396 million yen (73,355 million yen of inflow a year earlier). This mainly reflected the 102,683 million yen in net income before income taxes. [Cash flows from investing activities] Net Funds used in investing activities were 30,124 million yen (40,931 million yen of outflow a year earlier). This is primarily a result of 21,730 million yen in purchase of property, plant and equipment including stores and 9,613 million yen in purchase of intangible assets such as investment in software. [Cash flows from financing activities] Net Funds used in financing activities were 43,771 million yen (22,120 million yen of outflow a year earlier). This is primarily a result of 11,518 million yen in repayments of long-term borrowings, 15,360 million yen in repayments of lease liabilities, and 16,654 million yen in dividends paid. (Reference) Trends of key cash flow indicators Fiscal year ended August 31, 2022 Fiscal year ended August 31, 2023 Fiscal year ended August 31, 2024 Fiscal year ended August 31, 2025 Fiscal year ended August 31, 2026 Year-end Year-end Year-end Year-end Year-end Shareholders’ equity ratio (%) 60.5 58.1 57.5 59.0 61.1 Shareholders’ equity ratio at market value (%) 85.9 109.5 142.4 300.5 341.9 Cash flow to interest- bearing debt ratio (years) 3.27 1.69 1.57 1.39 0.96 Interest coverage ratio (times) 17.3 34.4 27.1 27.6 33.0 Shareholders’ equity ratio : Shareholders’ equity / Total assets Shareholders’ equity ratio at market value : Market capitalization / Total assets Cash flow to interest-bearing debt ratio : Interest-bearing debts / Cash flows Interest coverage ratio : Cash flows / Interest payments (Notes) 1. All indicators are calculated based on consolidated financial statements. 2. Market capitalization is calculated by multiplying the closing share price at the end of the period by total number of issued shares at the end of the period (net of treasury shares). 3. The amount of cash flows is that of cash flows from operating activities. 4. Interest-bearing debts refer to all liabilities bearing interest and reported on the consolidated balance sheet. The amount of interest payments is the amount of interest expenses presented in the consolidated statement of cash flows.
Page 8
- 5 - (4) Future Outlook As for the future outlook, the economic prospects are expected to remain unclear given the increasing geopolitical instability, rising prices, and uncertainties surrounding supply and prices of fuel and raw materials. In this environment, the Ryohin Keikaku Group, as a retailer contributing globally to the realization of “Well-being Life and Society,” will strive for the best product development, procurement, and store expansion through the support and participation of the local communities. At the same time, the Group will continue to manufacture products with a focus on true quality as it has been doing since its inception in 1980. The outlook of the business performance of the Ryohin Keikaku Group for the next fiscal year is as follows. - Outlook of business performance for the fiscal year ending August 31, 2027 Operating revenue 1,014,000 million yen Operating profit 114,000 million yen Ordinary profit 111,000 million yen Net income attributable to owners of parent 73,000 million yen Operating revenue and operating profit are both expected to reach record highs for the fourth consecutive fiscal year. The Company expects operating revenue to exceed 1 trillion yen, mainly due to the growth in the sales of existing stores in Japan business and overseas business and the increase in the number of stores. Operating profit is forecasted to increase mainly due to cost reductions through in-house production and a higher sales composition ratio of overseas business, despite the expected impact of the weaker yen, rising raw material prices and upfront investments in Europe & Americas Business. Net income attributable to owners of parent is forecasted to decrease year on year, due to the absence of one-time gains recorded in this fiscal year. 2. Basic Approach to the Selection of Accounting Standards The Ryohin Keikaku Group prepares its consolidated financial statements based on the Japanese standards to ensure comparability of consolidated financial statements over time and comparability with other businesses.
Page 9
- 6 - 3. Consolidated Financial Statements (1) Consolidated Balance Sheets (Millions of yen) As of August 31, 2025 As of August 31, 2026 Assets Current assets Cash and deposits 134,926 168,675 Notes and accounts receivable - trade 18,024 24,764 Merchandise 169,766 205,335 Work in process 129 204 Supplies 88 126 Accounts receivable - other 19,685 17,061 Other 24,453 31,351 Allowance for doubtful accounts (6) (18) Total current assets 367,068 447,501 Non-current assets Property, plant and equipment Buildings and structures 101,579 119,925 Accumulated depreciation (54,172) (63,964) Buildings and structures, net 47,407 55,961 Machinery, equipment and vehicles 6,521 8,545 Accumulated depreciation (4,963) (5,080) Machinery, equipment and vehicles, net 1,558 3,464 Tools, furniture and fixtures 36,503 39,014 Accumulated depreciation (25,344) (26,951) Tools, furniture and fixtures, net 11,159 12,062 Land 930 977 Leased assets 76 76 Accumulated depreciation (57) (64) Leased assets, net 19 11 Right-of-use assets 92,631 115,591 Accumulated depreciation (47,177) (60,943) Right-of-use assets, net 45,454 54,647 Construction in progress 3,400 3,453 Total property, plant and equipment 109,929 130,578 Intangible assets Goodwill 173 131 Software 40,155 37,075 Other 1,872 1,664 Total intangible assets 42,201 38,872 Investments and other assets Investment securities 2,841 － Deferred tax assets 2,186 6,666 Leasehold and guarantee deposits 27,668 29,172 Other 10,934 19,590 Allowance for doubtful accounts (80) (82) Total investments and other assets 43,549 55,348 Total non-current assets 195,680 224,798 Total assets 562,749 672,299
Page 10
- 7 - (Millions of yen) As of August 31, 2025 As of August 31, 2026 Liabilities Current liabilities Accounts payable - trade 56,402 63,636 Short-term borrowings 4,914 511 Current portion of long-term borrowings 10,000 － Lease liabilities 13,971 17,249 Accounts payable - other 18,476 20,851 Accrued expenses 12,368 14,043 Income taxes payable 3,427 17,902 Provision for bonuses 2,881 4,391 Provision for bonuses for directors (and other officers) 504 412 Other 11,742 11,071 Total current liabilities 134,689 150,070 Non-current liabilities Bonds payable 30,000 30,000 Long-term borrowings 1,824 305 Lease liabilities 41,417 47,740 Deferred tax liabilities 6,276 8,017 Provision for retirement benefits for directors (and other officers) 22 30 Provision for share awards 2,691 3,549 Other 9,907 13,320 Total non-current liabilities 92,138 102,964 Total liabilities 226,828 253,034 Net assets Shareholders' equity Share capital 6,766 6,766 Capital surplus 31,765 31,899 Retained earnings 300,771 360,534 Treasury shares (30,461) (29,771) Total shareholders' equity 308,841 369,428 Accumulated other comprehensive income Valuation difference on available-for-sale securities 1,631 － Deferred gains or losses on hedges 13,349 22,457 Foreign currency translation adjustment 7,925 18,820 Total accumulated other comprehensive income 22,906 41,278 Share acquisition rights 344 303 Non-controlling interests 3,828 8,254 Total net assets 335,920 419,265 Total liabilities and net assets 562,749 672,299
Page 11
- 8 - (2) Consolidated Statements of Income and Comprehensive Income Consolidated Statements of Income (Millions of yen) Fiscal year ended August 31, 2025 Fiscal year ended August 31, 2026 Operating revenue 784,629 923,592 Operating costs 381,653 435,901 Operating gross profit 402,975 487,691 Selling, general and administrative expenses 329,135 384,255 Operating profit 73,840 103,436 Non-operating income Interest income 627 615 Dividend income 90 － Sponsorship money income 14 9 Subsidy income 459 147 Foreign exchange gains － 3,214 Reversal of allowance for doubtful accounts 202 6 Other 889 732 Total non-operating income 2,284 4,724 Non-operating expenses Interest expenses 2,766 3,074 Foreign exchange losses 211 － Other 845 416 Total non-operating expenses 3,822 3,490 Ordinary profit 72,301 104,670 Extraordinary income Gain on sale of investment securities － 2,367 Gain on sale of non-current assets 1 5 Gain on change in lease terms 45 309 Compensation income 331 1,715 Total extraordinary income 379 4,398 Extraordinary losses Impairment losses 5,004 2,934 Loss on retirement of non-current assets 980 3,396 Loss on cancellation of rental contracts 541 － Other 195 55 Total extraordinary losses 6,722 6,386 Profit before income taxes 65,958 102,683 Income taxes - current 14,977 30,985 Income taxes - deferred 108 (6,125) Total income taxes 15,085 24,860 Profit 50,872 77,822 Profit attributable to non-controlling interests 26 1,400 Profit attributable to owners of parent 50,846 76,422
Page 12
- 9 - Consolidated Statements of Comprehensive Income (Millions of yen) Fiscal year ended August 31, 2025 Fiscal year ended August 31, 2026 Profit 50,872 77,822 Other comprehensive income Valuation difference on available-for-sale securities 288 (1,631) Deferred gains or losses on hedges (1,320) 9,108 Foreign currency translation adjustment (774) 11,215 Total other comprehensive income (1,806) 18,692 Comprehensive income 49,066 96,515 Comprehensive income attributable to Comprehensive income attributable to owners of parent 48,942 94,794 Comprehensive income attributable to non-controlling interests 123 1,721
Page 13
- 10 - (3) Consolidated Statement of Changes in Net Assets Fiscal year ended August 31, 2025 (from September 1, 2024 to August 31, 2025) (Millions of yen) Shareholders' equity Share capital Capital surplus Retained earnings Treasury shares Total shareholders' equity Balance at beginning of period 6,766 29,719 260,789 (29,272) 268,002 Changes during period Dividends of surplus (11,633) (11,633) Profit (loss) attributable to owners of parent 50,846 50,846 Purchase of treasury shares (2,753) (2,753) Disposal of treasury shares 2,045 1,564 3,610 Change in scope of consolidation － 768 768 Net changes in items other than shareholders' equity Total changes during period － 2,045 39,981 (1,188) 40,838 Balance at end of period 6,766 31,765 300,771 (30,461) 308,841 Accumulated other comprehensive income Share acquisition rights Non-controlling interests Total net assets Valuation difference on available-for- sale securities Deferred gains or losses on hedges Foreign currency translation adjustment Total accumulated other comprehensive income Balance at beginning of period 1,343 14,669 8,798 24,810 487 3,704 297,004 Changes during period Dividends of surplus (11,633) Profit (loss) attributable to owners of parent 50,846 Purchase of treasury shares (2,753) Disposal of treasury shares 3,610 Change in scope of consolidation 768 Net changes in items other than shareholders' equity 288 (1,320) (872) (1,904) (142) 124 (1,922) Total changes during period 288 (1,320) (872) (1,904) (142) 124 38,915 Balance at end of period 1,631 13,349 7,925 22,906 344 3,828 335,920
Page 14
- 11 - Fiscal year ended August 31, 2026 (from September 1, 2025 to August 31, 2026) (Millions of yen) Shareholders' equity Share capital Capital surplus Retained earnings Treasury shares Total shareholders' equity Balance at beginning of period 6,766 31,765 300,771 (30,461) 308,841 Changes during period Dividends of surplus (16,659) (16,659) Profit (loss) attributable to owners of parent 76,422 76,422 Purchase of treasury shares (1) (1) Disposal of treasury shares 133 691 825 Net changes in items other than shareholders' equity Total changes during period － 133 59,763 690 60,587 Balance at end of period 6,766 31,899 360,534 (29,771) 369,428 Accumulated other comprehensive income Share acquisition rights Non-controlling interests Total net assets Valuation difference on available-for- sale securities Deferred gains or losses on hedges Foreign currency translation adjustment Total accumulated other comprehensive income Balance at beginning of period 1,631 13,349 7,925 22,906 344 3,828 335,920 Changes during period Dividends of surplus (16,659) Profit (loss) attributable to owners of parent 76,422 Purchase of treasury shares (1) Disposal of treasury shares 825 Net changes in items other than shareholders' equity (1,631) 9,108 10,894 18,371 (40) 4,425 22,756 Total changes during period (1,631) 9,108 10,894 18,371 (40) 4,425 83,344 Balance at end of period － 22,457 18,820 41,278 303 8,254 419,265
Page 15
- 12 - (4) Consolidated Statements of Cash Flows (Millions of yen) Fiscal year ended August 31, 2025 Fiscal year ended August 31, 2026 Cash flows from operating activities Profit before income taxes 65,958 102,683 Depreciation 24,830 29,365 Amortization Of Software And Others 7,425 9,067 Amortization of goodwill 49 41 Increase (decrease) in allowance for doubtful accounts (9,568) 14 Increase (decrease) in provision for bonuses for directors (and other officers) 269 (92) Increase (decrease) in provision for retirement benefits for directors (and other officers) (11) 7 Interest and dividend income (718) (615) Interest expenses 2,766 3,074 Foreign exchange losses (gains) (144) (1,344) Loss (gain) on sale of investment securities － (2,367) Gain on sale of non-current assets (1) (5) Loss on retirement of non-current assets 980 3,396 Impairment losses 5,004 2,934 Decrease (increase) in trade receivables 8,399 (3,120) Decrease (increase) in inventories (15,455) (26,794) Increase (decrease) in trade payables (3,307) 2,582 Decrease (increase) in other assets (1,361) (1,594) Increase (decrease) in other liabilities 10,232 204 Other, net 1,117 1,302 Subtotal 96,465 118,740 Interest and dividends received 714 613 Interest paid (2,657) (3,010) Income taxes paid (21,166) (16,948) Net cash provided by (used in) operating activities 73,355 99,396 Cash flows from investing activities Payments into time deposits (1,502) (28) Proceeds from withdrawal of time deposits 1,460 － Purchase of property, plant and equipment (23,319) (21,730) Proceeds from sale of property, plant and equipment 31 51 Purchase Of Leasehold Rights, Lease deposits And Others (2,668) (1,982) Collection Of Lease deposits And Others 1,195 1,286 Purchase of intangible assets (15,007) (9,613) Proceeds from sale of investment securities － 2,857 Other, net (1,121) (965) Net cash provided by (used in) investing activities (40,931) (30,124)
Page 16
- 13 - (Millions of yen) Fiscal year ended August 31, 2025 Fiscal year ended August 31, 2026 Cash flows from financing activities Net increase (decrease) in short-term borrowings (367) (4,429) Proceeds from long-term borrowings 2,754 － Repayments of long-term borrowings (929) (11,518) Repayments of lease liabilities (12,868) (15,360) Proceeds from share issuance to non-controlling shareholders 45 2,704 Proceeds from sale of treasury shares 925 1,487 Dividends paid (11,634) (16,654) Other, net (45) (1) Net cash provided by (used in) financing activities (22,120) (43,771) Effect of exchange rate change on cash and cash equivalents (296) 8,328 Net increase (decrease) in cash and cash equivalents 10,007 33,828 Cash and cash equivalents at beginning of period 125,527 135,359 Decrease in cash and cash equivalents resulting from exclusion of subsidiaries from consolidation (175) － Cash and cash equivalents at end of period 135,359 169,188
Page 17
- 14 - (5) Notes to Consolidated Financial Statements (Notes to going concern assumption) Not applicable (Notes to segment information, etc.) [Segment information] 1. Overview of reportable segments The reportable segments of the Ryohin Keikaku Group are defined as components of the Group regarding which separate financial information is available that is evaluated regularly by the Board of Directors in deciding how to allocate management resources and in assessing performance. The Group formulates its strategy and conducts business activities with the MUJI business as its main business and the Japan business, East Asia business, Asia East / South & Oceania business, and Europe & Americas business as its main reportable segments. The businesses categorized into each reportable segment are as follows. The Japan business: Sales of merchandise at stores and via internet in Japan, procurement logistics in Japan, etc. The East Asia business: Sales of merchandise and restaurant business in East Asia The Asia East / South & Oceania business: Sales of merchandise and restaurant business in Southeast Asia and Oceania The Europe & Americas business: Sales of merchandise and restaurant business in Europe and Americas 2. Calculation method for operating revenue, profit or loss, assets, and other items by reportable segment Methods of accounting for reportable business segments are conforming to the accounting methods used for preparing consolidated financial statements. The segment profits are the figures based on operating profit. Inter-segment operating revenue and transfers are based on prevailing market prices.
Page 18
- 15 - 3. Information regarding operating revenue, profit or loss, assets, and other items by reportable segment and disaggregated revenue information Fiscal year ended August 31, 2025 (from September 1, 2024 to August 31, 2025) (million yen) Reporting segments Others (Note 1) Adjustments (Note 2) Amount recorded in consolidated financial statements (Note 3) Japan Business East Asia Business Asia East / South & Oceania Business Europe & Americas Business Total Operating revenue Net sales of merchandise and finished goods 465,986 221,803 49,979 42,095 779,864 － － 779,864 Operating revenue 4,156 443 125 38 4,764 － － 4,764 Revenue from contracts with customers 470,143 222,247 50,105 42,133 784,629 － － 784,629 Net sales from external customers 470,143 222,247 50,105 42,133 784,629 － － 784,629 (1) Operating revenue from external customers 470,143 222,247 50,105 42,133 784,629 － － 784,629 (2) Inter-segment operating revenue or transfers － － － － － 1,401 (1,401) － Total 470,143 222,247 50,105 42,133 784,629 1,401 (1,401) 784,629 Segment profit 52,111 42,794 5,584 6,922 107,412 73 (33,645) 73,840 Segment assets 145,614 144,730 48,771 37,628 376,745 1,022 184,981 562,749 Other items Depreciation 5,577 11,350 6,464 2,102 25,493 91 6,671 32,256 Increase in property, plant and equipment and intangible assets (Note 4) 12,922 21,214 12,885 2,042 49,064 194 13,674 62,934 (Notes) 1. “Other” represents business segments that do not fall under the reporting segments and it includes the global procurement business. 2. The content of the adjustments is as follows. (1) The adjustments of the segment profit of minus 33,645 million yen include corporate expenses that have not been distributed to each reporting segment. Corporate expenses are mainly general and administrative expenses that are not attributable to reporting segments. (2) The 184,981 million yen adjustment of the segment assets includes corporate assets of 185,316 million yen and inter-segment elimination of minus 334 million yen. *Corporate assets are mainly surplus funds for management (cash and deposits) at the parent company and non-current assets not distributed to each segment. 3. Segment profit is adjusted with operating profit reported on the consolidated statement of income. 4. Increases in property, plant and equipment and intangible assets include increases in leasehold and guarantee deposits as well as right-of-use assets.
Page 19
- 16 - Fiscal year ended August 31, 2026 (from September 1, 2025 to August 31, 2026) (million yen) Reporting segments Others (Note 1) Adjustments (Note 2) Amount recorded in consolidated financial statements (Note 3) Japan Business East Asia Business Asia East / South & Oceania Business Europe & Americas Business Total Operating revenue Net sales of merchandise and finished goods 506,785 293,506 66,354 52,244 918,891 － － 918,891 Operating revenue 4,208 277 164 50 4,701 － － 4,701 Revenue from contracts with customers 510,993 293,783 66,519 52,295 923,592 － － 923,592 Net sales from external customers 510,993 293,783 66,519 52,295 923,592 － － 923,592 (1) Operating revenue from external customers 510,993 293,783 66,519 52,295 923,592 － － 923,592 (2) Inter-segment operating revenue or transfers 0 16 － － 16 2,427 (2,443) － Total 510,994 293,800 66,519 52,295 923,609 2,427 (2,443) 923,592 Segment profit 63,390 61,690 9,163 8,097 142,342 140 (39,046) 103,436 Segment assets 151,345 186,573 59,131 55,068 452,119 1,442 218,738 672,299 Other items Depreciation 5,955 13,887 7,535 2,732 30,110 132 8,189 38,432 Increase in property, plant and equipment and intangible assets (Note 4) 10,872 15,892 7,659 10,906 45,330 333 8,307 53,972 (Notes) 1. “Other” represents business segments that do not fall under the reporting segments and it includes the global procurement business. 2. The content of the adjustments is as follows. (1) The adjustments of the segment profit of minus 39,046 million yen include corporate expenses that have not been distributed to each reporting segment. Corporate expenses are mainly general and administrative expenses that are not attributable to reporting segments. (2) The 218,738 million yen adjustment of the segment assets includes corporate assets of 218,968 million yen and inter-segment elimination of minus 230 million yen. *Corporate assets are mainly surplus funds for management (cash and deposits) at the parent company and non-current assets not distributed to each segment. 3. Segment profit is adjusted with operating profit reported on the consolidated statement of income. 4. Increases in property, plant and equipment and intangible assets include increases in leasehold and guarantee deposits as well as right-of-use assets. 4. Matters regarding changes to reporting segments, etc. Not applicable
Page 20
- 17 - (Notes to per share information) Item Fiscal year ended August 31, 2025 (from September 1, 2024 to August 31, 2025) Fiscal year ended August 31, 2026 (from September 1, 2025 to August 31, 2026) Net assets per share (yen) 625.38 773.33 Earnings per share (yen) 95.92 143.98 Diluted earnings per share (yen) 95.81 143.84 (Notes) 1. As of September 1, 2025, the Company’s common shares were split at a ratio of 2-for-1. Thus, the net assets per share, earnings per share and diluted earnings per share were calculated assuming that said stock split was conducted at the beginning of the previous fiscal year. 2. Earnings per share and diluted earnings per share were calculated based on the figures below. Fiscal year ended August 31, 2025 (from September 1, 2024 to August 31, 2025) Fiscal year ended August 31, 2026 (from September 1, 2025 to August 31, 2026) Earnings per share Net income attributable to owners of parent (million yen) 50,846 76,422 Profit not attributable to common shareholders (million yen) － － Net income attributable to owners of parent related to common stock (million yen) 50,846 76,422 Average number of shares during the period (1,000 shares) 530,098 530,799 Diluted earnings per share Adjustments to net income attributable to owners of parent (million yen) － － Increase in number of shares in common stock (1,000 shares) 631 492 (Of which, share acquisition rights) (631) (492) Outline of dilutive shares not included in calculation of diluted earnings per share due to absence of dilutive effects － － (Notes) 1. Shares in the Company held by financial institutions are included in the treasury shares to be deducted from the calculation of the average number of shares in common stock during the period in accordance with the Employee Stock Ownership Plan and the Ryohin Keikaku Employee Stock Holding Exclusive Trust (E-Ship Trust). 2. In the fiscal year ended August 31, 2025, the average number of shares in the Company held as the said funds, etc. include 23,103 thousand shares in the Company held by Mizuho Trust & Banking Co., Ltd. and Sumitomo Mitsui Trust Bank, Limited as the Employee Stock Ownership Plan, and 1,601 thousand shares in the Company held by The Nomura Trust and Banking Co. Ltd. as E-Ship Trust. 3. In the fiscal year ended August 31, 2026, the average number of shares in the Company held as the said funds, etc. include 23,040 thousand shares in the Company held by Mizuho Trust & Banking Co., Ltd. and Sumitomo Mitsui Trust Bank, Limited as the Employee Stock Ownership Plan, and 1,485 thousand shares in the Company held by The Nomura Trust and Banking Co. Ltd. as E-Ship Trust.
Page 21
- 18 - 3. Net assets per share were calculated based on the figures below. Fiscal year ended August 31, 2025 Fiscal year ended August 31, 2026 Total amount of net assets (million yen) 335,920 419,265 Amount to be deducted from the total amount of net assets (million yen) 4,173 8,558 (Of which, share acquisition rights [million yen]) (344) (303) (Of which, non-controlling interests [million yen]) (3,828) (8,254) Net assets related to common stock at end of period (million yen) 331,747 410,707 Number of shares in common stock at end of period used for calculation of net assets per share (1,000 shares) 530,475 531,089 (Note) 1. The treasury shares to be deducted from the calculation of the number of shares in common stock at end of period used for calculation of net assets per share for the fiscal year ended August 31, 2025, include 23,081 thousand shares in the Company held by Mizuho Trust & Banking Co., Ltd. and Sumitomo Mitsui Trust Bank, Limited as the Employee Stock Ownership Plan, and 1,699 thousand shares in the Company held by The Nomura Trust and Banking Co. Ltd. as E-Ship Trust. 2. The treasury shares to be deducted from the calculation of the number of shares in common stock at end of period used for calculation of net assets per share for the fiscal year ended August 31, 2026, include 22,998 thousand shares in the Company held by Mizuho Trust & Banking Co., Ltd. and Sumitomo Mitsui Trust Bank, Limited as the Employee Stock Ownership Plan, and 1,267 thousand shares in the Company held by The Nomura Trust and Banking Co. Ltd. as E-Ship Trust. (Notes to important subsequent events) Not applicable