Trial Holdings (Trial, Seiyu)

The Japan read

From the company's own filing for Full year to June 2026 · reported 2026-08-13 · the filing ↗

• StoresTrial bought all of Seiyu on 1 July 2025 and consolidated it for the whole year. Seiyu added ¥461.0bn of sales and ¥13.8bn of operating profit (a 3.0% margin), the company says. 245 Seiyu stores joined the group; after one opening and three closures there were 243 at year-end.
• JapanExisting-store sales at Trial's own stores rose 2.1% for the year and 3.9% in April–June. Seiyu's existing-store sales have beaten the previous year every month since October 2025, ten months in a row including July 2026, and its customer numbers were up more than 10% in May, the company says.
• StoresTrial opened 3 Mega Centers, 21 Supercenters, 2 smart and 7 small stores and closed 7 smart stores, ending with 378 (3 of them franchised); the group had 621. It converted three Seiyu stores into a new 'Trial Seiyu' format and opened a fourth, in Urayasu, Chiba, on 10 July 2026.
• JapanAn earthquake in Kumamoto on 28 July 2026 damaged stores and warehouses and cut power and gas; as of 13 August some group stores and facilities were still closed. The company says it is still assessing the damage and cannot yet estimate the effect on this year's results.

Other callouts in the filing

• One-offNet income fell 70.0% to ¥3.5bn. The company lists the Seiyu deal's costs: about ¥15.3bn of goodwill amortisation (goodwill of ¥306.6bn, written off over 20 years), about ¥4.0bn of acquisition-loan interest, and one-off advisory (¥2.4bn), bridge-loan (¥1.2bn) and refinancing (¥5.5bn) fees.
• OutlookFor the year to June 2027 it forecasts sales of ¥1,458.2bn (+8.2%), operating profit of ¥39.0bn (+28.4%) and net income of ¥10.7bn (+203.8%). It plans heavier investment in Seiyu, including more staff, which it says will cut Seiyu's own profit for a time.

floortok's reading of the filing, in our own words. Figures are the company's own; where a growth rate is our arithmetic, it says so.