revenue
187600 $million
FY 2027
official guidance
WACOAL HOLDINGS CORP. · 株式会社ワコールホールディングス
Last · Tokyo¥3536.00-8.00 (-0.23%)close · yahoo · 7h ago
Market cap¥174.8B49.4M sh
P/E · TTM129fwd 8.1 · eps 27.43
Beta0.17vs S&P 500
Div yield2.80%annual · TTM
52w range
¥3486.00¥5842.00
Volume11.4Ksession
| Revenue | ¥171.5B |
|---|---|
| Operating income | ¥19.9B |
| Net income | ¥13.1B |
| Free cash flow | ¥4.4B |
| Operating margin | 11.6% |
| Net margin | 7.7% |
| Return on equity | 6.3% |
| Period | 2026 |
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OpenFilings analyst
Our analyst
Agentic read of the latest earnings call — recommendation updates when we process a new transcript. Research synthesis, not investment advice.
Strong BuyBuyHoldSellStrong Sell
Growth is encouraging, but earnings quality and execution remain unproven.
Hold: Q1 revenue rose 8.8% to ¥48.9bn, led by Glamorise and Europe, but business profit fell 34.3% to ¥1.6bn as SG&A grew 13.4% and U.S.
brand investment increased. Management still targets FY2027 revenue of ¥187.6bn (+9.4%) and business profit of ¥0.5bn, but domestic operations remained loss-making and the overseas profit recovery depends heavily on acquisitions, Europe’s rebound and planned U.S. synergies.
Themes
- Glamorise Acquisition
- Overseas Growth
- Domestic Weakness
- Ecommerce
- China Restructuring
- Gross Margin
Near term
U.S. Glamorise sales-channel integration and the timing of brand-awareness spending will determine whether revenue growth converts into profit.
Domestic wholesale promotional weakness and physical-store demand remain a near-term drag despite strong e-commerce performance.
China’s store closures and inventory discounting remain a source of losses; 30 stores had been closed or designated for closure by the end of Q1.
Currency movements and the normalization of tariff refunds could affect reported overseas margins.
Longer term
The investment case requires overseas business profit to reach the FY2027 plan of ¥1.24bn, versus ¥0.35bn in FY2026, with the U.S. subsidiary moving from a ¥0.26bn loss to breakeven.
E-commerce is becoming structurally more important: the five major companies’ EC sales ratio reached 34.1%, but China and parts of Japan remain weak.
Glamorise PMI is progressing in HR, finance and IT, but ERP integration remains unfinished; cost synergies need to be demonstrated in reported earnings.
Management plans ¥60bn of growth investments through FY2029 alongside continued buybacks and a ¥100 annual dividend, increasing the importance of capital-allocation discipline.
Red flags
Q1 business profit was below the prior year despite 8.8% revenue growth, while SG&A rose faster than revenue and consolidated operating margin was only 3.7%.
The FY2027 business-profit plan of ¥0.5bn relies on a sharp recovery from FY2026’s ¥0.46bn loss, while Japan is planned to remain loss-making at the segment level.
Overseas growth benefited from the Glamorise acquisition, favorable currency translation, tariff refunds and the absence of last year’s Bravissimo fire disruption, making the Q1 comparison unusually favorable.
No analyst Q&A or competitive pushback was provided, leaving limited evidence on market-share trends, brand competitiveness or the durability of the planned U.S. synergies.
Forward outlook
revenue growth
9.4 pct
FY 2027
official guidance
gross margin
57.9 pct
FY 2027
official guidance
ebitda
500 $million
FY 2027
official guidance
operating margin
0.8 pct
FY 2027
official guidance
OpenFilings analyst view from primary-source filings and earnings calls — not investment advice.
From latest ANNUAL · 2020-06-26
- Current Ratio Low
Red flags
- Current Ratio Low — Current ratio 0.63
Upcoming earnings
7:30 AM UTC+1
Period
Sep 2026
Est. EPS
—
Est. revenue
0
Earnings transcripts
Documents
FormReporting forFiledFlags