Treasure Factory Posts Double-Digit Profit Growth and Accelerates Store Expansion

Treasure Factory Co., Ltd. ( (JP:3093) ) just unveiled an update.

Treasure Factory reported that for the nine months ended November 30, 2025, both net sales and operating profit grew more than 10% year-on-year, with existing store sales up 4.8%, driven by strong demand despite temporary costs from new store openings and human capital investments. Consumer behavior is shifting toward lower-priced items amid inflation, boosting volumes in apparel, accessories, and hobby goods, while a clearly defined autumn-winter season supported robust apparel sales.

Inbound demand remained solid with tax-free sales at about 10.7% of the total, as reduced traffic from Chinese customers was more than offset by rising visitors from markets such as the United States, the Philippines, and Taiwan. The consolidated gross margin declined due to a higher contribution from Kindal, which has structurally lower margins, even as gross margins at existing domestic stores improved thanks to a favorable sales mix and the elimination of high-return purchase coupons.

Inventory levels are described as appropriate, with stock built up ahead of the end of high-return purchase coupons successfully digested by subsequent strong sales, and sufficient inventory secured for the fourth quarter and new stores. Store expansion remains aggressive, with 32 openings already confirmed for the fiscal year ending February 2026, meeting the 30–35 store target, and management aiming to sustain growth by adding more than 30 stores annually, roughly 10% of its network, in the following fiscal year and beyond.

The most recent analyst rating on (JP:3093) stock is a Hold with a Yen1914.00 price target. To see the full list of analyst forecasts on Treasure Factory Co., Ltd. stock, see the JP:3093 Stock Forecast page.

More about Treasure Factory Co., Ltd.

Treasure Factory Co., Ltd. operates a reuse-focused retail business, specializing in the purchase and sale of secondhand goods such as apparel, fashion accessories, and hobby items. The company runs multiple formats including its core domestic reuse stores and Kindal, a consolidated subsidiary focused on brand-name used clothing, and targets both domestic consumers and inbound tourists, particularly budget-conscious shoppers.

Average Trading Volume: 141,071

Technical Sentiment Signal: Strong Buy

Current Market Cap: Yen43.06B

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