Tay Two Co., Ltd. (株式会社テイツー), a leading second-hand book retailer in western Japan with a growing e-commerce business, reported a strong full-year performance for the 2026 fiscal year. This performance was driven by the expansion of its e-commerce (EC) operations and increased game sales. While the company’s revenue and profitability metrics rose sharply, its outlook for the coming year suggests a moderation in profit growth.
Key Numbers (JPY bn/M)
| Metric | FY2026 (2月期) | YoY Change |
|---|---|---|
| Revenue | 42.2bn | +15.8% |
| Operating Profit | 1.38bn | +51.1% |
| Ordinary Income | 1.35bn | +47.3% |
| Net Profit | 867M | +73.0% |
| Operating Margin | 3.3% | — |
| Equity Ratio | 48.8% | +2.9 ppts |
Business Overview Tay Two Co., Ltd. operates a chain of second-hand bookstores in western Japan, with its “Furuhon Ichiba” (古本市場) platform serving as a core business driver. The company has expanded its e-commerce capabilities through the acquisition of “Yamato” (山徳) and has also strengthened its game sales segment. It is well-positioned within Japan’s growing used goods and digital retail markets.
Analysis Tay Two’s FY2026 results reflect a significant acceleration in both revenue and profit, with net profit rising by 73.0% year-on-year. This growth is attributed to the expansion of its e-commerce business, particularly following the Yamato acquisition, which has diversified its sales channels and boosted overall revenue. Additionally, the company’s focus on game sales has contributed to improved profitability.
Despite the strong performance, the company’s operating margin of 3.3% remains below the industry average of 6.0%, indicating room for improvement in cost management and pricing power. However, the equity ratio increased to 48.8%, reflecting a stronger financial structure and reduced reliance on debt financing.
Next Year Guidance
| Metric | 2027 Forecast (JPY) | YoY Change |
|---|---|---|
| Revenue | 42.23bn | 36,477 |
| Operating Profit | 1.38bn | 911 |
| Ordinary Income | 1.35bn | 919 |
| Net Profit | 867M | 501 |
Management has provided the above guidance for the next fiscal year. Investors should monitor the company’s progress against these targets.
Source: Original filing (TDnet) | 日本語版
This article is for informational purposes only and does not constitute investment advice. Financial figures are AI-extracted and may contain errors — always verify against the original filing.