During the fiscal year ended March 31, 2025, the Japanese economy showed some positive factors such as improvements in employment and income conditions, and an increase in demand from travelers to Japan. However, the future outlook remains uncertain, particularly regarding personal consumption, due to the continued weak yen leading to rising energy costs and raw material prices, resulting in sustained high prices.
In the auto parts and accessories industry, in which the Company operates, in-store sales of expendable auto parts such as tires, oil, and batteries progressed steadily, driven by driving demand for travel and homecoming visits, along with the effects of regional cold and snowfall during the winter.
In this environment, the Group continued to expand sales of expendable auto parts, particularly tires, which is one of our management strategies, and enhanced maintenance service options, including installation and maintenance services.
Specifically, as part of our ongoing efforts to improve customer convenience and satisfaction, we added battery replacement services and vehicle inspection estimates to our online appointment system, which already included oil changes, tire replacements, and body coating services.
In addition, to enable the provision of flexible and wide-ranging proposals tailored to customers’ lifestyles, we converted Y International, Inc.—which operates the “Y’s Road” sports bicycle chain stores—into a subsidiary via M&A.
As a result, the Group achieved record highs in net sales, gross profit, operating profit, ordinary profit, and profit attributable to owners of parent, with the following financial position and operating results for the fiscal year ended March 31, 2025.

In the fiscal year ended March 31, 2025, net sales amounted to 154,066 million yen (105.1% year-on-year, or up 7,425 million yen) due to strong sales of expendable auto parts, such as tires, oil, and batteries, an increase in wage earnings, and other factors. Gross profit was 67,391 million yen (107.3% year-on-year, or up 4,564 million yen), reflecting a higher growth rate in wage earnings, which has a high gross profit margin.
Selling, general and administrative expenses amounted to 51,940 million yen (107.4% year-on-year, or up 3,588 million yen), primarily owing to an increase in personnel costs.
As a result, operating profit was 15,450 million yen (106.7% year-on-year, or up 975 million yen), ordinary profit was 16,838 million yen (105.5% year-on-year, or up 874 million yen), and profit attributable to owners of parent was 11,260 million yen (109.8% year-on-year, or up 1,001 million yen).

The Japanese economy is expected to demonstrate improvements in the employment and income environments, as well as growth in personal consumption as a result of moderation in rising prices.
Still, it is likely that the future outlook will remain uncertain, primarily due to the unpredictability of the international situation and overseas economies. Nevertheless, in such circumstances, the Group will aim to strengthen its recognition as a “comprehensive car maintenance services company” by actively opening new stores in areas where cars are essential for daily transportation and offering product assortments tailored to customer needs. At the same time, we will focus on the motorcycle business as well to offer a comprehensive service that encompasses both the Yellow Hat and motorcycle businesses. Through these initiatives, the Group will continue further reinforcing its business foundations to increase earnings.
We look forward to your continued warm support and guidance.

May 2025
Yasuo Horie
(Representative Director and Chairman)
Akio Kimura
(Representative Director and President)