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Shirohato cuts FY outlook to ¥135 million net loss from ¥14 million profit

Fri, Oct 09, 2026 15:30 JST Shirohato (3192.T) Innerwear e-commerce 中文

Shirohato (3192) on Oct. 9 cut its forecast for the year ending November 2026 to a net loss of ¥135 million from a previously projected ¥14 million profit, and lowered its sales outlook to ¥6.23 billion from ¥6.75 billion.

Revised full-year sales¥6.23 billion
Revised full-year net resultNet loss of ¥135 million
Revised operating resultOperating loss of ¥100 million
Nine-month sales¥4.584 billion

The online innerwear retailer, which had kept the forecast unchanged since announcing it on Jan. 9, 2026, said results through the third quarter showed the original targets could not be reached in the remaining fourth quarter of the year running Dec. 1, 2025 to Nov. 30, 2026.

ItemPreviousRevised
Sales¥6.75 billion¥6.23 billion
Operating profit¥50 millionloss of ¥100 million
Ordinary profit¥20 millionloss of ¥130 million
Net profit¥14 millionloss of ¥135 million
EPS¥2.10-¥20.28

The company said its overseas e-commerce business remained firm, but sales of its own private-brand products in the domestic e-commerce business stayed weak through the third quarter. Consumer thrift driven by higher energy and daily-necessity prices also held back overall sales, including national-brand products. With consumers prioritizing price, it had to keep pricing affordable and margins did not recover; cost cuts were not enough to offset lower gross profit.

For the nine months from Dec. 1, 2025 to Aug. 31, 2026, Shirohato posted sales of ¥4.584 billion, an operating loss of ¥62 million, an ordinary loss of ¥84 million and a net loss of ¥86 million, or ¥12.94 per share. No year-on-year comparison was given because shareholders approved on May 29, 2025 moving the fiscal year-end to November from February, making the previous fiscal year a nine-month period.

Total assets stood at ¥5.106 billion at the end of August, and the equity ratio was 47.7%, up from 43.6% at the end of the previous fiscal year. The company left its dividend forecast unchanged.


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