Kojima's air-conditioner sales spread beyond Tokyo in the year to August 2026, and the appliance retailer's operating profit rose 17.7% to ¥8.62bn on sales of ¥297.63bn, up 5.2%. Its results statement also says electronic shelf labels were in every store by the end of August.
Where demand came from
Kojima credits air conditioners first. Tokyo's expanded subsidy scheme kept sales rising in its Tokyo stores, and demand tied to what it calls the "2027 problem" lifted stores elsewhere. Its supplementary briefing shows air-conditioner sales of ¥29.83bn, 127.9% of the prior year. Kojima says sales have been steady rather than strong since June, after demand was pulled forward into May and installation capacity tightened. Refrigerators were the weak spot: Kojima said they sold poorly as consumers grew more cost-conscious.
Mix pressure, margin still up
Mobile phones and game consoles carry comparatively low gross margins, and their growing share of sales pushed the margin down. Kojima says it offset this by pushing higher-value products, so gross margin still exceeded the prior year. The supplement puts it at 27.42%, 0.25 percentage points higher, with the mix effect a drag in the first half.
Shelf labels and the year ahead
Kojima lists electronic shelf labels among its efforts to raise labour productivity and free sales staff for customers. It reports the rollout finished across all stores by the end of August, when it had 138 stores. The statement gives no cost or measured saving for the labels.
For the coming year Kojima guides to sales of ¥300bn, up 0.8%, and operating profit of ¥9.0bn, up 4.4%. Separately, its board resolved to raise the year-end dividend to ¥29 a share, ¥1 above its July forecast, subject to formal decision at the shareholder meeting scheduled for November 18.