RIZAP Group turned a ¥135mn net profit attributable to parent-company owners in the three months to June 2026, compared with a ¥5.95bn loss a year earlier. It is the company's first first-quarter profit in five years. Operating profit nearly doubled to ¥790mn from ¥408mn, even as consolidated revenue fell 7.5% to ¥36.91bn from ¥39.92bn.
The revenue drop was deliberate, RIZAP said, reflecting a push to trim its business portfolio and a lag between marketing campaigns and paying memberships at chocoZAP, its unstaffed "convenience gym" chain. New chocoZAP store openings ran at 2.6 times last year's pace, part of a roughly ¥15bn "Chapter Two" investment drive for the current fiscal year. The chain's total footprint passed 2,000 locations on July 17 and its membership reached 1.167 million by August 13. It also opened its first store in Malaysia in June.
The swing to profit leaned heavily on other parts of the group rather than the flagship gym business. REXT Holdings, RIZAP's entertainment and secondhand-goods subsidiary, posted a record profit in its reuse operations and strong gains in trading cards and arcade machines. By contrast, the Healthcare and Beauty segment that houses chocoZAP saw operating profit fall 40.1% to ¥457mn as growth spending outpaced revenue recognition.
RIZAP left its full-year forecast unchanged: revenue of ¥180bn, operating profit of ¥12bn to ¥16bn, and net profit attributable to parent owners of ¥4bn to ¥6bn.
| Metric | This Quarter | Prior-Year Quarter | Full-Year Guidance |
|---|---|---|---|
| Revenue | ¥36.91bn (-7.5%) | ¥39.92bn | ¥180bn (+7.6%) |
| Operating profit | ¥790mn (+93.4%) | ¥408mn | ¥12bn-¥16bn |
| Net profit (parent) | ¥135mn | -¥5.95bn | ¥4bn-¥6bn |
One profitable quarter buys patience for the chocoZAP investment case. It does not yet prove the bet has paid off.