Loading…
Kyushu-based discount supercenter chain using AI cameras and smart shopping carts to blend low prices with retail-media data.
Kyushu-based discount supercenter chain using AI cameras and smart shopping carts to blend low prices with retail-media data.
Earns the thin margin of a discount grocer on high volume, using big stores and low-priced own-brand goods. A group company develops the smart carts and cameras, and shopper data feeds advertising sold to suppliers, which is meant to add a second income line to the stores.
In one line: A Japanese Walmart-Costco hybrid built around retail-tech and in-store ad data.
Moat: narrow (data, cost advantage). Proprietary smart-cart shopper data and low-cost supercenter format are hard for traditional retailers to replicate quickly.
Headquarters: Fukuoka, Japan · Founded: 1965 · Employees: 9,434
Size TRIAL Holdings.Inc (141A.T) is a Japan Consumer Discretionary company (Specialty Stores) with a market value of $3.12B, the 354th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥4,000 on 6 Nov 2026.
Performance Over six months the shares gained 2.0%, against +10.4% for the median peer and +1.8% for the Japan market (cap-weighted) — 9th lowest of 20 in its peer set.
Growth Revenue grew 69.1% over the last twelve months (peer median +3.3%); the operating margin is 2.2% (peer median 8.5%).
Valuation It trades at 43.1× forward earnings against a peer median of 16.5× (3rd most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +54%, so the hurdle is -43 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.4 points below its cost of capital (6.0% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | ¥1.36T | ¥1.36T | ¥807B | ¥720B | ¥655B |
| Revenue growth | — | +69% | +12% | +10% | — |
| Gross profit | ¥334B | ¥301B | ¥155B | ¥134B | ¥118B |
| EBITDA | ¥70.0B | ¥69.1B | ¥34.9B | ¥31.2B | ¥24.8B |
| Net income | ¥3.52B | ¥3.52B | ¥11.8B | ¥11.4B | ¥8.09B |
| Free cash flow | n/a | ¥47.1B | -¥38.4B | ¥36.9B | ¥2.55B |
| Capital expenditure | n/a | ¥47.1B | ¥35.5B | ¥22.7B | ¥16.7B |
| Total debt | ¥395B | ¥395B | ¥38.6B | ¥16.2B | ¥19.6B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| TRIAL Holdings.Inc 141A.T | $3.12B | +2% | +69% | 2% | 43.1× | 11.0% |
| Aeon 8267.T | $21.4B | -19% | +11% | 2% | 51.1× | 3.5% |
| Pan Pacific Intl Hldgs 7532.T | $15.0B | -15% | +9% | 7% | 19.8× | -2.2% |
| Seven & I 3382.T | $31.7B | +16% | -11% | 4% | 17.4× | 4.0% |
| Costco COST | $467B | +4% | +10% | 4% | 46.2× | 19.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 141A.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.6% | +12.5% | 4th lowest of 21 |
| 6-month return | +2.0% | +10.4% | 9th lowest of 20 |
| Distance from 52-week high | -17.4% | -19.7% | 10th highest of 21 |
| Revenue growth (TTM) | +69.1% | +3.3% | highest of 21 |
| Operating margin | 2.2% | 8.5% | 3rd lowest of 21 |
| Forward P/E | 43.1× | 16.5× | 3rd most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 11.0% | 4.0% | 7th most demanding of 19 |
| Growth delivered (Del g) | +53.9% | +4.7% | highest of 19 |
| Hurdle (Req g minus delivered) | -42.9 pp | -3.3 pp | least demanding of 19 |
| ROIC minus cost of capital | -1.4 pp | +2.0 pp | 7th lowest of 21 |
| EV / EBITDA | 11.7× | 9.3× | 6th most expensive of 20 |
| Net debt / EBITDA | 4.7× | 2.1× | 6th most indebted of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| TRIAL Holdings.Inc 141A.T | Japan | $3.12B | +2% | +69% | 2% | 43.1× | 11.0% | +53.9% |
| Group 1 Automotive GPI | United States | $3.12B | -27% | -3% | 5% | 7.1× | -6.1% | +16.3% |
| Warby Parker WRBY | United States | $3.15B | -14% | +11% | 0% | 57.8× | n/a | n/a |
| Eagers Automotive APE.AX | Australia | $3.18B | -31% | +19% | 4% | 16.5× | 5.9% | +8.3% |
| MINISO 9896.HK | Hong Kong | $3.34B | -25% | +31% | 13% | 9.9× | 1.5% | +18.5% |
| Advance Auto Parts AAP | United States | $2.75B | -19% | -1% | 4% | 19.2× | 5.6% | -3.2% |
| Shanghai Yuyuan Tourist Mart 600655.SS | China | $2.70B | -6% | -21% | -3% | 77.3× | 15.9% | -4.4% |
| Asbury Automotive ABG | United States | $3.64B | +1% | -1% | 5% | 7.6× | -2.4% | +20.3% |
| Bob's Discount Furniture BOBS | United States | $2.54B | +42% | +17% | 9% | 20.2× | 13.4% | +4.0% |
| RH RH | United States | $2.48B | -2% | +3% | 10% | 20.2× | 11.4% | +3.8% |
| Dunelm DNLM.L | United Kingdom | $2.44B | +24% | +3% | 12% | 11.7× | 2.4% | +6.4% |
| POYA International 5904.TWO | Taiwan | $2.38B | +65% | +13% | 17% | 18.7× | 0.7% | +7.6% |
| Academy Sports and Outdoors ASO | United States | $4.14B | +24% | +4% | 10% | 9.9× | -1.2% | +1.2% |
| Watches of Switzerland WOSG.L | United Kingdom | $2.34B | +43% | +11% | 10% | 14.1× | 14.5% | +15.1% |
| Bath & Body Works BBWI | United States | $4.31B | +8% | -2% | 15% | 8.3× | -8.8% | +2.5% |
| Signet Jewelers SIG | United States | $4.37B | +34% | +1% | 7% | 9.4× | -1.3% | +5.4% |
| Lalithaa Jewellery Mart LALITHAA.NS | India | $2.21B | n/a | +48% | 6% | n/a | n/a | n/a |
| Lovisa LOV.AX | Australia | $2.18B | +32% | +18% | 18% | 27.8× | 21.9% | +26.7% |
| Endeavour EDV.AX | Australia | $4.48B | +10% | +1% | 4% | 21.4× | 14.9% | +1.0% |
| Super Retail SUL.AX | Australia | $2.14B | +22% | +3% | 9% | 13.8× | 6.7% | +4.0% |
| North West NWC.TO | Canada | $2.02B | +17% | +1% | 8% | 17.1× | -2.8% | +1.9% |