Belluna Reports First Quarter Revenue Increase Despite Lower Operating Profit

TOKYO, Jul 31 (Pulse News Wire) – Belluna CO.,LTD. (9997.T) reported a revenue increase of 2.7% to ¥521.8 billion for the first quarter ending March 2027 compared to the same period last year.

However, operating profit declined by 20.0% to ¥12.4 billion due to higher costs and lower sales margins across several segments. The Property Hotel division saw increased revenues driven by high-end hotels in Hokkaido and Tokyo, but experienced reduced profitability due to post-Osaka Expo effects in the Kansai region. The Cosmetics and Health Food segment faced challenges with decreased customer retention rates and rising advertising expenses, leading to a reduction in both revenue and profits. Conversely, the existing customer base's continued subscription rates improved health food e-commerce operations despite fewer new customers acquired. In detail, the Property Hotels segment contributed ¥102.2 billion in revenue, while the Cosmetics and Health Foods division recorded ¥24.3 billion.

Other notable contributors included gourmet products with ¥65.5 billion and apparel and miscellaneous goods totaling ¥196.1 billion. Overall, the company’s sustainable areas showed mixed results, with some divisions experiencing growth while others struggled with declining margins. The balance sheet reflected total assets increasing by ¥42.5 billion to ¥3,444.2 billion, primarily driven by increases in cash and receivables. Liabilities rose slightly by ¥46.4 billion to ¥1,933.3 billion, impacting equity negatively by ¥3.8 billion to ¥1,510.6 billion. The equity ratio stood at 44.0%, down 0.7 percentage points from the previous period.