Japan Retail Sector "May 2026 monthly sales (announced 10 June): Announc..."

Research evidence excerpt

Japan Retail Sector "May 2026 monthly sales (announced 10 June): Announc..."

Global Research

10 June 2026ab

Japan Retail Sector Equities

JapanMay 2026 monthly sales (announced 10

June): Announcements for Seven & i, MonotaRO Retail

and Ryohin Keikaku overseas Takahiro KazahayaAnalyst

takahiro.kazahaya@ubs.com

+81-3-5208 6226

MonotaRO (3064): Special demand from Middle East situation gradually eases Kazuki Oike

Associate Analystfrom second half of May

kazuki.oike@ubs.com

Monthly sales trends (end of month, FY12/26): Non-consolidated net sales were +81-3-5208 6964

¥28.8bn, up 15.5% yoy (adjusted for number of business days, up 28.4%). In May,

monotaro.com sales rose approximately about 15-16% yoy (adjusted for number of

business days, +28-29%), exceeding the company’s plan, while sales for large

companies rose about 15-16% yoy (+28-29%) and were above the company’s plan.

There were 115,500 new customer acquisitions. Outperformance in sales relative to

plan in May was due largely to benefits from the situation in the Middle East, though

those benefits gradually eased from the latter half of the month. Cumulative non-

consolidated sales from the beginning of the fiscal year were ¥155.4bn. For FY12/26,

the company plans for non-consolidated sales of ¥368.8bn (up 14.0% yoy) and

1.085mn new customer acquisitions (previous year: 1.114mn). In May, the average

value per order at monotaro.com was about ¥10,828 and the average number of orders

per customer was about 2.5-2.6. Assuming FY12/26 parent sales at ¥354.5bn, we

forecast OP at ¥50.7bn (guidance ¥52.5bn, IBES consensus ¥53.6bn).

Seven & i Holdings (3382): SEJ’s same-store sales were firm, supported by

favourable weather, promotional efforts

Monthly sales trends (end of month, FY2/27): Seven-Eleven Japan’s (SEJ) same-store