Overview
Retail Trade

HARD OFF CORPORATION Co.,Ltd.

Hard Off Corporation operates Japan's leading multi-format reuse retail chain, buying and selling second-hand electronics, apparel, furniture, hobby goods, automotive parts, and liquor through proprietary store brands including Hard Off, Off House, Mode Off, Garage Off, Hobby Off, and Liquor Off. The company operates both directly managed stores and a nationwide franchise (FC) network spanning all 47 prefectures in Japan, with international operations in the United States (California and Hawaii) and Taiwan. Its competitive strengths lie in its diversified multi-category reuse formats, an established franchise infrastructure providing royalty and merchandise supply revenues, and a growing global presence in the secondhand retail market.

Market Cap
¥36.0B
US$229M
EV
¥36.2B
US$231M
Stock¥2,584▲+1.45%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
7.6
x
LTM EV/EBIT
9.9
x
LTM PER
10.5
x
LTM PBR
1.8
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+19.4%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
36.0BUS$229MMarket Cap7.09BUS$45.2M+ Debt3.77BUS$24.0M− Cash3.22BUS$20.5M− Inv. Sec.0.12BUS$0.75M+ NCI36.2BUS$231MEV
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Performance & Balance
Revenue 5Y (¥B)
24.5US$156M'22/327.0US$172M'23/330.1US$192M'24/333.5US$214M'25/339.3US$250M'26/3
EBITDA 5Y (¥B)
2.05US$13.1M'22/32.89US$18.4M'23/33.47US$22.1M'24/34.07US$26.0M'25/34.43US$28.2M'26/3
Net Income 5Y (¥B)
1.04US$6.64M'22/31.65US$10.5M'23/32.09US$13.3M'24/32.31US$14.8M'25/32.52US$16.1M'26/3
Capital Structure
74%
26%
EquityD/E 0.36xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
5.01US$31.9M2.25US$14.3M'22/35.91US$37.7M2.15US$13.7M'23/36.49US$41.4M2.43US$15.5M'24/36.65US$42.4M3.18US$20.3M'25/37.53US$48.0M6.35US$40.5M'26/3
Shareholders
Top 10 hold 59.0%
1
Yamamoto Asset Co., Ltd.
33.51%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
9.09%
3
Custody Bank of Japan, Ltd. (Trust Account)
5.85%
4
HARD OFF CORPORATION Co.,Ltd. Employee Stock Ownership Association
2.70%
5
Yoshimasa YAMAMOTO
2.16%
6
Aimat Co., Ltd.
1.90%
7
Morgan Stanley MUFG Securities Co., Ltd.
1.01%
8
MORGAN STANLEY & CO. LLC (Standing Proxy: Morgan Stanley MUFG Securities Co., Ltd.)
0.99%
9
Taro YAMAMOTO
0.89%
10
FP Growth Support Investment Limited Partnership A
0.86%
Management
8 officers
Yoshimasa YAMAMOTO
Representative Director, Chairman
Jul 1972 Founded Sound Hokuetsu Co., Ltd. (now HARD OFF CORPORATION Co., Ltd.) Senior Managing Director, Sound Hokuetsu Co., Ltd. Apr 1988 Representative Director, President, the Company Jun 2007 Representative Director, Chairman, the Company Apr 2008 Representative Director, Chairman and President, the Company Apr 2019 Representative Director, Chairman, the Company (current)
1948-04-01
Taro YAMAMOTO
Representative Director, President
Mar 2005 Joined FAST RETAILING CO., LTD. Oct 2007 Joined the Company; General Manager, President's Office Apr 2011 General Manager, Corporate Planning Office, the Company Jun 2011 Managing Director, General Manager, Corporate Planning Office, the Company Apr 2013 Managing Director, General Manager, Store Operations Division, the Company Apr 2016 Director and Executive Vice President, General Manager, Store Operations Division, the Company Apr 2019 Representative Director, President, the Company (current)
1980-11-16
Ken NAGAHASHI
Senior Managing Director, General Manager of President's Office and General Manager of Management Administration Division
Apr 1991 Joined Nippon Life Insurance Company Mar 2003 Joined the Company Jun 2003 General Manager, President's Office, the Company Jun 2008 Director, General Manager, President's Office, the Company Jun 2011 Managing Director, General Manager, President's Office, the Company Apr 2015 Managing Director, General Manager, President's Office and General Manager, Management Administration Division, the Company Apr 2016 Senior Managing Director, General Manager, President's Office and General Manager, Management Administration Division, the Company (current)
1967-10-06
Mieko WATANABE
Director
Apr 1983 Joined Yamakou Co., Ltd. (now Snow Peak Ltd.) Dec 1996 Director, Snow Peak Ltd. Jul 2011 Managing Director, Snow Peak Ltd. Mar 2016 Representative Director, Senior Managing Director, Snow Peak Ltd. Mar 2018 Resigned from Snow Peak Ltd. Jun 2020 Outside Director, the Company (current)
1962-09-06
Nobuyoshi IZUMI
Director
Apr 1988 Joined Nihon Keizai Shimbun, Inc. (Nikkei Inc.) as reporter; assigned to Tokyo Copy Desk Mar 2009 Chief, Tokushima Bureau, Nikkei Inc. Apr 2015 Osaka Social Affairs Department, Nikkei Inc. Oct 2015 Left Nikkei Inc. Dec 2016 Joined Toranomon Law and Economics Office (registered with Tokyo Bar Association) Nov 2017 Joined Adan Law Office Nov 2019 Opened Kudan Izumi Law Office Jun 2023 Outside Director, the Company (current)
1965-07-05
Yoshihito NABEYA
Full-time Audit and Supervisory Board Member
Apr 1991 Joined The Dai-Shi Bank, Ltd. (now The Dai-Shi Hokuetsu Bank, Ltd.) Feb 2014 Nishiyama Branch Manager, The Dai-Shi Hokuetsu Bank, Ltd. Apr 2021 Shinmachi Branch Manager, The Dai-Shi Hokuetsu Bank, Ltd. Jul 2023 General Manager, Sales Department, Head Office, Dai-Shi Hokuetsu Lease Co., Ltd. Jun 2024 Full-time Audit and Supervisory Board Member, the Company (current)
1968-07-13
Kazuo WATANABE
Audit and Supervisory Board Member
Apr 1979 Joined Yamagata Shiawase Bank, Ltd. (now Kirayaka Bank, Ltd.) May 2007 Yuza Branch Manager, Kirayaka Bank, Ltd. Apr 2010 Niigata Branch Manager, Kirayaka Bank, Ltd. Jun 2012 Full-time Audit and Supervisory Board Member, the Company Jun 2024 Audit and Supervisory Board Member, the Company (current)
1956-12-11
Shun YOSHIDA
Audit and Supervisory Board Member
Sep 2017 Passed the National Bar Examination Dec 2018 Registered as attorney; joined Yoshida Koji Law Office (current) Jun 2024 Audit and Supervisory Board Member, the Company (current)
1990-10-30
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-06
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-23
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-07
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-23
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-06
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-08
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-24
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-23
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINETAmended
2023-03-31
Amended Annual Securities Report
Period: Apr 2020 – Mar 2021
EDINETAmended
2023-03-31
Amended Annual Securities Report
Period: Apr 2019 – Mar 2020
EDINETAmended
2023-03-31
Amended Annual Securities Report
Period: Apr 2018 – Mar 2019
EDINETAmended
2023-03-31
Amended Annual Securities Report
Period: Apr 2017 – Mar 2018
EDINETAmended
2023-03-31
Amended Annual Securities Report
Period: Apr 2021 – Mar 2022
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-06-23
Annual Securities Report
EDINET
2022-02-10
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-06-25
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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