Overview
Retail Trade

TAY TWO CO.,LTD.

T2 Co., Ltd. operates a diversified reuse retail business in Japan, primarily through its 'Furuhon Ichiba' and 'Furuichi' store formats as well as the 'Furuichi Online' e-commerce platform. The company engages in the buying and selling of second-hand books, home video game software and hardware, trading cards, hobby goods, smartphones, and apparel/fashion items. In addition to its own store operations, T2 provides B2B reuse services including store support solutions, the 'TAYS' trading card automated appraisal system, and trading card vending machine services.

Market Cap
¥7.99B
US$51.0M
EV
¥8.10B
US$51.6M
Stock¥128▼-0.78%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
3.2
x
LTM EV/EBIT
3.8
x
LTM PER
6.1
x
LTM PBR
1.1
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-29.2%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
7.99BUS$51.0MMarket Cap3.86BUS$24.6M+ Debt3.11BUS$19.8M− Cash0.64BUS$4.10M− Inv. Sec.8.10BUS$51.6MEV
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Performance & Balance
Revenue 5Y (¥B)
26.8US$171M'22/231.3US$199M'23/235.2US$224M'24/236.5US$233M'25/242.2US$269M'26/2
EBITDA 5Y (¥B)
1.50US$9.54M'22/21.78US$11.4M'23/21.67US$10.7M'24/21.29US$8.24M'25/21.82US$11.6M'26/2
Net Income 5Y (¥B)
1.50US$9.56M'22/21.00US$6.39M'23/20.57US$3.62M'24/20.50US$3.20M'25/20.87US$5.53M'26/2
Capital Structure
65%
35%
EquityD/E 0.53xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
1.99US$12.7M1.87US$11.9M'22/22.75US$17.5M2.30US$14.7M'23/23.20US$20.4M3.50US$22.3M'24/23.56US$22.7M3.73US$23.8M'25/23.73US$23.8M2.90US$18.5M'26/2
Shareholders
Top 10 hold 37.0%
1
Y.A.K. Corporation Co., Ltd.
10.87%
2
Goshi NIINUMA
4.28%
3
BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC; Standing Proxy: MUFG Bank, Ltd.)
3.64%
4
TAY TWO CO.,LTD. Employee Stock Ownership Association
3.58%
5
The San-in Godo Bank,Ltd. (Standing Proxy: Custody Bank of Japan, Ltd.)
3.35%
6
Daiwa Securities Co. Ltd.
3.32%
7
SBI SECURITIES Co., Ltd.
2.32%
8
The Shoko Chukin Bank, Ltd.
2.23%
9
MORGAN STANLEY & CO.LLC (Standing Proxy: Morgan Stanley MUFG Securities Co., Ltd.)
1.70%
10
Seigo KATO
1.67%
Management
10 officers
Katsuji FUJIWARA
Representative Director, President and CEO
Apr 1993 Joined Tokai Bank, Ltd. (now MUFG Bank, Ltd.) Jan 2001 Joined the Company Mar 2007 General Manager, Administration Department, I-Cafe Co., Ltd. (now the Company) Jul 2011 Deputy General Manager, Corporate Planning Department, Corporate Planning Headquarters, the Company Mar 2012 General Manager, Accounting Department, Administration Headquarters, the Company Apr 2013 General Manager, Accounting Department and General Manager, Human Resources Department, the Company May 2014 Director, General Manager, Administration Department and Chief Compliance Officer, the Company Mar 2015 Director, General Manager, Accounting and Finance Department and Chief Compliance Officer, the Company Mar 2015 Director, Interpia Co., Ltd. Nov 2015 Director, Mo-Zeal Co., Ltd. (now the Company) Mar 2016 Director, General Manager, Administration Headquarters, General Manager, Accounting and Finance Department and Chief Compliance Officer, the Company Jul 2016 Director, General Manager, Administration Headquarters, General Manager, Accounting and Finance Department, General Manager, Information Systems Department and Chief Compliance Officer, the Company Mar 2017 Director, General Manager, Administration Headquarters, General Manager, Accounting Administration Department and Chief Compliance Officer, the Company May 2017 Representative Director, President, the Company Jun 2024 Outside Director, TORICO Inc. May 2026 Representative Director, President and CEO, the Company (current)
1969-12-27
Takeo KONDO
Director, Executive Vice President, CCO and General Manager, President's Office
Apr 1983 Joined Tokio Marine & Fire Insurance Co., Ltd. Jul 2006 Deputy Manager, Okayama Branch, Tokio Marine & Nichido Fire Insurance Co., Ltd. (post-merger) Jul 2008 General Manager, General Affairs Department and Senior Advisor, Corporate Planning Department, Tokio Marine & Nichido Fire Insurance Co., Ltd. Jul 2009 General Manager, General Affairs Department, Tokio Marine & Nichido Fire Insurance Co., Ltd. Oct 2010 General Manager, DC Pension Business Promotion Department and Group Leader, Planning Group, Tokio Marine & Nichido Fire Insurance Co., Ltd. Jul 2012 General Manager, Financial Sales Promotion Department, Tokio Marine & Nichido Fire Insurance Co., Ltd. Apr 2021 Chief Promotion Manager, Financial Sales Promotion Department, Tokio Marine & Nichido Fire Insurance Co., Ltd. Apr 2023 Advisor, the Company May 2023 Director, Chief Compliance Officer and General Manager, President's Office, the Company Mar 2024 Director, Chief Compliance Officer, General Manager, President's Office and General Manager, Administration Headquarters, the Company Apr 2024 Director, Executive Vice President, General Manager, President's Office and Chief Compliance Officer, the Company May 2026 Director, Executive Vice President, CCO and General Manager, President's Office, the Company (current)
1961-01-17
Yasuyoshi MITSUMOTO
Director, General Manager, Store Operations Department
Apr 1999 Joined the Company Mar 2003 Became independent through a franchise (noren-wake) from a store of the Company Feb 2011 Representative Director, President, Light Book Co., Ltd. May 2017 Director, General Manager, Store Operations Department, the Company Mar 2020 Director, General Manager, Sales Headquarters and General Manager, Store Operations Department, the Company Apr 2024 Director, General Manager, Store Operations Department, the Company (current)
1975-12-01
Yoshiyuki ARAKANE
Director, General Manager, Product Planning Department
Apr 2000 Joined the Company Mar 2019 General Manager, Business Development Department, the Company Apr 2019 General Manager, Product Development Department, the Company Mar 2020 General Manager, Product Planning Department, the Company Jun 2020 Director, Sanutoku Co., Ltd. Mar 2021 Deputy Head, Sales Headquarters and General Manager, Product Planning Department, the Company May 2021 Director, Deputy Head, Sales Headquarters and General Manager, Product Planning Department, the Company Apr 2024 Director, General Manager, Product Planning Department, the Company (current) Mar 2026 Director and Representative, Sanutoku Industrial Co., Ltd. (current)
1977-09-06
Yuma IWASE
Director
Jun 2010 Joined Sanutoku Co., Ltd. Oct 2015 Joined Vega Corporation Co., Ltd. Oct 2016 Joined Shoeisha Co., Ltd. Mar 2017 Rejoined Sanutoku Co., Ltd. Apr 2019 Representative Director, President, Sanutoku Co., Ltd. (current) May 2021 Director, the Company (current)
1986-09-09
Shinji HIRAYAMA
Director, CFO and General Manager, Accounting Department
Apr 1996 Joined Mediatech Isshin Co., Ltd. Feb 2001 Joined Ishii Hyoki Co., Ltd. Sep 2012 Joined Toyo Heavy Industries Co., Ltd. Oct 2013 Transferred to Toyo Lease Co., Ltd. Aug 2014 Joined the Company Jun 2022 General Manager, Accounting Department, Administration Headquarters, the Company Mar 2024 Director, Interpia Co., Ltd. (current) Mar 2024 Director, Sanutoku Co., Ltd. (current) Apr 2024 General Manager, Accounting Department, the Company May 2024 Director, General Manager, Accounting Department, the Company May 2026 Director, CFO and General Manager, Accounting Department, the Company (current)
1975-09-24
Michihiko SUWA
Director
Apr 1983 Joined Yomiuri Television Broadcasting Co., Ltd. Mar 1985 Program Director, Yomiuri Television Broadcasting Co., Ltd. Jul 2013 Treated as Bureau Chief, Yomiuri Television Broadcasting Co., Ltd. Jun 2017 Treated as Executive Officer, Programming Bureau, Animation Department, Executive Producer, Yomiuri Television Broadcasting Co., Ltd. Jun 2019 Senior Managing Director, ytv Nextry Co., Ltd. Apr 2023 Professor, Osaka University of Arts (current) Jun 2023 Special Contract Staff, Animation Department, Programming Bureau, Yomiuri Television Broadcasting Co., Ltd. Jul 2023 Special Contract Staff, Animation Center, Content Strategy Bureau, Yomiuri Television Broadcasting Co., Ltd. Oct 2023 Representative Director, ASHA PP Co., Ltd. (current) Oct 2023 Advisor, Animax Broadcast Japan Co., Ltd. Apr 2024 Visiting Professor, Osaka Institute of Technology (current) May 2024 Director, the Company (current) Sep 2024 Advisor, Matsumi Senior High School (current)
1959-04-14
Yoji TSUKAMOTO
Director, Audit and Supervisory Committee Member
Apr 1982 Joined Toyo Kogyo Co., Ltd. (now Mazda Motor Corporation) Apr 2001 Joined the Company Apr 2001 Deputy General Manager, Store Support Department, the Company Jun 2001 Deputy General Manager, Business Development Department, the Company Jul 2001 General Manager, Business Development Department, the Company Mar 2002 Executive Officer, COO of Business Development Company and General Manager, Business Development Department, the Company Mar 2003 Executive Officer in charge of Business Development, the Company Mar 2005 Executive Officer, General Manager, Operations Department, Business Development Company, the Company Mar 2007 Responsible General Manager, Store Development Department, Business Development Company, the Company Mar 2008 General Manager, Internal Audit Department, the Company Mar 2014 General Manager, President's Office, the Company Aug 2014 Director, Cardflex Japan Co., Ltd. May 2015 Full-time Audit & Supervisory Board Member, the Company May 2015 Audit & Supervisory Board Member, Mo-Zeal Co., Ltd. Nov 2015 Audit & Supervisory Board Member, Cardflex Japan Co., Ltd. May 2019 Director, Audit and Supervisory Committee Member, the Company (current) Jun 2020 Audit & Supervisory Board Member, Sanutoku Co., Ltd. (current)
1959-08-29
Eiichiro INADA
Director, Audit and Supervisory Committee Member
Oct 2001 Joined Sanyu Audit Corporation May 2005 Registered as Certified Public Accountant Sep 2006 Joined CONSOLIX Co., Ltd. Jan 2010 Established Inada Certified Public Accountant Office (current) Mar 2010 Audit & Supervisory Board Member, Cassina IXC Co., Ltd. Jul 2020 Director, Audit and Supervisory Committee Member, the Company (current) May 2023 Representative Director, Renketsu Group Management Research Institute Co., Ltd. (current)
1979-02-10
Yasuhiro IMAWAKA
Director, Audit and Supervisory Committee Member
Apr 1983 Joined The San-in Godo Bank, Ltd. Feb 2004 Manager, Tokyo Office, The San-in Godo Bank, Ltd. Jul 2006 Manager, Tsuda Branch, The San-in Godo Bank, Ltd. Jun 2009 Manager, Izumo Branch, The San-in Godo Bank, Ltd. Jun 2012 General Manager, Sales Planning Department, The San-in Godo Bank, Ltd. Jun 2013 General Manager, Regional Development Department, The San-in Godo Bank, Ltd. Jun 2014 Executive Officer, General Manager, Regional Development Department, The San-in Godo Bank, Ltd. Jun 2016 Managing Executive Officer, The San-in Godo Bank, Ltd. Jun 2018 Director, Senior Managing Executive Officer, The San-in Godo Bank, Ltd. Jun 2020 Representative Director, President, Gogin Credit Co., Ltd. May 2023 Director, Audit and Supervisory Committee Member, the Company (current) Jan 2025 Outside Director, Tomo Capital Co., Ltd. (current)
1960-03-18
Large Shareholding Reports
Goshi NIINUMA
2026-07-23
5.26%→4.24%
Annual report (as of 2026-08-31): 4.28%
Goshi NIINUMA
2026-07-17
7.14%→5.26%
Annual report (as of 2026-08-31): 4.28%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-10-15
Q2 Earnings Flash
FY ending Feb 2027
EDINET
2026-10-15
Semi-Annual Securities Report
Period: Mar 2026 – Feb 2027
EDINET
2026-07-23
Large Shareholding Report
EDINET
2026-07-17
Large Shareholding Report
TDnet
2026-07-15
Q1 Earnings Flash
FY ending Feb 2027
EDINET
2026-05-29
Annual Securities Report
Period: Mar 2025 – Feb 2026
TDnet
2026-01-14
Q3 Earnings Flash
FY ending Feb 2026
EDINET
2025-10-15
Semi-Annual Securities Report
Period: Mar 2025 – Feb 2026
EDINETAmended
2025-07-25
Amended Annual Securities Report
Period: Mar 2024 – Feb 2025
TDnet
2025-07-15
Q1 Earnings Flash
FY ending Feb 2026
EDINETAmended
2025-06-30
Amended Annual Securities Report
Period: Mar 2024 – Feb 2025
EDINET
2025-05-30
Annual Securities Report
Period: Mar 2024 – Feb 2025
TDnet
2025-01-14
Q3 Earnings Flash
FY ending Feb 2025
EDINET
2024-10-15
Semi-Annual Securities Report
Period: Mar 2024 – Feb 2025
EDINETAmended
2024-09-10
Amended Annual Securities Report
Period: Mar 2023 – Feb 2024
EDINETAmended
2024-08-20
Amended Annual Securities Report
Period: Mar 2023 – Feb 2024
EDINET
2024-07-16
Quarterly Securities Report
Period: Mar 2024 – May 2024
TDnet
2024-07-16
Q1 Earnings Flash
FY ending Feb 2025
EDINET
2024-05-31
Annual Securities Report
Period: Mar 2023 – Feb 2024
EDINET
2024-01-15
Quarterly Securities Report
Period: Sep 2023 – Nov 2023
EDINET
2023-10-16
Quarterly Securities Report
Period: Jun 2023 – Aug 2023
EDINETAmended
2023-09-08
Amended Securities Registration Statement
EDINET
2023-08-28
Securities Registration Statement
EDINET
2023-07-14
Quarterly Securities Report
Period: Mar 2023 – May 2023
EDINET
2023-05-26
Annual Securities Report
Period: Mar 2022 – Feb 2023
EDINET
2023-01-16
Quarterly Securities Report
Period: Sep 2022 – Nov 2022
EDINET
2022-10-14
Quarterly Securities Report
EDINET
2022-07-15
Quarterly Securities Report
EDINET
2022-05-27
Annual Securities Report
EDINET
2022-01-14
Quarterly Securities Report
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