Trial expands with Seiyu acquisition
Trial identifies integration and financial soundness as key management priorities.
Trial Holdings, Inc. (TSE-141A) substantially expanded the scale of its business and its operating base by making Seiyu a wholly owned subsidiary on July 1, 2025.
Trial's liabilities increased 502,199 million yen from the previous fiscal year-end to 673,454 million yen at the end of the fiscal year ended June 30, 2026.
Trial's short-term borrowings increased 340,900 million yen during the year, making them one of the main components of the increase in liabilities.
Trial's total assets increased 507,540 million yen from the previous fiscal year-end, reaching 807,824 million yen at the close of the fiscal year ended June 30, 2026.
Trial's goodwill increased 291,957 million yen during the year, with that increase identified as one of the principal contributors to the change in assets.
Trial used 405,015 million yen of cash in investing activities during the fiscal year, compared with an investing cash outflow of 35,892 million yen in the preceding year.
Trial spent 358,958 million yen acquiring shares in subsidiaries through transactions that changed the scope of its consolidated group, one of the main components of its investing cash outflow.
Trial received 309,392 million yen of net cash from financing activities during the fiscal year, compared with a financing cash inflow of 20,770 million yen in the previous year.
Trial received 367,400 million yen through short-term borrowing during the year, one of the main contributors to cash generated from financing activities.
Trial generated 92,055 million yen of cash from operating activities during the fiscal year, following an operating cash outflow of 4,446 million yen in the preceding year.
Trial's cash and cash equivalents declined 3,424 million yen from the previous year to 68,901 million yen at the end of the fiscal year ended June 30, 2026.
Trial identifies combining the companies' resources, securing early benefits from integration, improving existing operations' profitability, maintaining financial soundness and building management structures suited to the enlarged group as important challenges.
Trial's medium-term plan, established in February 2026, designates the fiscal years ending June 2027 through June 2029 as a period for building the foundations of distribution reform in pursuit of its long-term vision.
Trial plans to improve the group's profitability and productivity by carrying out the integration of Seiyu promptly and steadily, making the integration process a priority within its strategy.
Trial aims to improve gross profit by bringing purchasing terms into line and consolidating supplier account arrangements as part of its planned changes to sourcing and procurement.
Trial plans to consolidate Seiyu's core systems into its own systems, with the stated aim of reducing the costs of developing, operating and maintaining those systems across the business.
Trial intends to strengthen its finances by improving cash generation through group synergies, establishing a firmer foundation for growth from the fiscal year ending June 2030 onward.
Trial targets a private-label share of group sales of 25% through reorganizing the companies' brands, selling their products across both businesses and developing products jointly.