1. Japan Stocks

  2. •

    Consumer Cyclical

  3. •

    Apparel - Manufacturers
TSI Holdings Co.,Ltd.

TSI Holdings Co.,Ltd.

TSIHF
TSI Holdings Co.,Ltd.US flagOther OTC
8.23
USD
- -
- -
479.48MMarket Cap
TSI Holdings Co.,Ltd.
TSIHF
(Other OTC)

Recent

price

8.23

P/E

ratio

- -

div

yld

- -

ROIC.AI

2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
1,382.84
1,602.29
1,646.95
1,680.93
1,501.72
1,467.4
1,521.72
1,712.9
1,825.76
1,480.54
1,554.51
1,775.47
1,921.7
2,159.58
- -
2,100.68
Revenue per Share
-254.1
-15.37
10.06
21.33
12.49
33.92
31.51
-1.92
23.41
42.63
11.32
35.21
59.97
210.02
- -
34.53
Basic EPS, GAAP
-19.4
-48.51
-39.24
-34.29
-35.57
-4.99
6.09
13.35
-0.39
-98.69
-7.86
-27.89
-44.16
36.6
- -
- -
Free Cash Flow per Basic Share
14.42
17.5
18.34
17.53
16.94
18.04
18.31
18.24
17.93
18.05
- -
5.25
10.52
15.76
- -
- -
Dividend per Share
409.61
345.25
353.5
367.65
551.36
600
650.15
669.29
697.67
742.19
755.61
816.74
928.21
1,229.23
- -
976.23
Book Value per Share
1,040.75
984.25
1,010.11
1,055.1
992.81
989.27
935.79
881.65
869.81
935.94
979.67
1,033.75
1,116.32
1,405.37
- -
1,163.69
Tangible Book Value per Share
107
116
110
108
111
108
102
96
93
91
90
87
81
73
- -
75
Basic Weighted Avg Shares
147,799
185,512
181,972
180,819
167,211
159,143
155,457
165,009
170,068
134,078
140,382
154,456
155,383
156,606
167,085
157,335
Sales/Revenue/Turnover
-4.64
-0.69
-0.62
0.51
0.64
1.6
1.4
1.38
0.04
-8.83
3.16
1.51
1.13
1.04
2.59
0.64
Operating Margin (%)
14,451
6,422
6,346
6,150
6,761
6,251
4,709
5,220
5,783
4,842
4,438
3,931
3,650
3,689
5,384
- -
Depreciation Expense
-27,158
-1,779
1,111
2,294
1,391
3,679
3,219
-185
2,181
3,861
1,022
3,063
4,849
15,230
3,793
2,586
Net Income, GAAP
- -
142.86
67.78
42.44
53.65
22.94
11.17
110.2
46.49
35.92
63.24
- -
- -
36.26
43.22
91.54
Effective Tax Rate (%)
-18.37
-0.96
0.61
1.27
0.83
2.31
2.07
-0.11
1.28
2.88
0.73
1.98
3.12
9.73
2.27
1.64
Profit Margin (%)
13,851
37,895
40,734
44,034
41,132
30,343
24,737
20,592
35,852
46,745
47,172
45,598
42,489
59,409
44,492
38,136
Working Capital
3,123
9,925
8,840
10,053
7,043
4,256
10,599
16,765
24,577
16,118
9,839
5,014
1,631
408
31,624
1,016
LT Debt
119,254
120,286
116,747
121,862
116,963
113,643
110,182
103,936
95,450
97,429
97,735
98,877
97,421
108,231
99,320
94,200
Total Equity
- -
0.38
-0.26
0.39
0.36
1.53
1.47
-0.16
0.03
-5.97
1.37
- -
- -
0.93
1.87
- -
Return on Invested Capital (%)
- -
-3.72
1.1
3.58
1.83
4.99
3.87
-0.27
2.29
4.28
1.22
- -
- -
17.34
3.8
6.42
Return on Capital (%)
- -
-4.25
2.81
5.84
2.76
5.82
4.9
-0.28
3.37
5.84
1.51
4.4
6.64
18.55
4.27
3.57
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Feb'24
May'25
Aug'25
ST Debt
8,325
7,759
7,050
LT Borrowings
1,630
1,345
1,016
LT Finance Leases
1
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
75
74
72
Market Capitalization
65,119
66,224
61,547

Working Capital

FRC

•

in mil. unless spec.
Feb'24
May'25
Aug'25
Total Current Assets
70,877
68,588
65,263
Cash, Cash Equivalents & STI
27,472
24,425
21,680
Accounts Receivable, Net
11,681
12,640
12,264
Inventories
28,051
28,859
28,375
Total Current Liabilities
28,388
27,529
27,127
Payables & Accruals
- -
- -
- -
ST Debt
8,325
7,759
7,050
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-1.48%
0.58%
-8.23%
Free Cash Flow
2,387.45%
-110.63%
-575.66%
Net Income, GAAP
-83.22%
64.7%
-75.1%
Sales/Revenue/Turnover
0.37%
4.56%
6.69%
Total Cash Common Dividend
- -
- -
298.86%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
39,372
33,906
41,579
40,526
155,383
2025
39,295
35,935
- -
- -
156,606
2026
- -
- -
- -
- -
167,085

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
23.77
- -
- -
- -
59.97
2025
7.29
- -
- -
- -
210.02
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
10.52
2025
- -
- -
- -
- -
15.76
2026
- -
- -
- -
- -
- -
Similar Companies
Cantabil Retail India Limited (CANTABIL.NS)
KTMG Limited (XCF.SI)
China Weaving Materials Holdings Limited (3778.HK)
HangZhou Nbond Nonwovens Co., Ltd. (603238.SS)
Gale Pacific Limited (GAP.AX)
Pasupati Acrylon Limited (PASUPTAC.BO)
Business
TSI Holdings Co., Ltd. engages primarily in the planning, manufacture, sale and retail of apparel and lifestyle products in Japan and select international markets including China and other parts of Asia. The company owns and licenses numerous apparel brands such as nano universe, Natural Beauty Basic, Margaret Howell, Pearly Gates, Rose Bud, Stussy, Proportion Body Dressing, Free's Mart, Human Woman and Callaway Apparel, which collectively account for more than half of total revenue; it offers casual, streetwear, sports, outdoor and women's clothing through department stores, specialty retail outlets, shopping centers and e-commerce channels. TSI Holdings also provides ancillary services including brand licensing, logistics, store design and management, synthetic resin products, temporary staffing, restaurant operations and business market research. Founded in 2010 and headquartered in Tokyo, Japan, the company operates through its Apparel Related segment, which forms the core of its business, and an Others segment encompassing non-apparel activities. In recent strategic developments, TSI Holdings agreed in July 2025 to acquire a 70% stake in Daytona International Co., Ltd., a lifestyle retailer with approximately 60 stores and annual sales of around ¥40 billion focused on casual, sports and outdoor apparel via an OMO model, with plans to reach 100% ownership following a treasury share repurchase; it further resolved in October 2025 to acquire 100% of Waterfront Co., Ltd., a leading umbrella designer and wholesaler with strong brand recognition in rain and sun products sold across domestic, Chinese and Southeast Asian networks, to complement its apparel portfolio and expand into rainwear synergies. These moves align with the TSI Innovation Program 2027 medium-term plan emphasizing brand portfolio expansion, M&A and entry into new consumer segments.