Tokyo Lifestyle Co., Ltd.
TKLF · Retail-Retail Stores, NEC · EDGAR filings ↗
Grade
C60Japan-based beauty/health retailer that is profitable on thin margins but burns operating cash, leans heavily on short-term debt, and is concentrated in China sales.
Strengths
- Decent profitability percentiles (operating 79th, ROIC 83rd pct) and ROE ~15% (65th pct)
- Revenue growth 7.4% (67th pct) with a diversified multi-channel network
Risks
- Negative operating and free cash flow and a very low gross margin (~11%); net income down 11%
- Heavy reliance on short-term borrowings and ~61% revenue concentration in China
Notable findings
- Cash burnNegative free cash flow (-1.6M)
- Customer concentration~88% of revenue from one customer/distributor — 6%, and 88
Key metrics
Operating margin
2.2%
Net margin
3.2%
Return on equity
15.4%
Return on assets
4.2%
ROIC
7.5%
Revenue growth (QoQ)
7.4%
Net-income growth
-11.2%
Debt / equity
0.2×
Current ratio
1.4×
Free cash flow
-$2M
EBITDA
$6M
Tangible book value
$43M
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2025-07-10 | 2025-03-31 | 0001213900-25-062769 ↗ |
| 20-F | 2024-07-16 | 2024-03-31 | 0001213900-24-061842 ↗ |
| 20-F | 2023-07-31 | 2023-03-31 | 0001213900-23-061340 ↗ |
| 20-F | 2022-08-15 | 2022-03-31 | 0001213900-22-048050 ↗ |