Worth reading
65In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
-18
Year-on-year change (revenue, %)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFull fiscal year ended May 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,558 million-18.0%
Operating profit¥119 million-76.0%
Ordinary income¥127 million-74.0%
Net income¥85 million-72.0%
Selling, general and administrative expenses¥600 million
Gross Profit Margin
Rate46%
Year-on-year change (points)Down 9 percentage points (from 55% to 46%)
Operating profit margin
Rate8%
Year-on-year change (points)Down 18 percentage points (from 26% to 8%)
Results for the three months of the current quarterRevenue of ¥625 million and 11 deals closed in the fourth quarter of the fiscal year ended May 2026
Full-year earnings forecast
Net Sales
¥2,093 million
Ordinary income
¥318 million
Net income
¥218 million
Deals closed
62 transactions
Dividend per share
¥50
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Net Sales101% of the revised forecast for the fiscal year ended May 2026 and 75% of the initial forecast
Ordinary income110% of the revised forecast and 26% of the initial forecast
Net income109% of the revised forecast and 25% of the initial forecast
Deals closed102% of the revised forecast and 88% of the initial forecast
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue, ordinary income, net income and the number of deals closed were all at least 100% of the revised forecastBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Salaries and allowances+¥18 million
Advertising expenses+JPY 7 million
Recruiting and training expenses+¥11 million year on year
Accrued year-end bonuses and other payables+¥106 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Revenue per deal¥33 million
Deals closed per person1.2 deals
Average number of consultants51.5 people
New initiatives
- Introduction of a departmental structure
- Establishment of a buyer information research team
- Establishment of an inside sales team
- Restrained new hiring
Key KPIsA metric the company considers important as a management benchmark.
- Deals closed49 transactionsYear on year against the same period last year+14.0%
- Number of deals in progress143 EngagementsYear on year against the same period last year+21.0%
- Average number of consultants45.5 peopleYear on year against the same period last year+20.0%
- New approaches initiated41 Engagements
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Revenue per deal¥31 millionYear on year against the same period last year-28.0%
- Deals closed per person1.1 transactions
- Average number of consultants45.5 peopleYear on year against the same period last year+20.0%
Market Size / Share
Approximately 3.3 million companies with revenue below ¥300 million, approximately 190,000 with revenue above ¥300 million, and approximately 110,000 with revenue above ¥1 billion. The company explained that it is the only listed M&A advisory specialist focused primarily on small deals and using a sales model centered on direct proposalsNumber of employees
Number of Employees49 consultants (at the end of the fiscal year ended May 2026)
Hiring planLimit net new hires in the fiscal year ending May 2027 to 10% above the previous fiscal year
Annual Dividend
For the fiscal year ending May 2027, ¥50 per share, payable only as a year-end dividend with no interim dividend. The actual dividend for the fiscal year ended May 2026 is ¥20 per share (subject to final confirmation)Payout ratio
Planned payout ratio of 50% for the fiscal year ending May 2027, with a long-term target of 80%. Actual payout ratio for the fiscal year ended May 2026 was 50%| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Full fiscal year ended May 2026 |
| Net Sales | ¥1,558 million (YoY -18.0%) |
| Operating profit | ¥119 million (YoY -76.0%) |
| Ordinary income | ¥127 million (YoY -74.0%) |
| Net income | ¥85 million (YoY -72.0%) |
| Gross Profit Margin | Rate 46% / Year-on-year change (points) Down 9 percentage points (from 55% to 46%) |
| Operating profit margin | Rate 8% / Year-on-year change (points) Down 18 percentage points (from 26% to 8%) |
| Selling, general and administrative expenses | ¥600 million |
| Results for the three months of the current quarter | Revenue of ¥625 million and 11 deals closed in the fourth quarter of the fiscal year ended May 2026 |
| Full-year earnings forecast | Net Sales ¥2,093 million / Ordinary income ¥318 million / Net income ¥218 million / Deals closed 62 transactions / Dividend per share ¥50 |
| Progress against full-year forecast | Net Sales 101% of the revised forecast for the fiscal year ended May 2026 and 75% of the initial forecast / Ordinary income 110% of the revised forecast and 26% of the initial forecast / Net income 109% of the revised forecast and 25% of the initial forecast / Deals closed 102% of the revised forecast and 88% of the initial forecast |
| Self-assessment against the plan | Revenue, ordinary income, net income and the number of deals closed were all at least 100% of the revised forecast |
| Breakdown of Factors Affecting the Change | Salaries and allowances +¥18 million / Advertising expenses +JPY 7 million / Recruiting and training expenses +¥11 million year on year / Accrued year-end bonuses and other payables +¥106 million |
| Key KPIs | Indicator name Deals closed / Value 49 transactions / Year on year against the same period last year 14 transactions, Indicator name Number of deals in progress / Value 143 Engagements / Year on year against the same period last year 21 Engagements, Indicator name Average number of consultants / Value 45.5 people / Year on year against the same period last year 20 people, Indicator name New approaches initiated / Value 41 Engagements / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Indicator name Revenue per deal / Value ¥31 million / Year on year against the same period last year ¥-28 million, Indicator name Deals closed per person / Value 1.1 transactions / Year on year against the same period last year Not disclosed, Indicator name Average number of consultants / Value 45.5 people / Year on year against the same period last year 20 people |
| Number of employees | Number of Employees 49 consultants (at the end of the fiscal year ended May 2026) / Change during the period Not disclosed / Hiring plan Limit net new hires in the fiscal year ending May 2027 to 10% above the previous fiscal year |
| Assumptions Underlying the Business Outlook | Revenue per deal ¥33 million / Deals closed per person 1.2 deals / Average number of consultants 51.5 people |
| Annual Dividend | For the fiscal year ending May 2027, ¥50 per share, payable only as a year-end dividend with no interim dividend. The actual dividend for the fiscal year ended May 2026 is ¥20 per share (subject to final confirmation) |
| Payout ratio | Planned payout ratio of 50% for the fiscal year ending May 2027, with a long-term target of 80%. Actual payout ratio for the fiscal year ended May 2026 was 50% |
| Market Size / Share | Approximately 3.3 million companies with revenue below ¥300 million, approximately 190,000 with revenue above ¥300 million, and approximately 110,000 with revenue above ¥1 billion. The company explained that it is the only listed M&A advisory specialist focused primarily on small deals and using a sales model centered on direct proposals |
| New initiatives | Introduction of a departmental structure, Establishment of a buyer information research team, Establishment of an inside sales team, Restrained new hiring |
Items this document does not state (9)
Segment resultsNumber of stores and locationsRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAcquisition of treasury sharesCapital expendituresOrders received and order backlogKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Changes in market conditions prolonged deal processes and increased the difficulty of closing deals. As a result, several deals that had been expected to close experienced extended review periods or failed to close. In the previous fiscal year, several large deals with revenue of more than ¥200 million per deal closed, whereas the proportion of medium-sized and large deals by value declined in the current fiscal year.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.