Worth reading
70In 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
2922
¥ million (year-on-year increase in net sales)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ending March 20269 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥34,929 million+9.1%
Operating profit¥3,094 million+25.8%
Ordinary income¥3,121 million+25.6%
Net income¥2,258 million +26.0%net income attributable to owners of the parent
Results for the three months of the current quarter
Net Sales
¥8,987 million
Operating profit
¥847 million
EBITDA
¥2,528 million
Full-year earnings forecast
Fiscal year ending March 2027
Net Sales
¥37,500 million
Operating profit
¥3,450 million
Ordinary income
¥3,450 million
Net income
¥2,300 million net income attributable to owners of the parent
Earnings per share
¥148
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。
Fiscal year ending March 2026
Net Sales99.8 %
Operating profit98.2 %
Ordinary income97.5 %
Net income102.6 %
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Increase in revenue (welfare equipment services)¥2,467 million
Increase in revenue (senior living support services)¥455 million
Increase in costs of sales¥-1,421 million
Increase in SG&A expenses¥-866 million
Change in operating profit¥635 million
New initiatives
- Build an e-commerce site for meal services
- Establish a new frozen-food warehouse
- Promote balanced boxed meals
- Open new locations, mainly in urban areas, and relocate existing locations to larger premises
- Increase hiring and strengthen personnel training at operating locations
- Affiliation agreement with professional golfer Megumi Kido
Key KPIsA metric the company considers important as a management benchmark.
- EBITDA¥10,405 millionYear on year against the same period last year+10.1%
- Cumulative rental asset depreciation rate74.3 %Year on year against the same period last year+2.0%
- Number of sales locations99 Location
- Year-end number of employees (consolidated)1,935 peopleYear on year against the same period last year+4.3%
- Year-on-year change in the Company's rental revenue for the same month10.9 %
Medium-term management plan targets
Long-Term VisionけあさぷVision2040
Target fiscal year2030
Target value
- Organic revenue growth of 6% or more
- 5% CAGR in net income
- Equity spread of 5% or more
- Introduce a progressive dividend policy, with DOE of 6% as the floor
Financial targets
Target value
- Equity spread of 5% or more
- Maintain an equity ratio of 60% or more
- DOE of 6% as the floor
Actual value
- ROE12.5%
- Equity ratio of 67.1%
- DOE6.1%
Market Size / Share
The company's share of business locations handling welfare equipment rentals under long-term care insurance51 %
Year-on-year change in the Company's rental revenue for the same month10.9% (maximum value shown)
Number of stores and locations
Number at period end99 Location
Number of store openings and closures during the period1 relocation, 2 new openings (fiscal year ending March 2026)
Number of employees
Number of Employees1,935 People consolidated; regular and temporary employees
Change during the periodIncrease of 79 people
Annual Dividend
Annual dividend amount¥74 per share
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Net Sales | ¥34,929 million (YoY +9.1%) |
| Operating profit | ¥3,094 million (YoY +25.8%) |
| Ordinary income | ¥3,121 million (YoY +25.6%) |
| Net income | ¥2,258 million (net income attributable to owners of the parent) (YoY +26.0%) |
| Results for the three months of the current quarter | Net Sales ¥8,987 million / Operating profit ¥847 million / EBITDA ¥2,528 million |
| Full-year earnings forecast | Fiscal year ending March 2027 Net Sales ¥37,500 million / Operating profit ¥3,450 million / Ordinary income ¥3,450 million / Net income ¥2,300 million (net income attributable to owners of the parent) / Earnings per share ¥148 |
| Progress against full-year forecast | Fiscal year ending March 2026 Net Sales 99.8 % / Operating profit 98.2 % / Ordinary income 97.5 % / Net income 102.6 % |
| Breakdown of Factors Affecting the Change | Increase in revenue (welfare equipment services) ¥2,467 million / Increase in revenue (senior living support services) ¥455 million / Increase in costs of sales ¥-1,421 million / Increase in SG&A expenses ¥-866 million / Change in operating profit ¥635 million |
| Key KPIs | EBITDA ¥10,405 million, Cumulative rental asset depreciation rate 74.3 %, Number of sales locations 99 Location, Year-end number of employees (consolidated) 1,935 people, Year-on-year change in the Company's rental revenue for the same month 10.9 % |
| Number of stores and locations | Number at period end 99 Location / Number of store openings and closures during the period 1 relocation, 2 new openings (fiscal year ending March 2026) |
| Number of employees | Number of Employees 1,935 People (consolidated; regular and temporary employees) / Change during the period Increase of 79 people / Hiring plan Not disclosed |
| Medium-term management plan targets | Long-Term Vision けあさぷVision2040 / Target fiscal year 2030 / Target value Organic revenue growth of 6% or more, 5% CAGR in net income, Equity spread of 5% or more, Introduce a progressive dividend policy, with DOE of 6% as the floor |
| Financial targets | Target value Equity spread of 5% or more, Maintain an equity ratio of 60% or more, DOE of 6% as the floor / Actual value ROE12.5%, Equity ratio of 67.1%, DOE6.1% |
| Annual Dividend | Annual dividend amount ¥74 per share / Breakdown Not disclosed |
| Market Size / Share | The company's share of business locations handling welfare equipment rentals under long-term care insurance 51 % / Year-on-year change in the Company's rental revenue for the same month 10.9% (maximum value shown) / Year-on-year change in total long-term care insurance rental costs for the same month Not disclosed |
| New initiatives | Build an e-commerce site for meal services, Establish a new frozen-food warehouse, Promote balanced boxed meals, Open new locations, mainly in urban areas, and relocate existing locations to larger premises, Increase hiring and strengthen personnel training at operating locations, Affiliation agreement with professional golfer Megumi Kido |
Items this document does not state (13)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesSelf-assessment against the planSegment resultsUnit price and quantity metricsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookPayout ratioAcquisition 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.The company cited steady performance in the welfare equipment services business, the effect of higher revenue, efficient utilization of rental assets, improved profit levels and lower spending on the acquisition of rental assets. On the cost side, it cited increases in depreciation expenses resulting from rental asset purchases and personnel expenses.
How to read this page
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