Worth reading
64In 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
902
Millions of yen (net loss attributable to owners of the parent)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 September 2025 to 30 April 2026 (8 months)ConsolidatedJapanese GAAPNet Sales2,332¥ millionProgress 37.3%
Operating profit-502¥ million
Ordinary income-870¥ million
Net income attributable to owners of the parent-902¥ million
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share△¥6.90
Operating Margin△21.5％
Financial position at period-end
Total assets5,331¥ million
of which net assets 1,612 ¥ millionEquity ratio 29.4%vs. prior year-end -32.8pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating-716
Investment-1,210
Financials+1,881
Net change-45
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥1,200 million
Segment revenueSolutions Business ¥396,610 thousand, Food and Beverage-Related Business ¥20,456 thousand, Education-Related Business ¥93,251 thousand, Entertainment Business ¥558,041 thousand, Industrial-Waste Treatment Business ¥0 thousand, Lifestyle Business ¥1,267,059 thousand
Segment profitSolutions Business ¥65,402 thousand, Food and Beverage-Related Business ¥3,473 thousand, Education-Related Business ¥12,888 thousand, Entertainment Business ¥16,292 thousand, Industrial-Waste Treatment Business ¥0 thousand, Lifestyle Business ¥60,144 thousand
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥6,259 million
Operating profit¥165 million
Ordinary incomeNot disclosed
Net incomeNot disclosed
Annual Dividend Forecast¥0 → ¥0（0.0%）
Shareholder Return PolicyPolicy of prioritizing the allocation of funds to M&A investment (numerical target: Not disclosed)
Factors Behind Changes in Business Performance
While net sales increased following the addition of new consolidated subsidiaries through M&A, the company recorded an operating loss and an ordinary loss due to acquisition-related expenses and ¥343 million in provision for doubtful accounts, among other factors.
Disclosure regarding the going concern assumption
There is a disclosure regarding events or conditions that raise significant doubt about the going-concern assumption. Although the continued operating losses constitute events or conditions giving rise to significant doubt, the company has determined that no material uncertainty exists. There are no matters to be disclosed in the notes on the going-concern assumption.
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew Number of companies 5 / Company name スティルアン株式会社, 株式会社グッドマン, 飯山土建株式会社, 株式会社コーウェル, 日本純金行株式会社 / Excluded Number of companies 0 / Company name Not disclosed
Material subsequent eventsA simplified share exchange with 株式会社コーウェル was carried out and became effective on 15 May 2026. In addition, stock acquisition rights were exercised between 1 May and 15 June 2026, resulting in the issuance of 3,660,000 shares of common stock.
Impairment loss¥6,743 thousand (¥6,091 thousand for the Lifestyle business and ¥651 thousand for corporate/eliminations; specific details of the relevant assets: Not disclosed)
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥42,319 thousand, Insurance surrender value ¥18,979 thousand / Extraordinary loss Impairment Losses ¥6,743 thousand, Loss on sale of fixed assets ¥3,110 thousand, Loss on Disposal of Fixed Assets ¥2,553 thousand, Impairment loss on investment securities ¥14,999 thousand, Civil rehabilitation-related expenses ¥53,538 thousand, Other ¥1,446 thousand
Depreciation and amortization¥43,837 thousand
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingNone (対象者：Not disclosed)
Issued Shares at Period-End145,416,193
Treasury Shares at Period-End93
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 September 2025 to 30 April 2026 (8 months) |
| Net Sales | ¥2,332 million |
| Operating profit | ¥-502 million |
| Ordinary income | ¥-870 million |
| Profit attributable to owners of the parent | ¥-902 million |
| Net income per share | △¥6.90 |
| Operating Margin | △21.5％ |
| Equity ratio | End of the current fiscal period 29.4 / End of previous period 62.2 |
| Total assets | ¥5,331 million |
| Net assets | ¥1,612 million |
| Cash flows from operating activities | ¥-716 million |
| Cash flows from investing activities | ¥-1,210 million |
| Cash flows from financing activities | ¥1,881 million |
| Cash and cash equivalents at end of period | ¥1,200 million |
| Full-year earnings forecast | Net Sales ¥6,259 million / Operating profit ¥165 million / Ordinary income Not disclosed / Net income Not disclosed |
| Annual Dividend Forecast | ¥0 → ¥0（0.0%） |
| Shareholder Return Policy | Policy of prioritizing the allocation of funds to M&A investment (numerical target: Not disclosed) |
| Segment revenue | Solutions Business ¥396,610 thousand, Food and Beverage-Related Business ¥20,456 thousand, Education-Related Business ¥93,251 thousand, Entertainment Business ¥558,041 thousand, Industrial-Waste Treatment Business ¥0 thousand, Lifestyle Business ¥1,267,059 thousand |
| Segment profit | Solutions Business ¥65,402 thousand, Food and Beverage-Related Business ¥3,473 thousand, Education-Related Business ¥12,888 thousand, Entertainment Business ¥16,292 thousand, Industrial-Waste Treatment Business ¥0 thousand, Lifestyle Business ¥60,144 thousand |
| Depreciation and amortization | ¥43,837 thousand |
| Impairment loss | ¥6,743 thousand (¥6,091 thousand for the Lifestyle business and ¥651 thousand for corporate/eliminations; specific details of the relevant assets: Not disclosed) |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥42,319 thousand, Insurance surrender value ¥18,979 thousand / Extraordinary loss Impairment Losses ¥6,743 thousand, Loss on sale of fixed assets ¥3,110 thousand, Loss on Disposal of Fixed Assets ¥2,553 thousand, Impairment loss on investment securities ¥14,999 thousand, Civil rehabilitation-related expenses ¥53,538 thousand, Other ¥1,446 thousand |
| Disclosure regarding the going concern assumption | There is a disclosure regarding events or conditions that raise significant doubt about the going-concern assumption. Although the continued operating losses constitute events or conditions giving rise to significant doubt, the company has determined that no material uncertainty exists. There are no matters to be disclosed in the notes on the going-concern assumption. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New Number of companies 5 / Company name スティルアン株式会社, 株式会社グッドマン, 飯山土建株式会社, 株式会社コーウェル, 日本純金行株式会社 / Excluded Number of companies 0 / Company name Not disclosed |
| Material subsequent events | A simplified share exchange with 株式会社コーウェル was carried out and became effective on 15 May 2026. In addition, stock acquisition rights were exercised between 1 May and 15 June 2026, resulting in the issuance of 3,660,000 shares of common stock. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | None (対象者：Not disclosed) |
| Issued Shares at Period-End | 145,416,193 |
| Treasury Shares at Period-End | 93 |
| Factors Behind Changes in Business Performance | While net sales increased following the addition of new consolidated subsidiaries through M&A, the company recorded an operating loss and an ordinary loss due to acquisition-related expenses and ¥343 million in provision for doubtful accounts, among other factors. |
Items this document does not state (4)
Revision to Earnings ForecastPayout ratioRegional salesOrders received and order backlog
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 fiscal year-end was changed, resulting in an irregular eight-month fiscal year. Net sales increased following the addition of new consolidated subsidiaries through M&A, while acquisition-related expenses associated with the acquisition of shares in the new consolidated subsidiaries and ¥343 million in provision for doubtful accounts related to the transfer of loan receivables from 株式会社宇部整環リサイクルセンター were incurred.
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