Komori
Financial results presentation4477BASE,Inc.Information and Communications, Services and Others

Financial Results Briefing Materials for the Second Quarter of the Fiscal Year Ending December 2026

In the second quarter of the fiscal year ending December 2026, revenue, gross profit and operating profit significantly exceeded the year-earlier period, driven by growth in the BASE business and the consolidation of the Eストアーショップサーブ business. Meanwhile, the want.jp business fell short of expectations, and the Company is proceeding with the acquisition of Port株式会社 and the rollout of AI functions.

Worth reading
67In 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
34.4
Year-on-year change in revenue (%)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationSecond quarter of the fiscal year ending December 202612 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales
Value
Current quarter6,144
Cumulative total12,388
Year on year against the same period last year
Current quarter34.4
Cumulative total35.5
Operating profit
Value
Current quarter403
Cumulative total1,068
Year on year against the same period last year
Current quarter123.5
Cumulative total87.3
Ordinary income
Value
Current quarter255
Cumulative total919
Year on year against the same period last year
Current quarter53.3
Cumulative total58.7
Net income
Value
Current quarter297
Cumulative total815
Year on year against the same period last year
Current quarter138.7
Cumulative total82.3
Gross Profit Margin
Rate
Current quarter51.7
Cumulative total51.6
Year-on-year change (points)
Current quarter5.7
Cumulative total6
Operating profit margin
Rate
Current quarter6.6
Year-on-year change (points)2.6 %
Selling, general and administrative expenses
Value
Current quarter2,773
Cumulative total5,326
SG&A-to-sales ratio
Current quarter45.1
Results for the three months of the current quarter
Net Sales¥6,144 million
Gross profit¥3,177 million
Selling, general and administrative expenses¥2,773 million
EBITDA¥460 million
Operating profit¥403 million
Ordinary income¥255 million
Net income¥297 million
Full-year earnings forecast
Net Sales
¥28,371 million
Gross profit
¥14,070 million
Selling, general and administrative expenses
¥11,800 million
EBITDA
¥2,457 million
Operating profit
¥2,270 million
Ordinary income
¥2,029 million
Profit attributable to owners of the parent
¥1,497 million
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 Sales43.7%
Gross profit45.5%
Selling, general and administrative expenses45.1%
EBITDA48.0%
Operating profit47.1%
Ordinary income45.3%
Profit attributable to owners of the parent54.4%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
The consolidated results and the BASE business, among others, are broadly in line with expectations. The want.jp business is tracking below plan.
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Growth in the BASE business, consolidation of the Eストアーショップサーブ business, a higher take rate following the introduction of fees for PAY ID, GMV growth, higher SG&A expenses due to mass marketing, and worsening market conditions for want.jp, among other factors. The amounts in the consolidated operating profit bridge by factor are Not disclosed.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Strengthening existing products, group synergies, the full-year contribution from the Eストアーショップサーブ business, the full-year contribution from fees for PAY ID, continued mass marketing, and the normalization of tax effects. Numerical assumptions are Not disclosed.
New initiatives
  • Limited release of BASE AI and expansion of AI functions
  • Acquisition of all shares in Port株式会社
  • Transfer of Port's card payment processing to PAY.JP
  • Launch of an AI BPO business by Eストアーショップサーブ
  • Enhancement of the easy overseas sales function and consideration of expansion to other platforms
Key KPIsA metric the company considers important as a management benchmark.
  • Group GMV¥125,134 million
    Year on year against the same period last year+31.6%
  • BASE business GMV (orders)¥42,295 million
    Year on year against the same period last year+5.6%
  • PAY.JP business GMV¥59,170 million
    Year on year against the same period last year+7.6%
  • BASE business take rate7 %
    Year on year against the same period last year+0.6 percentage points
  • PAY.JP business take rate2.7 %
    Year on year against the same period last year-0.1 percentage points
Unit price and quantity metricsThese figures show sales broken down by price and volume.
BASE business GMV (orders and payments) and take rate, and PAY.JP business GMV and take rate
Segment results
BASE Business
Net Sales¥2,907 million (up 17.0% year on year)
Gross profit¥1,885 million (up 24.4% year on year)
PAY.JP business
Net Sales¥1,624 million (up 7.3% year on year)
Gross profit¥230 million (up 4.8% year on year)
YELL BANK business
Net Sales¥304 million (up 11.1% year on year)
want.jp business
Net Sales¥214 million (down 28.1% year on year)
Gross profit¥83 million (down 20.2% year on year)
E Store Shop Serve business
Net Sales¥1,092 million
Gross profit681 million yen
Medium-term management plan targets
FY2027
Net Sales34,300
Gross profit9,989
EBITDA3,796
Operating profit3,600
FY2028
Net Sales41,500
Gross profit16,634
EBITDA5,192
Operating profit5,000
Market Size / Share
Goods¥15.0 trillion
Service Scope¥8.2 trillion
Digital content¥2.6 trillion
Value-added enhancement-related segment¥1.9 trillion (partially overlapping)
Annual Dividend
Annual dividend per share¥5
Interim¥0
End of period¥5
Payout ratio
38.4
Acquisition of treasury shares
Total acquisition cost¥1 billion (maximum)
Number of shares acquiredUp to 3,800,000 shares
Period13 February 2026 to 31 December 2026
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredSecond quarter of the fiscal year ending December 2026
Net Salesvalue Current quarter 6,144 / Cumulative total 12,388 / yoy_pct Current quarter 34.4 / Cumulative total 35.5
Operating profitvalue Current quarter 403 / Cumulative total 1,068 / yoy_pct Current quarter 123.5 / Cumulative total 87.3
Ordinary incomevalue Current quarter 255 / Cumulative total 919 / yoy_pct Current quarter 53.3 / Cumulative total 58.7
Net incomevalue Current quarter 297 / Cumulative total 815 / yoy_pct Current quarter 138.7 / Cumulative total 82.3
Gross Profit MarginRate Current quarter 51.7 / Cumulative total 51.6 / Year-on-year change (points) Current quarter 5.7 / Cumulative total 6
Operating profit marginRate Current quarter 6.6 / Year-on-year change (points) 2.6 %
Selling, general and administrative expensesvalue Current quarter 2,773 / Cumulative total 5,326 / SG&A-to-sales ratio Current quarter 45.1
Results for the three months of the current quarterNet Sales ¥6,144 million / Gross profit ¥3,177 million / Selling, general and administrative expenses ¥2,773 million / EBITDA ¥460 million / Operating profit ¥403 million / Ordinary income ¥255 million / Net income ¥297 million
Full-year earnings forecastNet Sales ¥28,371 million / Gross profit ¥14,070 million / Selling, general and administrative expenses ¥11,800 million / EBITDA ¥2,457 million / Operating profit ¥2,270 million / Ordinary income ¥2,029 million / Profit attributable to owners of the parent ¥1,497 million
Progress against full-year forecastNet Sales 43.7% / Gross profit 45.5% / Selling, general and administrative expenses 45.1% / EBITDA 48.0% / Operating profit 47.1% / Ordinary income 45.3% / Profit attributable to owners of the parent 54.4%
Self-assessment against the planThe consolidated results and the BASE business, among others, are broadly in line with expectations. The want.jp business is tracking below plan.
Segment resultsBASE Business Net Sales ¥2,907 million (up 17.0% year on year) / Gross profit ¥1,885 million (up 24.4% year on year) / PAY.JP business Net Sales ¥1,624 million (up 7.3% year on year) / Gross profit ¥230 million (up 4.8% year on year) / YELL BANK business Net Sales ¥304 million (up 11.1% year on year) / Gross profit Not disclosed / want.jp business Net Sales ¥214 million (down 28.1% year on year) / Gross profit ¥83 million (down 20.2% year on year) / E Store Shop Serve business Net Sales ¥1,092 million / Gross profit 681 million yen
Breakdown of Factors Affecting the ChangeGrowth in the BASE business, consolidation of the Eストアーショップサーブ business, a higher take rate following the introduction of fees for PAY ID, GMV growth, higher SG&A expenses due to mass marketing, and worsening market conditions for want.jp, among other factors. The amounts in the consolidated operating profit bridge by factor are Not disclosed.
Key KPIsIndicator name Group GMV / Value ¥125,134 million / Year on year against the same period last year +31.6%, Indicator name BASE business GMV (orders) / Value ¥42,295 million / Year on year against the same period last year +5.6%, Indicator name PAY.JP business GMV / Value ¥59,170 million / Year on year against the same period last year +7.6%, Indicator name BASE business take rate / Value 7 % / Year on year against the same period last year +0.6 percentage points, Indicator name PAY.JP business take rate / Value 2.7 % / Year on year against the same period last year -0.1 percentage points
Unit price and quantity metricsBASE business GMV (orders and payments) and take rate, and PAY.JP business GMV and take rate
Assumptions Underlying the Business OutlookStrengthening existing products, group synergies, the full-year contribution from the Eストアーショップサーブ business, the full-year contribution from fees for PAY ID, continued mass marketing, and the normalization of tax effects. Numerical assumptions are Not disclosed.
Medium-term management plan targetsFY2027 Net Sales 34,300 / Gross profit 9,989 / EBITDA 3,796 / Operating profit 3,600 / FY2028 Net Sales 41,500 / Gross profit 16,634 / EBITDA 5,192 / Operating profit 5,000
Annual DividendAnnual dividend per share ¥5 / Interim ¥0 / End of period ¥5
Payout ratio38.4
Acquisition of treasury sharesTotal acquisition cost ¥1 billion (maximum) / Number of shares acquired Up to 3,800,000 shares / Period 13 February 2026 to 31 December 2026
Market Size / ShareGoods ¥15.0 trillion / Service Scope ¥8.2 trillion / Digital content ¥2.6 trillion / Value-added enhancement-related segment ¥1.9 trillion (partially overlapping)
New initiativesLimited release of BASE AI and expansion of AI functions, Acquisition of all shares in Port株式会社, Transfer of Port's card payment processing to PAY.JP, Launch of an AI BPO business by Eストアーショップサーブ, Enhancement of the easy overseas sales function and consideration of expansion to other platforms
Items this document does not state (7)
Number of stores and locationsNumber of employeesRisk amount incorporated into the outlookFinancial targetsCapital 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.

Growth in the BASE business, consolidation of the Eストアーショップサーブ business, GMV growth and a higher take rate following the introduction of fees for PAY ID contributed to higher revenue and profit. The want.jp business fell short of expectations due to worsening market conditions, changes to marketplace terms and conditions, and declines in average order value and conversion rate.

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Financial Results Briefing Materials for the Second Quarter of the Fiscal Year Ending December 2026 | BASE,Inc. (4477) timely disclosure | Komori