Worth reading
62In 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
Year-on-year change in revenue (%)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationQ3 FY202611 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥18,830 million+34.0%
Operating profit¥1,740 million+52.0%
Ordinary income¥1,671 million+42.3%
Net income¥1,354 million+49.4%
Gross Profit Margin51.5 %
Operating profit margin10.4 %
Selling, general and administrative expenses¥7,951 million
Results for the three months of the current quarter
Net Sales
¥6,442 million+31.2%
Gross profit
¥3,296 million+39.9%
Operating profit
¥671 million+16.9%
Ordinary income
¥751 million+26.3%
Net income
¥539 million+17.3%
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 Sales66.4
Gross profit68.9
Selling, general and administrative expenses67.4
EBITDA79.1
Operating profit76.7
Ordinary income82.3
Profit attributable to owners of the parent90.4
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
The BASE and PAY.JP businesses progressed as expected, while the YELL BANK business fell short of expectations and the want.jp business progressed significantly below expectations.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
The factors behind the increases in revenue and profit were growth in the BASE business and the consolidation of Eストアー社 and other companies. Factors behind the increase in selling, general and administrative expenses included the consolidation of Eストアー社 and higher promotional costs for the BASE business. The factor limiting operating profit growth was the increase in depreciation and amortisation of goodwill and other assets resulting from the consolidation of Eストアー社 and Port社. The bridge by individual amount was Not disclosed.
New initiatives
- BASE AI consultation feature made available to all shops
- Launch of BASE AI's new product registration feature
- Capital and Business Alliance With SBI Holdings
- Consideration of measures to strengthen the governance framework
- Acquisition of all shares in Port株式会社
Key KPIsA metric the company considers important as a management benchmark.
- Group GMV¥131,273 millionYear on year against the same period last year+30.4%
- BASE GMV (orders)¥42,102 millionYear on year against the same period last year+4.4%
- BASE GMV (payments)¥40,942 millionYear on year against the same period last year+6.3%
- BASE take rate7.1 %
- PAY.JP GMV¥65,562 millionYear on year against the same period last year+8.6%
- PAY.JP take rate2.7 %
Unit price and quantity metricsThese figures show sales broken down by price and volume.
GMV (orders and payments) and take rates are disclosedSegment results
BASE Business
Net Sales
¥2,921 million+8.4%
Gross profit
¥1,908 million+10.0%
PAY.JP business
Net Sales
¥1,780 million+7.3%
Gross profit
¥243 million+0.5%
YELL BANK business
Net Sales
¥324 million+11.8%
Gross profit
¥316 million+12.2%
want.jp business
Year-on-year revenue growth-21.5
Gross profit year on year-31.4
ShopServe business
Net Sales
¥1,122 million
Gross profit
¥683 million
Medium-term management plan targets
Net Sales
FY2027¥34,300 million
FY2028¥41,500 million
Gross profit
FY2027¥16,634 million
FY2028¥19,517 million
EBITDA
FY2027¥3,796 million
FY2028¥5,192 million
Operating profit
FY2027¥3,600 million
FY2028¥5,000 million
Market Size / Share
Merchandise market¥15 1 trillion
Service market¥8.2 1 trillion
Digital content market¥2.6 1 trillion
Annual Dividend
Annual dividend per share¥5.00
Year-end dividend¥5.00
Payout ratio
38.4Acquisition of treasury shares
Buyback limit¥1 billion (set at the beginning of the fiscal year)
StatusResolved to discontinue the buyback in August 2026
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Q3 FY2026 |
| Net Sales | ¥18,830 million (YoY +34.0%) |
| Operating profit | ¥1,740 million (YoY +52.0%) |
| Ordinary income | ¥1,671 million (YoY +42.3%) |
| Net income | ¥1,354 million (YoY +49.4%) |
| Gross Profit Margin | 51.5 % |
| Operating profit margin | 10.4 % |
| Selling, general and administrative expenses | ¥7,951 million |
| Results for the three months of the current quarter | Net Sales ¥6,442 million (YoY +31.2%) / Gross profit ¥3,296 million (YoY +39.9%) / Operating profit ¥671 million (YoY +16.9%) / Ordinary income ¥751 million (YoY +26.3%) / Net income ¥539 million (YoY +17.3%) |
| 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 | Net Sales 66.4 / Gross profit 68.9 / Selling, general and administrative expenses 67.4 / EBITDA 79.1 / Operating profit 76.7 / Ordinary income 82.3 / Profit attributable to owners of the parent 90.4 |
| Self-assessment against the plan | The BASE and PAY.JP businesses progressed as expected, while the YELL BANK business fell short of expectations and the want.jp business progressed significantly below expectations. |
| Segment results | BASE Business Net Sales ¥2,921 million (YoY +8.4%) / Gross profit ¥1,908 million (YoY +10.0%) / PAY.JP business Net Sales ¥1,780 million (YoY +7.3%) / Gross profit ¥243 million (YoY +0.5%) / YELL BANK business Net Sales ¥324 million (YoY +11.8%) / Gross profit ¥316 million (YoY +12.2%) / want.jp business Net Sales Not disclosed / Year-on-year revenue growth -21.5 / Gross profit Not disclosed / Gross profit year on year -31.4 / ShopServe business Net Sales ¥1,122 million / Gross profit ¥683 million |
| Breakdown of Factors Affecting the Change | The factors behind the increases in revenue and profit were growth in the BASE business and the consolidation of Eストアー社 and other companies. Factors behind the increase in selling, general and administrative expenses included the consolidation of Eストアー社 and higher promotional costs for the BASE business. The factor limiting operating profit growth was the increase in depreciation and amortisation of goodwill and other assets resulting from the consolidation of Eストアー社 and Port社. The bridge by individual amount was Not disclosed. |
| Key KPIs | Indicator name Group GMV / Value ¥131,273 million / Year on year against the same period last year ¥30.4 million, Indicator name BASE GMV (orders) / Value ¥42,102 million / Year on year against the same period last year ¥4.4 million, Indicator name BASE GMV (payments) / Value ¥40,942 million / Year on year against the same period last year ¥6.3 million, Indicator name BASE take rate / Value 7.1 % / Year on year against the same period last year Not disclosed, Indicator name PAY.JP GMV / Value ¥65,562 million / Year on year against the same period last year ¥8.6 million, Indicator name PAY.JP take rate / Value 2.7 % / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | GMV (orders and payments) and take rates are disclosed |
| Medium-term management plan targets | Net Sales FY2027 ¥34,300 million / FY2028 ¥41,500 million / Gross profit FY2027 ¥16,634 million / FY2028 ¥19,517 million / EBITDA FY2027 ¥3,796 million / FY2028 ¥5,192 million / Operating profit FY2027 ¥3,600 million / FY2028 ¥5,000 million |
| Annual Dividend | Annual dividend per share ¥5.00 / Interim Dividend Not disclosed / Year-end dividend ¥5.00 |
| Payout ratio | 38.4 |
| Acquisition of treasury shares | Buyback limit ¥1 billion (set at the beginning of the fiscal year) / Status Resolved to discontinue the buyback in August 2026 / Number of Shares Not disclosed / Period Not disclosed |
| Market Size / Share | Merchandise market ¥15 1 trillion / Service market ¥8.2 1 trillion / Digital content market ¥2.6 1 trillion |
| New initiatives | BASE AI consultation feature made available to all shops, Launch of BASE AI's new product registration feature, Capital and Business Alliance With SBI Holdings, Consideration of measures to strengthen the governance framework, Acquisition of all shares in Port株式会社 |
Items this document does not state (8)
Number of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk 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.The company cited growth in the BASE business and the consolidation of Eストアー社 and Port社 as factors behind the increases in revenue and profit. For operating profit, it explained that depreciation and amortisation of goodwill and other assets increased due to the consolidation of Eストアー社 and Port社. For selling, general and administrative expenses, it cited higher promotional costs resulting from the consolidation of Eストアー社 and promotional support for the BASE business. By contrast, want.jp's existing business and its "Simple Overseas Sales" service progressed below expectations, while YELL BANK also fell short of expectations due in part to strengthened risk management.
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