Worth reading
68In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
143
¥ million (year-on-year increase in revenue)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFirst quarter of the fiscal year ending December 202611 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,791 million+8.7%
Ordinary income¥753 million+17.0%
Net income¥480 million+17.0%
Full-year earnings forecast
Net Sales
¥6,610 million
Ordinary income
¥2,380 million
Net income
¥1,500 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 Sales27.1％
Ordinary income31.6％
Net income32.0％
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Above planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
For ordinary profit, changes from the year-earlier period are shown for the auction agency service, AS One-Plaza service, gross profit, selling, general and administrative expenses, other income and non-operating income and expenses. Changes against plan are shown for the auction agency service, AS One-Plaza service, gross profit, selling, general and administrative expenses, other income and non-operating income and expenses. The amounts attributable to each factor are not shown in a legible form.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The company expects the usage mix of the 2 services to return to normal and temporary cost increases associated with BCP measures and other initiatives. Numerical assumptions: not disclosed.New initiatives
- Addition of a third AI function to the AS One-Plaza listing tool
- Launch of a used-car leasing service for company vehicles through a partnership with ORIX Auto Corporation
- Launch of “WEB Membership,” the ASNET online membership registration system
Key KPIsA metric the company considers important as a management benchmark.
- ASNET total transaction volume63,952 UnitsYear on year against the same period last year+2.3％
- Auction agency transaction volume35,261 UnitsYear on year against the same period last year-9.0％
- AS One-Plaza transaction volume28,691 UnitsYear on year against the same period last year+20.8％
- ASNET penetration rate in used-car distribution3.59 ％Year on year against the same period last year+0.04 percentage points
- Number of ASNET members84,403 MembersYear on year against the same period last year+3.8％
- Active members18,130 MembersYear on year against the same period last year+2.9％
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Auction agency revenue per vehicle20,864 JPY/vehicle
- AS One-Plaza revenue per vehicle33,790 JPY/vehicle
- Auction agency transaction volume35,261 UnitsYear on year against the same period last year-9.0％
- AS One-Plaza transaction volume28,691 UnitsYear on year against the same period last year+20.8％
Financial targets
Equity ratio59.6％
ROE14.7％
ROA9.1％
ROIC13.4％
Cost of shareholders’ equity7.0％
WACC6.0％
Equity spread7.7％
ROIC and spread7.4％
Market Size / Share
Used-car distribution market size6.0–7.0 million vehicles annually
ASNET involvement rate3.59% in 1Q 2026; 4.26% in January 2026 alone
Number of employees
115 people
Reference dateEnd of December 2025
Annual Dividend
¥67 per share
BreakdownYear-end dividend of JPY 67 (in principle, a year-end dividend is paid once a year)
Payout ratio
32.4% (forecast)| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | First quarter of the fiscal year ending December 2026 |
| Net Sales | ¥1,791 million (YoY +8.7%) |
| Ordinary income | ¥753 million (YoY +17.0%) |
| Net income | ¥480 million (YoY +17.0%) |
| Full-year earnings forecast | Net Sales ¥6,610 million / Ordinary income ¥2,380 million / Net income ¥1,500 million |
| Progress against full-year forecast | Net Sales 27.1％ / Ordinary income 31.6％ / Net income 32.0％ |
| Self-assessment against the plan | Above plan |
| Breakdown of Factors Affecting the Change | For ordinary profit, changes from the year-earlier period are shown for the auction agency service, AS One-Plaza service, gross profit, selling, general and administrative expenses, other income and non-operating income and expenses. Changes against plan are shown for the auction agency service, AS One-Plaza service, gross profit, selling, general and administrative expenses, other income and non-operating income and expenses. The amounts attributable to each factor are not shown in a legible form. |
| Key KPIs | ASNET total transaction volume 63,952 Units, Auction agency transaction volume 35,261 Units, AS One-Plaza transaction volume 28,691 Units, ASNET penetration rate in used-car distribution 3.59 ％, Number of ASNET members 84,403 Members, Active members 18,130 Members |
| Unit price and quantity metrics | Auction agency revenue per vehicle 20,864 JPY/vehicle, AS One-Plaza revenue per vehicle 33,790 JPY/vehicle, Auction agency transaction volume 35,261 Units, AS One-Plaza transaction volume 28,691 Units |
| Number of employees | 115 people |
| Assumptions Underlying the Business Outlook | The company expects the usage mix of the 2 services to return to normal and temporary cost increases associated with BCP measures and other initiatives. Numerical assumptions: not disclosed. |
| Financial targets | Equity ratio 59.6％ / ROE 14.7％ / ROA 9.1％ / ROIC 13.4％ / Cost of shareholders’ equity 7.0％ / WACC 6.0％ / Equity spread 7.7％ / ROIC and spread 7.4％ |
| Annual Dividend | ¥67 per share |
| Payout ratio | 32.4% (forecast) |
| Market Size / Share | Used-car distribution market size 6.0–7.0 million vehicles annually / ASNET involvement rate 3.59% in 1Q 2026; 4.26% in January 2026 alone |
| New initiatives | Addition of a third AI function to the AS One-Plaza listing tool, Launch of a used-car leasing service for company vehicles through a partnership with ORIX Auto Corporation, Launch of “WEB Membership,” the ASNET online membership registration system |
Items this document does not state (13)
Operating profitGross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterSegment resultsNumber of stores and locationsRisk amount incorporated into the outlookMedium-term management plan 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.Although used-car distribution remained stable, prices continued to rise, while transaction volume for the highly profitable AS One-Plaza service increased, pushing up revenue and profit. The auction agency service continued to face difficulty winning bids because of high prices.
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.