Worth reading
65In 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
305
¥ million (year-on-year increase in revenue)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsSecond 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¥3,595 million+9.3%
Ordinary income¥1,419 million+18.4%
Net income¥889 million+18.9%
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 Sales54.4％
Ordinary income59.6％
Net income59.3％
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Above plan / full-year outlook unchangedBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Year on year against the same period last yearDecrease in auction agency transactions, increase in AS One-Plaza transactions, ¥48.284 million increase in depreciation and amortization, ¥20.819 million increase in personnel expenses
Versus planDecrease in auction agency transactions, increase in AS One-Plaza transactions, ¥240.347 million increase in other income, ¥5.307 million increase in selling, general and administrative expenses, ¥4.244 million decrease in non-operating income and expenses, ¥2.131 million in other income and expenses
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Used-car distribution is difficult to forecast. No particular factors that would worsen profitability are expected in the second half. The potential upside is within the revision threshold.New initiatives
- Renewal of ASNET market information
- Expanded use of image-recognition and image-processing AI
- Introduction of AI into the retail support system
- Financial support partnership with Shinsei Financial, "Lake de Business"
- Financial support partnership with APLUS, "RiseAPLUSCARD BIZ"
- Expansion of retail support and financial support services
- Business continuity planning using a new data center
Key KPIsA metric the company considers important as a management benchmark.
- ASNET total transaction volume127,890 UnitsYear on year against the same period last year+3.1％
- Number of ASNET members85,054 MembersYear on year against the same period last year+3.6％
- ASNET involvement rate in used-car distribution3.79 ％Year on year against the same period last yearUp from 3.71% in the year-earlier period
- AS One-Plaza transaction volume57,401 UnitsYear on year against the same period last year+19.6％
- Auction agency transaction volume70,489 UnitsYear on year against the same period last year▲7.4％
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Auction agency
Selling price¥23,192 per unit
AS One-Plaza
Selling price¥30,199 per unit
Financial targets
Equity ratio59.0％
ROE13.4％
ROA8.2％
ROIC12.6％
Cost of shareholders’ equity8.0％
WACC7.0％
Market Size / Share
Used-car distribution volume3.371 million vehicles in the six months ended June, up 0.7% year on year
Number of vehicles listed in used-car auctions4.308 million vehicles listed in used-car auctions in the six months ended June, up 1.3% year on year
ASNET involvement rate4.02% in the second quarter of fiscal 2026
Number of employees
115 people
As ofEnd of December 2025
Annual Dividend
¥67 per share
BreakdownYear-end dividend, generally paid once a year
Payout ratio
32.4% (forecast)| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Second quarter of the fiscal year ending December 2026 |
| Net Sales | ¥3,595 million (YoY +9.3%) |
| Ordinary income | ¥1,419 million (YoY +18.4%) |
| Net income | ¥889 million (YoY +18.9%) |
| 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 54.4％ / Ordinary income 59.6％ / Net income 59.3％ |
| Self-assessment against the plan | Above plan / full-year outlook unchanged |
| Breakdown of Factors Affecting the Change | Year on year against the same period last year Decrease in auction agency transactions, increase in AS One-Plaza transactions, ¥48.284 million increase in depreciation and amortization, ¥20.819 million increase in personnel expenses / Versus plan Decrease in auction agency transactions, increase in AS One-Plaza transactions, ¥240.347 million increase in other income, ¥5.307 million increase in selling, general and administrative expenses, ¥4.244 million decrease in non-operating income and expenses, ¥2.131 million in other income and expenses |
| Key KPIs | ASNET total transaction volume 127,890 Units, Number of ASNET members 85,054 Members, ASNET involvement rate in used-car distribution 3.79 ％, AS One-Plaza transaction volume 57,401 Units, Auction agency transaction volume 70,489 Units |
| Unit price and quantity metrics | Auction agency Selling price ¥23,192 per unit / AS One-Plaza Selling price ¥30,199 per unit |
| Number of employees | 115 people |
| Assumptions Underlying the Business Outlook | Used-car distribution is difficult to forecast. No particular factors that would worsen profitability are expected in the second half. The potential upside is within the revision threshold. |
| Financial targets | Equity ratio 59.0％ / ROE 13.4％ / ROA 8.2％ / ROIC 12.6％ / Cost of shareholders’ equity 8.0％ / WACC 7.0％ |
| Annual Dividend | ¥67 per share |
| Payout ratio | 32.4% (forecast) |
| Market Size / Share | Used-car distribution volume 3.371 million vehicles in the six months ended June, up 0.7% year on year / Number of vehicles listed in used-car auctions 4.308 million vehicles listed in used-car auctions in the six months ended June, up 1.3% year on year / ASNET involvement rate 4.02% in the second quarter of fiscal 2026 |
| New initiatives | Renewal of ASNET market information, Expanded use of image-recognition and image-processing AI, Introduction of AI into the retail support system, Financial support partnership with Shinsei Financial, "Lake de Business", Financial support partnership with APLUS, "RiseAPLUSCARD BIZ", Expansion of retail support and financial support services, Business continuity planning using a new data center |
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.While used-car prices remained high, the high-margin AS One-Plaza service drove performance. Transactions through AS One-Plaza increased due to sourcing needs arising from the difficulty of purchasing vehicles at auctions, growth in and increased awareness of the service, use of wholesale transactions by used-car dealers, and expanded use by exporters.
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.