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Presentation materials for financial results5842Integral Group CorporationFinancials (excluding banks)

Financial Results Presentation for the First Quarter of the Fiscal Year Ending December 2026

In the first quarter of the fiscal year ending December 2026, revenue and profit increased substantially year on year, mainly due to carried interest income received from the No. 3 fund series. Meanwhile, the fair value of PE portfolio investments declined, while investments in real estate and new investments progressed.

Worth reading
49Recurring
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
10280
¥ millions (year-on-year increase in revenue)
Wording
Conditional
How definitive the wording is.

Contents of this document

Presentation materials for financial resultsFirst quarter of the fiscal year ending December 20267 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥11,283 million
Operating profit¥9,680 million
Ordinary income¥9,659 million
Net income¥6,732 million
Selling, general and administrative expenses¥1,602 million
Results for the three months of the current quarter
Revenue
¥11,283 million
Operating profit
¥9,680 million
Profit before tax
¥9,659 million
Profit for the period
¥6,732 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Total investment income
    2025Q1-¥755 million
    2026Q1¥275 million
    Year on year against the same period last year+¥1 billion
  • Recurring revenue
    2025Q1¥1.7 billion
    2026Q1¥2 billion
    Year on year against the same period last year+¥0.3 billion
  • Realized carried interest
    2025Q1¥0
    2026Q1¥8.9 billion
    Year on year against the same period last year+¥8.9 billion
New initiatives
  • Capital investment in 八十島プロシード株式会社
  • 3 additional investments in existing veterinary hospital groups
  • Final close of Real Estate Fund No. 1
  • Establishment of a JV and co-investment fund with Granite Asia Capital
  • Execution of 2 global technology growth investments
Key KPIsA metric the company considers important as a management benchmark.
  • FE-AUM3,685 Hundreds of millions of yen
  • AUM5,103 Hundreds of millions of yen
  • Fund fair value3,156 Hundreds of millions of yen
  • Economic net asset value855 Hundreds of millions of yen
  • Unrealized carried interest552 Hundreds of millions of yen
  • No. 3 series DPI3.2 times
  • No. 4 series DPI0.8 times
  • Gross MOIC3.1 times
  • Gross IRR30.5 %
Segment results
Private equity investment business
Revenue
¥10,535 million
Segment profit
¥9,648 million
Real Estate Investment Business
Revenue
¥683 million
Segment profit
¥575 million
Other
Revenue
¥64 million
Segment profit
¥16 million
Financial targets
Five-year average ROEApproximately 15%
DOE2%
Principal investment return MOICApproximately 3.0x
Number of employees
Number of Employees74 investment professionals / 115 employees group-wide
Payout ratio
DOE 2%
Contents of this document
ItemDetails
Document typePresentation materials for financial results
Fiscal Period CoveredFirst quarter of the fiscal year ending December 2026
Net Sales¥11,283 million
Operating profit¥9,680 million
Ordinary income¥9,659 million
Net income¥6,732 million
Selling, general and administrative expenses¥1,602 million
Results for the three months of the current quarterRevenue ¥11,283 million / Operating profit ¥9,680 million / Profit before tax ¥9,659 million / Profit for the period ¥6,732 million
Segment resultsPrivate equity investment business Revenue ¥10,535 million / Segment profit ¥9,648 million / Real Estate Investment Business Revenue ¥683 million / Segment profit ¥575 million / Other Revenue ¥64 million / Segment profit ¥16 million
Breakdown of Factors Affecting the ChangeFactors Total investment income / 2025Q1 -¥755 million / 2026Q1 ¥275 million / Year on year against the same period last year +¥1 billion, Factors Recurring revenue / 2025Q1 ¥1.7 billion / 2026Q1 ¥2 billion / Year on year against the same period last year +¥0.3 billion, Factors Realized carried interest / 2025Q1 ¥0 / 2026Q1 ¥8.9 billion / Year on year against the same period last year +¥8.9 billion
Key KPIsIndicator FE-AUM / Value 3,685 Hundreds of millions of yen / Year on year against the same period last year Not disclosed, Indicator AUM / Value 5,103 Hundreds of millions of yen / Year on year against the same period last year Not disclosed, Indicator Fund fair value / Value 3,156 Hundreds of millions of yen / Year on year against the same period last year Not disclosed, Indicator Economic net asset value / Value 855 Hundreds of millions of yen / Year on year against the same period last year Not disclosed, Indicator Unrealized carried interest / Value 552 Hundreds of millions of yen / Year on year against the same period last year Not disclosed, Indicator No. 3 series DPI / Value 3.2 times / Year on year against the same period last year Not disclosed, Indicator No. 4 series DPI / Value 0.8 times / Year on year against the same period last year Not disclosed, Indicator Gross MOIC / Value 3.1 times / Year on year against the same period last year Not disclosed, Indicator Gross IRR / Value 30.5 % / Year on year against the same period last year Not disclosed
Number of employeesNumber of Employees 74 investment professionals / 115 employees group-wide / Change during the period Not disclosed
Financial targetsFive-year average ROE Approximately 15% / DOE 2% / Principal investment return MOIC Approximately 3.0x
Payout ratioDOE 2%
New initiativesCapital investment in 八十島プロシード株式会社, 3 additional investments in existing veterinary hospital groups, Final close of Real Estate Fund No. 1, Establishment of a JV and co-investment fund with Granite Asia Capital, Execution of 2 global technology growth investments
Items this document does not state (16)
Gross Profit MarginOperating profit marginFull-year earnings forecastProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsAnnual DividendAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / ShareKey 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.

¥8.9 billion in carried interest income was received from the No. 3 fund series, while recurring revenue increased following the start of the investment period for the No. 5 fund series. In real estate, investment income increased due to the reflection of transaction prices for assets sold and changes in valuation methods, among other factors. In PE, fair value declined due to share-price fluctuations at listed portfolio companies and deterioration in various indicators at unlisted portfolio companies.

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Financial Results Presentation for the First Quarter of the Fiscal Year Ending December 2026 | Integral Group Corporation (5842) timely disclosure | Komori