Worth reading
60In focus
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
51.6
Year-on-year change in operating income (%)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ending September 20267 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥28,292 million+26.0%
Operating profit¥10,804 million+51.6%
Net income¥7,863 million+55.1%
Gross Profit Margin63 %
Operating profit margin38.2 %
Selling, general and administrative expenses¥7,011 million
Full-year earnings forecast
Fiscal year ending September 2026
Net Sales
¥28,328 million
Operating profit
¥10,891 million
Fiscal year ending September 2027, consolidated
Net Sales
¥34,517 million
Operating profit
¥12,144 million
Number of Transactions Closed
354 Deals
Large deals
76 Deals
Number of consultants
375 people
Fiscal year ending September 2027, non-consolidated
Net Sales
¥31,914 million
Operating profit
¥12,564 million
Number of Transactions Closed
334 Deals
Large deals
73 Deals
Number of consultants
346 people
Fiscal year ending September 2027, レコフ
Net Sales
¥1,500 million
Operating profit
¥118 million
Number of Transactions Closed
20 Deals
Large deals
3 Deals
Number of consultants
29 people
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。
Consolidated revenue99.9
Consolidated operating profit99.2
Consolidated deals closed103.2
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Both the standalone company and RECOF broadly finished in line with the revised forecasts.Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- ¥900 millionDetailsImpairment loss associated with the renewal of RECOF’s office lease agreement
- ¥200 millionDetailsAccelerated depreciation associated with MACP’s office relocation plan
- ¥200 millionDetailsFirst base-pay increase since listing
New initiatives
- AI matching through the implementation of Salesforce Data 360
- Advanced KPI management to strengthen business development capabilities and improve productivity
- Office relocation plan
- First base-pay increase since listing
Key KPIsA metric the company considers important as a management benchmark.
- Number of deals closed (consolidated)291 DealsYear on year against the same period last year+17.3%
- Large deals (consolidated)63 DealsYear on year against the same period last year+1.6%
- Number of consultants (consolidated)302 peopleYear on year against the same period last year+44.0%
- Number of retained engagements (non-consolidated)843 DealsYear on year against the same period last year+27.3%
- Contract liabilities (consolidated)¥2,189 millionYear on year against the same period last year+59.0%
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
- ¥900 millionDetailsImpairment loss associated with the renewal of RECOF’s office lease agreement
- ¥200 millionDetailsAccelerated depreciation resulting from the office relocation plan
- ¥200 millionDetailsFirst base-pay increase since listing
Market Size / Share
- DetailsBased on the number of domestic transactions advised in 2025Figure212 transactions
- Details2025 global M&A mid-market transaction ranking by number of transactionsFigure214 transactions, 13th place
- DetailsProportion of referred transactions in the fiscal year ended September 2026Figure3.6%
Number of employees
Number of EmployeesConsolidated: 418; standalone: 345
Hiring planFull-year plan to increase headcount by 25% (standalone: 346); consolidated forecast: 375
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ending September 2026 |
| Net Sales | ¥28,292 million (YoY +26.0%) |
| Operating profit | ¥10,804 million (YoY +51.6%) |
| Net income | ¥7,863 million (YoY +55.1%) |
| Gross Profit Margin | 63 % |
| Operating profit margin | 38.2 % |
| Selling, general and administrative expenses | ¥7,011 million |
| Full-year earnings forecast | Fiscal year ending September 2026 Net Sales ¥28,328 million / Operating profit ¥10,891 million / Fiscal year ending September 2027, consolidated Net Sales ¥34,517 million / Operating profit ¥12,144 million / Number of Transactions Closed 354 Deals / Large deals 76 Deals / Number of consultants 375 people / Fiscal year ending September 2027, non-consolidated Net Sales ¥31,914 million / Operating profit ¥12,564 million / Number of Transactions Closed 334 Deals / Large deals 73 Deals / Number of consultants 346 people / Fiscal year ending September 2027, レコフ Net Sales ¥1,500 million / Operating profit ¥118 million / Number of Transactions Closed 20 Deals / Large deals 3 Deals / Number of consultants 29 people |
| Progress against full-year forecast | Consolidated revenue 99.9 / Consolidated operating profit 99.2 / Consolidated deals closed 103.2 |
| Self-assessment against the plan | Both the standalone company and RECOF broadly finished in line with the revised forecasts. |
| Key KPIs | Indicator name Number of deals closed (consolidated) / Value 291 Deals / Year on year against the same period last year 17.3 Deals, Indicator name Large deals (consolidated) / Value 63 Deals / Year on year against the same period last year 1.6 Deals, Indicator name Number of consultants (consolidated) / Value 302 people / Year on year against the same period last year 44 people, Indicator name Number of retained engagements (non-consolidated) / Value 843 Deals / Year on year against the same period last year 27.3 Deals, Indicator name Contract liabilities (consolidated) / Value ¥2,189 million / Year on year against the same period last year ¥59 million |
| Number of employees | Number of Employees Consolidated: 418; standalone: 345 / Change during the period Not disclosed / Hiring plan Full-year plan to increase headcount by 25% (standalone: 346); consolidated forecast: 375 |
| Assumptions Underlying the Business Outlook | Details Impairment loss associated with the renewal of RECOF’s office lease agreement / Amount ¥900 million, Details Accelerated depreciation associated with MACP’s office relocation plan / Amount ¥200 million, Details First base-pay increase since listing / Amount ¥200 million |
| Risk amount incorporated into the outlook | Amount ¥900 million / Details Impairment loss associated with the renewal of RECOF’s office lease agreement, Amount ¥200 million / Details Accelerated depreciation resulting from the office relocation plan, Amount ¥200 million / Details First base-pay increase since listing |
| Market Size / Share | Details Based on the number of domestic transactions advised in 2025 / Figure 212 transactions, Details 2025 global M&A mid-market transaction ranking by number of transactions / Figure 214 transactions, 13th place, Details Proportion of referred transactions in the fiscal year ended September 2026 / Figure 3.6% |
| New initiatives | AI matching through the implementation of Salesforce Data 360, Advanced KPI management to strengthen business development capabilities and improve productivity, Office relocation plan, First base-pay increase since listing |
Items this document does not state (14)
Ordinary incomeResults for the three months of the current quarterSegment resultsBreakdown of Factors Affecting the ChangeUnit price and quantity metricsNumber of stores and locationsMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioAcquisition 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.On a consolidated basis, the number of completed transactions and large transactions reached record highs. On a standalone basis, the increase in the number of consultants, commissioned transactions and contract liabilities, among other factors, supported results. Regarding RECOF, the company explained that the fundamental causes of the decline in completed transactions were the shifting of several transactions, including planned large transactions, into different periods and a decline in business development capabilities accompanying the decrease in the number of consultants.
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.