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Financial results presentation6191AirTrip Corp.Information and Communications, Services and Others

Second-Quarter Financial Results Presentation for the Fiscal Year Ending September 2026

In the second quarter of FY2026.9, growth in online travel slowed, but inbound travel, IT development, investments and other businesses expanded. Operating profit before impairment and other adjustments was ¥2.77 billion, up 155.3% year on year. The company also resolved to acquire treasury shares for up to ¥2.5 billion for shareholder returns and future M&A.

Worth reading
62In focus
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Direction
Improvement
Direction inferred from the company’s description.
Scale
27.7
¥100 million (operating profit before impairment and other adjustments)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationSecond quarter of the fiscal year ending September 202611 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥17,739 million+35.5%
Operating profit¥2,776 million +55.3%before impairment and other adjustments
Net income¥1,867 million +106.3%net income attributable to owners of the parent
Selling, general and administrative expensesApproximately ¥1.05 billion per month
Operating profit margin15.6% before impairment and other adjustments, up 2.0 percentage points from 13.6% in the same period last year. After impairment and other adjustments, the margin was 14.1%, compared with 11.7% in the same period last year.
Results for the three months of the current quarterStandalone Q2 FY2026.9: transaction volume of ¥61,771 million, revenue of ¥17,739 million, gross profit of ¥9,097 million, operating profit of ¥2,776 million before impairment and other adjustments, operating profit of ¥2,505 million after impairment and other adjustments, and net income attributable to owners of the parent of ¥1,867 million.
Full-year earnings forecast
Transaction volume¥135,000 million
Revenue¥34,000 million
Operating profit¥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。
Transaction volume45.8%
Revenue52.2%
Operating profit167.0%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Generally progressing in line with the full-year forecast
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Online travel¥296 million; year-on-year change in operating profit before impairment and other adjustments
Inbound Tourism¥112 million; year-on-year change in operating profit before impairment and other adjustments
IT development¥156 million; year-on-year change in operating profit before impairment and other adjustments
Investment¥357 million; year-on-year change in operating profit before impairment and other adjustments
Other¥66 million; year-on-year change in operating profit before impairment and other adjustments
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
FY25.9 transaction volume120,300
FY26.9 transaction volume135,000
FY25.9 take rate13.4%
FY26.9 take rateExpected to remain at the same level as in FY25.9
FY25.9 variable cost ratio44.3% of gross profit
FY26.9 variable cost ratioPlanned to remain at the same level as FY25.9
Fixed CostsApproximately 110% of FY25.9
FY26.9 fixed costsExpected to increase by approximately 10% year on year, mainly due to personnel expenses and other costs
New initiatives
  • Share Repurchases
  • Launch of a beauty franchise business through the conversion of SPEED spring into a subsidiary
  • Launch of a portal website business through the acquisition of the Travel.jp business
  • Capital and business alliance with The Service Platform Co., Ltd.
  • Holding AirTrip Fes 2026
  • Investment in hotels, Shinkansen services, rental cars and express buses in the AirTrip travel business
  • Increase in the mandatory retirement age for officers from 56 to 60
Key KPIsA metric the company considers important as a management benchmark.
  • Consolidated transaction volume¥618 100 million
    Year on year against the same period last year109.0%
  • Number of B2B customers4,083 companies
  • B2B business ARR¥13.8 100 million
  • Number of businesses in the AirTrip ecosystem22 Business
    Year on year against the same period last year+3 businesses
  • Number of M&A and capital and business alliances5 Engagements
    Year on year against the same period last year±1 transaction
  • Number of AirTrip CVC portfolio companies149 companies
    Year on year against the same period last year+5 companies
  • Number of portfolio company IPOs1 Engagements
    Year on year against the same period last year-3 deals
  • Number of paid members of the CXO Salon800 companies
Segment results
Online travel
Transaction volume44,002
Revenue8,654
Operating profit (before impairment and other adjustments)1,492
Operating profit for the same period of the previous year1,196
Inbound Tourism
Transaction volume6,301
Revenue1,991
Operating profit (before impairment and other adjustments)253
Operating profit for the same period of the previous year141
IT development
Transaction volume3,538
Revenue3,538
Operating profit (before impairment and other adjustments)107
Operating profit for the same period of the previous year-49
Investment
Transaction volume340
Revenue340
Operating profit (before impairment and other adjustments)671
Operating profit for the same period of the previous year314
Other
Transaction volume7,588
Revenue3,214
Operating profit (before impairment and other adjustments)250
Operating profit for the same period of the previous year184
Medium-term management plan targets
AirTrip 5000
TargetGroup consolidated transaction volume of ¥500.0 billion and operating profit of ¥5.0 billion before impairment and other adjustments
Target fiscal yearOperating profit of ¥5.0 billion by FY2028.9, followed by ¥10.0 billion
Financial targets
Equity ratio of 48.4% (Q2 FY2026.9). The target value for the financial objective was Not disclosed.
Number of stores and locations
197 BUPURA franchise locations (as of March 2026). The number of openings and closures during the period was Not disclosed.
Acquisition of treasury shares
Buyback limit¥1,740,000,000 (maximum)
Number of shares acquired2,500,000 shares (maximum, 11.0% of total shares issued)
Period18 May 2026 to 30 September 2026
Gross profit
¥9,097 million, or 51.2% of revenue. The comparable figure for the same period last year was ¥7,358 million, or 56.1%. The margin declined by 4.9 percentage points.
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredSecond quarter of the fiscal year ending September 2026
Net Sales¥17,739 million (YoY +35.5%)
Operating profit¥2,776 million (before impairment and other adjustments) (YoY +55.3%)
Net income¥1,867 million (net income attributable to owners of the parent) (YoY +106.3%)
Gross profit¥9,097 million, or 51.2% of revenue. The comparable figure for the same period last year was ¥7,358 million, or 56.1%. The margin declined by 4.9 percentage points.
Operating profit margin15.6% before impairment and other adjustments, up 2.0 percentage points from 13.6% in the same period last year. After impairment and other adjustments, the margin was 14.1%, compared with 11.7% in the same period last year.
Selling, general and administrative expensesApproximately ¥1.05 billion per month
Results for the three months of the current quarterStandalone Q2 FY2026.9: transaction volume of ¥61,771 million, revenue of ¥17,739 million, gross profit of ¥9,097 million, operating profit of ¥2,776 million before impairment and other adjustments, operating profit of ¥2,505 million after impairment and other adjustments, and net income attributable to owners of the parent of ¥1,867 million.
Full-year earnings forecastTransaction volume ¥135,000 million / Revenue ¥34,000 million / Operating profit ¥1,500 million
Progress against full-year forecastTransaction volume 45.8% / Revenue 52.2% / Operating profit 167.0%
Self-assessment against the planGenerally progressing in line with the full-year forecast
Segment resultsOnline travel Transaction volume 44,002 / Revenue 8,654 / Operating profit (before impairment and other adjustments) 1,492 / Operating profit for the same period of the previous year 1,196 / Inbound Tourism Transaction volume 6,301 / Revenue 1,991 / Operating profit (before impairment and other adjustments) 253 / Operating profit for the same period of the previous year 141 / IT development Transaction volume 3,538 / Revenue 3,538 / Operating profit (before impairment and other adjustments) 107 / Operating profit for the same period of the previous year -49 / Investment Transaction volume 340 / Revenue 340 / Operating profit (before impairment and other adjustments) 671 / Operating profit for the same period of the previous year 314 / Other Transaction volume 7,588 / Revenue 3,214 / Operating profit (before impairment and other adjustments) 250 / Operating profit for the same period of the previous year 184
Breakdown of Factors Affecting the ChangeOnline travel ¥296 million; year-on-year change in operating profit before impairment and other adjustments / Inbound Tourism ¥112 million; year-on-year change in operating profit before impairment and other adjustments / IT development ¥156 million; year-on-year change in operating profit before impairment and other adjustments / Investment ¥357 million; year-on-year change in operating profit before impairment and other adjustments / Other ¥66 million; year-on-year change in operating profit before impairment and other adjustments
Key KPIs¥618 100 million, 4,083 companies, ¥13.8 100 million, 22 Business, 5 Engagements, 149 companies, 1 Engagements, 800 companies
Number of stores and locations197 BUPURA franchise locations (as of March 2026). The number of openings and closures during the period was Not disclosed.
Assumptions Underlying the Business OutlookFY25.9 transaction volume 120,300 / FY26.9 transaction volume 135,000 / FY25.9 take rate 13.4% / FY26.9 take rate Expected to remain at the same level as in FY25.9 / FY25.9 variable cost ratio 44.3% of gross profit / FY26.9 variable cost ratio Planned to remain at the same level as FY25.9 / Fixed Costs Approximately 110% of FY25.9 / FY26.9 fixed costs Expected to increase by approximately 10% year on year, mainly due to personnel expenses and other costs
Medium-term management plan targetsName AirTrip 5000 / Target Group consolidated transaction volume of ¥500.0 billion and operating profit of ¥5.0 billion before impairment and other adjustments / Target fiscal year Operating profit of ¥5.0 billion by FY2028.9, followed by ¥10.0 billion / Comparison with actual results Not disclosed
Financial targetsEquity ratio of 48.4% (Q2 FY2026.9). The target value for the financial objective was Not disclosed.
Acquisition of treasury sharesBuyback limit ¥1,740,000,000 (maximum) / Number of shares acquired 2,500,000 shares (maximum, 11.0% of total shares issued) / Period 18 May 2026 to 30 September 2026
New initiativesShare Repurchases, Launch of a beauty franchise business through the conversion of SPEED spring into a subsidiary, Launch of a portal website business through the acquisition of the Travel.jp business, Capital and business alliance with The Service Platform Co., Ltd., Holding AirTrip Fes 2026, Investment in hotels, Shinkansen services, rental cars and express buses in the AirTrip travel business, Increase in the mandatory retirement age for officers from 56 to 60
Items this document does not state (10)
Ordinary incomeUnit price and quantity metricsNumber of employeesRisk amount incorporated into the outlookAnnual DividendPayout ratioCapital 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.

The strong performance of the inbound travel, IT development, investment and other business segments, together with the expansion of the business portfolio through M&A and capital and business alliances, supported results despite the slowdown in online travel growth. The treasury share acquisition is intended to enhance shareholder returns and use part of the consideration for future M&A.

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Second-Quarter Financial Results Presentation for the Fiscal Year Ending September 2026 | AirTrip Corp. (6191) timely disclosure | Komori