Worth reading
63In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
50.5
¥100 million (operating profit before impairment and other adjustments)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentation materialsFourth quarter (full year) of the fiscal year ended September 202611 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥378.1 100 million+134.5%
Operating profit¥50.5 100 million +108.5%before impairment losses and other items
Net income¥12.63 hundreds of millions profit attributable to owners of the parent, FY26.4Q standalone
Gross Profit Margin50.7 % FY26.4Q standalone
Operating profit margin13.3 % before impairment and other charges, FY26.4Q standalone
Results for the three months of the current quarter
Transaction volume
¥1,275.67 100 million+106.0%
Revenue
¥378.13 100 million+134.5%
Gross profit
¥192.03 100 million+119.1%
Operating profit (before impairment and other adjustments)
¥50.52 100 million+108.5%
Operating profit (after impairment losses, etc.)
¥26.16 100 million+84.4%
Profit for the period attributable to owners of the parent
¥12.63 100 million
Full-year earnings forecast
FY ending September 2027
Transaction volume
¥1,350 100 million
Revenue
¥400 100 million
Operating profit (before impairment and other adjustments)
¥50 100 million
Interim Dividend
¥70 per share
Year-end dividend
¥100 per share
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 volume94.5 % versus the revised full-year forecast for FY26.9
Revenue111.2 % versus the revised full-year forecast for FY26.9
Operating profit (before impairment and other adjustments)111.5 % versus the revised full-year forecast for FY26.9
Operating profit after tax (before impairment and other items)100.1 % versus the revised full-year forecast for FY26.9
Operating profit (after impairment losses, etc.)87.2 % versus the revised full-year forecast for FY26.9
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Results were broadly in line with the full-year earnings forecast for FY26.9Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Online travel operating income¥-5.32 100 million
- Inbound operating income¥0.77 100 million
- IT development operating income¥2.28 100 million
- Investment Operating Profit¥1.49 100 million
- Other エアトリ ecosystem operating income¥4.72 100 million
- Impairment losses, etc.¥-24.4 100 million
New initiatives
- Reformulation of the new medium- to long-term growth strategy, “エアトリ 100”
- Introduce interim dividends and pay dividends twice a year starting from the fiscal year ending September 2027
- Continue M&A and capital and business alliances
- Expand the beauty franchise business by making Habit Pilates a subsidiary
- Plan to introduce a program supporting employees in balancing work and caregiving
- Formulate a policy for addressing defamation and other harmful content
Key KPIsA metric the company considers important as a management benchmark.
- Transaction Value¥1,276 100 millionYear on year against the same period last year106.0%
- B2B business ARR¥14.1 100 million
- Number of businesses23 BusinessesYear on year against the same period last year+2 businesses
- Number of M&A and capital and business alliances11 projectsYear on year against the same period last year+3 visits
- Number of AirTrip CVC portfolio companies155 companiesYear on year against the same period last year+10 companies
- Number of IPOs by エアトリ CVC in the current fiscal year1 projectsYear on year against the same period last year-3 deals
- Number of paid members of the AirTrip CXO Salon900 companies
- Total number of companies transacted with4,133 companies
- Average employee overtime hours15.9 Time
Segment results
- segmentOnline travelTransaction volume¥899.75 100 millionRevenue¥183.43 100 millionOperating profit (before impairment and other adjustments)¥26.02 100 millionOperating profit (after impairment losses, etc.)¥24.39 100 million
- segmentInbound TourismTransaction volume¥118.07 100 millionRevenue¥37.92 100 millionOperating profit (before impairment and other adjustments)¥3.81 100 millionOperating profit (after impairment losses, etc.)¥3.81 100 million
- segmentIT developmentTransaction volume¥75.72 100 millionRevenue¥75.72 100 millionOperating profit (before impairment and other adjustments)¥1.25 100 millionOperating profit (after impairment losses, etc.)¥-9.71 100 million
- segmentInvestmentTransaction volume¥6.94 100 millionRevenue¥6.94 100 millionOperating profit (before impairment and other adjustments)¥12.19 100 millionOperating profit (after impairment losses, etc.)¥1.77 100 million
- segmentOther AirTrip economic zone businessesTransaction volume¥175.17 100 millionRevenue¥74.09 100 millionOperating profit (before impairment and other adjustments)¥7.23 100 millionOperating profit (after impairment losses, etc.)¥5.89 100 million
Medium-term management plan targets
Operating profit
¥100 100 million before impairment losses and other items
IT development revenue
¥110 100 million
Target fiscal yearFiscal year ending September 2029
IT development EBITDA
¥11.8 100 million
Target fiscal yearFiscal year ending September 2029
Number of stores and locations
Number of beauty franchise stores282 Store
Number of employees
Average overtime hours
15.9 Hours actual for the fiscal year ended September 2026
Annual Dividend
FY ending September 2026
¥160 per share
End of period160
FY ending September 2027
¥170 per share
Interim70
End of period100
Payout ratio
100 % relative to operating income after tax and before impairment and other charges
Total shareholder returns
100 Over ¥10 billion the 3 fiscal years from FY26.9 through FY28.9
Acquisition of treasury shares
¥24.2 100 million
PeriodImplemented in FY26.9
| Item | Details |
|---|---|
| Document type | Earnings presentation materials |
| Fiscal Period Covered | Fourth quarter (full year) of the fiscal year ended September 2026 |
| Net Sales | ¥378.1 100 million (YoY +134.5%) |
| Operating profit | ¥50.5 100 million (before impairment losses and other items) (YoY +108.5%) |
| Net income | ¥12.63 hundreds of millions (profit attributable to owners of the parent, FY26.4Q standalone) |
| Gross Profit Margin | 50.7 % (FY26.4Q standalone) |
| Operating profit margin | 13.3 % (before impairment and other charges, FY26.4Q standalone) |
| Results for the three months of the current quarter | Transaction volume ¥1,275.67 100 million (YoY +106.0%) / Revenue ¥378.13 100 million (YoY +134.5%) / Gross profit ¥192.03 100 million (YoY +119.1%) / Operating profit (before impairment and other adjustments) ¥50.52 100 million (YoY +108.5%) / Operating profit (after impairment losses, etc.) ¥26.16 100 million (YoY +84.4%) / Profit for the period attributable to owners of the parent ¥12.63 100 million |
| Full-year earnings forecast | FY ending September 2027 Transaction volume ¥1,350 100 million / Revenue ¥400 100 million / Operating profit (before impairment and other adjustments) ¥50 100 million / Interim Dividend ¥70 per share / Year-end dividend ¥100 per share |
| Progress against full-year forecast | Transaction volume 94.5 % (versus the revised full-year forecast for FY26.9) / Revenue 111.2 % (versus the revised full-year forecast for FY26.9) / Operating profit (before impairment and other adjustments) 111.5 % (versus the revised full-year forecast for FY26.9) / Operating profit after tax (before impairment and other items) 100.1 % (versus the revised full-year forecast for FY26.9) / Operating profit (after impairment losses, etc.) 87.2 % (versus the revised full-year forecast for FY26.9) |
| Self-assessment against the plan | Results were broadly in line with the full-year earnings forecast for FY26.9 |
| Segment results | segment Online travel / Transaction volume ¥899.75 100 million / Revenue ¥183.43 100 million / Operating profit (before impairment and other adjustments) ¥26.02 100 million / Operating profit (after impairment losses, etc.) ¥24.39 100 million / yoy_profit_pct Not disclosed, segment Inbound Tourism / Transaction volume ¥118.07 100 million / Revenue ¥37.92 100 million / Operating profit (before impairment and other adjustments) ¥3.81 100 million / Operating profit (after impairment losses, etc.) ¥3.81 100 million / yoy_profit_pct Not disclosed, segment IT development / Transaction volume ¥75.72 100 million / Revenue ¥75.72 100 million / Operating profit (before impairment and other adjustments) ¥1.25 100 million / Operating profit (after impairment losses, etc.) ¥-9.71 100 million / yoy_profit_pct Not disclosed, segment Investment / Transaction volume ¥6.94 100 million / Revenue ¥6.94 100 million / Operating profit (before impairment and other adjustments) ¥12.19 100 million / Operating profit (after impairment losses, etc.) ¥1.77 100 million / yoy_profit_pct Not disclosed, segment Other AirTrip economic zone businesses / Transaction volume ¥175.17 100 million / Revenue ¥74.09 100 million / Operating profit (before impairment and other adjustments) ¥7.23 100 million / Operating profit (after impairment losses, etc.) ¥5.89 100 million / yoy_profit_pct Not disclosed |
| Breakdown of Factors Affecting the Change | Factors Online travel operating income / Amount ¥-5.32 100 million, Factors Inbound operating income / Amount ¥0.77 100 million, Factors IT development operating income / Amount ¥2.28 100 million, Factors Investment Operating Profit / Amount ¥1.49 100 million, Factors Other エアトリ ecosystem operating income / Amount ¥4.72 100 million, Factors Impairment losses, etc. / Amount ¥-24.4 100 million |
| Key KPIs | Indicator name Transaction Value / Value ¥1,276 100 million / Year on year against the same period last year 106.0%, Indicator name B2B business ARR / Value ¥14.1 100 million / Year on year against the same period last year Not disclosed, Indicator name Number of businesses / Value 23 Businesses / Year on year against the same period last year +2 businesses, Indicator name Number of M&A and capital and business alliances / Value 11 projects / Year on year against the same period last year +3 visits, Indicator name Number of AirTrip CVC portfolio companies / Value 155 companies / Year on year against the same period last year +10 companies, Indicator name Number of IPOs by エアトリ CVC in the current fiscal year / Value 1 projects / Year on year against the same period last year -3 deals, Indicator name Number of paid members of the AirTrip CXO Salon / Value 900 companies / Year on year against the same period last year Not disclosed, Indicator name Total number of companies transacted with / Value 4,133 companies / Year on year against the same period last year Not disclosed, Indicator name Average employee overtime hours / Value 15.9 Time / Year on year against the same period last year Not disclosed |
| Number of stores and locations | Number of beauty franchise stores 282 Store / Number of store openings and closures during the period Not disclosed |
| Number of employees | Number of Employees Not disclosed / Changes and hiring plans during the period Not disclosed / Average overtime hours 15.9 Hours (actual for the fiscal year ended September 2026) |
| Medium-term management plan targets | Operating profit ¥100 100 million (before impairment losses and other items) / IT development revenue ¥110 100 million / IT development EBITDA ¥11.8 100 million |
| Annual Dividend | FY ending September 2026 ¥160 per share / FY ending September 2027 ¥170 per share |
| Payout ratio | 100 % (relative to operating income after tax and before impairment and other charges) |
| Acquisition of treasury shares | Amount ¥24.2 100 million / Period Implemented in FY26.9 / Number of Shares Not disclosed |
| New initiatives | Reformulation of the new medium- to long-term growth strategy, “エアトリ 100”, Introduce interim dividends and pay dividends twice a year starting from the fiscal year ending September 2027, Continue M&A and capital and business alliances, Expand the beauty franchise business by making Habit Pilates a subsidiary, Plan to introduce a program supporting employees in balancing work and caregiving, Formulate a policy for addressing defamation and other harmful content |
Items this document does not state (10)
Ordinary incomeSelling, general and administrative expensesUnit price and quantity metricsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookFinancial targetsCapital 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.Although the エアトリ travel business experienced slower growth and intensifying competition, the inbound, IT development, investment and other エアトリ ecosystem businesses all performed well. Operating income after impairment and other charges declined year on year due to the recognition of ¥2.44 billion in impairment losses.
How to read this page
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