Worth reading
83Important
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
1015
¥ million (increase in operating profit versus the standalone results for the same period of the previous fiscal year)Wording
Conditional
How definitive the wording is.Contents of this document
Financial Results PresentationQ3 FY202615 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales16,003 Millions of yen
Operating profit5,125 Millions of yen
Ordinary income5,110 Millions of yen
Net income3,406 Millions of yen
Operating profit margin32 %+3.5%
Selling, general and administrative expenses4,325 Millions of yen
Gross Profit Marginnot disclosed (cost of sales ratio: 40.9%)
Results for the three months of the current quarterThe charts show revenue of ¥6,266 million, 79 completed engagements, and 152 completed transactions for the three months of the quarter. Standalone operating profit for the three months was not disclosed.
Full-year earnings forecast
Net Sales
22,523 Millions of yen
Cost of sales
9,259 Millions of yen
Gross profit
13,263 Millions of yen
Selling, general and administrative expenses
5,946 Millions of yen
Operating profit
7,316 Millions of yen
Ordinary income
7,343 Millions of yen
Profit before income taxes for the period
7,343 Millions of yen
Net income for the current fiscal year
5,025 Millions of yen
Completed M&A brokerage engagements
306 transactions
New engagements
1,270 Engagements
Headcount
509 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 revenue71.1
Consolidated operating profit70
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue and operating profit are both progressing broadly in line with the full-year planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Advertising and marketing expensesThe SG&A ratio decreased following optimization
Mid-career recruitment costsThe SG&A ratio decreased following optimization
Deals closed+20 engagements year on year
Large-Scale DealsIncreased by 6 engagements, from 33 to 39
Project PricingIncreased from ¥75.2 million to ¥75.4 million
Number of basic agreements+87 engagements year on year
New engagements+98 engagements year on year
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Consolidated revenue for the fiscal year ending September 202622,523 Millions of yen
- Consolidated operating profit for the fiscal year ending September 20267,316 Millions of yen
- Target average annual revenue growth rate through the fiscal year ending September 202810～20
New initiatives
- Business alliance with the Hokuriku Federation of Tax Accountants’ Cooperative Associations
- Renewal of the M&A platform “SMART”
- Expansion of business areas and acceleration of M&A through the transition to a holding company structure
- Expansion of the financial advisory business and M&A strategy consulting business
Key KPIsA metric the company considers important as a management benchmark.
- Number of consultants397 peopleYear on year against the same period last year+20 people
- New engagements927 EngagementsYear on year against the same period last year+98 engagements
- Number of basic agreements332 transactionsYear on year against the same period last year+87 engagements
- Deals closed152 transactionsYear on year against the same period last year+20 engagements
- Large-Scale Deals39 transactionsYear on year against the same period last year+6 engagements
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Project Pricing75.4 Millions of yenYear on year against the same period last yearUp from ¥75.2 million
- Fee per contracted engagement80 Millions of yenYear on year against the same period last year¥77 million in the previous fiscal year
Medium-term management plan targets
Average annual revenue growth rate10～20%
Revenue for the fiscal year ending September 202830,003 Millions of yen
Operating profit for the fiscal year ending September 202810,089 Millions of yen
Unit_Operating profitMillions of yen
Financial targets
ROE target25% or higher
Actual ROE
Fiscal year ended September 202430.1
Fiscal year ended September 202523.6
Market Size / Share
- Number of M&A transactions by listed companies from January to June 2026733 EngagementsYear on year against the same period last year+11%
- Number of registered M&A support providers3,399 Engagements
- Number of members of the M&A Support Institutions Association261 companies
Number of stores and locations
9 locations nationwide. The number of store openings and closures during the period was not disclosed.Number of employees
Number of Employees486 people
Change during the periodThe number of consultants increased by 20 against the full-year hiring plan of +55
Hiring planThe full-year figure is expected to fall slightly short of the plan
Capital expenditures
¥54 100 million growth investment allocation
Annual Dividend
Annual dividend per share¥65
Payout ratio
Fiscal year ending September 2026 forecast54.2 %
Acquisition of treasury shares
Share repurchases were mentioned as a future issue. The repurchase limit, number of shares, and period were not disclosed.| Item | Details |
|---|---|
| Document type | Financial Results Presentation |
| Fiscal Period Covered | Q3 FY2026 |
| Net Sales | 16,003 Millions of yen |
| Operating profit | 5,125 Millions of yen |
| Ordinary income | 5,110 Millions of yen |
| Net income | 3,406 Millions of yen |
| Gross Profit Margin | not disclosed (cost of sales ratio: 40.9%) |
| Operating profit margin | 32 % (YoY +3.5%) |
| Selling, general and administrative expenses | 4,325 Millions of yen |
| Results for the three months of the current quarter | The charts show revenue of ¥6,266 million, 79 completed engagements, and 152 completed transactions for the three months of the quarter. Standalone operating profit for the three months was not disclosed. |
| Full-year earnings forecast | Net Sales 22,523 Millions of yen / Cost of sales 9,259 Millions of yen / Gross profit 13,263 Millions of yen / Selling, general and administrative expenses 5,946 Millions of yen / Operating profit 7,316 Millions of yen / Ordinary income 7,343 Millions of yen / Profit before income taxes for the period 7,343 Millions of yen / Net income for the current fiscal year 5,025 Millions of yen / Completed M&A brokerage engagements 306 transactions / New engagements 1,270 Engagements / Headcount 509 people |
| Progress against full-year forecast | Consolidated revenue 71.1 / Consolidated operating profit 70 |
| Self-assessment against the plan | Revenue and operating profit are both progressing broadly in line with the full-year plan |
| Breakdown of Factors Affecting the Change | Advertising and marketing expenses The SG&A ratio decreased following optimization / Mid-career recruitment costs The SG&A ratio decreased following optimization / Deals closed +20 engagements year on year / Large-Scale Deals Increased by 6 engagements, from 33 to 39 / Project Pricing Increased from ¥75.2 million to ¥75.4 million / Number of basic agreements +87 engagements year on year / New engagements +98 engagements year on year |
| Key KPIs | Indicator name Number of consultants / Value 397 people / Year on year against the same period last year +20 people, Indicator name New engagements / Value 927 Engagements / Year on year against the same period last year +98 engagements, Indicator name Number of basic agreements / Value 332 transactions / Year on year against the same period last year +87 engagements, Indicator name Deals closed / Value 152 transactions / Year on year against the same period last year +20 engagements, Indicator name Large-Scale Deals / Value 39 transactions / Year on year against the same period last year +6 engagements |
| Unit price and quantity metrics | Indicator name Project Pricing / Value 75.4 Millions of yen / Year on year against the same period last year Up from ¥75.2 million, Indicator name Fee per contracted engagement / Value 80 Millions of yen / Year on year against the same period last year ¥77 million in the previous fiscal year |
| Number of stores and locations | 9 locations nationwide. The number of store openings and closures during the period was not disclosed. |
| Number of employees | Number of Employees 486 people / Change during the period The number of consultants increased by 20 against the full-year hiring plan of +55 / Hiring plan The full-year figure is expected to fall slightly short of the plan |
| Assumptions Underlying the Business Outlook | Item Consolidated revenue for the fiscal year ending September 2026 / Value 22,523 Millions of yen, Item Consolidated operating profit for the fiscal year ending September 2026 / Value 7,316 Millions of yen, Item Target average annual revenue growth rate through the fiscal year ending September 2028 / Value 10～20 |
| Medium-term management plan targets | Average annual revenue growth rate 10～20% / Revenue for the fiscal year ending September 2028 30,003 Millions of yen / Operating profit for the fiscal year ending September 2028 10,089 Millions of yen / Unit_Operating profit Millions of yen |
| Financial targets | ROE target 25% or higher / Actual ROE Fiscal year ended September 2024 30.1 / Fiscal year ended September 2025 23.6 |
| Annual Dividend | Annual dividend per share ¥65 / Interim Not disclosed / End of period Not disclosed |
| Payout ratio | Fiscal year ending September 2026 forecast 54.2 % |
| Acquisition of treasury shares | Share repurchases were mentioned as a future issue. The repurchase limit, number of shares, and period were not disclosed. |
| Capital expenditures | ¥54 100 million (growth investment allocation) |
| Market Size / Share | Indicator name Number of M&A transactions by listed companies from January to June 2026 / Value 733 Engagements / Year on year against the same period last year +11%, Indicator name Number of registered M&A support providers / Value 3,399 Engagements, Indicator name Number of members of the M&A Support Institutions Association / Value 261 companies |
| New initiatives | Business alliance with the Hokuriku Federation of Tax Accountants’ Cooperative Associations, Renewal of the M&A platform “SMART”, Expansion of business areas and acceleration of M&A through the transition to a holding company structure, Expansion of the financial advisory business and M&A strategy consulting business |
Items this document does not state (4)
Segment resultsRisk amount incorporated into the outlookOrders 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.The stated factors were a lower SG&A ratio resulting from optimization of advertising and marketing expenses and mid-career recruitment costs, an increase in the number of completed engagements, an increase in large-scale engagements, and higher engagement fees.
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