Worth reading
64In focus
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
3109
¥ million (year-on-year increase in revenue)Wording
Definitive
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ending September 2026 (FY2026)13 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales38,236 Millions of yen+8.9%
Operating profit2,991 Millions of yen+37.8%
Net income¥1,575 million +44.9%net income attributable to owners of the parent
Operating profit margin7.8 %
Results for the three months of the current quarterQuarterly revenue and operating profit trends are presented graphically, but specific figures for the quarter alone cannot be determined from the text.
Full-year earnings forecast
FY2027
Net Sales
42,000 Millions of yen
Operating profit
3,800 Millions of yen
EBITDA
4,800 Millions of yen
Net income attributable to owners of the parent
2,300 Millions of yen
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。
Net Sales100.6 %
Operating profit124.6 %
EBITDA114.8 %
Net income attributable to owners of the parent112.6 %
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue achieved the initial forecast, while operating profit significantly exceeded it.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net Sales
Increase in revenue from the Mori Juku segment2,090
Increase in revenue from the Shonan Seminar segment385
Increase in revenue from the Kawai Juku Manavis segment253
Increase in revenue from other segments381
Operating profit
Increase in SPRIX revenue2,462
SPRIX: Decrease in new business investment and R&D expenses30
Increase in SPRIX facility expenses-416
Increase in SPRIX personnel expenses-627
Increase in SPRIX advertising expenses-174
SPRIX: Increase in other expenses-513
Increase in Shonan Seminar revenue645
Increase in Shonan Seminar expenses-587
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- The forecast incorporates higher costs, including rising personnel expenses.
- The forecast incorporates costs for expanding locations, mainly for the Keio and Waseda-affiliated high school courses.
New initiatives
- Make 株式会社キュレオ a wholly owned subsidiary and consolidate the education business.
- Full-scale entry into the high school division of Mori Juku
- Expansion of locations for the Keio and Waseda-affiliated high school courses
- Hold the TOFAS Excellence Awards in Egypt
- Expand TOFAS into Egypt, Morocco, the Philippines, Vietnam, Brazil and Peru
- Tie-ups with official ambassadors and the SPRIX Exam Support Project
- Launch the weekend working-adult idol group WinkU
Key KPIsA metric the company considers important as a management benchmark.
- Mori Juku enrollment67,002 peopleYear on year against the same period last year+8.5%
- Shonan Seminar enrollment19,297 peopleYear on year against the same period last year+3.2%
- Kawai Juku Manavis enrollment5,765 peopleYear on year against the same period last year+5.0%
- Number of Mori Juku schools268 SchoolsYear on year against the same period last year+7.6%
- Number of Shonan Seminar schools203 SchoolsYear on year against the same period last year+1.5%
- Number of Kawai Juku Manavis schools52 SchoolsYear on year against the same period last year+2.0%
- Jiritsu Gakushu RED classroom count214 locations
- Number of QUREO programming classrooms3,300 Classrooms
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Student and school building numbers are provided. The text states that tuition per student at Mori Juku is expected to increase, but the specific amount is not disclosed.Segment results
Mori Juku
Net Sales
20,651 Millions of yen
Year-on-year revenue growth
11.3 %
Operating profit
5,577 Millions of yen
Year-on-year change in operating profit
18.7 %
Shonan Seminar
Net Sales
9,680 Millions of yen
Year-on-year revenue growth
4.1 %
Operating profit
718 Millions of yen
Year-on-year change in operating profit
-2.9 %
Kawai Juku Manavis
Net Sales
3,608 Millions of yen
Year-on-year revenue growth
7.6 %
Operating profit
488 Millions of yen
Year-on-year change in operating profit
22.4 %
Other
Net Sales
4,295 Millions of yen
Year-on-year revenue growth
10.1 %
Operating profit
-880 Millions of yen
Year-on-year change in operating profitOperating loss decreased by ¥327 million.
Financial targets
Equity ratio
FY2026 actual46 %
Market Size / Share
The text states that the company aims to achieve the No. 1 market share in the industry for one-on-one instruction, and that it has the highest number of domestic examinees for the Programming Skills Certification Test. Market size and market share are not disclosed.Number of stores and locations
Mori Juku
End of period268 Schools
Schools opened during the period20 Schools
Shonan Seminar
End of period203 Schools
Additions during the period3 Schools
Kawai Juku Manavis
End of period52 Schools
Schools opened during the period1 Schools
Jiritsu Gakushu RED (self-directed learning program)
End of period214 locations
Number of employees
1,632 People as of the end of September 2026
Annual Dividend
FY2026
Annual¥38 per share
Interim¥19 per share
End of period¥19 per share
Planned for FY2027
Annual¥44 per share
Interim¥22 per share
End of period¥22 per share
Payout ratio
Stable dividends targeted at 15%–20% of consolidated EBITDA| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ending September 2026 (FY2026) |
| Net Sales | 38,236 Millions of yen (YoY +8.9%) |
| Operating profit | 2,991 Millions of yen (YoY +37.8%) |
| Net income | ¥1,575 million (net income attributable to owners of the parent) (YoY +44.9%) |
| Operating profit margin | 7.8 % |
| Results for the three months of the current quarter | Quarterly revenue and operating profit trends are presented graphically, but specific figures for the quarter alone cannot be determined from the text. |
| Full-year earnings forecast | FY2027 Net Sales 42,000 Millions of yen / Operating profit 3,800 Millions of yen / EBITDA 4,800 Millions of yen / Net income attributable to owners of the parent 2,300 Millions of yen |
| Progress against full-year forecast | Net Sales 100.6 % / Operating profit 124.6 % / EBITDA 114.8 % / Net income attributable to owners of the parent 112.6 % |
| Self-assessment against the plan | Revenue achieved the initial forecast, while operating profit significantly exceeded it. |
| Segment results | Mori Juku Net Sales 20,651 Millions of yen / Year-on-year revenue growth 11.3 % / Operating profit 5,577 Millions of yen / Year-on-year change in operating profit 18.7 % / Shonan Seminar Net Sales 9,680 Millions of yen / Year-on-year revenue growth 4.1 % / Operating profit 718 Millions of yen / Year-on-year change in operating profit -2.9 % / Kawai Juku Manavis Net Sales 3,608 Millions of yen / Year-on-year revenue growth 7.6 % / Operating profit 488 Millions of yen / Year-on-year change in operating profit 22.4 % / Other Net Sales 4,295 Millions of yen / Year-on-year revenue growth 10.1 % / Operating profit -880 Millions of yen / Year-on-year change in operating profit Operating loss decreased by ¥327 million. |
| Breakdown of Factors Affecting the Change | Net Sales Increase in revenue from the Mori Juku segment 2,090 / Increase in revenue from the Shonan Seminar segment 385 / Increase in revenue from the Kawai Juku Manavis segment 253 / Increase in revenue from other segments 381 / Operating profit Increase in SPRIX revenue 2,462 / SPRIX: Decrease in new business investment and R&D expenses 30 / Increase in SPRIX facility expenses -416 / Increase in SPRIX personnel expenses -627 / Increase in SPRIX advertising expenses -174 / SPRIX: Increase in other expenses -513 / Increase in Shonan Seminar revenue 645 / Increase in Shonan Seminar expenses -587 |
| Key KPIs | Mori Juku enrollment 67,002 people, Shonan Seminar enrollment 19,297 people, Kawai Juku Manavis enrollment 5,765 people, Number of Mori Juku schools 268 Schools, Number of Shonan Seminar schools 203 Schools, Number of Kawai Juku Manavis schools 52 Schools, Jiritsu Gakushu RED classroom count 214 locations, Number of QUREO programming classrooms 3,300 Classrooms |
| Unit price and quantity metrics | Student and school building numbers are provided. The text states that tuition per student at Mori Juku is expected to increase, but the specific amount is not disclosed. |
| Number of stores and locations | Mori Juku End of period 268 Schools / Schools opened during the period 20 Schools / Shonan Seminar End of period 203 Schools / Additions during the period 3 Schools / Kawai Juku Manavis End of period 52 Schools / Schools opened during the period 1 Schools / Jiritsu Gakushu RED (self-directed learning program) End of period 214 locations |
| Number of employees | 1,632 People (as of the end of September 2026) |
| Assumptions Underlying the Business Outlook | The forecast incorporates higher costs, including rising personnel expenses., The forecast incorporates costs for expanding locations, mainly for the Keio and Waseda-affiliated high school courses. |
| Financial targets | Equity ratio FY2026 actual 46 % / Target Not disclosed |
| Annual Dividend | FY2026 Annual ¥38 per share / Interim ¥19 per share / End of period ¥19 per share / Planned for FY2027 Annual ¥44 per share / Interim ¥22 per share / End of period ¥22 per share |
| Payout ratio | Stable dividends targeted at 15%–20% of consolidated EBITDA |
| Market Size / Share | The text states that the company aims to achieve the No. 1 market share in the industry for one-on-one instruction, and that it has the highest number of domestic examinees for the Programming Skills Certification Test. Market size and market share are not disclosed. |
| New initiatives | Make 株式会社キュレオ a wholly owned subsidiary and consolidate the education business., Full-scale entry into the high school division of Mori Juku, Expansion of locations for the Keio and Waseda-affiliated high school courses, Hold the TOFAS Excellence Awards in Egypt, Expand TOFAS into Egypt, Morocco, the Philippines, Vietnam, Brazil and Peru, Tie-ups with official ambassadors and the SPRIX Exam Support Project, Launch the weekend working-adult idol group WinkU |
Items this document does not state (9)
Ordinary incomeGross Profit MarginSelling, general and administrative expensesRisk amount incorporated into the outlookMedium-term management plan targetsAcquisition 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.The reasons cited were increased student numbers at Mori Juku, Shonan Seminar and Kawaijuku Manavis; growth in new businesses and the overseas TOFAS business; absorption of upfront costs through higher revenue; improved profit margins in new businesses; and a review and reduction of textbook printing-related costs.
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.