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How definitive the wording is.Contents of this document
Earnings briefing transcriptSecond quarter of the fiscal year ending October 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥31.71 hundred million
Operating profit¥6.4 hundred million
Net income¥1.83 hundred million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Prored standalone: in line with expectations; ナレッジ: behind scheduleKey points of the Q&AKey questions raised by investors at the briefing and the company's answers
- Questions Is the consulting business expected to remain profitable in the second half, following the first half? / Answer The company plans to hire aggressively in the second half. Although this will depend on hiring conditions, it does not intend to pursue profit deliberately.
- Questions What changed in the hiring criteria, and was hiring restricted? / Answer Hiring was not restricted; the hiring criteria for digital consultants were revised. Hiring has gradually begun to pick up from the second half.
- Questions What is the outlook for revenue and operating profit from next year onward? / Answer The company is targeting growth at least in line with, or above, the current fiscal year and does not anticipate flat performance.
- Questions What is the outlook for ブルパス exits in the second half? / Answer There are 7–8 portfolio companies, and one or two exits may occur each year, but the timing depends on the other parties involved.
- Questions What are the plans for the new fund? / Answer The company is proceeding with the formation of Fund II as planned and expects to provide some form of update within the current fiscal year.
- Questions Measures to Maintain the Listing / Answer The company plans to grow the consulting business and pursue new investments, with some form of announcement planned within the current fiscal year.
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Sale of MURA株式会社 and 岩野物産株式会社 in the same period last yearDirectionLifted revenue and operating profit in the same period last year
- Lower recruitment costs and personnel expenses due to delayed hiringDirectionDriving operating profit higher
- Dividends received from ブルパス investment portfolio companiesDirectionRecognized in revenue and operating profit
The company identifies the factors but does not state the amount attributable to each one.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Hiring is expected to be weighted toward the second half. ブルパス may generate one or two exits per year, but management explained that the timing depends on the other parties involved.New initiatives
- Revision of hiring criteria for digital consultants
- Aggressive hiring in the second half
- Formation of Fund II
- Consideration of new investments
- Capturing inquiries through Pro-Sign ahead of the adoption of the new lease accounting standard
Key KPIsA metric the company considers important as a management benchmark.
- Fixed-fee consulting revenueApproximately 1.5xYear on year against the same period last yearApproximately 1.5x
- Success-fee consulting revenue¥5.4 hundred millionYear on year against the same period last yearApproximately unchanged year on year
- Number of fixed-fee consultantsApproximately 5–6 times
Segment results
- Prored standalone: consulting businessNet Sales¥2.228 billionOperating profit¥105 millionYear on year against the same period last yearRevenue up 28.4% year on year
- KnowledgeNet SalesDown 20% year on yearYear on year against the same period last yearRevenue down 20% year on year
- ブルパスNet SalesRevenue recognized from dividends received
Medium-term management plan targets
Proceed with the formation of Fund II as planned during the current fiscal year and provide some form of update within the fiscal year. Other numerical targets: Not disclosedNumber of employees
Number of EmployeesThe number of consultants has increased quarter by quarter
Change during the periodSince Q2 FY2023, hiring of fixed-fee consultants has increased approximately 5–6 times
Hiring planAggressive hiring in the second half
Acquisition of treasury shares
Share repurchases were mentioned, but the repurchase limit, number of shares, and period were not disclosed| Item | Details |
|---|---|
| Document type | Earnings briefing transcript |
| Fiscal Period Covered | Second quarter of the fiscal year ending October 2026 |
| Net Sales | ¥31.71 hundred million |
| Operating profit | ¥6.4 hundred million |
| Net income | ¥1.83 hundred million |
| Self-assessment against the plan | Prored standalone: in line with expectations; ナレッジ: behind schedule |
| Segment results | Segment Prored standalone: consulting business / Net Sales ¥2.228 billion / Operating profit ¥105 million / Year on year against the same period last year Revenue up 28.4% year on year, Segment Knowledge / Net Sales Down 20% year on year / Operating profit Not disclosed / Year on year against the same period last year Revenue down 20% year on year, Segment ブルパス / Net Sales Revenue recognized from dividends received / Operating profit Not disclosed / Year on year against the same period last year Not disclosed |
| Breakdown of Factors Affecting the Change | Factors Sale of MURA株式会社 and 岩野物産株式会社 in the same period last year / Amount Not disclosed / Direction Lifted revenue and operating profit in the same period last year, Factors Lower recruitment costs and personnel expenses due to delayed hiring / Amount Not disclosed / Direction Driving operating profit higher, Factors Dividends received from ブルパス investment portfolio companies / Amount Not disclosed / Direction Recognized in revenue and operating profit |
| Key KPIs | Indicator name Fixed-fee consulting revenue / Value Approximately 1.5x / Year on year against the same period last year Approximately 1.5x, Indicator name Success-fee consulting revenue / Value ¥5.4 hundred million / Year on year against the same period last year Approximately unchanged year on year, Indicator name Number of fixed-fee consultants / Value Approximately 5–6 times / Year on year against the same period last year Not disclosed |
| Number of employees | Number of Employees The number of consultants has increased quarter by quarter / Change during the period Since Q2 FY2023, hiring of fixed-fee consultants has increased approximately 5–6 times / Hiring plan Aggressive hiring in the second half |
| Assumptions Underlying the Business Outlook | Hiring is expected to be weighted toward the second half. ブルパス may generate one or two exits per year, but management explained that the timing depends on the other parties involved. |
| Medium-term management plan targets | Proceed with the formation of Fund II as planned during the current fiscal year and provide some form of update within the fiscal year. Other numerical targets: Not disclosed |
| Acquisition of treasury shares | Share repurchases were mentioned, but the repurchase limit, number of shares, and period were not disclosed |
| Key points of the Q&A | Questions Is the consulting business expected to remain profitable in the second half, following the first half? / Answer The company plans to hire aggressively in the second half. Although this will depend on hiring conditions, it does not intend to pursue profit deliberately., Questions What changed in the hiring criteria, and was hiring restricted? / Answer Hiring was not restricted; the hiring criteria for digital consultants were revised. Hiring has gradually begun to pick up from the second half., Questions What is the outlook for revenue and operating profit from next year onward? / Answer The company is targeting growth at least in line with, or above, the current fiscal year and does not anticipate flat performance., Questions What is the outlook for ブルパス exits in the second half? / Answer There are 7–8 portfolio companies, and one or two exits may occur each year, but the timing depends on the other parties involved., Questions What are the plans for the new fund? / Answer The company is proceeding with the formation of Fund II as planned and expects to provide some form of update within the current fiscal year., Questions Measures to Maintain the Listing / Answer The company plans to grow the consulting business and pursue new investments, with some form of announcement planned within the current fiscal year. |
| New initiatives | Revision of hiring criteria for digital consultants, Aggressive hiring in the second half, Formation of Fund II, Consideration of new investments, Capturing inquiries through Pro-Sign ahead of the adoption of the new lease accounting standard |
Items this document does not state (16)
Ordinary incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterFull-year earnings forecastProgress against full-year forecastUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout ratioCapital expendituresOrders received and order backlogMarket Size / Share
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 decline in consolidated results was due to the year-on-year impact of the sale of MURA株式会社 and 岩野物産株式会社 in the same period last year, when the sale proceeds and gains were recognized. On a standalone basis, Prored recorded operating profit as recruitment costs and personnel expenses were held down by delays in hiring following a change in hiring criteria. ナレッジ struggled to win public-sector and private-sector projects, while ブルパス received dividends from its investments despite having no exits.
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