Worth reading
41Recurring
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
2.8
¥100 million (valuation loss on investment assets)Wording
Conditional
How definitive the wording is.Contents of this document
Financial Results PresentationSecond quarter of the fiscal year ending December 20266 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥19.6 million
Operating profit¥0.2 million
Ordinary income¥1.1 million
Net income¥1.1 100 million net income attributable to owners of the parent
Full-year earnings forecast
Operating revenue
¥50 million
Gross operating profit
¥49 million
Operating profit
¥15 million
Ordinary income
¥15 million
Profit attributable to owners of the parent
¥10 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。
Operating revenue39%
Gross operating profit34%
Operating profit1%
Ordinary income7%
Profit attributable to owners of the parent11%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Management fees were broadly in line with plan. Overall assessment against the plan: Not disclosedBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Valuation losses on assets held-¥280 million
New initiatives
- Launch of the Aircraft No. 3 open-ended fund and acquisition of 2 aircraft
- Launch of fundraising for Buyout Fund III (target: ¥50 billion)
- Launch of the 100-Year Goodwill Project with Takashimaya
- Advancement of the Kyushu Industrial Resilience Project
- Promoting strategic businesses in the AI field
- Cooperation with SMTB on a domestic diversified infrastructure fund business
- Expansion of consulting and ASEAN M&A businesses in Thailand and Vietnam
Key KPIsA metric the company considers important as a management benchmark.
- Assets under management¥3,449 million
- Buyout Fund I net IRROver 15%
- Buyout Fund I net investment multipleMore than 2x
- Buyout Fund I DPI1.66 times
- Percentage of foreign employees41 %
Market Size / Share
As an indication of the aircraft investment market, annual JOLCO origination for Japanese investors is approximately ¥400 billion to ¥500 billion. Market share: Not disclosedNumber of employees
Number of Employees116 people consolidated, as of the end of June 2026
Changes during the period and hiring planContinuing to actively recruit professional personnel
| Item | Details |
|---|---|
| Document type | Financial Results Presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending December 2026 |
| Net Sales | ¥19.6 million |
| Operating profit | ¥0.2 million |
| Ordinary income | ¥1.1 million |
| Net income | ¥1.1 100 million (net income attributable to owners of the parent) |
| Full-year earnings forecast | Operating revenue ¥50 million / Gross operating profit ¥49 million / Operating profit ¥15 million / Ordinary income ¥15 million / Profit attributable to owners of the parent ¥10 million |
| Progress against full-year forecast | Operating revenue 39% / Gross operating profit 34% / Operating profit 1% / Ordinary income 7% / Profit attributable to owners of the parent 11% |
| Self-assessment against the plan | Management fees were broadly in line with plan. Overall assessment against the plan: Not disclosed |
| Breakdown of Factors Affecting the Change | Factors Valuation losses on assets held / Amount -¥280 million |
| Key KPIs | Indicator Assets under management / Value ¥3,449 million / Year on year against the same period last year Not disclosed, Indicator Buyout Fund I net IRR / Value Over 15% / Year on year against the same period last year Not disclosed, Indicator Buyout Fund I net investment multiple / Value More than 2x / Year on year against the same period last year Not disclosed, Indicator Buyout Fund I DPI / Value 1.66 times / Year on year against the same period last year Not disclosed, Indicator Percentage of foreign employees / Value 41 % / Year on year against the same period last year Not disclosed |
| Number of employees | Number of Employees 116 people (consolidated, as of the end of June 2026) / Changes during the period and hiring plan Continuing to actively recruit professional personnel |
| Market Size / Share | As an indication of the aircraft investment market, annual JOLCO origination for Japanese investors is approximately ¥400 billion to ¥500 billion. Market share: Not disclosed |
| New initiatives | Launch of the Aircraft No. 3 open-ended fund and acquisition of 2 aircraft, Launch of fundraising for Buyout Fund III (target: ¥50 billion), Launch of the 100-Year Goodwill Project with Takashimaya, Advancement of the Kyushu Industrial Resilience Project, Promoting strategic businesses in the AI field, Cooperation with SMTB on a domestic diversified infrastructure fund business, Expansion of consulting and ASEAN M&A businesses in Thailand and Vietnam |
Items this document does not state (17)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterSegment resultsUnit price and quantity metricsNumber of stores and locationsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioAcquisition 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.Management fees were broadly in line with plan, but the company recorded a ¥280 million valuation loss on investment assets. The company attributed the valuation loss to a decline in market prices at Spring REIT due to falling rents and rising interest rates, which caused a gap between the appraised value of the properties held and their market prices. In addition, although performance fees were recognized in the previous fiscal year from Buyout Fund I, the next major exit is expected to take place from the following fiscal year onward, and the 2026 budget therefore reflects a decline from the prior year due to the resulting difficult comparison.
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.