Worth reading
66In 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
5.1
% (year-on-year change in gross profit)Wording
Avoiding a definitive answer
How definitive the wording is.Contents of this document
Earnings presentationFirst quarter of the fiscal year ending March 202711 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥872 hundred million+5.9%
Operating profit¥47 hundred million-3.6%
Ordinary income¥47 hundred million-5.7%
Net income¥33 hundred million-5.3%
Selling, general and administrative expenses¥80 hundred million
Results for the three months of the current quarter
Net profit
¥155 hundred million
Gross profit
¥127 hundred million
Selling, general and administrative expenses
¥80 hundred million
Operating profit
¥47 hundred million
Ordinary income
¥47 hundred million
Quarterly net income
¥33 hundred million
Full-year earnings forecast
Net Sales
¥3,700 hundred million
Gross profit
¥504 hundred million
Selling, general and administrative expenses
¥328 hundred million
Provision for allowance for doubtful accounts
¥20 hundred million
Operating profit
¥176 hundred million
Ordinary income
¥174 hundred million
Net income for the current fiscal year
¥119 hundred million
Balance of operating assets
¥13,430 hundred million
Dividend per share
¥256
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 profit24.1%
Funding costs19.6%
Gross profit25.4%
Selling, general and administrative expenses24.5%
Provision for allowance for doubtful accounts22.1%
Operating profit27.0%
Ordinary income27.5%
Quarterly net income27.7%
Value added + growth investments25.5%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progress is ahead of plan, marking a strong startBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Vendor and Customer Solutions Business¥14.6 hundred million
- BPO and Services Business¥1.1 hundred million
- Environmental and Real Estate Business¥2.5 hundred million
- Funding costs¥-12.2 hundred million
- Credit costs¥-2 hundred million
- General expenses¥-1.7 hundred million
- Employee and executive compensation¥-5.8 hundred million
- Growth investment¥-1.7 hundred million
- Non-Recurring Expenses¥-0.3 hundred million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- 2 timesAssumptionsNumber of policy rate hikes in the fiscal year ending March 2027
New initiatives
- Investment in the cost of obtaining advanced professional and AI-related qualifications
- IT investment expenses
- Branding investments
- Integration of Techno Rent and change of company name
Key KPIsA metric the company considers important as a management benchmark.
- Balance of operating assets¥12,947 hundred millionYear on year against the same period last year4.7%
- Loss ratio0.09 %Year on year against the same period last yearDown
- Total funding¥11,438 hundred millionYear on year against the same period last yearIncreased
- Funding cost ratio0.87 %Year on year against the same period last yearHigher
- Earnings per share¥107.08Year on year against the same period last year-6.0%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Lease, installment and loan originations (Vendor and Customer Solutions)¥723 hundred millionYear on year against the same period last year4.9%
- Rental contracts signed¥41 hundred millionYear on year against the same period last year-17.5%
- Number of collection agency transactions1,230 ten thousand itemsYear on year against the same period last year30.1%
- Healthcare factoring volume¥276 hundred millionYear on year against the same period last year13.2%
Segment results
- Leasing and Finance BusinessNet Sales¥812 hundred million (YoY +5.3%)Segment profit¥48 hundred million (YoY -1.2%)
- Services BusinessNet Sales¥28 hundred million (YoY +14.4%)Segment profit¥2 hundred million (YoY -1.0%)
- InvestmentNet Sales¥32 hundred million (YoY +14.6%)Segment profit¥4 hundred million (YoY -12.6%)
Capital expenditures
¥5 100 million growth investments
Annual Dividend
Annual dividend per share¥256
Regular dividend¥186
Special dividend¥70
Payout ratio
66.3%Gross profit
¥127 hundred million+5.1%
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥872 hundred million (YoY +5.9%) |
| Operating profit | ¥47 hundred million (YoY -3.6%) |
| Ordinary income | ¥47 hundred million (YoY -5.7%) |
| Net income | ¥33 hundred million (YoY -5.3%) |
| Gross profit | ¥127 hundred million (YoY +5.1%) |
| Selling, general and administrative expenses | ¥80 hundred million |
| Results for the three months of the current quarter | Net profit ¥155 hundred million / Gross profit ¥127 hundred million / Selling, general and administrative expenses ¥80 hundred million / Operating profit ¥47 hundred million / Ordinary income ¥47 hundred million / Quarterly net income ¥33 hundred million |
| Full-year earnings forecast | Net Sales ¥3,700 hundred million / Gross profit ¥504 hundred million / Selling, general and administrative expenses ¥328 hundred million / Provision for allowance for doubtful accounts ¥20 hundred million / Operating profit ¥176 hundred million / Ordinary income ¥174 hundred million / Net income for the current fiscal year ¥119 hundred million / Balance of operating assets ¥13,430 hundred million / Dividend per share ¥256 |
| Progress against full-year forecast | Net profit 24.1% / Funding costs 19.6% / Gross profit 25.4% / Selling, general and administrative expenses 24.5% / Provision for allowance for doubtful accounts 22.1% / Operating profit 27.0% / Ordinary income 27.5% / Quarterly net income 27.7% / Value added + growth investments 25.5% |
| Self-assessment against the plan | Progress is ahead of plan, marking a strong start |
| Segment results | Segment Leasing and Finance Business / Net Sales ¥812 hundred million (YoY +5.3%) / Segment profit ¥48 hundred million (YoY -1.2%), Segment Services Business / Net Sales ¥28 hundred million (YoY +14.4%) / Segment profit ¥2 hundred million (YoY -1.0%), Segment Investment / Net Sales ¥32 hundred million (YoY +14.6%) / Segment profit ¥4 hundred million (YoY -12.6%) |
| Breakdown of Factors Affecting the Change | Factors Vendor and Customer Solutions Business / Amount ¥14.6 hundred million, Factors BPO and Services Business / Amount ¥1.1 hundred million, Factors Environmental and Real Estate Business / Amount ¥2.5 hundred million, Factors Funding costs / Amount ¥-12.2 hundred million, Factors Credit costs / Amount ¥-2 hundred million, Factors General expenses / Amount ¥-1.7 hundred million, Factors Employee and executive compensation / Amount ¥-5.8 hundred million, Factors Growth investment / Amount ¥-1.7 hundred million, Factors Non-Recurring Expenses / Amount ¥-0.3 hundred million |
| Key KPIs | Indicator name Balance of operating assets / Value ¥12,947 hundred million / Year on year against the same period last year 4.7%, Indicator name Loss ratio / Value 0.09 % / Year on year against the same period last year Down, Indicator name Total funding / Value ¥11,438 hundred million / Year on year against the same period last year Increased, Indicator name Funding cost ratio / Value 0.87 % / Year on year against the same period last year Higher, Indicator name Earnings per share / Value ¥107.08 / Year on year against the same period last year ¥-6.02 |
| Unit price and quantity metrics | Indicator name Lease, installment and loan originations (Vendor and Customer Solutions) / Value ¥723 hundred million / Year on year against the same period last year 4.9%, Indicator name Rental contracts signed / Value ¥41 hundred million / Year on year against the same period last year -17.5%, Indicator name Number of collection agency transactions / Value 1,230 ten thousand items / Year on year against the same period last year 30.1%, Indicator name Healthcare factoring volume / Value ¥276 hundred million / Year on year against the same period last year 13.2% |
| Assumptions Underlying the Business Outlook | Assumptions Number of policy rate hikes in the fiscal year ending March 2027 / Value 2 times |
| Annual Dividend | Annual dividend per share ¥256 / Interim Dividend Not disclosed / Year-end dividend Not disclosed / Regular dividend ¥186 / Special dividend ¥70 |
| Payout ratio | 66.3% |
| Capital expenditures | ¥5 100 million (growth investments) |
| New initiatives | Investment in the cost of obtaining advanced professional and AI-related qualifications, IT investment expenses, Branding investments, Integration of Techno Rent and change of company name |
Items this document does not state (11)
Gross Profit MarginOperating profit marginNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAcquisition of treasury sharesOrders 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.Net revenue increased due to growth in operating assets and improved asset yields, while employee and executive compensation, growth investments, general expenses, credit costs and funding costs also increased.
How to read this page
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