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Financial Results Presentation8739SPARX Group Co.,Ltd.Financials (excluding banks)

Presentation on Financial Results for the Second Quarter of the Fiscal Year Ending March 2027

For the six months ended September 2026, operating revenue, operating profit and net income exceeded the year-earlier period, driven by an increase in AUM and growth in asset-based and performance fees. In addition to the ¥55 interim dividend, the company decided to repurchase up to ¥500 million of its own shares and cancel the shares acquired.

Worth reading
66In focus
Scored from 4 of 6 sections
Direction
Improvement
Direction inferred from the company’s description.
Scale
58.4
Year-on-year change in operating profit (%)
Wording
Definitive
How definitive the wording is.

Contents of this document

Financial Results PresentationSecond quarter of the fiscal year ending March 20277 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥11,811 million+36.7%
Operating profit¥5,827 million+58.4%
Ordinary income¥5,787 million+58.5%
Net income¥4,958 million+72.2%
Results for the three months of the current quarter
Operating revenue
¥6,205 million
Balance-based compensation
¥5,098 million
Carried Interest
¥1,000 million
Full-year earnings forecast
Annual Dividend
¥110 /share
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Increase in asset-based fees¥2,034 million
  • Increase in performance fees¥1,067 million
  • Increase in operating expenses and selling, general and administrative expenses¥1,021 million
New initiatives
  • Participation by 3 new LP investors in the SPARX Sapporo/Hokkaido GX Fund
  • Award of a Ministry of the Environment project to develop and demonstrate hydrogen supply chain models derived from renewable energy and other sources
  • Execution of an agreement with Tomakomai City on promoting the adoption of low-carbon hydrogen
  • Start of AUM recognition for Mirai Creation Fund IV
  • Share repurchase of up to ¥500 million and cancellation of all shares acquired
  • Start of luxury villa sales in the Niseko area
Key KPIsA metric the company considers important as a management benchmark.
  • AUM (period-end)¥26,429 hundred million
    Year-on-year (%)25.1
  • Average AUM¥25,390 hundred million
    Year-on-year (%)27.2
  • Core earnings¥4,723 million
    Year-on-year (%)39.2
  • Management fee rate (after deduction of commissions)0.65 %
    Year-on-year change (percentage points)-0
  • Balance-based fees (net of fee deductions)¥8,112 million
    Year-on-year (%)26.9
  • Carried Interest¥1,803 million
    Year-on-year (%)144.9
  • ROE (annualized)24.4 %
    Year-on-year change (percentage points)7.5
Market Size / Share
Ranking by venture capital funds raised in JapanSPARX Group ranked third, 1,772 USD MN
Number of employees
189 people
Record dateEnd-September 2026
Annual Dividend
Full-year forecast
¥110 /share
Interim
¥55 /share
End of period
¥55 /share
Acquisition of treasury shares
Maximum amount500,000,000 Yen
Maximum number of shares185,000 Yen
Period2 November 2026 to 30 December 2026
CancellationAll shares acquired are scheduled to be cancelled on 31 December 2026
Contents of this document
ItemDetails
Document typeFinancial Results Presentation
Fiscal Period CoveredSecond quarter of the fiscal year ending March 2027
Net Sales¥11,811 million (YoY +36.7%)
Operating profit¥5,827 million (YoY +58.4%)
Ordinary income¥5,787 million (YoY +58.5%)
Net income¥4,958 million (YoY +72.2%)
Results for the three months of the current quarterOperating revenue ¥6,205 million / Balance-based compensation ¥5,098 million / Carried Interest ¥1,000 million
Full-year earnings forecastAnnual Dividend ¥110 /share
Breakdown of Factors Affecting the ChangeFactors Increase in asset-based fees / Amount ¥2,034 million, Factors Increase in performance fees / Amount ¥1,067 million, Factors Increase in operating expenses and selling, general and administrative expenses / Amount ¥1,021 million
Key KPIsAUM (period-end) ¥26,429 hundred million, Average AUM ¥25,390 hundred million, Core earnings ¥4,723 million, Management fee rate (after deduction of commissions) 0.65 %, Balance-based fees (net of fee deductions) ¥8,112 million, Carried Interest ¥1,803 million, ROE (annualized) 24.4 %
Number of employees189 people
Annual DividendFull-year forecast ¥110 /share / Interim ¥55 /share / End of period ¥55 /share
Acquisition of treasury sharesMaximum amount 500,000,000 Yen / Maximum number of shares 185,000 Yen / Period 2 November 2026 to 30 December 2026 / Cancellation All shares acquired are scheduled to be cancelled on 31 December 2026
Market Size / ShareRanking by venture capital funds raised in Japan SPARX Group ranked third, 1,772 USD MN
New initiativesParticipation by 3 new LP investors in the SPARX Sapporo/Hokkaido GX Fund, Award of a Ministry of the Environment project to develop and demonstrate hydrogen supply chain models derived from renewable energy and other sources, Execution of an agreement with Tomakomai City on promoting the adoption of low-carbon hydrogen, Start of AUM recognition for Mirai Creation Fund IV, Share repurchase of up to ¥500 million and cancellation of all shares acquired, Start of luxury villa sales in the Niseko area
Items this document does not state (16)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planSegment resultsUnit price and quantity metricsNumber of stores and locationsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsPayout ratioCapital 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.

Asset-based fees increased as AUM grew, while performance fees also increased against the backdrop of favorable market conditions. Operating expenses and SG&A increased mainly due to commission expenses and personnel expenses, but the increase in revenue exceeded the increase in expenses. Net income was also affected by the ¥1,528 million gain on the sale of investment securities recorded in the first quarter.

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.
Presentation on Financial Results for the Second Quarter of the Fiscal Year Ending March 2027 | SPARX Group Co.,Ltd. (8739) timely disclosure | Komori