Komori
Financial results presentation9223ASNOVA Co.,Ltd.Information and Communications, Services and Others

Earnings Presentation Materials for the First Quarter of the Fiscal Year Ending March 2027

In the first quarter of the fiscal year ending March 2027, revenue and operating profit before depreciation and amortization increased, reaching record highs for a quarter, supported by Qool's contribution to consolidated results and revenue growth in the domestic and Vietnam businesses. However, the Company remained in an operating loss position due to higher equipment procurement costs associated with the development of its M&A platform and EC sales.

Worth reading
67In focus
Scored from 5 of 6 sections
Direction
Improvement
Direction inferred from the company’s description.
Scale
337
¥ million (year-on-year increase in consolidated net sales)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationFirst quarter of the fiscal year ending March 20278 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,239 million+37.3%
Operating profit¥-111 million operating loss
Net income¥-79 million net loss
Results for the three months of the current quarter
EBITDA
¥407 million
Operating loss
¥-111 million
Full-year earnings forecast
Net Sales
¥5,079 million
EBITDA
¥2,012 million
Operating profit
¥86 million
Net loss for the period
¥-98 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。
Consolidated revenue24.4%
Consolidated operating profit before depreciation and amortization20.2%
ASNOVA revenue23.7%
ASNOVA operating profit before depreciation and amortization19.1%
Qool revenue27.7%
Qool operating profit before depreciation and amortization30.3%
ASNOVA VIETNAM revenue17.5%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progress broadly in line with expectations. Qool is progressing ahead of plan, while ASNOVA and ASNOVA VIETNAM are progressing broadly in line with plan.
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Revenue from existing businesses+¥53 million
  • Increase from the consolidation of Qool+¥89 million
  • Increase in equipment costs for EC sales-JPY 37 million
  • Higher personnel expenses-JPY 5 million
  • Increase in payment fees and other expenses-¥9 million
  • Increase in allowance for doubtful accounts-JPY 7 million
  • Increase in other expenses-¥28 million
New initiatives
  • Consolidation at high-utilization locations and measures to improve utilization rates
  • Strengthening efforts to win long-term and short-term contracts
  • Conducting employee training and considering revisions to the incentive system
  • Introducing electricity generated from renewable energy sources at all 24 company-operated equipment centers in Japan
  • Providing scaffolding for the Bak Dang pedestrian bridge project through ASNOVA VIETNAM
Key KPIsA metric the company considers important as a management benchmark.
  • Scaffolding holdingsApproximately 170
    Year on year against the same period last yearFlat
  • Customer Base3,548 companies
    Year on year against the same period last year+202 companies
  • Average scaffolding utilization rate in 1Q58.7 %
    Year on year against the same period last year+0.4pt
  • Number of contracted companies (ASNOVA VIETNAM)
    Year on year against the same period last year+23% vs. end of the previous fiscal year
  • Number of quotations (ASNOVA VIETNAM)
    Year on year against the same period last year+30% or more
Segment results
ASNOVA
Net Sales
¥938 million+4.6%
EBITDA
¥336 million
Qool
Net Sales
¥283 million
EBITDA
¥89 million
ASNOVA VIETNAM
Net Sales
¥17 million+213.7%
EBITDA
¥-15 million
Financial targets
Equity ratioApproximately 25%
Net debt/EBITDA ratioMaximum of 4.0x
Actual results
Equity ratio27.0%
Net debt/EBITDA ratio3.2x
Number of stores and locations
End of period5 sales offices and 33 equipment centers (as of end-July 2026)
Openings and closures during the periodClosed 4 locations in May 2026. Consolidated the network from 39 locations at the end of the same period of the previous year to 33 locations.
Number of employees
Number of Employees225 people
As ofEnd of June 2026
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFirst quarter of the fiscal year ending March 2027
Net Sales¥1,239 million (YoY +37.3%)
Operating profit¥-111 million (operating loss)
Net income¥-79 million (net loss)
Results for the three months of the current quarterEBITDA ¥407 million / Operating loss ¥-111 million
Full-year earnings forecastNet Sales ¥5,079 million / EBITDA ¥2,012 million / Operating profit ¥86 million / Net loss for the period ¥-98 million
Progress against full-year forecastConsolidated revenue 24.4% / Consolidated operating profit before depreciation and amortization 20.2% / ASNOVA revenue 23.7% / ASNOVA operating profit before depreciation and amortization 19.1% / Qool revenue 27.7% / Qool operating profit before depreciation and amortization 30.3% / ASNOVA VIETNAM revenue 17.5%
Self-assessment against the planProgress broadly in line with expectations. Qool is progressing ahead of plan, while ASNOVA and ASNOVA VIETNAM are progressing broadly in line with plan.
Segment resultsASNOVA Net Sales ¥938 million (YoY +4.6%) / EBITDA ¥336 million / Qool Net Sales ¥283 million / EBITDA ¥89 million / ASNOVA VIETNAM Net Sales ¥17 million (YoY +213.7%) / EBITDA ¥-15 million
Breakdown of Factors Affecting the ChangeFactors Revenue from existing businesses / Amount +¥53 million, Factors Increase from the consolidation of Qool / Amount +¥89 million, Factors Increase in equipment costs for EC sales / Amount -JPY 37 million, Factors Higher personnel expenses / Amount -JPY 5 million, Factors Increase in payment fees and other expenses / Amount -¥9 million, Factors Increase in allowance for doubtful accounts / Amount -JPY 7 million, Factors Increase in other expenses / Amount -¥28 million
Key KPIsIndicator name Scaffolding holdings / Value Approximately 170 / Year on year against the same period last year Flat, Indicator name Customer Base / Value 3,548 companies / Year on year against the same period last year +202 companies, Indicator name Average scaffolding utilization rate in 1Q / Value 58.7 % / Year on year against the same period last year +0.4pt, Indicator name Number of contracted companies (ASNOVA VIETNAM) / Value Not disclosed / Year on year against the same period last year +23% vs. end of the previous fiscal year, Indicator name Number of quotations (ASNOVA VIETNAM) / Value Not disclosed / Year on year against the same period last year +30% or more
Number of stores and locationsEnd of period 5 sales offices and 33 equipment centers (as of end-July 2026) / Openings and closures during the period Closed 4 locations in May 2026. Consolidated the network from 39 locations at the end of the same period of the previous year to 33 locations.
Number of employeesNumber of Employees 225 people / As of End of June 2026 / Changes during the period and hiring plan Not disclosed
Financial targetsEquity ratio Approximately 25% / Net debt/EBITDA ratio Maximum of 4.0x / Actual results Equity ratio 27.0% / Net debt/EBITDA ratio 3.2x
New initiativesConsolidation at high-utilization locations and measures to improve utilization rates, Strengthening efforts to win long-term and short-term contracts, Conducting employee training and considering revisions to the incentive system, Introducing electricity generated from renewable energy sources at all 24 company-operated equipment centers in Japan, Providing scaffolding for the Bak Dang pedestrian bridge project through ASNOVA VIETNAM
Items this document does not state (15)
Ordinary incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesUnit price and quantity metricsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders 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.

In addition to Qool's contribution to consolidated results, the domestic and Vietnam scaffolding rental businesses reported higher revenue. On the cost side, expenses increased due to the development of the group platform to support M&A-driven growth, higher personnel expenses, payment fees and allowance for doubtful accounts, and higher equipment procurement costs accompanying the expansion of EC sales.

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.
Earnings Presentation Materials for the First Quarter of the Fiscal Year Ending March 2027 | ASNOVA Co.,Ltd. (9223) timely disclosure | Komori