Worth reading
64In 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
-3000
Millions of yenWording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationSecond quarter of the fiscal year ending March 202710 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales203,607 Millions of yen+29.9%
Operating profit5,149 Millions of yen+18.9%
Ordinary income-558 Millions of yen
Net income-994 Millions of yen
Operating profit margin2.5
Results for the three months of the current quarter
Net Sales
96,965 Millions of yen+38.0%
qoq_pct-9.1
Gross profit
14,041 Millions of yen+22.8%
qoq_pct-9
Gross Profit Margin
14.5 %
Operating profit
1,621 Millions of yen-16.2%
qoq_pct-54.1
Adjusted operating profit
1,653 Millions of yen-19.0%
qoq_pct-53.2
Profit before tax
-1,927 Millions of yen
Full-year earnings forecast
Net Sales
410,000 Millions of yen
Operating profit
11,700 Millions of yen
Profit before tax
2,000 Millions of yen
Profit for the period
1,300 Millions of yen
Profit attributable to owners of the parent
1,100 Millions of yen
EPS
16.07 Yen
DPS
18 Yen
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 Sales49.7
Operating profit44
Profit before taxLoss; progress rate not disclosed
Profit attributable to owners of the parentLoss; progress rate not disclosed
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
The NZ and Europe businesses secured profit in line with plan, while Autocare exceeded its initial plan. However, first-half profit before tax and lower-level earnings were in the red, and the company plans to recover in the second half.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
OzCar bad debt provision-1,353
Further intensification of competition in the Australian automotive marketAmount not stated
Gross margin decline due to Autopact's EV shiftAmount not stated
Increase in interest expense due to higher interest ratesAmount not stated
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
AUD/JPY
108 Yen
NZD/JPY
90 Yen
New initiatives
- Minimising the impact in accordance with OzCar's Voluntary Administration proceedings
- Major management rationalisation at Autopact
- Expanding used-vehicle sales and trade-in resale at Autopact
- Beginning to handle new brands, including Chinese manufacturers, and changing allocations
- Cross-selling to customers of Autocare and Autopact
Key KPIsA metric the company considers important as a management benchmark.
- AUD/JPY revised plan assumption108 YenYear on year against the same period last year+8.3%
- NZD/JPY revised plan assumption90 YenYear on year against the same period last year+1.7%
- Adjusted net debt-to-equity ratio3.23 Times
- Adjusted working capital days26.4 Days
Medium-term management plan targets
Operating profit
15,000 Millions of yen
Target timingApproximately three years from FY ending March 2026
Profit attributable to owners of the parent
6,000 Millions of yen
Target timingApproximately three years from FY ending March 2026
ROE
15 %
DOE
4.5 Indicative %
Financial targets
ROE target
15 %
DOE target
4.5 Indicative %
Actual adjusted net debt-to-equity ratio
3.23 Times
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
1,353 Millions of yen
DetailsAllowance for doubtful accounts related to OzCar
Number of employees
Number of Employees2,784 People
Standalone number of employees32 People
Record date30 September 2026
Annual Dividend
Annual
18 Yen
Interim
8 Yen
End of period
10 Yen
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending March 2027 |
| Net Sales | 203,607 Millions of yen (YoY +29.9%) |
| Operating profit | 5,149 Millions of yen (YoY +18.9%) |
| Ordinary income | -558 Millions of yen |
| Net income | -994 Millions of yen |
| Operating profit margin | 2.5 |
| Results for the three months of the current quarter | Net Sales 96,965 Millions of yen (YoY +38.0%) / Gross profit 14,041 Millions of yen (YoY +22.8%) / Gross Profit Margin 14.5 % / Operating profit 1,621 Millions of yen (YoY -16.2%) / Adjusted operating profit 1,653 Millions of yen (YoY -19.0%) / Profit before tax -1,927 Millions of yen |
| Full-year earnings forecast | Net Sales 410,000 Millions of yen / Operating profit 11,700 Millions of yen / Profit before tax 2,000 Millions of yen / Profit for the period 1,300 Millions of yen / Profit attributable to owners of the parent 1,100 Millions of yen / EPS 16.07 Yen / DPS 18 Yen |
| Progress against full-year forecast | Net Sales 49.7 / Operating profit 44 / Profit before tax Loss; progress rate not disclosed / Profit attributable to owners of the parent Loss; progress rate not disclosed |
| Self-assessment against the plan | The NZ and Europe businesses secured profit in line with plan, while Autocare exceeded its initial plan. However, first-half profit before tax and lower-level earnings were in the red, and the company plans to recover in the second half. |
| Breakdown of Factors Affecting the Change | OzCar bad debt provision -1,353 / Further intensification of competition in the Australian automotive market Amount not stated / Gross margin decline due to Autopact's EV shift Amount not stated / Increase in interest expense due to higher interest rates Amount not stated |
| Key KPIs | Indicator name AUD/JPY revised plan assumption / Value 108 Yen / Year on year against the same period last year 8.3 Yen, Indicator name NZD/JPY revised plan assumption / Value 90 Yen / Year on year against the same period last year 1.7 Yen, Indicator name Adjusted net debt-to-equity ratio / Value 3.23 Times / Year on year against the same period last year Not disclosed, Indicator name Adjusted working capital days / Value 26.4 Days / Year on year against the same period last year Not disclosed |
| Number of employees | Number of Employees 2,784 People / Standalone number of employees 32 People / Record date 30 September 2026 |
| Assumptions Underlying the Business Outlook | AUD/JPY 108 Yen / NZD/JPY 90 Yen |
| Risk amount incorporated into the outlook | 1,353 Millions of yen |
| Medium-term management plan targets | Operating profit 15,000 Millions of yen / Profit attributable to owners of the parent 6,000 Millions of yen / ROE 15 % / DOE 4.5 Indicative % |
| Financial targets | ROE target 15 % / DOE target 4.5 Indicative % / Actual adjusted net debt-to-equity ratio 3.23 Times |
| Annual Dividend | Annual 18 Yen / Interim 8 Yen / End of period 10 Yen |
| New initiatives | Minimising the impact in accordance with OzCar's Voluntary Administration proceedings, Major management rationalisation at Autopact, Expanding used-vehicle sales and trade-in resale at Autopact, Beginning to handle new brands, including Chinese manufacturers, and changing allocations, Cross-selling to customers of Autocare and Autopact |
Items this document does not state (11)
Gross Profit MarginSelling, general and administrative expensesSegment resultsUnit price and quantity metricsNumber of stores and locationsPayout 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.The factors cited as weighing on profit were the recognition of an allowance for doubtful accounts of ¥1,353 million following the commencement of OzCar's Voluntary Administration proceedings, a decline in Autopact's gross margin and profitability as competition intensified in Australia's new-vehicle market, and higher interest expense resulting from rising interest rates. Meanwhile, the revenue forecast was revised upward because the AUD/JPY exchange-rate assumption was changed from 105 yen to 108 yen and NZ, Europe and Autocare are performing above their initial plans.
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