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Financial results presentation9552Quants Research Institute Holdings,Inc.Information and Communications, Services and Others

Financial Results Briefing Materials for the Third Quarter of the Fiscal Year Ending September 2026

For the nine months ended Q3, revenue, operating profit and net profit exceeded the year-earlier period, with operating profit reaching 77.0% of the full-year forecast. The full-year operating profit forecast was raised for the M&A advisory business and lowered for the consulting business, leaving the overall forecast unchanged.

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Contents of this document

Financial results presentationQ3 FY202612 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥15,927 millions+37.3%
Operating profit¥4,447 millions+42.0%
Net income¥2,645 millions+45.5%
Operating profit margin27.9 %
Results for the three months of the current quarter
M&A advisory business
Net Sales
¥4,372 millions
Operating profit
¥1,845 millions
Operating profit margin
42.2 %
Completed Engagements
67 Engagements
Placement fee
¥65 millions
Consulting business
Net Sales
¥1,049 millions
Year on year against the same period last year+242.1%
Full-year earnings forecast
Net Sales
¥22,292 millions
Operating profit
¥5,778 millions
Net income for the current fiscal year
¥3,405 millions
Earnings per share
¥64.33
M&A brokerage business operating profit
¥6,949 millions
Consulting business operating income
¥-1,100 millions
Incubation business operating profit
¥-70 millions
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 Sales71.5
Operating profit77
Net income for the current fiscal year77.7
Earnings per share76.6
M&A brokerage business revenue71.6
Consulting business revenue71.3
Incubation business revenue65.7
M&A brokerage business operating profit74.8
What the company explained in this material
Key points of the Q&AKey questions raised by investors at the briefing and the company's answers
  1. The decline in retained engagements in the M&A advisory business resulted from excluding deals that did not meet the stricter engagement acceptance criteria
  2. The closing rate has not recovered markedly, but is expected to improve following changes to the sales structure and stricter engagement acceptance criteria
  3. The decline in average deal value in Q3 was due to a lower proportion of large deals
  4. The widening operating loss in the consulting business resulted from higher recruitment and advertising expenses
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Tax rateAssumed at 40% based on FY25/9 results
Number of M&A advisors320–350 people
Completed EngagementsApproximately 250 transactions
Placement feeApproximately ¥70 million
Deal closing periodApproximately 7 months
New initiatives
  • Establishment of an AI Strategy Division
  • Promoting the use of AI across all processes in the M&A advisory business
  • Establishment of an AI Lab in the consulting business
  • Shifting product structuring in the operating lease business to a JOLCO-centered model
Key KPIsA metric the company considers important as a management benchmark.
  • Completed Engagements67 Engagements
    Year on year against the same period last yearup 6 deals year on year
  • Number of advisers337 people
    Year on year against the same period last yeardown from 372 people in the year-earlier period
  • Number of outstanding mandates1,563 Engagements
    Year on year against the same period last yeardown from 1,804 engagements in the year-earlier period
  • Sales per employee¥13 millions
    Year on year against the same period last year+32.7%
  • Number of consultants274 people
    Year on year against the same period last year+132.2%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Completed Engagements
67 Engagements
Placement fee
¥65 millions
Year on year against the same period last year¥59 million in the year-earlier period
Number of consultants
274 people
Segment results
M&A advisory business
Net Sales
¥12,896 millions
Revenue, year on year20.3
Operating profit
¥5,194 millions
Year-on-year operating profit growth31.8
Consulting business
Net Sales
¥2,707 millions
Revenue, year on year211.1
Operating profit
¥-695 millions
Incubation business
Net Sales
¥323 millions
Revenue, year on year13,383
Operating profit
¥-45 millions
Medium-term management plan targets
Consulting business revenueRevenue at the same level as the M&A advisory business in 4–5 years
AI talentMore than 75% of consultants to become AI experts in FY2027/9
Number of stores and locations
Number at period-end8 domestic offices and a Singapore subsidiary
Number of employees
Number of Employees337 M&A advisors and 274 consultants
Changes during the period and hiring planThe number of consultants is expected to be approximately 320, including scheduled hires. The number of M&A advisors is expected to be 320–350.
Annual Dividend
Undecided for FY2026/9; ¥5 per share for FY2025/9
Payout ratio
Target payout ratio of 10%
Acquisition of treasury shares
Number of shares acquired3,876,500 shares
Total acquisition price¥3,799,974,900
Acquisition period18 May 2026–22 June 2026
Number of shares cancelled3,405,888 shares
Cancellation date31 July 2026
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredQ3 FY2026
Net Sales¥15,927 millions (YoY +37.3%)
Operating profit¥4,447 millions (YoY +42.0%)
Net income¥2,645 millions (YoY +45.5%)
Operating profit margin27.9 %
Results for the three months of the current quarterM&A advisory business Net Sales ¥4,372 millions / Operating profit ¥1,845 millions / Operating profit margin 42.2 % / Completed Engagements 67 Engagements / Placement fee ¥65 millions / Consulting business Net Sales ¥1,049 millions / yoy_pct 242.1
Full-year earnings forecastNet Sales ¥22,292 millions / Operating profit ¥5,778 millions / Net income for the current fiscal year ¥3,405 millions / Earnings per share ¥64.33 / M&A brokerage business operating profit ¥6,949 millions / Consulting business operating income ¥-1,100 millions / Incubation business operating profit ¥-70 millions
Progress against full-year forecastNet Sales 71.5 / Operating profit 77 / Net income for the current fiscal year 77.7 / Earnings per share 76.6 / M&A brokerage business revenue 71.6 / Consulting business revenue 71.3 / Incubation business revenue 65.7 / M&A brokerage business operating profit 74.8
Segment resultsM&A advisory business Net Sales ¥12,896 millions / Revenue, year on year 20.3 / Operating profit ¥5,194 millions / Year-on-year operating profit growth 31.8 / Consulting business Net Sales ¥2,707 millions / Revenue, year on year 211.1 / Operating profit ¥-695 millions / Incubation business Net Sales ¥323 millions / Revenue, year on year 13,383 / Operating profit ¥-45 millions
Key KPIsIndicator name Completed Engagements / Value 67 Engagements / Year on year against the same period last year up 6 deals year on year, Indicator name Number of advisers / Value 337 people / Year on year against the same period last year down from 372 people in the year-earlier period, Indicator name Number of outstanding mandates / Value 1,563 Engagements / Year on year against the same period last year down from 1,804 engagements in the year-earlier period, Indicator name Sales per employee / Value ¥13 millions / Year on year against the same period last year ¥32.7 millions, Indicator name Number of consultants / Value 274 people / Year on year against the same period last year 132.2 people
Unit price and quantity metricsCompleted Engagements 67 Engagements / Placement fee ¥65 millions / Number of consultants 274 people
Number of stores and locationsNumber at period-end 8 domestic offices and a Singapore subsidiary / Number of store openings and closures during the period Not disclosed
Number of employeesNumber of Employees 337 M&A advisors and 274 consultants / Changes during the period and hiring plan The number of consultants is expected to be approximately 320, including scheduled hires. The number of M&A advisors is expected to be 320–350.
Assumptions Underlying the Business OutlookTax rate Assumed at 40% based on FY25/9 results / Number of M&A advisors 320–350 people / Completed Engagements Approximately 250 transactions / Placement fee Approximately ¥70 million / Deal closing period Approximately 7 months
Medium-term management plan targetsConsulting business revenue Revenue at the same level as the M&A advisory business in 4–5 years / AI talent More than 75% of consultants to become AI experts in FY2027/9
Annual DividendUndecided for FY2026/9; ¥5 per share for FY2025/9
Payout ratioTarget payout ratio of 10%
Acquisition of treasury sharesNumber of shares acquired 3,876,500 shares / Total acquisition price ¥3,799,974,900 / Acquisition period 18 May 2026–22 June 2026 / Number of shares cancelled 3,405,888 shares / Cancellation date 31 July 2026
Key points of the Q&AThe decline in retained engagements in the M&A advisory business resulted from excluding deals that did not meet the stricter engagement acceptance criteria, The closing rate has not recovered markedly, but is expected to improve following changes to the sales structure and stricter engagement acceptance criteria, The decline in average deal value in Q3 was due to a lower proportion of large deals, The widening operating loss in the consulting business resulted from higher recruitment and advertising expenses
New initiativesEstablishment of an AI Strategy Division, Promoting the use of AI across all processes in the M&A advisory business, Establishment of an AI Lab in the consulting business, Shifting product structuring in the operating lease business to a JOLCO-centered model
Items this document does not state (10)
Ordinary incomeGross Profit MarginSelling, general and administrative expensesSelf-assessment against the planBreakdown of Factors Affecting the ChangeRisk amount incorporated into the outlookFinancial targetsCapital expendituresOrders received and order backlogMarket Size / Share

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 operating profit forecast for the M&A advisory business was raised because the status of ongoing deals and the reduction in personnel and recruitment expenses exceeded expectations. The operating profit forecast for the consulting business was lowered because hiring progressed more than expected, increasing recruitment and advertising expenses.

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Financial Results Briefing Materials for the Third Quarter of the Fiscal Year Ending September 2026 | Quants Research Institute Holdings,Inc. (9552) timely disclosure | Komori