GO (581A) investor relations material

Executive summary

• Q1 FY5/2027 net sales rose 27.8% YoY to ¥12,243 million; Adjusted EBITDA increased 71.2% to ¥3,365 million.

• E-hailing revenue grew 41.8%; rides rose 9.8% to 32.16 million and average revenue per ride increased 29.1% to ¥191.

• A Waymo partnership targets a Tokyo unmanned taxi service in 2027; current-year earnings impact is expected to be minor.

Financial highlights

• Net sales were ¥12,243 million, gross profit ¥6,887 million and operating profit ¥3,042 million; respective YoY growth was 27.8%, 32.6% and 92.8%.

• Adjusted EBITDA was ¥3,365 million, up 71.2% YoY; its margin reached 27.5%, up 7.0pt.

• Profit attributable to owners of parent was ¥2,476 million, up 29.6% YoY; net profit margin was 20.2%, up 0.3pt.

• Gross margin rose to 56.3%, up 2.1pt YoY; Adjusted SG&A expenses increased 9.0% to ¥3,521 million.

• EBITDA was ¥3,168 million; profit before tax was ¥3,023 million and net profit ¥2,686 million.

Outlook and guidance

• FY ending May 31, 2027 forecasts unchanged: net sales ¥48,500 million, Adjusted EBITDA ¥14,400 million, EBITDA ¥13,500 million and operating profit ¥13,000 million.

• Forecasts also include ordinary profit of ¥13,100 million and profit attributable to owners of parent of ¥11,200 million; dividends are forecast at ¥0.00 per share.

• Q1 progress was 25.2% of net sales, 23.4% of Adjusted EBITDA and operating profit, and 22.1% of the profit forecast; the medium-term model targets gross margin around 60% and Adjusted EBITDA margin around 35%.