Japan Investment Adviser (7172) investor relations material

Executive summary

• Achieved record-high profits at all levels for the first half of FY2026, with net sales up 9.4% year-over-year to ¥22,716 million and operating profit up 10.4% to ¥12,565 million.

• Equity sales in the operating lease business rose 37.5% year-over-year, with the Operating Lease Business remaining the primary revenue driver and sales up 10.3% year-over-year.

• Real Estate Business sales surged 61.2% year-over-year, while comprehensive income increased 64.1% to ¥8,207 million.

• All profit metrics exceeded targets, maintaining high progress rates against full-year forecasts.

Financial highlights

• Net sales: ¥22,716 million (+9.4% YoY); Operating profit: ¥12,565 million (+10.4% YoY); Ordinary profit: ¥11,611 million (+22.3% YoY); Net income attributable to owners: ¥7,869 million (+28.0% YoY).

• Gross profit margin rose to 81.4% from 77.1% YoY.

• SG&A expenses increased by ¥1,276 million (+27.5% YoY), mainly due to higher labor costs.

• Net profit per share for the period was ¥129.55, up from ¥101.55 in the prior year.

• Total assets at June 30, 2026, were ¥268,541 million, down from ¥293,632 million at year-end 2025.

Outlook and guidance

• FY2026 initial earnings forecast remains unchanged due to ongoing geopolitical uncertainties.

• Full-year forecast: Net sales ¥48,960 million, operating profit ¥23,580 million, ordinary profit ¥19,670 million, net income ¥13,000 million.

• Net profit per share for the full year is forecast at ¥209.34.

• Targeting about 30% of sales from businesses other than operating lease by FY2026.