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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Money Forward
Money Forward (3994) investor relations material
Money Forward Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary15 Oct, 2026
Executive summary
Q3 net sales were ¥17.916bn, up 48% reported and 66% excluding SMARTCAMP deconsolidation; 9M sales rose 32.9% to ¥46,909mn.
Q3 adjusted EBITDA was ¥4.802bn, with a record 26.8% margin; 9M adjusted EBITDA rose 196.5% to ¥9,896mn.
Q3 operating profit reached ¥1.895bn versus a ¥387mn loss YoY; 9M operating profit was ¥1,686mn and parent-attributable profit was ¥498mn.
Growth initiatives emphasized AI-enabled back-office workflows, agents and managed services, alongside planned subscription price revisions.
Financial highlights
Q3 consolidated EBITDA was ¥4.732bn; adjusted EBITDA increased ¥3.360bn YoY to ¥4.802bn. EBITDA excluding HIRAC FUND rose ¥1.608bn YoY to ¥2.997bn.
9M gross profit was ¥32,386mn versus ¥23,929mn YoY; SG&A was ¥30,699mn versus ¥25,909mn.
9M ordinary profit was ¥328mn versus a ¥2,375mn loss, and comprehensive income was ¥2,552mn versus a ¥2,715mn loss.
Q1–Q3 adjusted EBITDA reached ¥9.90bn; business cash flow excluding Card business impact improved ¥2.619bn YoY.
Outlook and guidance
FY26 net sales guidance is ¥60.5–62.3bn, SaaS ARR ¥49.742–52.505bn and adjusted EBITDA ¥10.5–11.5bn; sales growth excluding Nexsol and SMARTCAMP is 33.1%–37.1%.
FY26 operating profit guidance is -¥500mn to ¥1.5bn; ordinary profit -¥2.2bn to -¥200mn; parent-attributable loss ¥3.2bn to ¥700mn.
FY26 business cash flow guidance is ¥2–4bn; EPS guidance is -¥57.82 to -¥12.65 per share.
Medium-term FY28 targets: net sales ¥90bn+, SaaS ARR ¥80bn+, EBITDA ¥27bn+, business cash flow ¥18bn+ and Business segment EBITDA margin 30%+.
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Latest events from Money Forward
- AI-led back-office expansion pairs 8.5x midmarket ARR growth with a 40%+ long-term EBITDA margin target.3994
Investor presentation - Accelerating SaaS and AI-driven growth with strong recurring revenue and global ambitions.3994Investor presentation
- Net sales and ARR surged, profitability improved, and guidance was raised on strong segment growth.3994Q2 2026
- Sustained high growth, market leadership, and strategic focus drive expansion and profitability.3994Investor presentation
- Record sales and profit growth, with guidance raised on SaaS and AI-driven momentum.3994Q1 2026
- Acquisition of AKASHI expands HR SaaS coverage and accelerates growth through strategic alliances.3994Investor presentation
- Net sales and profitability exceeded guidance, driven by SaaS ARR growth and AI investments.3994Q4 2025
- Record EBITDA and strong ARR growth, with narrowing losses and robust outlook.3994Q3 2025
- Strong SaaS and sales growth, record EBITDA, and strategic moves drive robust margin outlook.3994Q2 2025
Next Money Forward earnings date
Q4 202614 Jan, 2027
Money Forward
Next Money Forward earnings date
Q4 202614 Jan, 2027
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Frequently asked questions
Money Forward Inc. is a Japan-based company that provides financial software and services for individuals and businesses. The company offers cloud-based solutions for personal finance management, household budgeting, and corporate accounting. Its products include tools for expense tracking, invoicing, payroll, and tax management, aiming to streamline financial operations and enhance efficiency. The company is headquartered in Tokyo, Japan, and its shares are listed on the Tokyo Stock Exchange.