Acom (8572) Q2 2027 earnings summary

Executive summary

• H1 operating revenue rose 8.0% YoY to ¥178,927 million and operating profit rose 6.0% to ¥57,282 million; profit attributable to owners of the parent fell 28.1% to ¥36,637 million.

• Receivables increased 3.6% to ¥3,015.3 billion, exceeding ¥3 trillion for the first time; growth reflected domestic customer gains and yen depreciation.

• Revenue growth was mainly driven by higher interest on operating loans; attributable profit declined as the prior-year deferred-tax benefit did not recur.

Financial highlights

• Operating revenue exceeded forecast by 2.4% and reached 50.3% of the full-year target; operating profit exceeded forecast by 10.8% and reached 58.5%.

• Operating expenses rose 9.0% YoY to ¥121,644 million, mainly due to higher financial expenses and bad-debt provisions amid business expansion.

• Ordinary profit rose 5.8% to ¥57,382 million; comprehensive income declined to ¥35,524 million from ¥44,467 million.

• Consolidated bad-debt provision increased 9.9% to ¥58.3 billion, while financial expenses rose 46.8% to ¥4.9 billion.

Outlook and guidance

• FY March 2027 forecasts: operating revenue ¥356.0 billion (+5.4%), operating profit ¥98.0 billion (-2.4%), ordinary profit ¥98.5 billion (-2.0%) and parent-attributable profit ¥63.8 billion (-19.9%).

• Full-year receivables forecast is ¥3,099.8 billion (+6.5%); the H1 result was described as on track to meet the growth target.

• FY March 2027 basic EPS is forecast at ¥40.72; the full-year dividend forecast remains ¥22 per share.

• Interest-repayment requests and provision drawdowns are each expected to decline ~25% YoY; medium-term plan targets ¥3,279.6 billion receivables by FY March 2028 and operating-profit growth for three consecutive years.