AINAVO HOLDINGS (7539) Q3 2026 earnings summary

Executive summary

• Nine-month revenue rose 2.0% YoY to ¥70,732M; gross profit increased 6.6% to ¥10,939M, supported by housing growth and tile sales.

• Operating profit fell 1.8% to ¥1,966M as higher SG&A, including personnel and administrative costs, offset gross profit gains.

• Net income declined 0.5% to ¥1,415M; comprehensive income rose 8.4% to ¥1,532M.

Financial highlights

• SG&A rose 8.6% to ¥8,973M; ordinary profit was ¥2,262M, down 0.7% YoY.

• EPS was ¥60.93 versus ¥61.36 in the prior year.

• Total assets were ¥47,948M, up ¥466M from fiscal year-end; net assets rose ¥895M to ¥27,194M, mainly on retained earnings and valuation gains.

• Equity ratio improved to 56.7% from 55.4% at fiscal year-end.

• Gross margin improved to 15.5% from 14.8%; operating margin was 2.8% versus 2.9%, and SG&A ratio rose to 12.7% from 11.9%.

Outlook and guidance

• FY2026 revenue forecast is ¥98,500M (+6.7% YoY), operating income ¥2,100M (+17.1%) and net income ¥1,600M (+4.7%); guidance is unchanged.

• FY2026 initiative progress: sash ¥5,300M target / 49.3%; siding ¥6,100M / 53.5%; apartment and detached housing ¥5,524M / 49.6%.

• Brand initiative progress: Maristo ¥1,400M target / 68.6%; Altis ¥590M / 83.1%; new-customer target 919 / 73.8%; sales target ¥2,400M / 60.2%.

• Management expects market recovery as supply conditions improve and new housing starts increase, while noting risks from rising costs and potential demand softening.