ASIRO (7378) Q2 2026 earnings summary

Executive summary

• Revenue for the six months ended April 30, 2026, rose 6.5% year-over-year to ¥3,560.7 million, driven by growth in the Legal Alliance segment despite a decline in Legal Media.

• Q2 revenue increased 4.4% year-over-year to ¥1,888 million, supported by steady legal media and alliance segment performance.

• Operating profit declined 23.4% year-over-year to ¥651.5 million due to increased advertising and investment in new business areas.

• Net profit attributable to owners dropped 28.9% year-over-year to ¥428.8 million.

• The company restructured its reporting segments to four: Legal Media, Legal Alliance, Legal Protect, and HR.

Financial highlights

• EBITDA for the period was ¥703.8 million, down 23.8% year-over-year; adjusted EBITDA was ¥680.3 million, down 22.8%.

• Cumulative revenue for the first half reached ¥3,561 million, up 6.5% year-over-year.

• Basic EPS for the period was ¥60.01, compared to ¥82.81 in the prior year.

• Cash and equivalents at period-end were ¥1,962.9 million, down ¥503.3 million from the previous year-end.

• Gross profit margin for Q2 was 36.0%, down from 39.8% a year earlier.

Outlook and guidance

• Full-year revenue is forecast at ¥7,000 million, up 5.3% year-over-year; operating profit is projected at ¥1,500 million, up 5.7%.

• Net profit attributable to owners is expected to decline 3.1% to ¥960 million.

• Aims for operating profit of ¥1.5 billion in FY2026 and ¥2.0 billion in FY2027, with further growth to ¥4.0 billion by FY2030.

• Dividend policy revised to a payout ratio of 40% or higher, with interim and year-end dividends totaling ¥65 per share.

• Focus on strengthening the revenue base, improving ad efficiency, and launching new initiatives in the second half.