BASE (4477) Q2 2026 earnings summary

Executive summary

• Net sales for the six months ended June 30, 2026, rose 35.5% YoY to ¥12,388 million, with gross profit up 53.4% to ¥6,395 million and EBITDA up 151.2% YoY, driven by BASE Business growth and E-Store ShopServe consolidation.

• Operating profit increased 123.5% YoY to ¥1,068 million, and profit attributable to owners of parent grew 138.7% YoY to ¥815 million.

• BASE AI features launched for shop owners, expanding AI-powered management support.

• Acquired Port, Inc. in April 2026 for ¥1,300 million to expand the customer base and enter entertainment-tech; B/S consolidation began in June, P/L in July.

• The business environment remains stable, with growth in e-commerce, especially in services, supporting performance.

Financial highlights

• Group GMV grew 31.6% YoY, mainly due to E-Store ShopServe consolidation.

• Net Sales: ¥12,388 million (+35.5% YoY); Gross Profit: ¥6,395 million (+53.4% YoY); Operating Profit: ¥1,068 million (+123.5% YoY); Net Income: ¥815 million (+138.7% YoY).

• EBITDA: ¥1,179 million (+151.2% YoY); Gross Profit Margin: 51.7% (+5.7pt YoY).

• Ordinary profit for the period was ¥919 million, up 58.7% YoY.

• Earnings per share for the six months were ¥7.08, compared to ¥3.88 in the prior year.

Outlook and guidance

• FY2026 full-year forecast: Net Sales ¥28,371 million (+36.9% YoY), Gross Profit +40.9% YoY, Operating Profit ¥2,270 million (+34.6% YoY), EBITDA ¥2,457 million (+40.5% YoY).

• Management targets 10–15% YoY growth in BASE Business, ~10% in PAY.JP, ~30% in YELL BANK, and stable growth in E-Store ShopServe.

• Profit attributable to owners of parent expected to decrease 17.9% YoY due to tax effects.

• Dividend of 5 yen per share planned; share buyback budget set at ¥1 billion.