BuySell Technologies (7685) Q2 2026 earnings summary

Executive summary

• Net sales for FY2026 1H reached 72.36 billion yen, up 50.7% year-over-year, with operating profit at 9.24 billion yen, up 90.8% year-over-year, and net income at 5.98 billion yen, up 114.3% year-over-year.

• Comprehensive income for the period was 5.98 billion yen, up 114.5% year-over-year.

• Growth was driven by increased purchases, higher revisit and repeat rates, and higher unit prices in both home-visit and in-store segments.

• Revenue and profit exceeded the revised 1H forecast, supported by strategic inventory sales and operational improvements.

Financial highlights

• Gross profit margin slightly declined to 52.2% (down 1.4pt YoY) due to a higher share of lower-margin store purchase inventory sales.

• Adjusted EBITDA rose 80.3% YoY to 9.99 billion yen, with margin improving to 13.8%.

• Operating margin improved by 2.7pt YoY to 12.8%.

• Basic earnings per share for the six months was 96.80 yen, up from 47.68 yen year-over-year, reflecting a stock split.

• Total assets as of June 30, 2026, were 65.13 billion yen, with net assets at 27.34 billion yen; equity-to-asset ratio improved to 40.7%.

Outlook and guidance

• FY2026 net income forecast revised upward to 9.8 billion yen, EPS to 158.5 yen, and dividend forecast to 27 yen per share.

• FY2027 guidance raised: net sales to 173 billion yen (+24% YoY), operating profit to 20 billion yen (+28% YoY), and profit attributable to owners to 12 billion yen.

• Full-year 2026 net sales forecast is 140 billion yen (+39.1% YoY), operating profit 15.6 billion yen (+72.5% YoY), and profit attributable to owners 9.8 billion yen (+86.0% YoY).

• Margin improvement of 1% in OPM targeted by FY27, supported by AI-driven productivity gains.