F&M Co. (4771) Q2 2026 earnings summary

Executive summary

• Consolidated net sales for Q2 FY2026 rose 25.5% year-over-year to ¥8,956 million, with operating profit up 49.9% to ¥937 million and net profit attributable to shareholders up 59.9% to ¥647 million, driven by membership and service expansion across all segments.

• All major business segments—Accounting Services, Consulting, and Business Solutions—reported steady increases in membership and revenue, supported by operational efficiency improvements.

• The Office Station series surpassed 50,000 users, and the life insurance channel in Accounting Services exceeded 100,000 members.

Financial highlights

• Net sales rose 25.5% year-over-year to ¥8,956 million; gross profit increased 25.8% to ¥5,934 million.

• Operating profit margin improved to 10.5% from 8.8% a year ago, with operating profit at ¥937 million versus ¥625 million a year earlier.

• EBITDA grew 37.0% year-over-year to ¥1,905 million; profit attributable to owners of parent increased 59.9% to ¥647 million.

• Net profit per share increased to ¥43.78 from ¥27.71 year-over-year.

• Total assets grew to ¥18,065 million, and equity ratio remained high at 75.1%.

Outlook and guidance

• Full-year FY2026 forecast: net sales of ¥20,867 million (+22.3% YoY), operating profit of ¥3,132 million (+15.3% YoY), and profit of ¥2,088 million (+15.1% YoY).

• Major segments are expected to continue double-digit growth, with Consulting and Business Solutions leading in sales and profit expansion.

• No changes to previously announced earnings or dividend forecasts.