Japan Investment Adviser (7172) Q3 2026 earnings summary

Executive summary

• 9M FY2026 net sales rose 24.4% YoY to ¥36,739 million; operating profit, ordinary profit and net income reached period records.

• Operating Lease remained the core growth driver, with equity sales up 30.4% YoY to ¥148,052 million and healthy JOL/JOLCO investor demand.

Financial highlights

• Gross profit increased 28.1% YoY to ¥28,420 million; gross margin was 77.4%, up from 75.1% in 9M FY2025.

• SG&A rose 29.2% YoY to ¥8,931 million, including higher labor costs, rents, taxes and dues.

• Operating profit rose 27.6% to ¥19,489 million, ordinary profit 27.6% to ¥16,219 million, and profit attributable to owners 37.3% to ¥11,204 million.

• Non-operating expenses increased 32.8% YoY to ¥5,238 million, including ¥647 million in foreign-exchange losses and ¥2,123 million in interest expenses.

Outlook and guidance

• FY2026 forecasts unchanged: net sales ¥48,960 million, operating profit ¥23,580 million, ordinary profit ¥19,670 million and profit attributable to owners ¥13,000 million.

• FY2026 operating lease equity sales forecast remains ¥180,000 million; 9M progress was 82.3%, with net sales and operating profit progress at 75.0% and 82.7%.

• The three-year plan’s FY2026 sales and net profit forecasts are expected to be missed because development of the next core business is delayed.

• FY2026 net profit per share forecast was ¥209.34; forecasts may differ materially with future business conditions and other uncertainties.