Japan Investment Adviser (7172) Q4 2025 earnings summary

Executive summary

• Net sales increased 24.4% year-over-year to ¥38,738 million, with net income up 30.9% to ¥10,542 million, and operating profit up 55.9% to ¥18,884 million, surpassing annual forecasts and marking record-high profits for the second consecutive year.

• The company exceeded the first and second year targets of its medium-term plan, with Operating Lease Business equity sales reaching the final year target one year early, but expects FY2026 results to fall short due to delays in developing new core businesses.

• The company maintained a high gross profit margin of 75.2% and continued to diversify its business portfolio, focusing on real estate, renewable energy, and private equity investments.

Financial highlights

• Net sales: ¥38,738 million (up 24.4% year-over-year).

• Operating profit: ¥18,884 million (up 55.9% year-over-year).

• Ordinary profit: ¥16,625 million (up 42.9% year-over-year).

• Gross profit increased to ¥29,140 million from ¥20,833 million year-over-year.

• Net profit per share was ¥174.13, up from ¥133.19.

Outlook and guidance

• FY2026 net sales forecasted at ¥48,960 million, with operating profit at ¥23,580 million and net income at ¥13,000 million, all expected to reach record highs.

• Equity sales in the Operating Lease Business projected at ¥180 billion, up ¥30 billion from the medium-term plan.

• Dividend forecast for FY2026 is ¥108 per share, targeting a payout ratio of 50.3%.

• The company is redesigning its real estate fractional ownership product strategy and expects limited impact from exchange rate fluctuations due to hedging.