Kurashiru Inc (299A) Q2 2027 earnings summary

Executive summary

• H1 FY2027 net sales reached ¥9,716 million, up 23.9% against prior non-consolidated results; Q2 net sales rose 22.7% YoY to ¥4,948 million.

• H1 adjusted non-GAAP operating profit increased 10.4% to ¥1,809 million, while promotional investment weighed on margins.

• Growth priorities are Receipt Challenge and Kurashiru AI OS; the AL Holdings share transfer is planned to focus resources on these priorities.

Financial highlights

• H1 operating profit was ¥1,738 million, ordinary profit ¥1,737 million, and profit attributable to owners of parent ¥1,159 million; basic EPS was ¥27.05.

• H1 gross profit rose 26.3% to ¥4,703 million; gross margin expanded to 48.4% from 47.5%.

• H1 adjusted non-GAAP operating profit, including acquired intangible-asset and goodwill amortization adjustments, rose 10.4% to ¥1,809 million; non-GAAP profit was ¥1,228 million.

• Q2 gross profit was ¥2,393 million, up 25.8% YoY; Non-GAAP operating profit was ¥868 million, up 2.7% YoY.

• Q2 net income was ¥555 million, down 2.6% YoY; Non-GAAP profit was ¥589 million, down 2.9% YoY. Higher Non-GAAP SG&A, including ¥426 million higher advertising expense, partly offset gross profit growth.

Outlook and guidance

• FY2027 guidance remains net sales of ¥21,368 million (+25.7%), operating profit of ¥3,573 million (+3.2%), ordinary profit of ¥3,584 million (+2.2%), and parent profit of ¥2,468 million (+0.3%).

• FY2027 Non-GAAP operating profit is forecast at ¥3,716 million (+2.6%); Non-GAAP profit at ¥2,606 million (-0.2%). Forecast EPS is ¥57.93 reported and ¥61.15 Non-GAAP.

• FY2027 dividend forecast is ¥0 per share, including year-end.

• Kurashiru AI OS FY2027 revenue is expected to reach ¥500–600 million; paid contracts and revenue recognition began within four months of launch, with revenue starting in September 2026.

• H2 user-acquisition spending is planned for Receipt Challenge; full-year guidance was not being revised, and Non-GAAP operating margin is expected to recover from next FY as investment payback develops.