Kusurinomadoguchi (5592) Q2 2026 earnings summary

Executive summary

• Achieved increased revenue and profit for the first half of FY2026, driven by strong recurring (stock) sales across core business segments.

• Net income attributable to parent company shareholders surged due to additional deferred tax assets from capital reduction.

• Cost optimization and subsidiary rationalization led to record-high operating profit, with SG&A expenses and headcount decreasing year-over-year and sequentially.

Financial highlights

• Consolidated revenue for the first half: ¥5,825 million, up 7% year-over-year; Q2 revenue: ¥2,910 million, up 3% YoY.

• Operating income for the first half: ¥1,262 million, up 33% YoY; Q2: ¥632 million, up 11% YoY.

• Net income attributable to parent company shareholders: ¥1,620 million for the first half, up 288% YoY; Q2: ¥1,233 million, up 288% YoY.

• EBITDA: ¥959 million, up 12% YoY.

• Gross margin improved in key segments, with media business gross margin rising from 34% to 43% and "Minna no Okusuri Bako" business from 47% to 51%.

Outlook and guidance

• FY2026 full-year revenue forecast: ¥12,300 million (+10% YoY); operating income forecast: ¥2,200 million (+12% YoY); net income forecast: ¥2,240 million (+10% YoY).

• Progress rates at Q2: revenue 47%, operating income 57%, net income 72% of full-year targets.

• Annual dividend planned at ¥30 per share.

• Mid-term plan targets ¥20 billion in recurring sales and ¥5 billion in operating profit by FY2030.