Kusurinomadoguchi (5592) Q2 2027 earnings summary

Executive summary

• H1 FY2027 revenue rose 24.2% YoY to ¥7,236m and operating income rose 19.9% to ¥1,513m; net income fell 7.1% to ¥1,505m.

• Recurring sales grew across businesses; quarterly stock sales and stock gross profit reached records in Q2.

Financial highlights

• H1 gross profit was ¥4,125m (+24.7% YoY), ordinary income ¥1,506m (+20.3%) and EBITDA ¥2,338m (+17.9%); stock gross profit was ¥2,220m (+34.5%).

• Net income attributable to owners fell 7.1% YoY; the prior-year period benefited by ~¥600m from deferred tax asset recognition, while H1 included a ¥136.6m income-tax adjustment benefit.

• Operating cash flow was ¥10,884m versus ¥1,068m a year earlier, mainly due to a ¥9,005m increase in unpaid amounts; H1-end cash and equivalents were ¥12,893m.

Outlook and guidance

• FY2027 guidance unchanged: revenue ¥14,400m (+16.8%), operating income ¥3,100m (+15.6%), ordinary income ¥3,100m (+16.3%) and net income ¥3,100m (+5.0%); forecast EPS ¥270.53.

• H1 progress was 50% of revenue guidance and 49% of operating, ordinary and net income guidance; annual dividend forecast remained ¥40 per share.

• FY2030 targets: stock revenue of ¥20bn, operating profit of at least ¥5bn and a facility base of 100,000; priorities include software and service development, AI-enabled efficiency and growth investment.