M3 (2413) Q1 2026 earnings summary

Executive summary

• Revenue rose 34% year-over-year to JPY 86,200 million in FY2025 Q1, with operating profit up 17% to JPY 19,777 million and net profit up 6% to JPY 13,536 million, driven by strong organic growth and recent acquisitions.

• All major business segments showed solid momentum, with notable organic growth, successful integration of acquisitions, and new contributions from Patient Solution after ELAN Corporation consolidation.

• The negative impact from COVID-related sales ended in FY2024, with a return to baseline growth in FY2025.

Financial highlights

• FY2025 Q1 revenue: JPY 86,200 million (+34% YoY); operating profit: JPY 19,777 million (+17% YoY); net profit: JPY 13,536 million (+6% YoY); profit before tax: JPY 19,683 million (+5% YoY).

• Revenue and profits exceeded initial forecasts, with both metrics off to a strong start for the fiscal year.

• Order backlog reached JPY 35.9 billion, showing year-over-year improvement.

• Basic earnings per share for the quarter were JPY 17.44, up from JPY 16.56 year-over-year.

• Total assets as of June 30, 2025, were JPY 584,596 million, with equity attributable to owners at JPY 374,301 million.

Outlook and guidance

• Management aims to expand the business foundation and achieve medium- to long-term growth, continuing aggressive M&A and ecosystem expansion.

• Fiscal year 2026 revenue forecast at JPY 360,000 million (+26% YoY); operating profit projected at JPY 70,000 million (+11% YoY); profit attributable to owners expected at JPY 45,000 million (+11% YoY).

• Forecasts indicate continued solid performance, with a focus on organic growth and integration of new businesses.

• Dividend forecast for fiscal year ending March 2026 remains undetermined, pending review of capital needs and cash flow.