Miroku Jyoho Service (9928) Q2 2027 earnings summary

Executive summary

• H1 FY2027 net sales rose 6.4% YoY to ¥25,727m; operating profit increased 20.6% to ¥3,800m, while profit attributable to owners of parent fell 5.8% to ¥2,500m.

• Subscription adoption lifted recurring software revenues and ARR; upfront hiring and wage investments increased SG&A by ¥1,150m YoY.

• Strategic priorities include broad AI utilization, cloud subscription growth, customer DX support, and expansion in Singapore and ASEAN with Synergix Technologies.

Financial highlights

• H1 net sales were ¥25,727m, gross profit ¥16,186m, and operating profit ¥3,800m, versus ¥24,172m, ¥14,387m, and ¥3,151m, respectively, in H1 FY2026.

• Ordinary profit increased 19.0% YoY to ¥3,875m; profit attributable to owners of parent declined 5.8% to ¥2,500m.

• Prior-year H1 included a ¥462m gain on sale of investment securities versus ¥41m in current H1; current H1 also recorded ¥34m loss on investment securities valuation.

• Operating cash flow was ¥2,748m, investing cash outflow ¥1,724m, and financing cash outflow ¥2,391m; cash and cash equivalents ended at ¥12,403m.

Outlook and guidance

• FY2027 forecast remains unchanged: net sales ¥53,800m, operating profit ¥7,230m, ordinary profit ¥7,380m, parent profit ¥4,810m, and basic EPS ¥160.59.

• Forecast YoY changes are 10.0% for sales, 8.3% for operating profit, 7.4% for ordinary profit, and a decline of 11.1% for parent profit; revisions are to be disclosed promptly if needed.