Miroku Jyoho Service (9928) Q4 2026 earnings summary

Executive summary

• Achieved record highs in consolidated net sales, operating profit, ordinary profit, and profit, with year-on-year growth of 6.0%, 6.2%, 7.5%, and 23.4% respectively.

• Strong growth in service revenues, especially from cloud and subscription models, and successful expansion of the customer base.

• Significant progress in shifting ERP products to subscription models, with subscription contracts up 52.9% year-on-year.

• Launched new SaaS ERP product LucaTech GX Lite and enhanced AI-powered DX platform services.

• Expanded global presence by acquiring Synergix Technologies Pte Ltd. in Singapore, included in consolidated results from Q4.

Financial highlights

• Consolidated net sales: ¥48,926 million (up 6.0% year-on-year); operating profit: ¥6,677 million (up 6.2%); ordinary profit: ¥6,870 million (up 7.5%); profit attributable to owners: ¥5,406 million (up 23.4%).

• Gross profit increased to ¥29,651 million; gross profit ratio improved to 60.6%; operating profit margin stable at 13.6%.

• Service revenues up 14.7% year-on-year to ¥21,164 million; software utilization fees up 33.8%.

• Cloud and subscription ARR exceeded ¥11.4 billion, up 36.9% year-on-year.

• Basic earnings per share rose to ¥180.56 (up 23.3%).

Outlook and guidance

• FY2027 forecast: net sales ¥53,800 million (up 10.0%), operating profit ¥7,230 million (up 8.3%), profit attributable to owners ¥4,810 million (down 11.0%).

• Medium-term targets for FY2028: net sales ¥60 billion, ordinary profit ¥12 billion, ROE >18%.

• Profit outlook for FY2027 reflects absence of prior year’s investment securities gains.

• Continued acceleration of subscription model shift, with a focus on balancing profitability and growth.

• Dividend per share forecast for FY2027 is ¥65, up from ¥60 in FY2026.