MIXI (2121) Q4 2026 earnings summary

Executive summary

• Net sales for Q4 reached JPY 54.9 billion, up 23.5% year-on-year, driven by strong betting business and PointsBet consolidation.

• Full-year net sales were JPY 171.3 billion (+10.7% YoY), EBITDA at JPY 31.1 billion (–1.6% YoY), and profit attributable to owners at JPY 17.2 billion (–1.9% YoY).

• Operating income declined 16.3% year-on-year due to increased amortization expenses from PointsBet acquisition.

• AI utilization led to annual cost reductions of JPY 1 billion.

• Comprehensive income dropped 6.9% year-on-year to JPY 19,018 million.

Financial highlights

• Q4 FY2026 net sales: JPY 54,944 million (+23.5% YoY); EBITDA: JPY 13,213 million (+19.6% YoY); operating income: JPY 9 billion; profit attributable to owners: JPY 6.7 billion.

• Full-year FY2026 net sales: JPY 171,369 million (+10.7% YoY); EBITDA: JPY 31,176 million (–1.6% YoY); operating income: JPY 22,256 million (–16.3% YoY); net income: JPY 17,270 million (–1.9% YoY).

• Gross profit increased to JPY 113,590 million from JPY 106,043 million year-over-year.

• Basic earnings per share rose to JPY 260.72 from JPY 255.43 year-over-year.

• Cash and cash equivalents at year-end were JPY 111,190 million, up JPY 3,016 million.

Outlook and guidance

• FY2027 forecast: net sales JPY 185 billion (+8.0%), EBITDA JPY 31.5 billion (+1.1%), operating income JPY 19.5 billion (–12.4%), profit attributable to owners JPY 13.5 billion (–21.8%).

• Net sales and EBITDA expected to rise due to full-year PointsBet consolidation and growth in sports and lifestyle segments.

• Operating income to decline due to upfront investments and increased amortization; ordinary income and profit to decrease due to absence of prior one-time FX gains.

• Sports and lifestyle segments projected to drive growth; digital entertainment segment expected to decline.

• Dividend per share forecast to rise from JPY 120 to JPY 125 for FY 2027.