Quants Research Institute Holdings Inc (9552) Q1 2026 earnings summary

Executive summary

• Net sales for FY26/9 Q1 rose 11.8% year-over-year to ¥4,671.7 million, driven by strong consulting growth and steady M&A activity, but offset by flat M&A brokerage performance.

• Operating profit declined 31.2% year-over-year to ¥1,143.4 million due to upfront investments in consulting and delayed productivity recovery in M&A brokerage.

• Consulting business net sales surged 225.9% year-over-year, while M&A brokerage net sales dipped 0.4% year-over-year.

• Profit attributable to owners fell 35.7% year-over-year to ¥688.8 million, and EPS dropped to ¥12.74.

• Transitioned to a holding company structure and expanded into consulting and leasing businesses, with new subsidiaries established in October 2023 and January 2025.

Financial highlights

• Consolidated operating margin decreased to 24.5% from 39.7% a year ago.

• Consulting segment operating loss widened due to increased hiring and investment.

• M&A brokerage operating profit fell 29.0% year-over-year, with operating margin at 32.9%.

• Number of consultants increased to 159 (+269.8% YoY); number of M&A advisors at 378.

• Basic EPS: ¥12.74 (down from ¥18.30 year-over-year).

Outlook and guidance

• FY26/9 full-year net sales forecast at ¥22,184 million (+33.6% YoY), with operating profit of ¥5,993 million (+25.4% YoY).

• Full-year net profit forecast: ¥3,533 million (+28.6% YoY), with basic EPS of ¥65.38.

• Consulting business expected to more than double net sales to ¥3,800 million (+161.8% YoY).

• M&A brokerage net sales forecast at ¥18,000 million (+18.8% YoY), with 400–450 advisors and ~300 closed deals.

• Incubation business to contribute ¥384 million in net sales.