Quest Co (2332) Q2 2026 earnings summary

Executive summary

• Net sales rose 21.4% YoY to ¥8,785 million for the six months ended September 30, 2025, driven by semiconductor and financial-sector orders and the Sept Inc. consolidation.

• Operating profit fell 2.1% to ¥486 million, ordinary profit fell 4.5% to ¥511 million, and net profit attributable to owners of parent declined 5.8% to ¥335 million amid investment and one-time costs.

• FY2026 guidance remains unchanged; revenue reached 52.1% and operating profit 41.2% of the full-year forecasts.

Financial highlights

• Gross profit rose to ¥1,501 million from ¥1,358 million YoY.

• EBITDA was ¥611 million, down from ¥616 million; its margin was 7.0%, down from 8.5%.

• Total assets were ¥10,140 million, up ¥321 million from March 31, 2025, mainly from higher receivables and goodwill from the Sept Inc. acquisition; net assets were ¥7,308 million.

• Cash and cash equivalents decreased ¥936 million to ¥2,813 million.

Outlook and guidance

• FY2026 forecast maintained: net sales ¥16,860 million, operating profit ¥1,180 million, ordinary profit ¥1,240 million, net profit attributable to owners of parent ¥845 million, and basic EPS ¥157.32.

• Full-year EBITDA forecast is ¥1,439 million; target operating, ordinary-profit and EBITDA margins are 7.0%, 7.4% and 8.5%, respectively.

• Forecast includes 60th-anniversary expenses and one-time subsidiary-consolidation costs.