SRE Holdings (2980) Q1 2026 earnings summary

Executive summary

• Q1 net sales were ¥4,240 million, down 16.3% year over year; operating profit fell 89.1% to ¥92 million and attributable profit was a ¥19 million loss.

• AI Cloud & Consulting (AICC) grew sales and profit, while Life & Property Solutions (L&P) sales declined and the segment swung to a loss.

• Healthcare and IT diversification continued through collaborations and new product development.

Financial highlights

• Net sales were ¥4,240 million versus ¥5,067 million; ordinary profit was ¥31 million versus ¥815 million.

• Operating profit was ¥92 million, down 89.1%; EBITDA was ¥281 million, down 72%.

• Attributable profit was a ¥19 million loss versus ¥497 million profit; comprehensive income was ¥10 million versus ¥535 million.

Outlook and guidance

• Full-year guidance remains unchanged: net sales ¥35.0 billion (+31.1%), operating profit ¥4.05 billion (+30.3%), EBITDA ¥4.842 billion (+27%), ordinary profit ¥3.65 billion (+26%) and attributable profit ¥2.22 billion (+30.8%).

• AICC sales and segment profit are forecast to grow 33% and 38%; L&P segment profit is forecast to rise 14%, with full-year profit above FY2024.

• AICC revenue and profit are expected to increase QoQ; L&P sales and profit are expected to concentrate in 2H, with operating losses in H1.

• FY2025 AUM target is ¥165.6 billion (+43%); forecast dividend is ¥18.0 per share.