Asukanet finished the year to April 2026 with a result that was better on profit than on revenue. Sales fell 2.2% to ¥7,102m, but operating profit rose 125.6% to ¥391m, ordinary profit rose 139.7% to ¥428m and net profit came in at ¥292m, versus a loss a year earlier. The company kept its annual dividend at ¥7.00 a share and is guiding for another step up in the current year, with sales of ¥7,860m, operating profit of ¥460m and net profit of ¥315m.
The split is mostly a segment story. In funeral, still the group’s largest business by sales, revenue fell to ¥3,301m and segment profit dropped to ¥632m as nationwide funeral volumes stayed weak, cutting memorial-photo processing and related supplies. tsunagoo, the company’s funeral-industry DX service, won contracts and saw better usage, but not enough to offset the softer core business. Photobooks did the opposite: sales were almost flat at ¥3,704m, but segment profit rose to ¥677m as price increases stuck, customer switching from retreating rivals helped, and production efficiency improved enough to offset higher materials and labour costs. Aerial display remained small, with ¥105m of sales and a ¥283m segment loss, yet the loss narrowed sharply from the prior year as the company cut spending and no longer faced the previous year’s inventory valuation and impairment hits, even after booking a loss tied to closing its technical development center.
| Metric | Year to Apr. 2026 | Current year outlook | Year ending Apr. 2029 target |
|---|---|---|---|
| Sales | ¥7,102m | ¥7,860m | ¥10bn |
| Operating profit | ¥391m | ¥460m | ¥800m |
| Net profit | ¥292m | ¥315m | Not disclosed |
| ROE | 5.5% | Not disclosed | 8% |
| Dividend per share | ¥7.00 | ¥7.00 | Not disclosed |
The new three-year plan asks investors to focus on whether that profit repair can turn into durable growth. By the year ending April 2029, Asukanet wants sales of ¥10bn, operating profit of ¥800m and ROE of 8%. Management says it will get there through four growth strategies, tighter coordination across sales, production, development and capital use, and M&A. The future-investment lane alone calls for 3 to 5 deals and cumulative M&A investment of ¥1bn.
For the current year, management is promising growth, but not evenly across the portfolio. It expects funeral to recover on higher funeral activity, wider use of tsunagoo and new services, photobook sales to rise even as segment profit eases under higher input costs and Tokyo office integration expenses, and aerial-display losses to narrow on license income and lower fixed costs after the center closure. That leaves the company with a clear test. Last year’s numbers show Asukanet can improve margins when photobooks execute and aerial-display losses ease. The midterm plan says the next job is to turn that cleaner profit line into reliable sales growth.