En inc.'s net profit attributable to owners of the parent rose 161.0% to ¥4.57bn in the six months to September 30, 2026, but the driver was a one-off. The company booked a ¥4.88bn gain on affiliate shares from the engage sale, which closed on April 1, 2026 and is explained here as a source of current results, not a new deal.
What the sale was. En sold 851 of 1,000 shares (85.1%) in the engage subsidiary, which runs the engage job site and recruiting tool, to Kakaku.com for ¥5.15bn and kept 14.9%. The loss of engage cut sales 10.5% to ¥26.5bn. Excluding engage, sales rose ¥720mn, according to the company's results presentation.
Two halves of the hiring business. In media, the company said the recovery seen in the first quarter did not continue in the second, citing a slowdown in the job-advertising market. Media sales fell 7.5% excluding engage, to ¥14.29bn, and operating profit fell 15.6% to ¥3.52bn. In the agent segment, more placements at higher salaries, led by en world, lifted sales 12.2% to ¥6.09bn and operating profit 34.4% to ¥1.16bn. That is one company's view, not a read on national hiring or wages.
Operating profit. It rose 16.0% to ¥2.75bn, which the company ties to lower payroll and advertising costs after the engage handover. The company left full-year guidance unchanged: sales of ¥50bn and operating profit of ¥2.8bn, so the half-year figure already stands at 98.0% of the profit guide. En said sales recovery, mainly in media, will take time.
A mismatch in the write-downs. The company's special-loss notice and results commentary cite a ¥638mn software write-off and a ¥235mn investment securities valuation loss. The income statement in the half-year report lists a ¥420mn valuation loss. Earlier Tokyo Brief coverage is linked here: Earlier Tokyo Brief coverage.