Japan M&A Solution has rewritten its profit outlook without touching the top line. The company left its revenue forecast for the year ending October 2026 at ¥990 million, but raised operating profit to ¥178 million from ¥108 million, ordinary profit to ¥196 million from ¥129 million, and net income to ¥143 million from ¥109 million.
| Metric | Previous full-year forecast | Revised full-year forecast | First-half actual |
|---|---|---|---|
| Revenue | ¥990 million | ¥990 million | ¥526.936 million |
| Operating profit | ¥108 million | ¥178 million | ¥142.272 million |
| Ordinary profit | ¥129 million | ¥196 million | ¥159.913 million |
| Net income | ¥109 million | ¥143 million | ¥127.063 million |
That gap between unchanged sales and much fatter profits is the point. Management said the first half was lifted by the first completed deal in its fund business, which it described as a large, high-margin transaction, and by full-scale use of its in-house "AI longlist creation system", which it says improved buyer matching and cut referral fees and other outside costs.
The first-half numbers make the reset easier to understand. For the six months to April 30, revenue rose 41.2% from a year earlier to ¥526.936 million, while operating profit reached ¥142.272 million, ordinary profit ¥159.913 million, and net income ¥127.063 million. In the guidance revision notice, the company said it had already exceeded its previous full-year profit targets by the end of the second quarter. It also said gross profit margin improved from 27.9% in the previous business year to 35.3% in the first quarter and 50.5% in the second quarter, or 45.7% for the first half.
The company is effectively arguing that this is a mix-and-cost story, not a revenue surprise. Its half-year earnings release shows advisory contracts rose to 263 from 225 and completed deals increased to 44 from 41, while the number of M&A advisers increased by four from the end of the prior-year interim period to 37. But the sharper swing came from profitability: gross profit expanded while selling, general and administrative expenses were held down, even as management said it kept spending on system development and infrastructure.
There is still a second-half caveat. Japan M&A Solution said it is only halfway through the year and is still allowing for changes in the business environment and other uncertainties when setting the revised forecast. Separately, it also introduced a year-end dividend forecast of ¥10 a share, up from zero, saying its business foundation had stabilized enough to strengthen shareholder returns.