Japan Stock IR Daily – July 16, 2026 (25 reports)

• G-OXIDE achieved an operating profit from the first quarter of FY2027, driven by robust demand in its semiconductor business and company-wide profitability improvements.
• Traditionally, performance tended to be concentrated in the fourth quarter, but diversification of the business portfolio and strengthening of the revenue base have led to relatively smaller quarterly revenue fluctuations.
• A portion of sales for data center Faraday rotators was deferred from Q1 to Q2 due to material delivery delays, but is expected to be recorded in Q2, with a solid outlook for H1 new business area sales.
• The 302 nm laser for quantum computers, announced in March 2026, has received significant interest from domestic and international customers and partners, with evaluation and implementation discussions underway for multiple projects.
• R&D expenses in Q1 were approximately JPY 44 million below forecast, attributed to project progress, timing of expense recognition, and reclassification of some costs to manufacturing expenses due to mass production transition, not intentional suppression.

G-OXIDE’s achievement of an operating profit from the first quarter of FY2027 as planned may suggest a shift in its traditional revenue structure. The strong performance of the semiconductor business and the expected recording of deferred Faraday rotator sales in Q2 indicate that progress in new business areas will be closely watched. Furthermore, the high market interest in the quantum computing laser could position it as a future growth driver for the company.

Disclaimer: This article is for informational purposes only and does not constitute investment advice.

• Unisia Holdings Co., Ltd. announced its consolidated financial results for the second quarter (cumulative) of the fiscal year ending November 2026.
• Revenue reached JPY 17,859 million (up 73.4% year-on-year), operating income before goodwill amortization was JPY 1,109 million (up 63.8%), and operating income was JPY 813 million (up 20.2%).
• Revenue from the flagship “Kushikatsu Tanaka” business was JPY 9,964 million, while the “Pisola” business, which joined the group through M&A, contributed JPY 6,346 million.
• Kushikatsu Tanaka’s sales were driven by its “Mugen Kushi” series, and Pisola saw sales growth with the opening of 9 new stores.
• The full-year consolidated earnings forecast was revised upwards, with revenue projected at JPY 36,400 million (up 0.7% from the initial forecast), and all profit stages also revised upward.

Unisia HD’s Q2 results show significant revenue growth, likely driven by strong existing store sales in the Kushikatsu Tanaka segment and substantial contributions from the Pisola business acquired through M&A. Despite incurring goodwill amortization and temporary M&A-related costs, the upward revision of the full-year earnings forecast could indicate management’s confidence in future business performance. The impact of new brand strategies and store expansion plans on future growth will be worth monitoring.

Disclaimer: This article is for informational purposes only and does not constitute investment advice.

• HORII FOOD SERVICE reported for the second quarter of FY2026 (December 2025 – May 2026) cumulative results: Net sales of ¥3,056 million (116.1% YoY), Operating profit of ¥345 million (156.4% YoY), Ordinary profit of ¥340 million (158.6% YoY), and Net profit attributable to owners of parent of ¥286 million (127.1% YoY).
• The cumulative operating profit reached 81.2% and ordinary profit reached 83.7% of the full-year forecast.
• The consolidated performance forecast for the interim period of FY22026 was revised upwards: Net sales from ¥2,786 million to ¥3,056 million, Operating profit from ¥252 million to ¥345 million, Ordinary profit from ¥242 million to ¥340 million, and Net profit attributable to owners of parent from ¥242 million to ¥286 million.
• Reasons for the upward revision include strong reservation acquisition during peak seasons, efficient store operations through DX promotion, strong performance of new inbound-focused formats, existing new stores and rebranded stores, and cost optimization through menu changes and price reviews.
• Domestic business recorded increased revenue and profit year-on-year (Net sales ¥2,917 million, Operating profit ¥298 million), while the inbound business contributed net sales of ¥139 million and operating profit of ¥46 million, all of which are net increases as there was no inbound business in the previous period.
• HORII FOOD SERVICE acquired Sushimasu Foods Co., Ltd. as a wholly owned subsidiary on June 1, 2026, for ¥380 million, aiming to supplement its West Japan and prepared food (Chusoku) segments and optimize its business portfolio.

HORII FOOD’s Q2 FY2026 results show significant year-over-year growth in both revenue and profit, indicating strong performance from existing businesses and the success of new initiatives. The high progress rate towards the full-year forecast suggests effective execution of its growth strategy, particularly through DX promotion, rebranding efforts to improve profitability, and the successful launch of its inbound business. The acquisition of Sushimasu Foods further expands its business domains, which may suggest a strategic move towards a more diversified portfolio and enhanced future growth potential.

• Ichiyoshi Securities Co., Ltd. announced its preliminary consolidated financial results for the first quarter of the fiscal year ending March 2027 on July 16, 2026.
• For the first quarter of FY2027 (April 1, 2026 – June 30, 2026), the preliminary consolidated results are as follows:
• Operating Revenue: ¥7,607 million (up 64.4% year-on-year)
• Operating Income: ¥2,482 million (up 553.3% year-on-year)
• Ordinary Income: ¥2,502 million (up 523.5% year-on-year)
• Net Income Attributable to Parent Company: ¥1,683 million (up 644.5% year-on-year)
• Earnings Per Share (Q1): ¥52.34 (compared to ¥7.10 in the previous year’s Q1)
• The significant increase in revenue and profits compared to the previous year’s first quarter is primarily attributed to the steady accumulation of fund wrap and investment trust balances, leading to an increase in other fees from beneficiary certificates.
• These factors also contributed to an improved cost coverage ratio and a further shift towards a “stock-type business model.”
• The official announcement is scheduled for July 30, 2026, and the preliminary figures may differ from the actual results.

These preliminary results suggest that Ichiyoshi’s strategic shift towards a “stock-type business model” is significantly impacting its financial performance. The growth in fund wrap and investment trust balances appears to be a key driver of increased revenue, potentially indicating a successful expansion of stable revenue sources. Investors may want to monitor the detailed breakdown of revenue and segmental performance in the official announcement for further insights.

• Paraca Co., Ltd. has revised its full-year earnings forecast for the fiscal year ending September 2026.
• The revised forecast shows an upward adjustment for Net Sales to ¥18.7 billion (up ¥100 million, +0.5% from previous) and Profit attributable to owners of parent to ¥2.277 billion (up ¥187 million, +8.9% from previous).
• Conversely, Operating Profit is revised downward to ¥3.113 billion (down ¥317 million, △9.2% from previous) and Ordinary Profit to ¥2.759 billion (down ¥281 million, △9.2% from previous).
• The primary reason for the earnings revision is the recognition of an extraordinary gain of approximately ¥870 million from the transfer of a fixed asset held in Sapporo City.
• The decrease in Operating Profit and Ordinary Profit is attributed to upfront costs for newly opened parking lots and the impact of heavy snowfall during winter.
• The dividend forecast has also been revised, increasing the year-end dividend for the fiscal year ending September 2026 to ¥72 per share (up ¥2 from the previous forecast).

Paraca’s announcement highlights a mixed revision in its full-year outlook, with net income benefiting from a one-time extraordinary gain from asset sales, while core operating and ordinary profits are revised downwards. The increased dividend forecast, aligned with the upward revision in net income, could be viewed as a commitment to shareholder returns. Investors may want to monitor the underlying profitability of the core business, as reflected in the operating and ordinary profit figures, moving forward.

• Ikuyo Co., Ltd. has announced the finalized details of its shareholder benefit program, offering Bitcoin (BTC), following its initial announcement on May 27, 2026.
• Eligible shareholders are those recorded in the shareholder registry as of March 31, 2026, and continuously holding 500 or more shares until June 30, 2026.
• The shareholder benefit consists of a lottery for a total of JPY 10 million worth of Bitcoin (BTC), with prizes including JPY 100,000 (10 winners), JPY 30,000 (100 winners), and JPY 10,000 (600 winners).
• Application requires opening an account with FINX JCrypto Co., Ltd.’s crypto asset exchange “Coin Estate” (existing account holders also need to input a new shareholder benefit code), followed by entering the code and agreeing to terms via the “Shareholder Benefit” page.
• Key dates include the mailing of guidance letters by the end of July 2026, an application period from August 3 to September 18, 2026, the distribution rate determination on September 28, 2026, the lottery on September 29, 2026, and distribution completion on September 30, 2026.

Ikuyo’s decision to offer Bitcoin as a shareholder benefit distinguishes it from conventional programs and may attract a different demographic of investors. While this approach could signify a forward-thinking stance on digital assets, potential participants should be mindful of the inherent volatility of cryptocurrency prices and the procedural requirements for account setup. The detailed timeline and application process provided offer clarity for eligible shareholders to manage their participation.

• Shinwa announced the expansion of its shareholder benefit program, “Shinwa Premium Club,” to include a broader range of gift options.
• Effective from the end of September 2026, “electronic money” will be added as a new exchange option for shareholder points.
• The expansion is stated to be a response to strong shareholder requests for more choices in point utilization, aiming to enhance convenience.
• The program applies to shareholders listed on the company’s shareholder register as of September 30, 2026, holding 10 units (1,000 shares) or more.
• Existing product categories, including gourmet foods, home appliances, and experience gifts, totaling over 5,000 items, will remain available.
• Shareholder benefit points are awarded based on the number of shares held and continuous holding period, with 1 point approximately equivalent to 1 yen.

This expansion of shareholder benefits, directly addressing shareholder feedback, may suggest the company’s commitment to enhancing shareholder returns and convenience. The addition of electronic money as an exchange option could offer shareholders greater flexibility and practical utility in redeeming their points. This move, combining a wide array of existing products with the practicality of electronic money, might be perceived as an effort to increase the overall attractiveness of Shinwa’s shareholder benefit program.

• Super Tool Co., Ltd. announced its consolidated financial results for the first quarter of the fiscal year ending March 2027.
• Net sales for the first quarter totaled ¥1,638 million, representing a 17.4% increase compared to the same period last year.
• Operating profit was ¥70 million (down 17.0% year-on-year), and ordinary profit was ¥77 million (down 16.9% year-on-year).
• Net loss attributable to owners of the parent was ¥67 million, compared to a net profit of ¥67 million in the prior-year quarter.
• The Metal Products segment recorded sales of ¥1,254 million (up 11.9% year-on-year) and segment profit of ¥151 million (down 10.5% year-on-year).
• The Environmental Business segment reported sales of ¥383 million (up 39.9% year-on-year) and segment profit of ¥27 million (down 9.0% year-on-year).
• Extraordinary losses were recognized in this quarter due to demolition costs of existing facilities related to the construction of a new factory.
• The full-year consolidated earnings forecast for the fiscal year ending March 2027 remains unchanged: net sales of ¥5,500 million (up 1.2% year-on-year), operating profit of ¥390 million (up 35.5% year-on-year), and net profit attributable to owners of the parent of ¥170 million (down 14.3% year-on-year).
• The projected year-end dividend is ¥30, with an annual dividend forecast of ¥60.

Super Tool’s Q1 FY2027 results show a significant increase in net sales but a decline in operating and ordinary profits, resulting in a net loss. This outcome appears to be influenced by extraordinary losses from new factory construction and the announced withdrawal from the environmental business. While the Metal Products segment saw sales growth, its profit decreased, suggesting that investors may want to monitor the company’s cost management and new product strategies moving forward.

• For the fiscal year ended May 2026, Heiwa Real Estate REIT (Ｒ－平和ＲＥ) reported operating revenue of ¥11,525 million, an increase of 7.7% compared to the previous period.
• Operating income reached ¥6,627 million (up 10.7%), ordinary income was ¥5,678 million (up 9.0%), and net income for the period was ¥5,677 million (up 9.0%).
• Earnings per unit were ¥4,536, and distribution per unit (excluding excess distribution) was ¥3,990.
• Total assets at the end of the period were ¥285,667 million, net assets were ¥134,650 million, and the equity ratio was 47.1%.
• The forecast for the November 2026 period projects operating revenue of ¥9,558 million and a distribution per unit of ¥4,030.

Heiwa Real Estate REIT’s results for the May 2026 period show growth across operating revenue and various profit metrics, suggesting a robust operational performance. The slight increase in distribution per unit to ¥3,990 may be viewed positively by investors. However, the projected decrease in operating revenue for the November 2026 period warrants attention, as the factors behind this outlook could be of interest to market observers.

• Komehyo Holdings Co., Ltd. resolved at its Board of Directors meeting on July 16, 2026, to acquire 100% of the issued shares of Garagebank Co., Ltd., making it a wholly-owned subsidiary.
• The acquisition involves 467,864 shares, with a total approximate cost of JPY 1,680,000,000, comprising JPY 1,600,000,000 for Garagebank shares and JPY 80,000,000 for advisory fees and other expenses.
• Garagebank Co., Ltd. specializes in the development and operation of the smartphone application “cashari / カシャリ,” which facilitates seamless asset appraisal and monetization through a leaseback system.
• The share transfer execution date is tentatively scheduled for July 29, 2026, at which point Garagebank is expected to become a consolidated subsidiary of Komehyo Holdings.
• Garagebank’s financial performance over the past three fiscal years (December 2023 to December 2025) shows increasing revenue but consistent operating losses, ordinary losses, and net losses attributable to parent company.

This acquisition appears to be part of Komehyo Holdings’ long-term growth strategy, aiming to bolster its competitiveness in the increasingly intense reuse industry. The integration of Garagebank’s technological advantages, such as its “cashari” app, with Komehyo’s established value chain could potentially revitalize procurement and distribution cycles, attract new customer segments, and foster innovative business models. While Garagebank currently reports losses, the synergy with Komehyo’s management resources may lead to future profit improvements and increased corporate value.

• Nippon Prologis REIT (Code: 3283) announced its financial results for the 2026 May fiscal period (December 1, 2025 – May 31, 2026).
• Operating revenue for the period was ¥33,710 million (down 3.9% from the previous period), operating income was ¥15,971 million (down 5.1%), ordinary income was ¥14,395 million (down 5.8%), and net income was ¥14,395 million (down 6.2%).
• Distribution per unit (DPU), including excess distribution, was ¥1,928. DPU excluding excess distribution was ¥1,716, and excess distribution per unit was ¥212.
• Total assets at the end of the period were ¥895,195 million, net assets were ¥496,609 million, and the equity ratio was 55.5%.
• Forecasts for the 2026 November period and 2027 May period were also disclosed, projecting DPU (including excess distribution) of ¥1,938 and ¥1,940 respectively.

R-Prologis’s FY2026 May results show a decline in key revenue and profit metrics compared to the previous period. However, the distribution per unit, including excess distribution, increased from the prior period, suggesting a continued commitment to investor returns. The forecasts for the upcoming periods indicate a slight increase in DPU, which may be worth monitoring by investors.

• Vitabrid Japan Inc. resolved to introduce a shareholder benefit program on July 16, 2026.
• Eligible shareholders are those registered in the shareholder registry as of the end of February each year, holding 100 or more shares continuously for at least three months.
• The benefits consist of points (1 point = 1 JPY equivalent) usable on the company’s EC site, ranging from 2,500 to 75,000 points, depending on the number of shares held and the continuous holding period.
• Point codes will be dispatched around the end of May each year.
• For the initial year of the program, a special benefit will be offered to shareholders holding 100 or more shares as of August 31, 2026. This special benefit will award points based on shares held, regardless of continuous holding period, with point codes dispatched around early November 2026, resulting in two shareholder benefit distributions during the fiscal year ending February 2027.

The introduction of this shareholder benefit program is stated to aim for the expansion of the shareholder base and the promotion of mid- to long-term stock ownership. By offering points usable on its EC site, the company may intend to provide shareholders with an opportunity to experience its products and services, thereby deepening their understanding of its business. The special benefit for the inaugural year could also be seen as an effort to attract early shareholders and generate interest in the new program.

• Global Kids COMPANY announced an absorption merger between its wholly-owned subsidiaries, with Associé International Inc. as the surviving company and Associé Academy Inc. as the absorbed company.
• The effective date of the merger is scheduled for October 1, 2026.
• The merger’s objectives include reorganizing the “Associé” brand’s childcare support business within the group, strengthening the management foundation, improving the quality of childcare, optimizing administrative costs, and maximizing synergies.
• Post-merger, the surviving company (Associé International) will not change its trade name, representative, or capital, and will become a direct wholly-owned subsidiary of Global Kids COMPANY.
• The company states that the impact of this merger on its consolidated financial performance is minor, as it involves consolidated subsidiaries.

This merger appears to be a strategic move by Global Kids COMPANY to streamline its childcare support services and enhance specialization within the group, aligning with its “2030 Triple Trust” management strategy. The emphasis on improving childcare quality and optimizing administrative costs suggests a focus on long-term corporate value enhancement. Investors may want to monitor how this reorganized structure contributes to the group’s overall growth strategy going forward.

• G-ALINK Co., Ltd. resolved to partially change the contents of its shareholder benefit program (change in benefit items) at a Board of Directors meeting held on July 16, 2026.
• The shareholder benefit item will be changed from the conventional “QUO Card” to “Digital Gift®” provided by Digital Plus Co., Ltd.
• Digital Gift® offers multiple options, including QUO Card Pay and Amazon Gift Card, allowing shareholders to choose according to their preferences.
• The program targets shareholders holding one unit (100 shares) or more as of the record date of February 28th and August 31st each year.
• The long-term holding preferential treatment program will continue to offer original QUO Cards featuring “Onsen Musume” character designs from the IP Production business’s regional revitalization project.

This change in shareholder benefit items appears to aim at improving shareholder convenience and enhancing investment appeal. The shift from traditional QUO Cards to Digital Gift® could provide more diverse usage options, potentially increasing shareholder satisfaction. Furthermore, the continuation of “Onsen Musume” QUO Cards for long-term holders suggests an effort to maintain existing shareholder engagement while adapting to the trend of digitalization.

• Sakura Saku Plus Co., Ltd. announced a correction to a portion of its “Consolidated Financial Results for the Third Quarter of the Fiscal Year Ending July 2026 [Japanese GAAP]” originally disclosed on June 12, 2026.
• The reason for the correction was the discovery of an additional ¥65 million that should have been recorded as statutory welfare expenses by a consolidated subsidiary.
• This additional amount consists of ¥63 million related to childcare facilities (cost of sales) and ¥2 million related to the head office (selling, general and administrative expenses).
• As a result of this correction, cost of sales increased by ¥63 million, selling, general and administrative expenses increased by ¥2 million, and other current liabilities increased by ¥65 million.
• This correction has no impact on the consolidated earnings forecast or dividend forecast for the fiscal year ending July 2026.

This correction pertains to an adjustment in expense recognition for statutory welfare costs, impacting specific accounts within the financial statements. The company explicitly states that this adjustment will not affect its consolidated earnings or dividend forecasts for the current fiscal year, which may be a key point for investors. While such corrections are made to ensure financial reporting accuracy, investors often scrutinize the nature and magnitude of such adjustments to understand their implications.

• TopCulture Co., Ltd. resolved on July 16, 2026, to implement a special shareholder benefit to commemorate its 40th anniversary on December 12, 2026.
• The special benefit involves an additional 1,000 yen worth of book cards, on top of the regular shareholder benefits.
• Eligible shareholders are those recorded in the company’s shareholder register as of October 31, 2026, with the benefit varying based on the number of shares held and the holding period.
• The benefit items are scheduled to be enclosed with the convocation notice for the General Meeting of Shareholders, to be dispatched around late December 2026.
• This 40th-anniversary shareholder benefit is a one-time implementation and is expected to have a minor impact on the company’s financial results for the October 2026 fiscal year.

This announcement suggests TopCulture’s emphasis on shareholder appreciation and returns. The provision of an additional special benefit alongside the regular one could be seen as an effort to incentivize both long-term and new investors. The company’s statement regarding the minor impact on its October 2026 fiscal year results might also be noteworthy, potentially indicating a stable financial position.

• Consolidated net sales for the fiscal year ended May 2026 were ¥20,381 million, a 1.4% decrease year-over-year.
• Consolidated operating income for the same period was ¥1,134 million, a 36.1% decrease year-over-year, and consolidated ordinary income was ¥1,002 million, a 40.4% decrease year-over-year.
• Net income attributable to owners of parent was ¥693 million, a 40.1% decrease year-over-year.
• The year-end dividend per share was ¥80, maintaining the annual dividend total of ¥80, same as the May 2025 fiscal year.
• For the fiscal year ending May 2027 (forecast), the company projects consolidated net sales of ¥21,000 million (3.0% increase YoY), operating income of ¥1,490 million (31.4% increase YoY), ordinary income of ¥1,270 million (26.7% increase YoY), and net income attributable to owners of parent of ¥910 million (31.3% increase YoY).

The results for the fiscal year ended May 2026 suggest that challenging conditions in the housing-related industry, including a decline in new housing starts and intensified price competition, impacted profitability. However, the company forecasts a return to increased revenue and profit for the fiscal year ending May 2027, which could indicate an expectation that strategic initiatives such as strengthening sales operations, developing construction contracts, and acquiring rental properties will contribute positively. The change in consolidation scope, with one new subsidiary and one exclusion, is also worth monitoring for its potential future impact.

• Marusan Securities announced preliminary financial results for the first quarter of the fiscal year ending March 2027 (April 1, 2026 – June 30, 2026) on July 16, 2026.
• Operating revenue was ¥6,251 million, marking a 43.2% increase from ¥4,366 million in the prior year’s same period.
• Operating income reached ¥1,748 million, a significant 342.6% increase from ¥395 million in the prior year’s same period.
• Ordinary income was ¥2,067 million, up 208.1% from ¥671 million in the prior year’s same period.
• Net income attributable to owners of parent for the quarter was ¥1,413 million, an increase of 2.1% from ¥1,384 million in the prior year’s same period.
• The company attributed the revenue and profit growth to increases in stock brokerage commissions, investment trust sales commissions, and trust fees.
• The official announcement for the Q1 FY2027 results is scheduled for Thursday, July 30, 2026.

These preliminary results suggest a robust start to the fiscal year for Marusan Securities, driven by strong performance in key revenue streams such as stock brokerage and investment trust-related fees. The substantial increase in operating income, in particular, could indicate enhanced operational efficiency or favorable market conditions during the quarter. Investors may look to the official announcement for further details on the underlying drivers of this growth and any insights into the company’s outlook.

• COTA Co., Ltd. has announced that the release date for its financial results for the fiscal year ended March 2026 will be July 30, 2026.
• This decision was made at a Board of Directors meeting held on July 16, 2026.
• The company had previously postponed the announcement of its financial results, as stated in its disclosure dated April 23, 2026, titled “Regarding the disclosure of Financial Results for the Fiscal Year Ended March 2026 exceeding 50 days after the fiscal year-end.”
• The representative director and president is Shigeharu Yoshida, and inquiries can be directed to Mitsuhiro Nishimura, Director of Public Relations and IR (Tel: 0774-44-4923).
• The company has extended an apology to shareholders, investors, and other stakeholders for any concerns caused.

The finalization of the fiscal year ended March 2026 financial results announcement date provides investors with a definite timeline for receiving crucial financial information. While delays in financial reporting can sometimes raise market concerns, the establishment of a specific date may help to alleviate uncertainty. Investors will likely now focus on the content of the upcoming earnings report to assess the company’s performance and outlook.

• INTER ACTION Corporation reported consolidated net sales of ¥1,120 million (down 17.9% year-on-year) and operating profit of ¥43 million (down 69.9% year-on-year) for the fourth quarter (three months) of the fiscal year ending May 2026.
• For the full fiscal year ending May 2026, consolidated net sales were ¥4,822 million (down 27.7% year-on-year), operating profit was ¥702 million (down 50.5% year-on-year), and net profit attributable to owners of the parent was ¥530 million (down 45.8% year-on-year).
• In the IoT-related business, a record-breaking large order of ¥2,278 million was secured from a major overseas customer in April 2026, with sales expected to be recorded from June 2026 to February 2027.
• While capital expenditure demand from key domestic customers in the IoT-related business remains subdued, the construction of production lines for image sensors for in-vehicle and robotics physical AI is being considered at a new customer factory.
• The Industry 4.0 Promotion business recorded net sales of ¥1,860 million (down 9.7% year-on-year) and segment profit of ¥102 million (down 61.3% year-on-year) for the full fiscal year ending May 2026.

INTER ACTION’s fiscal year ending May 2026 closed with decreased revenue and profit, yet the significant large order from a major overseas customer in the IoT-related business is expected to be a key driver for future performance recovery. While capital expenditure trends from domestic customers warrant ongoing monitoring, the mid-to-long term outlook could see a recovery in demand through the development of physical AI image sensor production lines. The substantial increase in sales and profit projected for the next fiscal year likely reflects the impact of this large order.

• Activia Properties Investment Corporation (Ｒ－ＡＰＩ) announced its financial results for the 29th fiscal period ended May 2026.
• Operating revenue increased by 7.2% year-on-year to ¥17,732 million, operating income rose by 13.8% to ¥9,740 million, ordinary income by 14.4% to ¥8,457 million, and net income by 14.4% to ¥8,456 million.
• Net income per unit was ¥3,558, and distribution per unit (excluding excess distributions) was ¥3,204.
• Total assets stood at ¥562,050 million, net assets at ¥268,869 million, and the equity ratio at 47.8%.
• Forecasts for the November 2026 and May 2027 periods indicate a projected distribution per unit (excluding excess distributions) of ¥3,278 for November 2026 and ¥3,279 for May 2027.
• The corporation divested “Kobe Kyukyoryuchi 25bankan” on May 28, 2026, and acquired “Nest Hotel Naha Kumoji” on May 29, 2026.

Ｒ－ＡＰＩ’s May 2026 financial results demonstrate robust performance with increases in operating revenue and profits compared to the previous period. The increase in distribution per unit could suggest a positive return to unitholders. The strategic portfolio adjustments, including a property divestment and acquisition, along with new sustainability targets, may indicate a proactive approach to long-term value creation.

• TOMOKU Co., Ltd. announced on July 16, 2026, the establishment of a new shareholder benefit program and a special commemorative benefit.
• The special commemorative benefit targets shareholders holding 300 or more shares as of the record date of August 31, 2026, offering a ¥10,000 QUO card around November 2026.
• For fiscal years beginning March 2027 and thereafter, the shareholder benefit program targets shareholders listed or recorded in the shareholder register as of March 31 each year, holding 300 or more shares continuously for at least one year.
• Shareholders with continuous holding for 1 year or more but less than 3 years will receive a ¥10,000 QUO card.
• Shareholders with continuous holding for 3 years or more will receive a ¥15,000 QUO card.

TOMOKU’s new shareholder benefit program aims to express gratitude to shareholders and encourage long-term stock ownership. The immediate introduction of a special commemorative benefit for August 2026 may attract new investors in the short term. Furthermore, the tiered benefits based on continuous holding period suggest an objective to foster a stable shareholder base, which could be a factor for investors to monitor.

• Hitotohito Holdings Co., Ltd. announced on July 16, 2026, a resolution by its Board of Directors to acquire all shares of SPD&Company Co., Ltd., making it a subsidiary.
• The acquisition involves 750 shares at a price of 3,030 million yen. Including advisory fees of 130 million yen, the total acquisition cost is 3,160 million yen.
• SPD&Company Co., Ltd. holds 100% of SPD Co., Ltd., which operates human resource services, primarily in the security industry.
• This acquisition aligns with Hitotohito HD’s M&A strategy: “① Complement existing businesses,” “② Expand service categories,” and “③ Expand business areas.”
• The company received notice from the Japan Fair Trade Commission on July 14, 2026, stating no cease and desist order would be issued and approving the shortened waiting period, following submission of the “Stock Acquisition Plan Notification” and “Request for Shortening of Prohibition Period” on June 29, 2026.

This acquisition appears to be a strategic move for Hitotohito HD to bolster its human resource services, particularly in the security sector, which possesses a stable revenue base. Integrating SPD Co., Ltd.’s substantial talent pool of over 3,000 personnel with Hitotohito HD’s existing resources could potentially enhance overall group utilization rates and revenue. Furthermore, leveraging SPD Co., Ltd.’s established business areas and client networks could lead to expanded presence across the Kanto region and increased opportunities for new client acquisition, suggesting a focus on long-term growth and stability.

• Meinan M&A Co., Ltd. resolved at a board meeting on July 16, 2026, to absorb its consolidated subsidiary, MAFO ROBA Inc.
• The purpose of this merger is to streamline business operations by integrating management resources through the absorption of MAFO ROBA Inc.
• The scheduled effective date of the merger is October 1, 2026.
• Prior to the merger, Meinan M&A decided to forgive the entire loan of ¥62 million owed by MAFO ROBA Inc., with the debt forgiveness scheduled for September 30, 2026.
• This merger qualifies as a simplified merger for Meinan M&A and a short-form merger for MAFO ROBA Inc., thus not requiring a shareholders’ meeting for approval.
• MAFO ROBA Inc. reported negative net assets of ¥25,871 thousand for the fiscal year ended September 2025, indicating an insolvency state.

Meinan M&A’s absorption merger of its consolidated subsidiary MAFO ROBA Inc. appears to be an effort to enhance overall group management efficiency. The debt forgiveness for the insolvent subsidiary, followed by the merger, may suggest a move to reorganize or restructure unprofitable segments within the group as part of a broader business reorientation. While the company states the impact on consolidated performance will be minor, this action could be a step towards strategic selection and concentration of businesses.

• Start Line Corporation announced a partial correction to its “Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2026 [Japanese GAAP],” originally disclosed on May 15, 2026.
• The reason for the correction was stated as errors in certain parts of the original disclosure.
• Key corrections include changes to the “Summary Information” regarding “Return on Equity (ROE),” and adjustments in the “Balance Sheet” (page 5 of supplementary materials) for “Accounts Payable” and “Other (Non-current Liabilities),” as well as revisions in “Notes to Financial Statements (Segment Information)” (page 10) for sales and depreciation expenses of “Employment Support Services for Persons with Disabilities” and “Other” segments.
• The ROE was revised for the fiscal year ended March 2026 from 8.3% to 33.2%, and for the fiscal year ended March 2025 from 5.4% to 21.8%.
• Balance sheet corrections as of March 31, 2025, include total current liabilities adjusted from ¥2,041,203 thousand to ¥2,044,904 thousand, and total non-current liabilities adjusted from ¥2,862,858 thousand to ¥2,859,156 thousand.
• In segment information for the fiscal year ended March 2026, external customer sales for the “Employment Support Services for Persons with Disabilities” segment were revised from ¥5,560,556 thousand to ¥5,556,513 thousand, and sales for the “Other” segment from ¥38,623 thousand to ¥42,665 thousand.

These corrections represent revisions to previously reported financial figures, with a notable upward adjustment in Return on Equity, which could be a significant point for investors to consider. The detailed changes in the balance sheet and segment information suggest that investors may wish to review the updated figures to understand any impact on the company’s financial position and segment-specific profitability.