Japan Stock IR Daily – July 24, 2026 (30 reports)

• iFreeETF FANG+ (Code: 316A) announced its financial results for the Q2 2026 period (December 11, 2025, to June 10, 2026) on July 24, 2026.
• As of June 10, 2026, net assets totaled ¥60,162 million (compared to ¥60,566 million at the previous period-end), and the NAV per unit was ¥2,519.62 (compared to ¥2,413.65 at the previous period-end).
• The primary investment asset, beneficiary certificates of the parent fund, accounted for ¥60,157 million, representing 100.0% of the asset composition as of June 10, 2026.
• The total number of units outstanding at the end of the current period was 23,877 thousand units (compared to 25,093 thousand units at the previous period-end), with 5,637 thousand units created and 6,853 thousand units redeemed during the period.
• The distribution per unit for the 2026 June period was ¥0, indicating no distribution payment.

iFreeETF FANG+ experienced a slight decrease in net assets for the Q2 2026 period, while its NAV per unit increased. This may reflect the performance of its underlying index, the NYSE FANG+ Index. The continued absence of a distribution payment aligns with the fund’s operational policy, which investors typically monitor for any changes.

• iFreeETF FANG+ Gold (Code: 521A) announced its financial results for the Q2 2026 (March 9, 2026 to June 10, 2026) on July 24, 2026.
• Net assets at the end of the period stood at ¥8,806 million, with a net asset value per unit of ¥1,874.09.
• Major investment assets amounted to ¥6,835 million (77.6% of total assets), while cash, deposits, and other assets (net of liabilities) were ¥1,971 million (22.4%).
• Outstanding units at the end of the period totaled 4,699 thousand units, following 5,574 thousand units created and 875 thousand units redeemed during the period.
• No distributions were made during the period, with the distribution per unit recorded as ¥0.

The Q2 2026 results for iFreeETF FANG+ Gold indicate net assets of ¥8,806 million and a net asset value per unit of ¥1,874.09. The asset allocation, with major investment assets comprising 77.6% and cash/other assets making up 22.4%, suggests a balanced approach between core investments and liquidity. The significant net increase in outstanding units during the period, with creations far exceeding redemptions, may suggest growing investor interest in the fund.

• JAFCO Group announced its financial results for the first quarter of the fiscal year ending March 2027 (April 1, 2026 – June 30, 2026).
• For the first quarter, net sales were ¥3,073 million, operating profit was ¥627 million, ordinary profit was ¥786 million, and quarterly net income was ¥564 million.
• Earnings per share for the quarter were ¥10.74.
• Due to the transition from consolidated to non-consolidated (individual) financial statements from the third quarter of the fiscal year ended March 2026, as announced on January 7, 2026, no year-on-year comparison or figures for the first quarter of the fiscal year ended March 2026 are provided for management performance.
• During the first quarter, there was one new IPO of an investee company in venture investment and one M&A exit in buyout investment.
• Capital gains trended below the level of the previous fiscal year.
• The dividend forecast for FY2027 (expected) is ¥66.50 (minimum) for the interim, ¥66.50 (minimum) for the year-end, totaling ¥133.00 (minimum).

JAFCO Group’s Q1 FY2027 results are notable for the absence of year-on-year comparisons, which is a direct consequence of its transition to non-consolidated financial reporting. The newly reported sales and profit figures establish a new baseline for evaluating future performance. While there were new IPOs and M&A exits, the reported decline in capital gains compared to the previous fiscal year may be worth monitoring as the company continues its operations under the new reporting structure.

• Mobile Factory Co., Ltd. announced its consolidated financial results for the second quarter (interim period) of the fiscal year ending December 2026.
• Net sales were ¥1,686 million (up 1.8% year-on-year), EBITDA was ¥561 million (up 2.5%), operating profit was ¥561 million (up 2.5%), ordinary profit was ¥562 million (up 2.6%), and net income attributable to owners of parent was ¥387 million (up 0.4%).
• The Mobile Game Business recorded net sales of ¥1,568 million (up 2.7% year-on-year) and segment profit of ¥475 million (up 4.7%). The Content Business saw net sales of ¥117 million (down 9.2%) and segment profit of ¥88 million (down 9.1%).
• The full-year consolidated earnings forecast for the fiscal year ending December 2026 remains unchanged from the latest public announcement, projecting net sales of ¥3,500 million (up 2.1% year-on-year), operating profit of ¥1,170 million (up 4.3%), and net income attributable to owners of parent of ¥819 million (up 67.7%).
• The projected annual dividend is ¥51.00 per share (interim ¥25.00, year-end ¥26.00), with no revision from the latest public announcement.

Mobile Factory’s interim results show a slight increase in net sales and profits compared to the previous year, primarily driven by the Mobile Game Business. New product launches and reduced platform fees appear to have contributed positively to profitability. The reaffirmation of full-year earnings and dividend forecasts may suggest a stable outlook for the company’s performance.

• Nihon Dengi announced its consolidated financial results for the first quarter of the fiscal year ending March 2027.
• Consolidated net sales reached ¥8.696 billion, marking a 3.2% increase year-on-year.
• Operating profit was ¥1.756 billion, up 39.4% from the prior year’s first quarter.
• Ordinary profit grew by 41.2% to ¥1.911 billion, and profit attributable to owners of parent increased by 39.3% to ¥1.298 billion.
• The Air Conditioning Instrumentation business recorded ¥14.776 billion in orders received (up 30.7%) and ¥7.667 billion in sales (up 1.6%). Segment profit was ¥2.829 billion (up 13.9%), primarily driven by increased existing projects for factories and data centers.
• The Industrial Systems business reported ¥1.195 billion in orders received (up 32.0%), ¥1.028 billion in sales (up 17.1%), and ¥209 million in segment profit (up 96.4%).
• The consolidated full-year earnings forecast for the fiscal year ending March 2027 remains unchanged from the figures announced on May 7, 2026.

Nihon Dengi’s Q1 FY2027 results show significant profit growth alongside increased sales, which may suggest improved operational efficiency. The substantial year-on-year increase in total orders received, particularly in both key business segments, could indicate a healthy pipeline for future revenues. Investors might find it noteworthy that the full-year forecast has been maintained despite the strong Q1 performance.

• Japan Pure Chemical Co., Ltd. (4973) announced its financial results for the first quarter of the fiscal year ending March 2027 (April 1, 2026, to June 30, 2026).
• Net sales reached ¥6,152 million, marking an 80.6% increase compared to the same quarter of the previous fiscal year.
• Operating profit was ¥31 million (down 66.3% YoY), ordinary profit was ¥122 million (down 33.4% YoY), and quarterly net profit was ¥88 million (down 34.5% YoY).
• Total net assets amounted to ¥22,315 million, an increase of ¥4,251 million from the end of the previous fiscal year, primarily due to an increase in valuation differences on available-for-sale securities from the rise in market value of investment securities.
• The full-year earnings forecast for the fiscal year ending March 2027 and the annual dividend forecast of ¥230 per share remain unchanged from the announcement made on April 24, 2026.

Japan Pure Chemical’s Q1 FY2027 results show a significant increase in net sales, reportedly driven by robust demand for plating chemicals for printed circuit boards and semiconductor package boards, bolstered by expanded AI infrastructure investment. However, the decline in operating and ordinary profit despite strong sales may indicate shifts in cost structure or product mix, which investors may find worth monitoring. The increase in net assets, largely attributable to the valuation of investment securities, stands out, especially given the company’s stated policy of reducing cross-shareholdings.

• Tokyo Kaikan Co., Ltd. announced its unaudited non-consolidated financial results for the first quarter of the fiscal year ending March 2027 (April 1, 2026 – June 30, 2026) on July 24, 2026.
• For the first quarter, net sales reached ¥4,087 million, a 0.4% increase compared to the same period of the previous fiscal year.
• Operating profit was ¥383 million (a 5.1% decrease year-on-year), ordinary profit was ¥457 million (a 3.6% increase year-on-year), and net income for the quarter was ¥313 million (a 6.7% increase year-on-year).
• Basic earnings per share for the quarter were ¥94.95 (compared to ¥88.98 in the prior year’s first quarter).
• The full-year business forecast and the year-end dividend forecast of ¥50.00 per share remain unchanged from the most recently announced figures.
• Total assets increased by ¥415 million from the end of the previous fiscal year to ¥30,589 million, and net assets increased by ¥373 million to ¥13,504 million, resulting in an equity ratio of 44.1% (compared to 43.5% at the end of the previous fiscal year).

Tokyo Kaikan’s Q1 FY2027 results show a slight increase in net sales, with notable growth in ordinary profit and net income, which could be a positive sign. The decline in operating profit, however, is attributed to increased expenses, including human resource investments, suggesting strategic spending under their new medium-term management plan aimed at strengthening organizational foundations and enhancing brand value. Investors might consider this a key aspect to monitor in subsequent reports, to see how these investments translate into future profitability.

• Nippon Seisen announced its consolidated financial results for the first quarter of the fiscal year ending March 2027 (April 1, 2026 – June 30, 2026).
• Consolidated net sales totaled ¥12,109 million, representing a 7.4% increase compared to the same period of the previous year.
• Consolidated operating profit reached ¥804 million, an increase of 72.9% year-on-year.
• Profit attributable to owners of parent was ¥635 million, marking a 101.1% increase from the prior year’s first quarter.
• Sales of ultra-precision gas filters (NASclean®) for the semiconductor industry performed strongly, reaching ¥1,831 million, a 58.7% increase year-on-year.

Nippon Seisen’s Q1 FY2027 results show significant year-on-year growth across all key financial metrics, with semiconductor-related products being a primary driver. This performance may suggest a successful strategy in capitalizing on high-demand sectors. The balance between solid growth in existing segments and strong performance in emerging areas appears to be a key characteristic of the company’s current financial health, which investors might find noteworthy.

• On July 24, 2026, FDK Co., Ltd. announced a partial correction to its “Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 [Japanese GAAP]” initially released on April 28, 2026.
• The reason for the correction was an error in the description of the dividend situation.
• The correction specifically impacts “2. Dividends” in the summary information, where all fields for “Fiscal Year Ending March 2027 (Forecast)” related to annual dividends (1st quarter-end, 2nd quarter-end, 3rd quarter-end, year-end, total), total dividend amount, consolidated payout ratio, and consolidated dividend on equity ratio were changed from “0.00” to “―”.
• Corrected numerical data (XBRL) has also been submitted.

This correction pertains to a change in the dividend forecast description within the financial results, rather than an alteration to past dividend achievements or the consolidated business performance itself. The revision of the FY2027 March dividend forecast from a specific numerical value to “―” could be interpreted as the company adopting a more cautious stance regarding future dividend policies or performance outlook. Investors may wish to monitor future disclosures and the company’s ongoing developments.

• Seika Sangyo Co., Ltd. announced a planned change in its certified public accountants responsible for audit certification, in accordance with the Financial Instruments and Exchange Act.
• The effective date of the change is scheduled for October 1, 2026.
• Meiko Audit Corporation, the current accounting auditor (dissolving audit firm), is scheduled to merge with Fujimi Audit Corporation (surviving audit firm) on October 1, 2026.
• Following the merger, Fujimi Audit Corporation will become the entity providing audit certification for Seika Sangyo.
• The surviving audit firm, Fujimi Audit Corporation, is located at 4-4-3 Nihonbashi Muromachi, Chuo-ku, Tokyo, and its engagement partners are Tetsuro Shirasu and Norio Nakamura.

Changes in accounting auditors are a recurring event from a corporate governance perspective. This specific change is due to a merger between audit firms, and the engagement partners remain the same before and after the merger, which may suggest continuity in the audit structure. Investors might find it useful to monitor how this change in audit structure impacts the company’s operations and the perceived reliability of its disclosed information.

• Nagoya Railroad Co., Ltd. has decided to dissolve and liquidate its consolidated subsidiary, Meitetsu Hyakkaten Co., Ltd. (Meitetsu Department Store).
• Meitetsu Railroad will succeed the gift certificate business of Meitetsu Department Store through an absorption-type company split.
• Nagoya Railroad Co., Ltd. will absorb its consolidated subsidiary, Meitetsu Customer Service Co., Ltd. (MCS), through an absorption-type merger.
• Nagoya Railroad Co., Ltd. will waive loan claims totaling approximately JPY 11.52 billion against Meitetsu Department Store and approximately JPY 1.54 billion against MCS.
• These series of procedures will take effect on September 1, 2026.

This restructuring appears to be a consequence of the closure of Meitetsu Department Store’s main branch, aiming to streamline operations by consolidating specific services like gift certificates and customer services within the parent company. The substantial debt waivers for both subsidiaries could indicate a move to rationalize the group’s financial structure and potentially improve the long-term health of the parent company’s balance sheet by addressing underperforming assets. Investors may want to monitor the impact of these changes on Nagoya Railroad’s future earnings and operational efficiency.

• Sakurajima Futo announced its consolidated financial results for the first quarter of the fiscal year ending March 2027 (April 1, 2026, to June 30, 2026).
• Net sales totaled ¥988 million, representing a 4.7% decrease year-on-year. Operating profit was ¥51 million, a 44.1% decrease, and ordinary profit was ¥153 million, down 2.6%.
• Net profit attributable to owners of the parent company increased by 2.4% year-on-year to ¥105 million.
• By segment, the bulk cargo segment reported sales of ¥475 million, a 13.3% decrease, and an operating loss of ¥31 million. The liquid cargo segment saw sales increase by 5.3% to ¥368 million and operating profit rise by 0.7% to ¥149 million. The logistics warehouse segment recorded sales of ¥138 million, a 4.0% increase, and operating profit of ¥62 million, up 7.6%.
• The consolidated full-year earnings forecast for the fiscal year ending March 2027 and the annual dividend forecast (year-end ¥54.00, total ¥54.00) remain unchanged from the most recently published figures.

While net sales and operating profit declined year-on-year, the increase in net profit attributable to owners of the parent, potentially driven by lower corporate taxes, suggests a nuanced performance. The bulk cargo segment’s decrease in both revenue and profit impacted overall results, yet the liquid cargo and logistics warehouse segments demonstrated growth, which might indicate a diversified business strength. The unchanged full-year outlook could imply management’s expectation of recovery in subsequent quarters.

• Kyowa Kogyo announced the finalized financial results for the fiscal year ended April 2026 of its unlisted parent company, Y.M.G. Co., Ltd.
• Y.M.G.’s business is securities investment and operation, with a stated capital of 5 million yen.
• As of April 30, 2026, the balance sheet shows investment securities of 804,173 thousand yen, total current assets of 383,050 thousand yen, and total fixed assets of 879,742 thousand yen.
• For the period from May 1, 2025, to April 30, 2026, the income statement reported operating revenue of 43,128 thousand yen, ordinary income of 73,363 thousand yen, and net income of 71,086 thousand yen.
• Regarding major shareholders, Toru Yamaguchi holds 41,444 shares, representing 82.9% of the total outstanding shares, while Keiko Yamaguchi holds 10.1% (5,070 shares), and Masaki Yamaguchi holds 4.4% (2,191 shares).

The disclosure of an unlisted parent company’s financial results can enhance governance transparency for the listed subsidiary. Y.M.G.’s primary business being securities investment and operation, coupled with the significant proportion of investment securities on its balance sheet, suggests that its asset composition differs from that of the listed subsidiary’s core business. Furthermore, the shareholder structure indicates that a small number of individuals hold a large majority of the shares, which could be a point of interest for understanding the parent company’s governance and its relationship with the subsidiary.

• OMIKENSHI Co., Ltd. announced that its financial results for the fiscal year ended March 2026 will be released on August 7, 2026 (Friday).
• The company had previously announced the postponement of its FY2026 March earnings release on April 13, 2026.
• This new announcement indicates that a timeframe for the earnings release has been established.
• Concurrently with the determination of the earnings release date, the company has also revised its earnings forecast today, July 24, 2026.
• Investors are directed to refer to the separate announcement titled “Notice of Revision of Consolidated Earnings Forecast for the Fiscal Year Ending March 2026 and Recording of Non-Operating Income” for further details.

The finalization of the earnings release date for Omikenshi’s FY2026 March results, following an earlier postponement, may provide some clarity to investors. The concurrent revision of the earnings forecast suggests that the upcoming results and outlook will be closely scrutinized to assess the company’s performance. This development could help to reduce the period of uncertainty surrounding the company’s financial reporting.

• Shin-Etsu Chemical Co., Ltd. announced its consolidated financial results for the first quarter of the fiscal year ending March 2027 (April 1, 2026 – June 30, 2026).
• Consolidated net sales reached ¥662,424 million (up 5.4% year-on-year), operating profit was ¥173,798 million (up 4.2% year-on-year), and profit attributable to owners of parent was ¥130,829 million (up 3.5% year-on-year).
• By segment, the Electronic Materials business reported net sales of ¥279.2 billion (up 16% year-on-year) and operating profit of ¥101.9 billion (up 23% year-on-year). The Lifestyle and Environmental Materials business saw net sales of ¥227.7 billion (down 7% year-on-year) and operating profit of ¥34.8 billion (down 34% year-on-year).
• The full-year consolidated earnings forecast has been revised upwards, with net sales projected at ¥2,700,000 million (up 4.9% from previous forecast), profit attributable to owners of parent at ¥525,000 million (up 10.7% from previous forecast), and basic earnings per share at ¥286.00.
• The annual dividend forecast has also been revised, with the year-end dividend set at ¥58.00, bringing the total annual dividend to ¥116.00 including the interim dividend.

Shin-Etsu Chemical’s Q1 FY2027 results show a strong performance with increases across sales and profits compared to the prior year. The Electronic Materials segment appears to be a significant driver of this growth, which could indicate robust demand in related industries. The upward revision of the full-year earnings and annual dividend forecasts may reflect the company’s positive outlook on its future business environment.

• ENECHANGE Ltd. resolved at its Board of Directors meeting on July 24, 2026, to acquire all outstanding shares of Darwin Co., Ltd., making it a wholly-owned subsidiary.
• This acquisition aims to enter the business of “transforming the distributed energy infrastructure inspection field with AI/DX,” a part of ENECHANGE’s growth strategy.
• Darwin Co., Ltd. specializes in load test inspections of emergency generators and has consistently reported profits over the past three fiscal years (FY2024 to FY2026 ended March).
• The acquisition cost is 576 million yen for Darwin shares, with estimated incidental expenses of 36 million yen, totaling approximately 612 million yen.
• The share transfer is scheduled for July 31, 2026, and the impact of this acquisition on ENECHANGE’s consolidated results for the fiscal year ending March 2027 is currently under review.

This acquisition represents a concrete step in ENECHANGE’s strategy to expand into new business domains through M&A. The emergency generator inspection market, supported by statutory inspection obligations, is seen as a stable and recurring revenue stream. The potential for AI/DX integration to enhance productivity and the planned roll-up M&A strategy could be key drivers for mid-term corporate value. Furthermore, cross-selling opportunities with ENECHANGE’s existing power switching customer base may generate valuable synergies.

• Nikko resolved to change its shareholder benefit program and establish a new shareholder return policy at its Board of Directors meeting held on July 24, 2026.
• The revised shareholder benefit program will apply to shareholders holding 500 or more shares continuously for at least one year as of March 31, 2027. Previously, shareholders holding 100 or more shares were eligible.
• A new shareholder return policy was established, setting a minimum annual dividend per share of ¥42 for the fiscal years ending March 2027 and March 2028.
• The company’s medium-term management plan aims for an annual dividend per share of ¥40 for FY2027 and ¥50 for FY2028.
• The impact of these changes on consolidated earnings from FY2027 onwards is expected to be minor.

This announcement reflects the company’s approach to shareholder returns through both changes to its shareholder benefit program and the establishment of a specific dividend policy. The revisions to the shareholder benefit program suggest an intention to enhance returns for long-term shareholders holding a larger number of shares. Furthermore, setting a minimum dividend level could aim to improve dividend stability and predictability for investors.

• G-AIAI resolved to acquire Habi Inc. shares, making it a subsidiary, at a Board of Directors meeting on July 24, 2026, and signed a share transfer agreement on the same day.
• Habi Inc., along with its subsidiaries Iris Co., Ltd. and Happiness Comes Co., Ltd., operates a total of 71 multi-functional facilities, including child development support and after-school day services, under the “Habi,” “Iris Club,” and “Dig Smile” brands across Japan.
• Following this acquisition, the total number of facilities operated by the G-AIAI Group is expected to increase from the current 192 to 263.
• G-AIAI will acquire 200 shares of Habi Inc., representing a 100% voting rights ownership. The acquisition cost is 3,250 million yen for common shares, with an estimated total of 3,335 million yen including various expenses.
• The share transfer execution date is scheduled for September 1, 2026.

G-AIAI Group is advancing its “AIAI Three-Care Zone” initiative, which integrates childcare, developmental support, and education. This acquisition is seen as a move to strengthen its developmental support services by gaining a nationwide network of facilities and specialized personnel. As M&A is a key strategy for G-AIAI’s growth, this transaction could be a step towards enhancing the group’s overall corporate value. The expansion to 263 operating facilities may suggest an aim for stronger business foundations and operational efficiencies.

• For the second quarter of the fiscal year ending December 2026, consolidated net sales increased by 21.2% year-on-year to ¥7,691 million.
• Operating profit was ¥518 million, representing a turnaround from a loss of ¥80 million in the same period of the previous year.
• Ordinary profit was ¥573 million, and net income attributable to owners of parent was ¥353 million, both marking a return to profitability from losses in the prior year’s interim period.
• Basic earnings per share for the interim period stood at ¥33.98.
• The interim dividend forecast for FY2026 is ¥15.00, with the full-year dividend forecast maintained at ¥30.00.
• The full-year consolidated performance forecast remains unrevised, projecting net sales of ¥15,000 million (up 10.1% year-on-year), operating profit of ¥1,100 million (up 86.8%), and net income attributable to owners of parent of ¥800 million (up 102.5%).

Ono Sokki’s Q2 FY2026 results show a significant year-on-year increase in net sales and a return to profitability across all key income metrics. The improved performance appears to be driven by robust demand in the measurement instruments segment, particularly for acoustic and vibration inspection equipment and automotive-related orders, as well as demand for updating existing facilities and regulatory compliance in the custom testing equipment and services segment. This positive trend is reflected in the unrevised full-year guidance, suggesting a sustained recovery that may warrant continued observation.

• Wellnet Co., Ltd. announced its “Substantive 30th Anniversary” since its rebranding and restart in July 1996.
• To commemorate this, the company will enhance its shareholder benefits for shareholders holding 100 shares or more as of the record date of June 30, 2026.
• The shareholder benefit will be an increase in “Payment Secretary” service points from the conventional 1,000 points to a total of 2,000 points, including 1,000 commemorative points.
• Notifications for shareholder benefits are scheduled to be sent out in early September 2026, enclosed with the notice of the 44th Ordinary General Meeting of Shareholders.
• The QR code for point redemption will be available from early September 2026 to October 30, 2026 (Friday), and the points will be valid for six months from the QR code scan date.

This announcement indicates Wellnet’s initiative to reward shareholders for its “Substantive 30th Anniversary” by doubling the points for its core “Payment Secretary” service. This move may enhance the attractiveness of its shareholder benefits and potentially boost the adoption of its “Payment Secretary” electronic money service. The emphasis on the “substantive founding” from its restart as a new business development company is also noteworthy, highlighting a significant corporate milestone.

• Jason Co., Ltd. announced a 7.7% increase in net sales and a 4.5% increase in operating profit for the first quarter of the fiscal year ending February 2027 compared to the prior year.
• Key drivers for the sales increase include strong sales of Jason’s original (PB) products, improved procurement conditions for JV products, and the addition of sales from subsidiary Sunmall Co., Ltd.
• Despite increased costs such as personnel expenses, rent, and Sunmall’s operating expenses, the increase in operating profit was attributed to an improved gross profit margin resulting from strengthened procurement of JV products.
• The “Shojinzawa Natural Water” private brand product maintained strong sales due to its combination of quality and price competitiveness, supported by a stable supply system.
• Regarding store strategy, the company maintains a basic policy of increasing the net number of stores while implementing scrap-and-build, with one existing store closure reported in the first quarter.

Jason’s Q1 FY2027 results indicate that strategies for private brand and JV products have been effective, leading to both revenue and profit growth. While subsidiary Sunmall contributed to sales, its ongoing efforts to restructure costs and create group synergies amid challenging conditions appear to be a focal point. The improvement in gross profit margin, which partially offset increased expenses, could suggest progress in enhancing the company’s profitability structure.

• RS Technologies Co., Ltd. (RSTECH) announced on July 24, 2026, that its Board of Directors resolved to terminate discussions regarding a capital alliance with Jiangxi Shengtai Precision Optics Co., Ltd. and will not proceed with the transaction.
• The discussions aimed to make Jiangxi Shengtai a consolidated subsidiary by acquiring a 51% stake through a third-party allotment via RSTECH’s consolidated subsidiary, RSPDH (Aiso Precision Components (Huizhou) Co., Ltd.), as initially announced on September 26, 2025.
• The reason for the termination is that, despite continuous discussions on various terms and conditions, including procedures related to tax incentives for the target company, the parties ultimately failed to reach an agreement.
• RSTECH states that the impact of this termination on its consolidated financial results for the fiscal year ending December 2026 will be minor.
• The company is currently reviewing its future business strategy for the RSTECH Group.

RSTECH’s decision to terminate capital alliance discussions with Jiangxi Shengtai indicates that complex negotiations, particularly regarding tax incentives and transaction terms, can be a significant hurdle in cross-border M&A. While the impact on the company’s FY2026 consolidated performance is deemed minor, investors may be interested in the details of the “future business strategy” that RSTECH is now considering. This development highlights the challenges companies can face when expanding internationally through acquisitions.

• Chugai Pharmaceutical has announced its consolidated financial results for the second quarter (interim period) of the fiscal year ending December 2026.
• Revenue was ¥663.3 billion (up 14.7% year-on-year), operating profit was ¥319.6 billion (up 16.9%), and interim profit attributable to owners of the parent was ¥231.7 billion (up 19.2%). (IFRS Basis)
• On a Core basis, revenue was ¥663.3 billion (up 14.7%), Core operating profit was ¥329.1 billion (up 21.0%), and Core interim profit was ¥238.4 billion (up 23.2%).
• Product sales reached ¥566.5 billion (up 10.8%), with domestic sales of Vabysmo, Polivy, Enspryng, Phesgo, Elevis, and Lunsumio increasing, and overseas sales seeing higher exports of Hemlibra to Roche and NEMLUVIO to Galderma.
• Other operating revenue amounted to ¥96.8 billion (up 44.5%), primarily due to a significant increase in upfront payments and royalty income related to Hemlibra and NEMLUVIO.
• The forecast for the full-year dividend for the fiscal year ending December 2026 is ¥132.00 per share, comprising an interim dividend of ¥66.00 and a year-end dividend of ¥66.00.
• The consolidated full-year forecast for the fiscal year ending December 2026 remains unchanged, projecting revenue of ¥1,345.0 billion (up 6.9% YoY), Core operating profit of ¥670.0 billion (up 7.5% YoY), and Core profit for the period of ¥485.0 billion (up 7.5% YoY).

The interim results show robust growth in both revenue and profit on an IFRS and Core basis, driven by strong sales of key products and increased upfront and royalty income. The company’s decision to maintain its full-year forecast suggests that current progress aligns with internal expectations. Investors may consider monitoring future sales mix and R&D expenditure trends to understand the company’s sustained growth trajectory.

• Technohorizon announced its consolidated financial results for the first quarter of the fiscal year ending March 2027 (April 1, 2026 – June 30, 2026).
• Net sales reached ¥13,334 million, marking a 27.4% increase compared to the same quarter of the previous fiscal year. Operating profit was ¥501 million, a significant improvement from ¥21 million in the prior year’s comparable quarter.
• Ordinary profit totaled ¥613 million (compared to a loss of ¥46 million in the previous year’s Q1), and net profit attributable to owners of parent was ¥444 million (compared to a loss of ¥138 million in the previous year’s Q1).
• The Imaging & IT business segment saw net sales of ¥10,645 million (+36.4% YoY) and operating profit of ¥530 million (+198.9% YoY), driven by growth in overseas operations.
• The Robotics business benefited from increased demand due to active AI-related investments, leading to increased production of optical units and new optical module launches for inspection devices, contributing to improved profit margins.

Technohorizon’s Q1 FY2027 results demonstrate robust growth in both revenue and profit, notably driven by its international expansion within the Imaging & IT segment and leveraging AI-related demand in the Robotics sector. The company’s strategic initiatives, including planned M&A in Indonesia and a forthcoming corporate name change, could be key factors to monitor for future business development. These developments may suggest a continued focus on global market penetration and leveraging advanced technologies for sustained growth.

• Chugai Ro Co., Ltd. announced its consolidated financial results for the first quarter of the fiscal year ending March 2027 (April 1, 2026 – June 30, 2026).
• Net sales were ¥6,119 million, representing a 3.6% decrease compared to the same period of the previous year.
• The company reported an operating loss of ¥209 million and an ordinary loss of ¥108 million, both narrowing from the previous year’s losses (operating loss of ¥371 million, ordinary loss of ¥252 million).
• Net loss attributable to owners of the parent was ¥74 million, a shift from a profit of ¥704 million in the prior year, primarily due to the absence of gains on sale of shares recorded in the previous year.
• Order intake decreased by 63.0% year-on-year to ¥7,383 million.
• The full-year consolidated earnings forecast and the annual dividend forecast (year-end ¥180, total ¥180) remain unchanged from the most recently published figures.

Chugai Ro’s Q1 FY2027 results show a decrease in net sales, but a notable reduction in operating and ordinary losses compared to the prior year, which could suggest improvements in operational efficiency. However, the absence of a one-off gain from share sales led to a net loss for the quarter. The significant decline in order intake is a factor worth monitoring as it may influence future revenue generation, and the company’s progress towards its full-year forecasts will be a key point of interest for investors.

• Bulldog Sauce Co., Ltd. announced its consolidated financial results for the first quarter of the fiscal year ending March 2027 (April 1, 2026 – June 30, 2026).
• Net sales for the quarter reached ¥3,711 million, representing a 0.4% increase compared to the same period in the previous year.
• Operating profit was ¥154 million, a 23.4% increase year-on-year.
• Ordinary profit significantly rose by 113.0% to ¥890 million, primarily due to gains on the sale of investment securities.
• Net profit attributable to owners of parent decreased by 65.9% to ¥601 million, as the prior year included extraordinary gains from asset sales.
• The full-year consolidated earnings forecast for FY2027 remains unchanged, projecting net sales of ¥15,200 million (up 3.5% year-on-year), operating profit of ¥620 million (up 1.1%), ordinary profit of ¥1,350 million (up 2.4%), and net profit attributable to owners of parent of ¥950 million (down 61.1%).

Bulldog Sauce’s Q1 results show a slight increase in net sales alongside a double-digit growth in operating profit, which may suggest an improvement in core business profitability. The substantial increase in ordinary profit appears to be significantly influenced by gains from the sale of investment securities. However, the notable decline in net profit attributable to owners of parent should be viewed in the context of the prior year’s extraordinary gains, making a direct comparison between periods potentially misleading.

• For Q1 FY2027, consolidated operating revenue was ¥9,496 million, marking a 40.5% increase year-over-year.
• Net profit attributable to parent company shareholders reached ¥3,398 million, a 55.5% increase compared to the same period last year.
• Net operating revenue was ¥9,381 million (+40.2% YoY), operating profit was ¥4,369 million (+81.3% YoY), and ordinary profit was ¥4,687 million (+74.0% YoY).
• Commission income totaled ¥3,136 million (+48.5% YoY), with brokerage commissions specifically reaching ¥2,113 million (+88.6% YoY).
• Total trading profit amounted to ¥5,337 million, with securities trading profit contributing ¥5,291 million (+32.6% YoY).

IwaiCosmo Holdings’ Q1 FY2027 results show significant year-over-year growth across key revenue metrics. This performance appears to be strongly influenced by favorable domestic and international stock market conditions, which positively impacted the securities sales division’s brokerage commissions and trading profits. The results underscore the substantial impact that market environments can have on the company’s financial performance.

• For Q3 FY2026, revenue was ¥1.175 billion, and operating loss was ¥65 million.
• The MRR business revenue increased by 7.5% YoY, with gross profit margin up 21.4% YoY, indicating steady expansion.
• Furusato Nozei business revenue decreased by 10.7% YoY, attributed to a temporary adjustment phase due to changes in market conditions.
• Revisions to the full-year forecast will be disclosed as needed, considering ongoing initiatives and expected subsidy inflows.
• MRR sales within the regional information distribution business segment have shown quarterly growth, with high-priced enterprise plans performing particularly well.
• Myplé Ho Chi Minh version has been released, launching both Vietnamese and Japanese versions, receiving positive feedback from local businesses.
• The “relationship population creation” business has seen its public-private collaboration projects fully operational, entering a monetization phase.

Ｇ－ＦＬＮ’s Q3 FY2026 earnings call highlighted the steady growth of its MRR business alongside a temporary adjustment in the Furusato Nozei segment. The strong performance of high-priced enterprise plans in the MRR business and the launch of Myplé Ho Chi Minh could contribute to strengthening future revenue streams. Conversely, the company’s response to changes in the Furusato Nozei system and its impact on performance warrant continued monitoring by investors.

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

• WHY HOW DO recorded an extraordinary loss of 32 million JPY from bond redemption in the fiscal year ended April 2026.
• The bond had a total face value of 500 million JPY and was issued at 465 million JPY (93 JPY per 100 JPY face value, with a redemption value of 100 JPY).
• Early redemption of the bond occurred on April 17, 2026, through an offset method using proceeds from the exercise of stock acquisition rights and the bond redemption claim.
• The omission of the bond redemption loss recognition was due to insufficient confirmation of the bond contract details and was identified during the auditing firm’s review process for the Annual Securities Report.
• Consequent to this correction, the “Consolidated Financial Results for the Fiscal Year Ended April 2026 (Japanese GAAP)” was amended, with 28,956 thousand JPY in current liabilities for bonds due within one year on the consolidated balance sheet and 32,460 thousand JPY as bond redemption loss in extraordinary expenses on the consolidated statement of income.
• This correction has no impact on the consolidated earnings forecast for the fiscal year ending April 2027.

This restatement, impacting historical financial figures and specifically an extraordinary expense, highlights the importance of thorough contract review processes within a company’s internal control framework. The discovery by the auditing firm underscores the role of external audits in ensuring financial reporting accuracy. While the company has stated no impact on future earnings forecasts, investors may monitor for any further updates regarding internal control enhancements.

• Maruhachi Securities announced preliminary financial results for the first quarter of the fiscal year ending March 2027 (April 1, 2026, to June 30, 2026) on July 24, 2026.
• Operating revenue reached ¥1.107 billion, marking a 51.7% increase compared to the same period in the previous year.
• Operating income was ¥320 million, showing a substantial increase of 274.9% year-on-year.
• Ordinary income stood at ¥567 million (+420.5% YoY), and net income for the quarter was ¥385 million (+314.9% YoY).
• These gains were primarily driven by an increase in stock brokerage commissions, supplemented by gains on sales of investment securities and dividend income in non-operating profit/loss.
• The official announcement of the financial results is scheduled for July 31, 2026.

Maruhachi Securities’ preliminary Q1 results indicate robust growth across key profitability metrics, with particularly high year-on-year increases in operating income, ordinary income, and net income. The primary driver identified is the rise in stock brokerage commissions, which highlights the significant impact of market conditions on financial instrument trading businesses. For investors, monitoring the ongoing market environment and its potential influence on the company’s future performance may be of interest.