Japan Stock IR Daily – October 21, 2026 (16 reports)

• G-Reiwa AH announced its consolidated financial results for the second quarter (interim period) of the fiscal year ending March 2027.
• Net sales for the interim period amounted to 2,955 million yen (up 11.3% year-on-year).
• Operating income was 1,070 million yen (up 30.5%), ordinary income was 1,067 million yen (up 29.7%), and profit attributable to owners of parent was 713 million yen (up 26.5%).
• Diluted earnings per share for the interim period stood at 19.08 yen.
• The forecast for the full-year dividend for the fiscal year ending March 2027 is a total of 36.50 yen, comprising an interim dividend of 16.50 yen and a year-end dividend of 20.00 yen.
• Total assets were 3,948 million yen, net assets were 2,656 million yen, and the equity ratio was 66.0%.

G-Reiwa AH’s interim results for FY2027 show double-digit growth across all profit metrics, indicating a robust performance. This growth appears to be driven by improved operational efficiency in its consulting business and the expansion of its AI asset evaluation solution, “Miracle X.” The increase in the equity ratio also suggests a strengthening of the company’s financial stability, which may be a point of interest for investors.

• G-Livero announced on October 21, 2026, a partial correction to its “Q1 FY2026 Earnings Report [Japanese GAAP] (Consolidated).”
• The reason for the correction was the discovery of an error in part of the stated content.
• The correction pertains to “1. Qualitative Information on Quarterly Financial Results (1) Explanation of Business Performance” on page 2 of the attached earnings report.
• Specifically, the amount for “Operating Profit” for the cumulative first quarter of the consolidated fiscal year has been revised.
• The operating profit was originally stated as ¥538,607 thousand but has been corrected to ¥535,607 thousand.

This correction represents an adjustment to previously disclosed financial figures, which may be significant for investors assessing the accuracy of the company’s public statements. Given the revision to the operating profit, investors who had analyzed the company based on the uncorrected figures might need to re-evaluate their positions using the updated numbers. Such corrections can sometimes draw attention to a company’s internal controls and information management processes.

• NEXT FUNDS S&P 500 (Unhedged) Exchange Traded Fund (Code: 2633) announced its earnings report for the fiscal year ended September 2026 (March 11, 2026 – September 10, 2026) on October 21, 2026.
• Total net assets for the fiscal year ended September 2026 amounted to JPY 31,262 million, an increase from JPY 22,591 million in the previous fiscal period (ended March 2026).
• The number of issued units at the end of the current fiscal period reached 57,853 thousand units, up from 45,793 thousand units at the end of the previous fiscal period.
• The net asset value per 100 units was JPY 54,038, an increase from JPY 49,334 in the previous fiscal period.
• The dividend payment per 100 units was JPY 220.

This earnings report indicates that the NEXT FUNDS S&P 500 (Unhedged) ETF saw an increase in both net assets and issued units, alongside a rise in its net asset value, during the fiscal period ended September 2026. This trend may suggest that the performance of the S&P 500 index and investor inflows during the period contributed to the fund’s growth. The dividend payment also represents a key point of interest for investors.

• NEXT FUNDS S&P 500 (Yen-Hedged) Exchange Traded Fund (Code: 2634) announced its earnings report for the fiscal year ended September 2026 (March 11, 2026 – September 10, 2026) on October 21, 2026.
• As of the end of the current fiscal period (September 10, 2026), total net assets amounted to JPY 44,533 million, with primary invested assets in stocks totaling JPY 41,445 million (93.1% of net assets).
• The number of issued units at the end of the current fiscal period increased to 14,175 thousand units. This compares to 11,475 thousand units at the end of the previous fiscal period (March 10, 2026), with 8,880 thousand units created and 6,180 thousand units redeemed.
• The Net Asset Value (NAV) per 100 units at the end of the current fiscal period was JPY 314,159, an increase from JPY 284,216 at the end of the previous fiscal period.
• The dividend per 100 units was JPY 1,200, which is a decrease compared to JPY 1,500 in the previous fiscal period.

This earnings report details the operational performance of the NEXT FUNDS S&P 500 (Yen-Hedged) ETF for the fiscal year ended September 2026. The increase in net assets may reflect a combination of capital inflows into the fund and an appreciation in its underlying assets. The rise in issued units could indicate growing investor interest in this particular ETF.

• NEXT FUNDS S&P 500 Semiconductors & Semiconductor Equipment (Industry Group) 35% Capped Index Exchange Traded Fund (Code: 346A) announced its earnings report for the fiscal year ended September 2026 on October 21, 2026.
• Total net assets for the fiscal year ended September 2026 amounted to JPY 3,967 million, an increase from JPY 1,077 million at the end of the previous fiscal period (FY ended September 2025).
• The number of issued units at the end of the current fiscal period (as of September 10, 2026) was 810 thousand units, up from 390 thousand units at the end of the previous fiscal period.
• The Net Asset Value per 100 units for the fiscal year ended September 2026 was JPY 489,836.
• The dividend per 100 units for the fiscal year ended September 2026 was JPY 0.

This earnings report provides factual insights into the operational status of the NEXT FUNDS S&P 500 Semiconductors & Semiconductor Equipment ETF. The reported increase in net assets and outstanding units could suggest either investor inflows or an appreciation in the market value of its underlying assets. These figures, alongside the net asset value per unit, offer key data points for investors monitoring the fund’s performance.

• SANKYO acquired shares of A-gon Co., Ltd., making it a subsidiary as of September 30, 2026.
• On October 21, 2026, confirmation by the Japan Federation of Pachinko and Pachislot Machine Manufacturers (Nikko-kumiai) regarding A-gon’s status as a group company was completed.
• The acquisition aims to support A-gon’s business continuity and development, contributing to the strengthening of SANKYO Group’s business foundation and competitiveness.
• A-gon’s business activities include the planning, manufacturing, and sales of amusement machines, as well as amusement equipment and parts.
• SANKYO acquired 600 shares of A-gon, resulting in a 100.0% voting rights ownership.

SANKYO’s acquisition of A-gon, a pachinko machine manufacturer, signals a strategic move to enhance its product lineup across both pachinko and pachislot businesses within the group. This acquisition could potentially contribute to strengthening SANKYO Group’s competitiveness and increasing sales volumes over the medium to long term. While the IR states a minor impact on consolidated financial results, the future role and development of A-gon within the group’s strategy may warrant monitoring.

• SLD Co., Ltd. has released its Q2 FY2027 earnings presentation material.
• The document was provided under the filename “Collabo_Index”.
• The material includes contact information for IR inquiries.
• This document is intended for disclosure on the Tokyo Stock Exchange.

Earnings presentation materials are key documents for investors to understand a company’s performance, financial health, and future strategies on a quarterly basis. These presentations typically provide insights into operational progress and financial results, which are crucial for evaluating a company’s current standing and potential trajectory. Investors often focus on specific figures and strategic outlines presented within these materials.

• G-Wellness C’s Board of Directors resolved on October 21, 2026, to acquire all shares of Stress Check Co., Ltd., a new company to be established through a spin-off from SMS Co., Ltd.
• Following this stock acquisition, an absorption merger was also resolved on the same day, with G-Wellness C as the surviving company and Stress Check Co., Ltd. as the absorbed company.
• The planned execution date for the stock acquisition is December 1, 2026, and the effective date for the absorption merger is January 1, 2027.
• Stress Check Co., Ltd. will take over the stress check service business primarily targeting medical institutions and nursing care providers.
• G-Wellness C aims to strengthen its business foundation in the mental health domain and expand sales and enhance the value of “Growbase Mentally” by incorporating the acquired business’s customer base, sales/operational know-how, and specialized personnel.

This acquisition may strengthen G-Wellness C’s service delivery structure in the health management and mental health sectors, which are key areas of focus, potentially enhancing its competitiveness in the growing stress check service market. Integrating SMS’s customer base and expertise in the medical and nursing care sectors could lead to significant business synergy. The subsequent absorption merger is expected to streamline management resources and improve operational efficiency.

• Adjuvant Holdings Co., Ltd. (Code: 4929) has announced its consolidated financial results for the second quarter (interim period) of the fiscal year ending March 2027.
• Consolidated net sales for the interim period were ¥1,850 million, representing a 0.3% decrease compared to the same period of the previous year.
• Operating income amounted to ¥0 million (compared to an operating loss of ¥21 million in the prior year’s interim period), marking a return to profitability.
• Ordinary income reached ¥22 million (compared to an ordinary loss of ¥15 million in the prior year’s interim period), also turning profitable.
• Net income attributable to owners of parent was ¥32 million, an increase of 102.2% from the prior year’s interim period.
• Basic earnings per share for the interim period was ¥4.04.
• Sales of skincare products were ¥681 million (up 2.9% year-on-year), and sales of haircare products were ¥1,285 million (up 0.2% year-on-year).
• Domestic sales were ¥1,784 million (up 1.0% year-on-year), while overseas sales were ¥66 million (down 25.3% year-on-year).

Adjuvant HD’s Q2 FY2027 results show a noteworthy shift from losses to profitability in operating income, ordinary income, and net income attributable to owners of parent, despite a slight decrease in net sales. This turnaround appears to be driven by reductions in selling, general, and administrative expenses offsetting the minor sales decline. The introduction of new products and rebranding efforts via digital initiatives may also have played a role in mitigating the extent of the revenue decrease.

• G-Seiwa HD announced on October 21, 2026, the release of its Q1 FY2027 earnings presentation video and transcript.
• For Q1 FY2027, revenue was ¥2.1 billion (up 11.6% year-on-year), and adjusted operating profit was ¥0.33 billion (up 10.1% year-on-year).
• Existing businesses achieved organic revenue and profit growth, progressing as planned.
• The full-year earnings forecast was revised upwards, with revised revenue expected to be ¥11.0 billion (up 12.2% from original forecast) and adjusted operating profit ¥2.0 billion (up 11.1% from original forecast). This revision reflects the performance of three new M&A acquisitions (Daiei Parker, Hoan Doro Kikaku, Eishin Denki).
• The company has already executed five M&A deals in FY2027, all acquired within its investment discipline of “EV/EBITDA multiple of 5x or less.”
• Investment capacity as of August 31, 2026, was reported at ¥6.115 billion.

This announcement suggests G-Seiwa HD’s active pursuit of its M&A strategy. The upward revision to the full-year earnings forecast, incorporating recent M&A contributions, indicates the significance of M&A as a growth driver for the company. Furthermore, the reported substantial investment capacity may suggest continued M&A activities in the future.

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

• OBSYSTEM Co., Ltd. announced its consolidated financial results for the second quarter (interim period) of the fiscal year ending March 2027.
• In consolidated financial results (cumulative), net sales were ¥4,686 million (up 20.2% year-on-year), operating profit was ¥311 million (up 45.8%), ordinary profit was ¥332 million (up 43.6%), and net profit attributable to parent company shareholders was ¥291 million (up 36.2%).
• Segment sales by service line were: Financial Services at ¥2,341,965 thousand (up 30.1% year-on-year), Industrial Distribution at ¥1,326,303 thousand (up 15.4% year-on-year), and Social Public Services at ¥1,017,893 thousand (up 7.1% year-on-year).
• The full-year consolidated earnings forecast for the fiscal year ending March 2027 remains unchanged, projecting net sales of ¥10,000 million (up 15.5% year-on-year), operating profit of ¥835 million (up 24.2% year-on-year), and net profit attributable to parent company shareholders of ¥720 million (up 20.1% year-on-year).
• An interim dividend of ¥60.00 per share is planned, with a year-end dividend forecast of ¥65.00, totaling ¥125.00 for the full year.

OBSYSTEM’s interim financial results show significant double-digit growth across sales and all profit metrics, with operating profit notably surging by 45.8%. The robust performance in the Financial Services sector, which recorded the highest growth rate, may suggest successful capture of demand within this specific market segment. The reaffirmation of the full-year earnings forecast could indicate the company’s confidence in its current progress aligned with its strategic plans.

• Japan PC Service reported consolidated net sales of ¥8,086 million for the fiscal year ended August 2026, marking a ¥1,258 million increase from the previous year and a new record high.
• Operating income for the period was ¥72 million, a decrease of ¥26 million year-on-year, primarily due to temporary promotional investments totaling ¥130 million for future customer acquisition strategies.
• Net loss attributable to owners of the parent was ¥6 million, a decline of ¥28 million from the ¥22 million profit recorded in the previous year.
• The increase in sales was mainly driven by “Corporate DX Support,” which assists with everything from equipment introduction to operation, with “Hybrid-type Contracts” for POS register bulk introductions being a significant contributor.
• For the fiscal year ending August 2027, the company forecasts net sales of ¥8,500 million and operating income of ¥100 million, projecting both revenue and profit growth.

The FY2026 results indicate that while sales reached a new record, one-off promotional investments impacted profitability. The strong growth in Corporate DX Support, particularly through hybrid-type contracts, appears to be a key driver for revenue expansion. Investors might focus on the company’s commitment to shift its investment strategy towards sales conversion in FY2027, as this could be crucial for improving profitability and achieving the projected growth.

• R-TOSHI FUND (8953) announced its operational status for the fiscal period ended August 2026 (March 1, 2026, to August 31, 2026).
• Operating revenue was ¥51,508 million (down 1.1% from previous period), operating income was ¥25,890 million (down 2.9%), and ordinary income and net income were ¥22,675 million (down 4.3%).
• Distribution per unit was ¥3,012 (up ¥6 from previous period), with total distributions amounting to ¥21,664 million. The payout ratio was 95.6%.
• Total assets stood at ¥1,369,176 million, net assets at ¥654,329 million, and the equity ratio was 47.8%.
• During the August 2026 period, the fund acquired 3 properties and disposed of 4 properties. As of the end of the period, the total acquisition cost of assets under management was ¥1,319 billion (157 properties).
• For the February 2027 period, the forecast operating revenue is ¥48,324 million, with a distribution per unit of ¥3,000. For the August 2027 period, the forecast operating revenue is ¥51,506 million, with a distribution per unit of ¥3,050.

R-TOSHI FUND’s strategic portfolio rebalancing, involving three acquisitions and four disposals during the period, is a key takeaway. While operating revenue and profit saw a slight decline compared to the previous period, the distribution per unit of ¥3,012, an increase from the prior period, along with a high payout ratio, suggests a continued focus on unitholder returns. The forecasts for the upcoming periods indicate a temporary dip in revenue for February 2027, followed by an expected recovery in August 2027, which investors may find worth monitoring for future performance trends.

• G-FLN reported full-year results for August 2026, with net sales of ¥1.512 billion and an operating loss of ¥82 million.
• Revenue in the MRR (Monthly Recurring Revenue) segment increased by 8.9% year-on-year, and the “Relationship Population Creation” business saw a 121.8% increase year-on-year.
• Compared to the initial forecast, operating income was ¥83 million lower, and net income was ¥284 million lower. Key factors included a delay in receiving employment development support subsidies, an impairment loss on investment securities of ¥50 million, and an impairment loss of ¥73 million.
• Sales in the Public Solutions business segment were ¥678 million, a 12.7% decrease year-on-year, primarily due to a decline in the Furusato Nozei (hometown tax donation) business.
• The company announced a forecast for the August 2027 fiscal year, projecting net sales of ¥1.675 billion and operating income of ¥22 million.

G-FLN’s fiscal year 2026 results show growth in its MRR and “Relationship Population Creation” businesses, but this was offset by a decline in the Furusato Nozei business and increased selling, general, and administrative expenses, impacting overall performance. The booking of extraordinary losses also significantly affected net income. For fiscal year 2027, the company aims to accelerate its focus by spinning off the Furusato Nozei business and shifting the MRR business into a revenue-generating phase, suggesting that future changes in business structure and profitability recovery will be key areas for investors to monitor.

• Koike Sanso Kogyo Co., Ltd. announced the postponement of its second quarter (interim) financial results announcement for the fiscal year ending March 2027.
• The original scheduled announcement date was November 9, 2026.
• The reason for the postponement is a delay in settlement operations caused by a system failure resulting from a cyberattack that occurred on October 5, 2026.
• As a result of this postponement, the company anticipates exceeding the statutory submission deadline of 45 days after the end of the interim period for its semi-annual report under the Financial Instruments and Exchange Act.
• The new announcement date for the financial results will be disclosed promptly once decided, depending on the progress of system recovery efforts.
• The impact of this incident on business performance is currently being investigated, and any material findings will be disclosed without delay.

This announcement highlights the tangible impact a cyberattack can have on a company’s financial reporting process. Investors will likely be monitoring the progress of system recovery and the eventual disclosure of the financial results, given the expectation of exceeding the statutory reporting deadline. Furthermore, any future disclosures regarding the impact on business performance could be a significant factor in assessing the company’s valuation.

• Japan Enterprise Co., Ltd. resolved to acquire all shares of Honey-Bee Co., Ltd. and make it a subsidiary at its board meeting held on October 21, 2026.
• Honey-Bee is engaged in cargo transportation (delivery), IT reuse, and IoT services, with a capital of 51 million yen, established on April 2, 1990.
• Japan Enterprise will acquire 600 shares, representing a 100% voting rights ratio, for an acquisition price of 1 yen.
• The share transfer execution date is set for October 22, 2026.
• Honey-Bee’s financial performance over the past three fiscal years (ending March 2024 to March 2026) shows sales increasing from 2,204 million yen to 2,916 million yen, while net income reported a profit of 204 million yen in March 2024, followed by losses of △71 million yen in March 2025 and △26 million yen in March 2026.

This acquisition suggests Japan Enterprise aims to expand and enhance its Life Cycle Management (LCM) business for IT equipment, including its core “kitting support services,” by leveraging Honey-Bee’s logistics capabilities. The announced synergy effect, combining Honey-Bee’s logistics with Japan Enterprise’s IT expertise, could lead to improved productivity for both companies. Investors may monitor the progress of these integration efforts and the realization of expected synergies.