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Raksul (4384) investor relations material

Raksul Q1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 2026 earnings summary12 Dec, 2025

Executive summary

  • Announced a management buyout (MBO) with a tender offer at JPY 1,710 per share, representing a 36.8% premium over the previous close, endorsed by the board, with no year-end dividend if MBO is achieved.

  • Q1 revenue reached a record JPY 17.2 billion, up 17.2% year-over-year, with gross profit up 20.2% and EBITDA up 11.8%.

  • Net income attributable to owners of parent increased 87.1% to JPY 808 million; comprehensive income rose 70.2% year-over-year.

  • Strategic partnership with Canva and launch of Raksul Bank to expand platform capabilities.

  • User base expanded to 3.47 million IDs, supporting multifaceted revenue growth.

Financial highlights

  • Q1 revenue: JPY 17.2 billion (+17.2% YoY); gross profit: JPY 6.09 billion (+20.2% YoY); EBITDA: JPY 1.71 billion (+11.8% YoY); net profit (non-GAAP): JPY 1.18 billion (+44.3% YoY).

  • Gross margin improved to 35.3% (+0.9pt YoY); procurement platform margin: 30–33%, marketing platform: 55–65%.

  • Basic earnings per share increased to JPY 13.95 from JPY 7.42 in the prior year.

  • Cash and deposits at period end: JPY 14.06 billion (31.1% of total assets); net debt: JPY 2.5 billion; net debt/EBITDA: 0.26x.

  • Total assets as of October 31, 2025, were JPY 45.15 billion, with equity of JPY 16.48 billion.

Outlook and guidance

  • Full-year revenue forecast for FY ending July 31, 2026: JPY 75.0–77.0 billion (+21.1–24.3% YoY); gross profit: JPY 26.0–27.0 billion (+19.9–24.5% YoY); EBITDA: JPY 7.2–7.7 billion (+18.1–26.3% YoY).

  • Growth expected to be weighted toward the second half of the year; Q2 guidance: >20% YoY gross profit growth, >10% YoY EBITDA growth.

  • Medium-term targets for FY2027: gross profit JPY 30 billion, EBITDA JPY 10 billion.

  • No annual dividend is planned for FY2026, with a revision from the previous forecast.

Explain the gain on bargain purchase
What caused the surge in profit attributable to owners?
What drove the increase in unallocated G&A?
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Frequently asked questions

Raksul Inc is a Japan-based internet services company that operates online platforms for printing, logistics, and advertising services. The company connects customers with production and delivery providers, offering solutions for business cards, flyers, direct mail, and freight. It serves small and medium-sized enterprises across Japan. Raksul Inc is headquartered in Tokyo, Japan, and its shares are listed on the TSE.

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