Net Protections (7383) Q2 2026 earnings summary

Executive summary

• GMV grew 20.6% year-over-year to JPY367.5bn for the six months ended September 30, 2025, driven by both B2C and B2B segments.

• Operating profit rose 78.9% year-over-year to JPY1.54bn, exceeding the earnings forecast and reaching 54.6% of the full-year target.

• Profit attributable to owners of parent more than doubled year-over-year to JPY955mn.

• EBITDA (non-GAAP) increased 44.4% year-over-year to JPY2.42bn, reflecting improved operational efficiency.

• Upward revision of full-year forecast, with operating profit now expected at JPY2.90bn.

Financial highlights

• Total operating revenue increased 12.5% year-over-year to JPY12.4bn.

• Gross profit rose 19.9% year-over-year to JPY5.88bn.

• Basic EPS increased to 9.62 yen from 4.82 yen year-over-year.

• Cash and cash equivalents rose to JPY21.9bn as of September 30, 2025.

• EBITDA (non-GAAP) increased 44.4% year-over-year to JPY2.42bn.

Outlook and guidance

• Full-year GMV forecast revised upward to JPY763bn.

• Operating profit forecast increased to JPY2.90bn, reflecting strong H1 performance and solid H2 outlook.

• Profit attributable to owners forecast at JPY1.60bn and basic EPS at 16.11 yen for the full year.

• Strategic investment of JPY0.3bn in SG&A, mainly for personnel, to support mid- to long-term growth.

• Three-year plan targets GMV over JPY1tn and operating profit of JPY4bn by FY3/28.