Macbee Planet (7095): FY2025 Results Summary — First Decline in Revenue and Profit Since Founding

This article is based on publicly available IR materials and is not a recommendation to buy or sell any specific securities.

Note: Macbee Planet closes its books at the end of April, and the company labels the year ended April 30, 2026 as “FY04/2026”; this article covers that year as the most recent completed fiscal year, and all labels in the text, tables and figures below follow the company’s own presentation.

Macbee Planet, Inc. reported revenue of 50,579 million yen for FY04/2026, down 2.1% year on year, and operating profit of 3,650 million yen, down 29.4%. The company states that although the number of new clients increased, it was significantly impacted by the specific circumstances of existing major clients, resulting in a decline in both revenue and profit for the first time since its foundation. Profit attributable to owners of the parent was 2,353 million yen, down 31.6%, with basic earnings per share of 169.49 yen. For FY04/2027 the company forecasts revenue of 51.0 billion yen and operating profit of 3.0 billion yen, including investments for business transformation, and plans to maintain a dividend of 55 yen per share.

Consolidated Results (Full-Year Actual)

The operating profit margin fell to 7.2% from 10.0%, a decline of 2.8 percentage points. Gross profit declined 6.4% to 8,642 million yen and the gross profit margin was 17.1% versus 17.9% a year earlier. Figures are presented under IFRS, which the company voluntarily adopted in July 2025; the company notes that the adoption of IFRS reduced SG&A expenses by about 550 million yen compared with J-GAAP, mainly due to the non-amortization of goodwill.

Item	FY04/2026	FY04/2025	YoY Change
Revenue	50,579	51,675	(2.1)%
Gross profit	8,642	9,236	(6.4)%
Gross profit margin (GPM)	17.1%	17.9%	—
SG&A expenses	4,991	4,041	—
Operating profit	3,650	5,171	(29.4)%
Operating profit margin (OPM)	7.2%	10.0%	(2.8) pt
Profit attributable to owners of the parent	2,353	—	(31.6)%
Basic earnings per share	169.49 yen	—	—
Dividends per share	55.00 yen (planned)	—	—

Unit: millions of yen unless otherwise stated. Items marked “—” are not disclosed in the presentation.

Breakdown of the Decline in Operating Profit

The company bridges operating profit from 5,171 million yen in FY04/2025 to 3,650 million yen in FY04/2026 with four factors: a decrease in gross profit of 594 million yen, an increase in personnel and recruitment expenses of 479 million yen, an increase in advertising expenses of 160 million yen, and other items of 286 million yen. The gross profit decline is attributed to higher media costs in the lending and card industry in Q1, restraint in advertising spending in the investment industry from Q1 to Q2, and a revision in ad unit prices in the medical industry from Q2 onward. Personnel and recruitment costs rose because advertising efforts increased corporate exposure and the applicant pool, leading to active hiring (up 19 employees year on year), alongside pay raises and the grant of stock-based compensation. Other items include server fees, office expansion and M&A-related expenses.

SG&A Item	FY04/2026	FY04/2025
SG&A expenses	4,991	4,041
Personnel expenses	2,100	1,657
Advertising expenses	477	317
Recruitment & training expenses	154	118
R&D expenses	139	268
Other expenses	2,119	1,680

Sales by Industry

Macbee Planet discloses sales composition by client industry rather than by reporting segment. Finance, the largest category, generated 20,880 million yen, or 41% of sales, against 21,610 million yen (42%) a year earlier, with the Lending & Card sub-category falling to 5,148 million yen from 5,640 million yen. Wellness declined to 16,330 million yen (32% of sales) from 18,458 million yen (36%), driven by Medical at 14,199 million yen versus 15,762 million yen. Human Talent rose to 5,243 million yen and Others rose to 8,124 million yen, or 16% of sales. The company explains that advertising in the investment area was restrained due to unauthorized access issues at securities companies, an issue it says was resolved from Q3, and that FX and cryptocurrency remained low due to deteriorating market conditions; in the Medical area, revenue from online medical consultations declined from Q2 due to a revision in ad unit prices, while in-person consultations performed well. In Lending, the impact of higher media costs that began in Q1 was resolved by Q4, and the Q4 accounting period set a new record high driven by the peak season.

Industry	FY04/2026	Ratio	FY04/2025	Ratio
All	50,579	100%	51,675	100%
Finance	20,880	41%	21,610	42%
Investment	13,133	26%	13,181	26%
Lending & Card	5,148	10%	5,640	11%
Others (Finance)	2,597	5%	2,788	5%
Wellness	16,330	32%	18,458	36%
Medical	14,199	28%	15,762	31%
Bricks & Mortar	1,265	3%	1,824	4%
Others (Wellness)	865	2%	872	2%
Human Talent	5,243	10%	4,976	10%
Others	8,124	16%	6,630	13%

Unit: millions of yen. The company notes that the classification of sales by industry is scheduled to change starting with the fiscal year ending April 2027: the Investment category will be split into “Securities”, “FX/cryptocurrency” and “Real estate investment” (with real estate investment consolidated into Others (finance)), “Medical” will be split into “Online consultations” and “In-person consultations”, and “Bricks & mortar” will be consolidated into “Others (wellness)”.

FY04/2027 Forecast

For FY04/2027 the company forecasts revenue of 51,000 million yen (up 0.8%), operating profit of 3,000 million yen (down 17.8%) and profit attributable to owners of the parent of 1,900 million yen (down 19.3%), with basic earnings per share of 152.53 yen. The forecast assumptions versus FY04/2026 are: Finance revenue flat (investment down 1.5 to 2.0 billion yen, with lending & card and other increasing by approximately the same amount in total), Wellness up 2.0 billion yen and Others down 2.0 billion yen; gross profit down 500 million yen; and within SG&A, advertising expenses down 150 million yen, personnel expenses up 150 million yen and M&A and initiatives-related expenses up 150 million yen. Relative to the outlook disclosed on April 23, the company cites a gross profit decrease of approximately 500 million yen — reflecting changes in business flows in the securities industry due to client-side partnerships and organizational restructuring, and a review of advertising methods in the professional services industry — plus an SG&A increase of 150 million yen for M&A and initiatives-related expenses, a negative impact of 650 million yen on operating profit.

Item	FY04/2027 Forecast	FY04/2026 Results	YoY
Revenue	51,000	50,579	+0.8%
Operating profit	3,000	3,650	(17.8)%
Profit attributable to owners of the parent	1,900	2,353	(19.3)%
Basic earnings per share	152.53 yen	169.49 yen	—
Dividends per share	55.00 yen	55.00 yen (planned)	—

Unit: millions of yen unless otherwise stated.

Shareholder Returns

Dividends per share for FY04/2026 are 55.00 yen (planned), and the company expects to maintain 55.00 yen for FY04/2027. In doing so it revised the 20% dividend payout ratio policy announced in the mid-term business plan and will instead maintain the dividend amount of 55 yen. In April 2026 the company also carried out a repurchase of treasury shares via ToSTNeT-3, with the stated objective of shifting to a structure designed to accelerate initiatives aimed at agile business operations and enhancing corporate value; MG GK, the asset management company of founder Mr. Matsumoto, participated.

Actions for Improving Cost of Capital and Share Prices

The company states that uncertainty about the future has lowered expectations for its growth, and that while ROE remains high, a declining PBR is a critical issue; the background given is that results deviated from the forecast due to the impact of major clients, leading to a downward revision of financial forecasts in Q2. For FY04/2026 the presentation shows ROE of 19.2% and PBR of 1.3, against ROE of 30.4% and PBR of 3.2 in FY04/2025 (figures for FY2024 and earlier are calculated on a J-GAAP basis, and FY2025 and later on an IFRS basis). The three initiatives set out to improve PBR in FY04/2027 are maintaining the dividend under the revised policy, further promoting growth strategies by using AI to penetrate the growing latent-consumer advertising market with a performance-based model, and solidifying the earnings base, where the company says that although profit is expected to decline in FY2027, downside risks are limited, including investments for business transformation.

Business Strategy and Topics

Macbee Planet describes itself as a performance-based fee marketing company that advocated “LTV Marketing” and established the top market share in the performance-based fee segment of the search-centric internet advertising market. The presentation notes that advertising targeting latent consumers — social media, retail and various tie-ups — has surpassed advertising targeting high-intent consumers in scale and continues to expand, while high-intent advertising such as search ads and SEO shifts from a phase of “maximization” to “optimization”. The company’s response is to strengthen collaboration with partners to diversify consumer touchpoints and to use M&A to build and own touchpoints where collaboration takes time. Initiatives implemented during FY04/2026 included the group-in of MOJA, an SNS consulting firm, in May 2025, aimed at expanding the lineup of performance-based fee services and improving profit margins through efficient client acquisition via social media, and the launch of vertical media through collaboration with major media companies in January 2026, aimed at creating new consumer touchpoints in the wellness industry.

On client acquisition, the number of newly acquired clients with monthly sales of 10 million yen or more rose from 5 to 10 year on year, of which 3 clients had monthly sales of 30 million yen or more, versus 1 in the previous fiscal year. The number of consultants was 107 in FY2026, unchanged from FY2025, while gross profit per consultant was 73 million yen against 80 million yen. Consolidated employees totalled 201 as of the end of April 2026. Macbee Planet was established in August 2015, listed on the Mothers section of the Tokyo Stock Exchange in March 2020 and moved to the Prime Market in July 2024.

This article is an analysis based on publicly available information and is not a recommendation to buy or sell any specific securities. Investment decisions are your own responsibility.