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Asmarq cuts full-year net profit forecast 75% to ¥35 million

Thu, Oct 15, 2026 16:00 JST Asmarq Co., Ltd. (4197.T) Market research 中文

Asmarq Co., Ltd. (4197), a Tokyo-listed market research company, on Oct. 15 cut its net profit forecast for the year ending November 2026 by 75.0% to ¥35 million from ¥140 million, and lowered its operating profit forecast to ¥70 million from ¥200 million.

Net profit forecast¥35 million (from ¥140 million)
Operating profit forecast¥70 million (from ¥200 million)
Sales forecast¥4.5 billion (from ¥4.7 billion)
9-month operating profit¥22 million (down 90.4%)

The company now expects full-year sales of ¥4,500 million, down 4.3% from its Jan. 14, 2026 forecast of ¥4,700 million. Third-quarter earnings released the same day showed nine-month sales up 2.0% at ¥3,394 million, while operating profit fell 90.4% to ¥22 million and net profit fell 96.5% to ¥5 million.

ItemPrevious forecastRevised forecastChangeFY to Nov. 2025 actual
Sales¥4,700 mln¥4,500 mln-4.3%¥4,416 mln
Operating profit¥200 mln¥70 mln-65.0%¥280 mln
Ordinary profit¥210 mln¥80 mln-61.9%¥289 mln
Net profit¥140 mln¥35 mln-75.0%¥199 mln
EPS¥121.04¥30.26—¥174.91

Asmarq said orders fell short of plan, with sales to corporate clients, its focus area, down 9.4% year on year in the June-August quarter, and it is taking a conservative view of the fourth quarter. Outsourcing costs ran at about 35% of sales against an assumed level of about 32%, and goodwill amortization at a consolidated subsidiary added to costs.

The company had kept its outlook when it reported first-half results on July 15, 2026, as operating profit had reached 63.5% of the full-year target and corporate-client sales had returned to growth in the March-May quarter. After finalizing third-quarter results and reviewing orders, it concluded the gap could not be closed in the fourth quarter. It plans to focus on booking sales from orders in hand and on lowering its outsourcing cost ratio through vendor optimization and in-house production.

The dividend forecast is unchanged at ¥78.00 per share for the year, including a year-end payout of ¥40.00.

Asmarq held a briefing for institutional investors and analysts on Oct. 15 and plans to post audio of the presentation on its website on Oct. 19. The fiscal year ends Nov. 30, 2026.


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