F&m Co., Ltd. · TSE:4771
F&m — Q1 FY2026 Earnings Presentation
54 slides from F&m's earnings presentation, Sep 16, 2025
Slide 1: Financial Results Presentation FY2026 First Quarter
Financial Results Presentation FY2026 First Quarter F&M CO., LTD. （TSE Standard, Stock Code 4771）
Slide 2: Corporate Philosophy
Corporate Philosophy 2 Making valuable things more accessible Practicing our Tap Water Philosophy of Services, we contribute to society by supporting the back-office functions of all businesses.
Slide 3: Consolidated Financial Results for Q1 FY2026
1 Consolidated Financial Results for Q1 FY2026
Slide 4: Consolidated Financial Results for Q1 FY2026 - Net Sales Composition
Consolidated Financial Results for Q1 FY2026 4 Operating Net Sales Composition Ratio (Millions of Yen) Net Sales Profit Accounting Service Segment 1,080 296 Consulting Segment 1,814 493 25.6% Business Solutions 1,204 ▲43 28.5% Segment Real Estate Leasing Segment 26 6 System Development ¥4,224M Segme
Slide 5: Highlights
Highlights 5 Consolidated Results ●Sales and membership showed steady growth across all segments Accounting Services Business ●Membership continued to increase steadily ●We held training sessions for new employees at life insurance companies, creating new business opportunities Consulting Business ●
Slide 6: Press Release: Office Station Talent Management
Press Release April 25, 2025 We launched 'Office Station Talent Management,' integrating well-being features A cloud service that centrally manages employee surveys and performance evaluations. It visualizes workplace challenges based on employee feedback and evaluation data, supporting the growth o
Slide 7: Summary (YoY Comparison)
Consolidated Financial Results for Q1 FY2026｜Summary (YoY Comparison) 7 (Millions of Yen) Q1 FY2025 Q1 FY2026 YoY Change Net Sales 3,637 4,224 +586 +16.1% Cost of Sales 1,231 1,440 +208 +16.9% Gross Profit 2,405 2,783 +378 +15.7% Gross Profit Margin 66.1% 65.9% － － SG&A 1,997 2,346 +349 +17.5% Opera
Slide 8: Performance Trends (Cumulative)
Consolidated Financial Results for Q1 FY2026｜ Performance Trends (Cumulative) 8 ●Sales increased by 16.1% year on year, driven by steady growth in membership across all business segments ●The total number of employees rose by 59 year on year, including 34 sales staff. (Millions of yen) 成長率 20.00％ Ne
Slide 9: Performance Trends (QoQ)
Consolidated Financial Results for Q1 FY2026｜ Performance Trends (QoQ) 9 ＋16.1％ ＋7.0％
Slide 10: Segment Performance (YoY Comparison)
Consolidated Financial Results for Q1 FY2026｜Segment Performance (YoY Comparison) 10 Net Sales Operating Profit (Millions of Yen) Q1 FY2025 Q1 FY2026 YoY Change Q1 FY2025 Q1 FY2026 YoY Change Accounting Service Segment 965 1,080 +115 +12.0% 247 296 +49 +20.1% Consulting Segment 1,675 1,814 +138 +8.3
Slide 11: Factors for Change in Consolidated Operating Profit (YoY)
Consolidated Financial Results for Q1 FY2026｜ 11 Factors for Change in Consolidated Operating Profit (YoY) ●While revenue increased by ¥586 million, expenses such as personnel costs, depreciation, and fees also rose ●Operating profit increased by ¥28 million 1,200 Net Sales (Millions of yen) Increas
Slide 12: Consolidated Balance Sheet
Consolidated Financial Results for Q1 FY2026｜Consolidated Balance Sheet 12 (Millions of Yen) Q1 FY2025 Q1 FY2026 YoY Change Current Assets 7,269 6,332 ▲936 Non-Current Assets 10,036 10,330 +294 Assets 17,305 16,663 ▲642 Current Liabilities 3,932 3,302 ▲630 Non-Current Liabilities 159 165 +5 Liabilit
Slide 13: Earnings Per Share (EPS) Trends
Earnings Per Share (EPS) Trends 13
Slide 14: Results by Business Segment for Q1 FY2026
2 Results by Business Segment for Q1 FY2026
Slide 15: Accounting Services Segment
Accounting Services Segment
Slide 16: Accounting Services Segment | Performance Trends (Cumulative)
Accounting Services Segment | Performance Trends (Cumulative) 16 ● Membership continued to grow steadily, contributing to sales growth ● The AI coverage rate for bookkeeping reached 93.0%, contributing to cost reduction (Millions of Yen) 成長率 20.00％ Net Sales Growth Rate +12.0% Operating Profit Growt
Slide 17: Accounting Services Segment | Performance Trends (QoQ)
Accounting Services Segment | Performance Trends （ QoQ ） 17 ＋14.5％ ＋12.0％ ＋20.1％
Slide 18: Accounting Services | Membership Trends
Accounting Services | Membership Trends 18 ●Membership showed steady growth ●Training sessions for new employees were conducted at 97.2% of branches in the four major life insurance companies, contributing to the creation of new sales opportunities ●Approaches toward conducting training sessions for
Slide 19: Consulting Segment
Consulting Segment F&M DAVAVANS Club F&M Bridge
Slide 20: Consulting Segment | Performance Trends (Cumulative)
Consulting Segment｜ Performance Trends (Cumulative) 20 ●Steady growth in F&M Club membership contributed to membership fee revenue ●We recorded ¥151 million in revenue from grant awards under the 13th Round of the Business Restructuring Subsidy and the 3rd Round of the Growth Investment Subsidy for
Slide 21: Consulting Segment | Performance Trends (QoQ)
Consulting Segment｜ Performance Trends （ QoQ ） 21 ＋8.3％ ▲4.8％
Slide 22: F&M Club | Membership Trends
F&M Club ｜ Membership Trends 22 ●The number of members remained stable during the quarter ●We aim to enhance contract renewal rates by clearly defining user segments including industry, company size, key challenges, and usage frequency and by delivering continuous value through tailored, personalize
Slide 23: Partner Financial Institutions
Partner Financial Institutions 23 ●By collaborating with Shinkin Central Bank, the central bank for credit unions, we will strengthen partnerships with credit unions nationwide and enhance our support for corporate clients (Financial Institutions) Q1 FY2026 Breakdown of Partner Financial Institution
Slide 24: Business Solutions Segment
Business Solutions Segment NI4RAF—-Yay ll
Slide 25: Business Solutions Segment | Performance Trends (Cumulative)
Business Solutions Segment| Performance Trends (Cumulative) 25 ●Steady growth in membership of the Office Station series contributed to subscription revenue ●We are strengthening our initiatives for expansion and cross-selling to drive higher growth rates in recurring revenue (Millions of Yen) 成長率 2
Slide 26: Business Solutions Segment | Performance Trends (QoQ)
Business Solutions Segment| Performance Trends （ QoQ ） 26 成長率 ＋36.3％ 20.00％
Slide 27: Office Station Series | Users Trends
Office Station Series｜ Users Trends 27 ●Membership in the Office Station Series exceeded 48,000 companies ●We are implementing measures to reduce churn by enhancing product-specific manuals and strengthening customer support via phone and chat
Slide 28: Office Station Series | Key Metrics
Office Station Series ｜Key Metrics 28 MRR ARR 384 M 4,607 M Churn rate by product CAGR Labor 1.25％ Payslips 1.15％ Year-End Tax Adjustment Pro 1.05％ 0.41％ 43.0 ％
Slide 29: Management Innovation Consultation and Related Organizations | Membership Trends
Management Innovation Consultation and Related Organizations｜ Membership Trends 29 * Promotion Council: Council for Promoting Management Innovation Support Organizations * AI: AI Research Group (If also a member of the Promotion Council, it is counted under the Promotion Council)
Slide 30: Three-Year Business Plan FY2026 to FY2028
Three-Year Business Plan 3 FY2026 to FY2028
Slide 31: We Provide Services Specializing in Back Office to SMEs and Sole Proprietors
We Provide Services Specializing in Back Office to SMEs and Sole Proprietors Nationwide in 31 Collaboration With Our Partners Accounting Services Segment Accounting services for sole proprietors and small-sized enterprises *Main customers are life insurance sales employees Consulting Segment · Admin
Slide 32: Three Strategies for Achieving Sustainable Growth
Three Strategies for Achieving Corporate Philosophy Sustainable Growth 1) Stock-based business Secure continuous revenue and prioritize Bringing valuable things long-term relationships more accessible 2) Partner sales Broaden market access through strategic Tap Water partnerships Philosophy of 3) St
Slide 33: Final Year of Three-Year Plan | Plan for FY2028
Final Year of Three-Year Plan | Plan for FY2028 33 Sales Operating profit Operating profit margin ¥30.0 billion ¥6.0 billion 20% Accounting service members F&M Club members Office Station users 120,000 20,000 70,000 persons companies users
Slide 34: Accounting Services Segment
Accounting Services Segment 34 ● We promote BPO services for certified public tax accountant offices and bookkeeping services for small-sized enterprises toward achieving further growth ● We aim to control costs and improve quality with AI Bookkeeping services for sole proprietors and BPO services f
Slide 35: Consulting Segment
Consulting Segment 35 ● We will strengthen the provision of F&M Club services together with partnering financial institutions ● We aim to increase membership and sales by providing services that capture the latest trends to members Lecturer dispatch training services We promote employee growth and s
Slide 36: Business Solutions Segment
Business Solutions Segment 36 ● Office Station supports the digital transformation of all back-office operations by expanding its products from the “labor relations domain” to the “human resources domain” with the aim of increasing membership ● We aim to increase sales by promoting “cross-selling” t
Slide 37: Business Overview by Segment
4 Business Overview by Segment
Slide 38: Accounting Services Segment
Accounting Services Segment
Slide 39: Business Overview: Accounting Services
Business Overview 39 ● We are pursuing cost control through the use of AI as well as efficiency improvements and enhanced user convenience through the widespread use of our app Bookkeeping service process AI coverage rate for 1 Receive necessary bookkeeping expense records, etc. 2 Scan 93.0％ *Result
Slide 40: Market
Market 40 Number of people who filed final income tax returns | 23,389,000 people Life insurance sales employees | 185,200 people Business Our members income earners 3,789,000 90,819 94,381 51.0％ 19,600,000 Unit: People Unit: People *Source: National Tax Agency, “Report on the Status of Final Tax Re
Slide 41: Consulting Segment
Consulting Segment
Slide 42: Business Overview | F&M Club
Business Overview | F&M Club 42 ● We have a lineup of services that address the issues faced by SMEs ● Users can share tasks to be completed in order to resolve issues on a dedicated member website and have individual company representatives follow up on service usage Finance, labor relations and Hu
Slide 43: Business Overview | Subsidy Application Support
Business Overview | Subsidy Application Support 43 ● We provide application support primarily for Monozukuri subsidies, business restructuring subsidies and growth investment subsidies for SMEs Cumulative number of (1) Extensive know-how approvals We have supported thousands of companies in applying
Slide 44: Business Solutions Segment
Business Solutions Segment
Slide 45: Business Overview
Business Overview 45 ●In addition to our existing labor services, we will expand offerings to the talent management and human resource evaluation domains, providing services across workforce management and development. Paperless collection of employee Paperless year-end adjustments Web distribution
Slide 46: Companies Using Our Services
Companies Using Our Services 46 Labor relations management cloud No. 1 market share for 5 consecutive years *Source: Deloitte Tohmatsu MIC Research Institute Co., Ltd., “The Current State and Outlook of the HRTech Cloud Market” (FY2020-2024) Number of users: 48,951 *As of June 30, 2025
Slide 47: Sustainability
5 Sustainability
Slide 48: Sustainability Policy
Sustainability Policy 48 A world where no one is left behind socially or economically Based on our mission of the “Tap Water Philosophy of Sevices,” we aim to contribute to the revitalization of society by providing valuable services at low cost, as naturally as water. Currently, more than 99% of bu
Slide 49: F&M's Approach to ESG
F&M’s Approach to ESG 49 Environment Social Governance 01 | Achievement of 01 | Contribution to realizing the 01 | Effective corporate environmentally friendly sustainable growth of all governance business management enterprises and enhancing the work satisfaction of and 02 | Compliance promotion an
Slide 50: Education Policy
Education Policy 50 Master in one year what takes three years to learn at other companies Even new employees are given significant autonomy early on, such as being assigned many clients, allowing them to gain overwhelming real-world experience. This fosters a sense of ownership and a strong sense of
Slide 51: Training System
Training System 51 We have established a training system based on years of service and job duties. Each business division conducts OJT as a foundation and OFF-JT as specialized training for each department. フェロー研修 リーダー研修 マネジメント研修 スタッフ研修 F&M WAY 幹部研修 新卒 キャリア 全部門 全部門 スタッフ部門 1年目 カルチャーを学ぶ 会社への理解を深める 現状の
Slide 52: Creating Comfortable Workplaces That Balance Work and Personal Life
Creating Comfortable Workplaces That Balance Work and Personal Life 52 Our Group has established various leave systems to encourage employees to take time off, with the aim of enhancing not only their work but also their personal lives. We have also introduced communication initiatives, including a
Slide 53: Fostering a Culture Where Diverse Human Resources Can Actively Participate
Fostering a Culture Where Diverse Human Resources Can Actively Participate 53 We promote work styles that enable diverse human resources to actively participate regardless of their attributes. We will also foster a culture that respects diversity in the workplace. Recognition trips for outstanding e
Slide 54: Disclaimer and IR Contact
This document is intended to provide information about F&M CO.,LTD. and is not intended to solicit investment in securities issued by the Company. Furthermore, this document has been prepared based on data as of June 30, 2025. The opinions and forecasts contained in this document are based on the ju