F&m Co., Ltd. · TSE:4771
F&m — Q1 FY2027 Earnings Presentation
49 slides from F&m's earnings presentation, Sep 3, 2026
Slide 1: Financial Results Presentation FY2027 1st Quarter
Financial Results Presentation FY2027 1st Quarter （TSE Standard, Stock Code 4771） F&M Co., Ltd.
Slide 2: Corporate Philosophy
Corporate Philosophy Tap Water Philosophy of Services We aim to create a society where high-quality services are seamlessly accessible to everyone, just like running water Corporate Mission Creating a society of boundless growth and prosperity for all individuals and enterprises we engage with F&M C
Slide 3: Consolidated Financial Results for Q1 FY2027
01 Consolidated Financial Results for Q1 FY2027
Slide 4: Segment Composition
Consolidated Financial Results for Q1 FY2027 | Segment Composition 4 Operating Net Sales Composition Ratio (Millions of Yen) Net Sales Profit Accounting Services Segment 1,177 349 2,342 781 22.4% Consulting Segment Business Solutions 1,648 -23 31.3% Segment Real Estate Leasing Segment 27 7 ¥5,264M S
Slide 5: Highlights
Highlights 5 Consolidated Results ●Sales and membership showed steady growth across all segments Accounting Services Segment ●Membership in bookkeeping services continued to increase steadily Consulting Segment ●Membership in the F&M Club continued to grow steadily ●We recorded ¥440 million in reven
Slide 6: Intermediary Agreement with MUFG Bank for 'F&M Club for MUFG'
PRESS RELEASE July 15, 2026 Concluded Intermediary Agreement with MUFG Bank for 'F&M Club for MUFG,’ a Back-Office Consulting Service for Mid-Market Enterprises and SMEs Providing robust support for mid-market enterprises and SMEs to solve management challenges and achieve sustainable growth through
Slide 7: Consolidated Financial Results Summary (YoY Comparison)
Consolidated Financial Results for Q1 FY2027｜Summary (YoY Comparison) 7 (Millions of Yen) Q1 FY2026 Q1 FY2027 YoY Change Net Sales 4,224 5,264 +1,040 +24.6% Cost of Sales 1,440 1,840 +400 +27.8% Gross Profit 2,783 3,424 +640 +23.0% Gross Profit Margin 65.9% 65.0% － － SG&A 2,346 2,626 +280 +11.9% Ope
Slide 8: Segment Performance (YoY Comparison)
Consolidated Financial Results for Q1 FY2027｜Segment Performance (YoY Comparison) 8 Net Sales Operating Profit (Millions of Yen) Q1 FY2026 Q1 FY2027 YoY Change Q1 FY2026 Q1 FY2027 YoY Change Accounting Services Segment 1,051 1,177 +126 +12.0% 294 349 +54 +18.6% Consulting Segment 1,814 2,342 +528 +2
Slide 9: Performance Trends (Cumulative)
Consolidated Financial Results for Q1 FY2027｜ Performance Trends (Cumulative) 9 ●Sales increased by 24.6% year on year, driven by steady growth in membership across all business segments and an increase in subsidy adoption fees ●The number of employees in the sales division increased by 57 year-on-y
Slide 10: Factors for Change in Consolidated Operating Profit (YoY)
Consolidated Financial Results for Q1 FY2027｜ Factors for Change in Consolidated Operating Profit (YoY) 10 ●While revenue increased by ¥1,040 million, costs such as personnel expenses, outsourcing fees, and commissions also rose ●Operating profit increased by ¥360 million (Millions of Yen)
Slide 11: Consolidated Balance Sheet
Consolidated Financial Results for Q1 FY2027｜Consolidated Balance Sheet 11 (Millions of Yen) End-FY2026 Q1 FY2027 Change Current Assets 8,736 7,575 -1,160 Non-Current Assets 11,906 12,129 +223 Assets 20,642 19,705 -936 Current Liabilities 5,037 4,029 -1,007 Non-Current Liabilities 180 182 +1 Liabili
Slide 12: Earnings Per Share (EPS) Trends
Earnings Per Share (EPS) Trends 12
Slide 13: Results by Business Segment for Q1 FY2027
02 Results by Business Segment for Q1 FY2027
Slide 14: Accounting Services Segment
01 Accounting Services Segment
Slide 15: Accounting Services Segment | Performance Trends (Cumulative)
Accounting Services Segment | Performance Trends (Cumulative) 15 ● Membership continued to grow steadily, contributing to sales growth ● The AI coverage rate for bookkeeping reached 93.4% Net Sales Growth Rate ＋12.0％ Operating Profit Growth Rate ＋18.6％ Operating Profit Margin 29.7％
Slide 16: Accounting Services | Membership Trends
Accounting Services | Membership Trends 16 ●Membership showed steady growth ●By transitioning to online training for new hires across life insurers and introducing inside sales, we created an environment where field sales reps can focus on regional sales As a result, sales opportunities increased, l
Slide 17: Consulting Segment
02 Consulting Segment
Slide 18: Consulting Segment | Performance Trends (Cumulative)
Consulting Segment｜ Performance Trends (Cumulative) 18 ●F&M Club membership maintained steady growth ●We recorded ¥440 million in revenue from grant awards under: The 22nd Round of the Monozukuri Subsidy The 5th Round of the Subsidy for Large-Scale Growth Investment The 5th Round of the Labor-saving
Slide 19: F&M Club | Membership Trends
F&M Club ｜ Membership Trends 19 ●Established a region-based, end-to-end support structure by integrating departments previously divided by role (“New Sales” and “Customer Follow-up”), contributing to an improved contract retention rate ●Further strengthening collaboration with 237 partner financial
Slide 20: Business Solutions Segment
03 Business Solutions Segment
Slide 21: Business Solutions Segment | Performance Trends (Cumulative)
Business Solutions Segment| Performance Trends (Cumulative) 21 ● Steady growth in membership of the Office Station series contributed to subscription revenue ● Focusing on acquiring new contracts for our labor management software, as well as upselling and cross-selling to existing users Net Sales Gr
Slide 22: Office Station Series | User Trends
Office Station Series｜ User Trends 22 ● Membership in the Office Station Series exceeded 58,000 users ● We launched ‘SRAISE,’ a generative AI tool specialized in Labor and Social Security Attorney services
Slide 23: Office Station Series | Key Metrics
Office Station Series ｜Key Metrics 23 MRR ARR ¥489 M ¥5,872 M Churn rate by product CAGR Labor 1.01％ Payslips 1.32％ Time and Attendance Year-End Tax Adjustment Pro *For Labor and Tax Professionals 1.82％ 1.01％ 0.32％ 37.0 ％
Slide 24: Management Innovation Consultation and Related Organizations | Membership Trends
Management Innovation Consultation and Related Organizations｜ Membership Trends 24 ● Membership in the "AI Study Group," a generative AI community specialized for tax accounting firms, maintained steady growth ● The "AI Study Group" provides prompt templates, customized consultations tailored to eac
Slide 25: FY2027 Consolidated Forecast
03 FY2027 Consolidated Forecast
Slide 26: FY2027 Q2 and Full-Year Forecasts
FY2027 Q2 and Full-Year Forecasts 26 (Millions of Yen) Q2 Actuals (P/FY) Q2 Forecast (C/FY) YoY Change Q4 Actuals (P/FY) Q4 Forecast (C/FY) YoY Change Net Sales 8,956 10,477 +1,520 +17.0% 20,807 24,694 +3,886 +18.7% Cost of Sales 3,021 3,882 +860 +28.5% 6,733 8,713 +1,979 +29.4% Gross Profit 5,934 6
Slide 27: FY2027 Full-Year Forecasts for Three Key Segments
FY2027 Full-Year Forecasts for Three Key Segments 27 Net sales Operating profit (Millions of Yen) P/FY Actuals C/FY Forecast YoY Change P/FY Actuals C/FY Forecast YoY Change Accounting Services Segment 5,364 5,738 +374 +7.0% 1,863 1,976 +112 +6.1% Consulting Segment 8,192 10,158 +1,966 +24.0% 2,592
Slide 28: Three-Year Business Plan | FY2026 to FY2028
04 Three-Year Business Plan|FY2026 to FY2028
Slide 29: Medium-Term Management Plan Progress
Medium-Term Management Plan Progress| Net Sales & Operating Profit & Members 29 Net Sales & Operating Profit Members (Millions of Yen) ACCOUNTING SERVICE 113,502 117,288 120,000 FY2026 Actuals FY2027 Forecast FY2028 Plan F&M CLUB 18,867 20,000 30,000 14,817 Net Sales 24,694 FY2026 Actuals FY2027 For
Slide 30: Business Overview
05 Business Overview
Slide 31: Back Office Services for SMEs and Sole Proprietors Nationwide
We Provide Services Specializing in Back Office to SMEs and Sole Proprietors Nationwide in Collaboration With Our Partners 31 Accounting Services Segment Accounting services for sole proprietors and small-sized enterprises *Main customers are life insurance sales employees Consulting Segment · Admin
Slide 32: Tap Water Philosophy of Services: Three Strategies
32 Three Strategies for Achieving Corporate Philosophy Sustainable Growth Making valuable things 1) Stock-based business more accessible Secure continuous revenue and prioritize long-term relationships Tap Water 2) Partner sales Philosophy of Broaden market access through strategic partnerships Serv
Slide 33: Accounting Services Segment
01 Accounting Services Segment
Slide 34: Business Overview: Accounting Services
Business Overview 34 ● 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 bookkeeping 93.4％ Receive necessary 1 expense records, etc. *Result as of
Slide 35: Market
Market 35 Number of people who filed final income tax returns | 23,535,000 people Life insurance sales employees ｜185,200 people Business Our members income earners 3,861,000 77,771 107,429 19,674,000 58.0％ Unit: People Unit: People *Source: National Tax Agency, “Report on the Status of Final Tax Re
Slide 36: Consulting Segment
02 Consulting Segment
Slide 37: Business Overview | F&M Club
Business Overview | F&M Club 37 ● 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 Human
Slide 38: Business Overview | Subsidy Application Support
Business Overview | Subsidy Application Support 38 ● We provide application support for the “Monozukuri Subsidy,” “Labor-saving Investment Subsidy (General Type),” and "Large-Scale Growth Investment Subsidy" Cumulative number of (1) Extensive know-how approvals We have supported thousands of compani
Slide 39: Business Solutions Segment
03 Business Solutions Segment
Slide 40: Business Overview
Business Overview 40 ●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 41: No.1 market share for 6 consecutive years
Companies Using Our Services 41 Labor relations management cloud No.1 market share for 6 consecutive years *Source: Deloitte Tohmatsu MIC Research Institute Co., Ltd., “The Current State and Outlook of the HRTech Cloud Market” 58,054 (FY2020-2025) Number of users: *As of June 30, 2026
Slide 42: Sustainability
06 Sustainability
Slide 43: Sustainability Policy
Sustainability Policy A future of growth and fulfillment, for everyone. Our sustainability policy is to create a world where no one is left behind, socially or economically. To achieve this, we develop social infrastructure that enables mid-market enterprises, SMEs, and sole proprietors—the backbone
Slide 44: F&M's Approach to ESG
F&M’s Approach to ESG 44 E Eliminating Waste, Creating New Value Environment We reduce paper waste across society through our bookkeeping services and DX promotion.Through partnerships with key collaborators, we have established a fully closed-loop recycling system where 100% of the paper documents
Slide 45: Education Policy
Education Policy 45 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 46: Training System
Training System 46 We have established a systematic training program tailored to employees' years of service and roles. In addition to combining on-the-job training (OJT) with specialized off-the-job training (Off-JT) across our business divisions, we focus on acquiring cutting-edge skills and boost
Slide 47: Creating Comfortable Workplaces That Balance Work and Personal Life
Creating Comfortable Workplaces That Balance Work and Personal Life 47 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 48: Fostering a Culture Where Diverse Human Resources Can Actively Participate
Fostering a Culture Where Diverse Human Resources Can Actively Participate 48 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. Top Performer Parental leave and re
Slide 49: This document is intended to provide information about F&M Co., Ltd. and is not
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, 2026. The opinions and forecasts contained in this document are based on the j