M&A Capital Partners Co. Ltd. · TSE:6080
M&A Capital Partners — FY2026 Earnings Presentation
59 slides from M&A Capital Partners's earnings presentation, Nov 10, 2026
Slide 1: Presentation Materials for the Fiscal Year 09/2026 Earnings Results
Presentation Materials for the Fiscal Year 09/2026 Earnings Results Nov. 10, 2026
Slide 2: Agenda
Agenda １ Performance P3 ２ Company Overview P15 ３ Competitive Edge P21 ４ Market Environment and Industry Trends P36 ５ Growth Strategy and Shareholder Returns P42 6 Topics P49 7 Social Significance P55 1 FY09/2026 Results Presentation | Copyright © 2026 M&A Capital Partners Co., Ltd. All rights reserv
Slide 3: Results summary
Results summary Achieved record highs in revenue, operating profit, the number of deals closed, and the number of large deals for the full year Leading indicators, including number of consultants, number of active deals, and contract liabilities, also reached record highs. Revenue Operating profit (
Slide 4: Agenda
Agenda １ Performance P3 ２ Company Overview P15 ３ Competitive Edge P21 ４ Market Environment and Industry Trends P36 ５ Growth Strategy and Shareholder Returns P42 6 Topics P49 7 Social Significance P55 3 FY09/2026 Results Presentation | Copyright © 2026 M&A Capital Partners Co., Ltd. All rights reserv
Slide 5: Non-consolidated performance summary for FY09/2026
Non-consolidated performance summary for FY09/2026 On a non-consolidated basis, revenue, operating profit, and the number of deals closed all reached record highs. MACP on a non-consolidated basis and RECOF performed broadly in line with the revised forecasts. M&A Capital Partners Co., Ltd. RECOF Co
Slide 6: Earnings results and annual trend
Earnings results and annual trend Revenue and operating profit were broadly in line with the forecast Achieved record-highs in full-year revenue, operating profit, and number of deals closed (Unit: Millions of yen) Full-year results Full-year forecast (revised) Progress to date (revised) □ Revenue (
Slide 7: Overview of consolidated income statement for FY09/2026
Overview of consolidated income statement for FY09/2026 Revenue and operating profit reached record highs (Unit: Millions of yen, second line is composition ratio) FY09/2025 FY09/2026 (consolidated) (consolidated) YoY change Summary Number of deals closed and large deals 22,448 28,292 Revenue +26.0%
Slide 8: Overview of consolidated statement of financial position for FY09/2026
Overview of consolidated statement of financial position for FY09/2026 Solid financial position underpinned by stable equity (Unit: Millions of yen, second line is composition ratio) End-FY09/2025 End-FY09/2026 (Consolidated) (Consolidated) YoY Change Summary Current assets 46,916 55,451 +8,535 ◼ Ca
Slide 9: Annual trend in the consolidated number of deals closed
Annual trend in the consolidated number of deals closed Number of deals closed increased 17.3% YoY on a consolidated basis, reaching a record high for full-year Number of deals closed (consolidated) (Deals) 320 Full-year result Full-year forecast Results vs forecast 300 282 280 Q4 Q3 Q2 Q1 260 Full-
Slide 10: Quarterly trend in the number of active deals (non-consolidated)
Quarterly trend in the number of active deals (non-consolidated) The number of active deals reached a record high of 843 (+27.3% YoY), with a large deal ratio of 22.7% By thoroughly implementing initiatives to balance deal closings and new deal development, MACP is focusing on further strengthening
Slide 11: Quarterly trend in contract liabilities
Quarterly trend in contract liabilities Contract liabilities reached a record high of ¥2,189 million (+59.0% YoY) Number of active deals reached a record high and is expected to continue increasing Quarterly trend in the amount of contract liabilities * Moving average: the simple average of each qua
Slide 12: Quarterly trend in the number of consultants
Quarterly trend in the number of consultants Record-high consolidated headcount of 302 (+44 YoY) With hiring progressing steadily, 27.5%* of objectives have been met toward the full-year 25% headcount growth plan (346 for MACP), including confirmed future joiners * As of September 30, 2026 Quarterly
Slide 13: Consolidated performance forecast for FY09/2027 (IFRS)
Consolidated performance forecast for FY09/2027 (IFRS) Projecting a further 20% increase in deals closed from the record high in the previous fiscal year Forecast Strong start with a record 843 active deals and contract liabilities of ¥2,189 million *Includes an impairment loss associated with the r
Slide 14: Non-consolidated earnings forecast for FY09/2027 (J-GAAP)
Non-consolidated earnings forecast for FY09/2027 (J-GAAP) Deals closed and revenue projected to rise about 20% from the previous record-high year Background ●YoY change ⚫ Record highs in the number of consultants, active Revenue ¥31,914 million +20.5% deals, and contract liabilities indicate continu
Slide 15: Non-consolidated earnings forecast for FY09/2027 (J-GAAP) RECOF
Non-consolidated earnings forecast for FY09/2027 (J-GAAP) Starting the year with a solid pipeline of large and high-quality deals expected to drive earnings recovery, while promoting stronger deal development capabilities and higher productivity through thorough KPI management ●YoY change Background
Slide 16: Agenda
Agenda １ Performance P3 ２ Company Overview P15 ３ Competitive Edge P21 ４ Market Environment and Industry Trends P36 ５ Growth Strategy and Shareholder Returns P42 6 Topics P49 7 Social Significance P55 15 FY09/2026 Results Presentation | Copyright © 2026 M&A Capital Partners Co., Ltd. All rights reser
Slide 17: Company overview
Company overview Trade Name M&A Capital Partners Co., Ltd. Listed Market Tokyo Stock Exchange Prime Market (Ticker number: 6080) Head Office 36F, Yaesu Central Tower, Tokyo Midtown Yaesu, Yaesu 2-2-1, Chuo-ku, Tokyo Location Business M&A-related services Representative Satoru Nakamura, President and
Slide 18: History
History Company ■ Company founded in Shinjuku-ku, Tokyo, for the purpose of carrying out M&A intermediary October 2005 established business February 2007 Relocation due to growth ■ Head office relocated to Kojimachi 3-chome, Chiyoda-ku, Tokyo Listed on November 2013 TSE Mothers ■ Listed on the Tokyo
Slide 19: The MACP Group's business portfolio
The MACP Group’s business portfolio Offering tailored M&A advisory solutions customized for every client Top-level professional group in Japan Client Large corporations Business succession＆ Medium-sized enterprises Industry restructuring, Cross- border, Growth strategy support Business succession, F
Slide 20: Our business
Our business Business M&A-Related Services Characteristics We provide advisory services for M&A transactions, maintaining We offer and facilitate the implementation of M&A-focused an independent and impartial stance between the seller solutions for business owners concerned about succession (acquire
Slide 21: Our philosophy
Our philosophy Our vision We aspire to be the world’s leading investment bank, seeking maximum contributions to clients and striving for the happiness of all employees Our value 1 2 3 As one of the world's leading groups of Through work at a broader and higher level, We will continually move forward
Slide 22: Agenda
Agenda １ Performance P3 ２ Company Overview P15 ３ Competitive Edge P21 ４ Market Environment and Industry Trends P36 ５ Growth Strategy and Shareholder Returns P42 6 Topics P49 7 Social Significance P55 21 FY09/2026 Results Presentation | Copyright © 2026 M&A Capital Partners Co., Ltd. All rights reser
Slide 23: Overview of our competitive advantage
Overview of our competitive advantage Brand 1 An overwhelming brand in the M&A industry ⚫ Key 10 categories in the M&A industry ⚫ League table High productivity of our consultants 2 Unparalleled proposal capabilities and track record in the industry ⚫ Revenue and Operating profit per consultant ⚫ Ce
Slide 24: Brand
Competitive edge 1 Brand Establishing the “best brand” with a dominant presence in the M&A industry *The above is sourced from our website. 23 FY09/2026 Results Presentation | Copyright © 2026 M&A Capital Partners Co., Ltd. All rights reserved
Slide 25: Domestic Position
Competitive edge 1 Domestic Position Maintaining a market-leading position in Japan’s M&A landscape A remarkably high number of deals in Japan Japan M&A Review 2025 Domestic Market Financial Advisor Top 5 Rankings Ranking by value/excluding real estate deals Ranking by # of deals/excluding real esta
Slide 26: Global position
Competitive 競争優位性 edge 11 Global position Advancing toward our vision of becoming the world’s leading investment bank Establishing ourselves as a globally recognized M&A advisor Global M&A Mid-Market Advisory Global M&A Small-Cap Advisory Worldwide Mid-Market (MM1) Worldwide Small-Cap (MM1a) Full Ye
Slide 27: High productivity of our consultants
Competitive edge 2 High productivity of our consultants Overwhelmingly high productivity per capita in the M&A industry; 13.7% of our consultants are certified professionals, such as accountants and lawyers (an outstanding holding rate in the industry). Productivity Revenue per consultant Operating
Slide 28: Equity-based Lehman formula
Competitive edge 3 Equity-based Lehman formula The only company listed on the TSE prime market that adopted the equity-based Lehman formula for both buyers and sellers, achieving a fair fee structure with minimal conflicts of interest and the lowest intermediary commission rate in the industry The d
Slide 29: Fair and Easy-to-start Fee Structure
Competitive edge 3 Fair and Easy-to-start Fee Structure Equity-based Lehman formula to both parties and no commencement fee since establishment The amount receivable for the seller decreases when one party is charged by a different fee structure MACP Same fee structure to both parties Peer company D
Slide 30: Commission fee variance between companies listed on TSE Prime
Commission fee variance between 4 companies listed Competitive edge 3 on the TSE Prime market Calculation given that total liability of ¥1.5 billion※ and share value of ¥0.5 billion ※Total liability: including interest-bearing debt, accounts payable and other unpaid debts Company name Success fee fr
Slide 31: Direct proposal-based business model
Competitive edge 4 Direct proposal-based business model Since its founding, the Company has focused on a direct proposal–based business model, approaching the sellers directly without relying on referrals. Leveraging the industry’s top brand and the proposal capabilities of our outstanding consultan
Slide 32: Matching capabilities
Competitive 競争優位性 edge 1 44 Matching capabilities Proposing optimal counterparties from one of the largest client bases in Japan, comprising approximately 88,000 companies across our Group Utilizing the latest AI technology to identify candidate counterparties based on past completed deals Conclusio
Slide 33: Highly Profitable Large Deals
Competitive edge 5 Highly Profitable Large Deals Achieving an exceptionally high average consideration in the M&A industry through the successful conclusion of highly profitable large-scale deals, with a direct proposal business model 22.3% About 1 in 4 deals 62 large M&A deals are large deals with
Slide 34: Recruiting Power
Competitive edge 6 Recruiting Power The top average annual income company listed on the Tokyo Stock Exchange for 10 consecutive years, with top salespeople from various industries. Ranked No. 1 in the core “recruitment and training” category within the M&A industry. ■ Top five average income ranking
Slide 35: Human resource development
Competitive edge 7 Human resource development The entire company is committed to enhancing the quality of service. We pursue further excellence and develop the best consultants through effective human resource development. In the litigious M&A industry, our group has had only two lawsuits in its 59-
Slide 36: Engagement
Competitive edge 7 Engagement Individual growth underpins the growth of our organization as a whole. We have fostered a corporate culture rooted in our vision and values since our founding, with a strong emphasis on teamwork. Point 1 Point 2 Point 3 Point 4 The hallmark of MACP’s corporate culture:
Slide 37: Agenda
Agenda １ Performance P3 ２ Company Overview P15 ３ Competitive Edge P21 ４ Market Environment and Industry Trends P36 ５ Growth Strategy and Shareholder Returns P42 6 Topics P49 7 Social Significance P55 36 FY09/2026 Results Presentation | Copyright © 2026 M&A Capital Partners Co., Ltd. All rights reser
Slide 38: Long-term trend in Japan's M&A market
Long-term trend in Japan’s M&A market Number of M&A deals in Jan–Sep 2026 reached a record high of 3,883 Up 5.0% year-on-year, marking a record for the third consecutive year (Deals) 6,000 ■ OUT-IN 5,000 M&A of Japanese companies by overseas companies Latest 4,000 ■ IN-OUT M&A of overseas companies
Slide 39: Current state of SMEs
Current state of SMEs (small and medium-sized enterprises) Changes in the operating environment are leading to persistent high levels of business closures and bankruptcies As the average age of company presidents rises, many organizations are struggling with succession planning Number of business su
Slide 40: Market size of the business succession M&A in Japan
Market size of the business succession M&A in Japan The main target for business succession M&A is estimated to be around 270,000 companies. The potential demand for business succession M&A is expected* to remain steady for the next 20 years *Source: calculated by Yano Research Institute (sales over
Slide 41: Competitive environment
Competitive environment The M&A market has intensified further with the full-scale entry of major financial institutions. The number of M&A advisors registered with the SME Agency has reached 3,362. The MACP Group’s share is about 4% among the total registered M&A advisors. ※ ※ MACP Group’s 221 deal
Slide 42: Industry Trends and Initiatives for Improving Industry Soundness
Industry Trends and Initiatives for Improving Industry Soundness Increasing incidents involving inappropriate acquiring companies and low-quality M&A advisors. By promoting higher-quality M&A and reducing deal risks, we are helping foster a more sound and transparent industry environment. Recent key
Slide 43: Agenda
Agenda １ Performance P3 ２ Company Overview P15 ３ Competitive Edge P21 ４ Market Environment and Industry Trends P36 ５ Growth Strategy and Shareholder Returns P42 6 Topics P49 7 Social Significance P55 42 FY09/2026 Results Presentation | Copyright © 2026 M&A Capital Partners Co., Ltd. All rights reser
Slide 44: The MACP Group's three-year medium-term plan (organic growth)
The MACP Group’s three-year medium-term plan (organic growth) Revised in line with the forecast revision Three-year plan for deals closed and consultant headcount to drive further growth FY09/2027–FY09/2029 Deals closed (revised) Number of consultants(revised) Three-year plan (MACP) Three-year plan
Slide 45: MACP Group's growth investment strategy (inorganic growth)
MACP Group’s growth investment strategy (inorganic growth) Actively exploring M&A and partnership strategies that contribute to consolidated profit growth Aiming to enhance EPS and capital efficiency through effective use of ample cash and deposits Looking into M&A, capital alliances, and business p
Slide 46: Shareholder returns
Shareholder returns Our policy is to seek a continuous increase in dividends per share through profit growth while making provisions for growth investments, and provide stable and consistent shareholder returns centered on dividends The dividend forecast for the fiscal year ending September 30, 2027
Slide 47: Initiatives to achieve cost-of-capital and share price-conscious management
Initiatives to achieve cost-of-capital and share price-conscious management Driven by strong sales and profit growth, we have consistently maintained ROE above our estimated cost of capital, moving largely in parallel with operating margin, while also accumulating shareholders’ equity and strengthen
Slide 48: Cash Allocation
Cash Allocation Allocate cash generated to growth investments and shareholder returns while maintaining financial soundness Illustrative allocation of cash and deposits as of September 30, 2026 and operating cash flows for FY09/2027–FY09/2029 Cash Inflows Cash Outflows Illustrative diagram Funds for
Slide 49: Future Growth Vision for the MACP Group
Future Growth Vision for the MACP Group The World’s leading investment bank On the way to the world’s leading investment bank One of the world’s leading M&A groups Flagship group supporting the Japanese economy Present Listed on Mothers Listed on First Becoming the Section of TSE 2026-2027 Establish
Slide 50: Agenda
Agenda １ Performance P3 ２ Company Overview P15 ３ Competitive Edge P21 ４ Market Environment and Industry Trends P36 ５ Growth Strategy and Shareholder Returns P42 6 Topics P49 7 Social Significance P55 49 FY09/2026 Results Presentation | Copyright © 2026 M&A Capital Partners Co., Ltd. All rights reser
Slide 51: TOPIC.1 Capital and Business Alliance
TOPIC.1 Capital and Business Alliance Capital and business alliance agreement signed with Resona Holdings Expanding M&A services to meet more customers' needs Alliance overview Expansion of M&A services The two companies will leverage their respective customer networks, M&A resources, and expertise
Slide 52: TOPIC.2 League Table
TOPIC.2 League Table Achieved a triple crown by number of deals in the Q3 2026 M&A Market League Table Maintained a commanding No. 1 position in Japan’s M&A industry Domestic Market Financial Advisor Top 5 Rankings Ranking by # of deals/excluding real estate deals Financial advisor # of deals M&A Ca
Slide 53: TOPIC.3 New TV Commercial Launch
TOPIC.3 New TV Commercial Launch New TV commercial featuring the popular “Lion President” begins airing on October 1, 2026! Now 20 versions in total! Vacation Home Hospitalization 20 versions / major sponsored programs TV Asahi network Watch the “Hodo Station” “Lion President” commercials TBS networ
Slide 54: Advertising and public relations activities
Advertising and public relations activities In 2018, we began airing “Lion President” television commercials, which have been at the center of our advertising and public relations activities Through these initiatives, we have achieved an overwhelming level of recognition as a leading company in the
Slide 55: IR initiatives
IR initiatives Earnings Briefing for Institutional Investors Company Information Session for Individual Investors We held a webinar for individual investors on the NET-IR platform operated by Nomura We plan to hold an earnings briefing. Investor Relations (a Nomura Securities group company). Please
Slide 56: Agenda
Agenda １ Performance P3 ２ Company Overview P15 ３ Competitive Edge P21 ４ Market Environment and Industry Trends P36 ５ Growth Strategy and Shareholder Returns P42 6 Topics P49 7 Social Significance P55 55 FY09/2026 Results Presentation | Copyright © 2026 M&A Capital Partners Co., Ltd. All rights reser
Slide 57: Sustainability
Sustainability At a meeting in November 2021, the Company’s Board of Directors established material ESG issues with a focus on SDGs We will foster a sustainable future by promoting the growth of the Japanese economy and addressing social issues No poverty Industry, innovation, and infrastructure Goo
Slide 58: ESG
ESG Through the M&A services business, we will continue to contribute to the realization of a sustainable society through ESG initiatives Our Approach to ESG • The sharp rise in suspensions and closures of SMEs in Japan is widely recognized as an essential issue. • According to calculations made by
Slide 59: Handling of These Materials
Handling of These Materials The plans, forecasts and strategies, etc. contained in these materials are forecasts on future performance based on information available at the time the materials were prepared, and they include inherent risk and uncertainty. Actual performance may differ from forecasts