For Startups, Inc. · TSE:7089
For Startups — Q1 FY03/2027 Earnings Presentation
36 slides from For Startups's earnings presentation, August 2026
Slide 1: FY03/2027 1Q Financial Results
FY03/2027 1Q FINANCIAL RESULTS
Slide 2: Executive summary
Executive summary FY03/27 1Q results Net sales Operating income Orders 1,543 million yen 449 million yen 1,635 million yen YoY +38.3% YoY +112.0% YoY +20.6% Overview − Significant year-on-year growth in revenue and profit. Net sales are in line with forecast, while operating income came in above exp
Slide 3: Agenda
01 | FY03/27 1Q results overview 02 | Performance by segment 03 | Progress in medium-term management policy Agenda 04 | Appendix − FAQ − Supplementary materials
Slide 4: FY03/27 1Q results overview
01 | FY03/27 1Q results overview
Slide 5: Summary of consolidated results
01 | FY03/27 1Q results overview Summary of consolidated results Revenue and profit came in significantly higher. Net sales were in line with forecast, but profit was ahead of expectations at all levels At this point in time, we have not changed earnings forecasts FY03/27 FY03/26 Full-year YoY Progr
Slide 6: Summary of consolidated results by segment
01 | FY03/27 1Q results overview Summary of consolidated results | by segment Partly because productivity improvements were still a work in progress during the same period of the previous year, Human Capital Business recorded significant increases in revenue and profit This drove profitability impro
Slide 7: Analysis of change in operating income
01 | FY03/27 1Q results overview Analysis of change in operating income Progress in productivity improvements, mainly in Human Capital Business, drove significant increases in profit Unit: Million yen 427 ▲ 77 Cost of sales 449 ▲ 107 ▲5 Personnel Other SG&A expenses expenses 212 Net sales FY03/26 1Q
Slide 8: Consolidated net sales | Quarterly change
01 | FY03/27 1Q results overview Consolidated net sales | Quarterly change Quarterly net sales for Human Capital Business hit new record Unit: Million yen + 38.3% 1,674 1,543 YoY 352 110 1,335 1,116 1,142 220 Open Innovation 977 1,018 105 113 865 55 832 83 192 240 + 5.4 % 1,432 1,321 1,010 1,028 1,1
Slide 9: Consolidated orders received | Quarterly change
01 | FY03/27 1Q results overview Consolidated orders received | Quarterly change Human Capital performed steadily, and the decrease in orders for Open Innovation was as expected. Venture Capital recorded its first orders. Unit: Million yen + 20.6% 1,635 YoY 1,539 48 1,356 1,403 159 216 1,321 68 1,14
Slide 10: Number of regular employees | Quarterly change
01 | FY03/27 1Q results overview Number of regular employees | Quarterly change Total headcount reached 271, partly due to the addition of new graduates. With mid-career hiring progressing well and a declining trend in turnover, we are currently on track with our full-year personnel plan. Unit: Pers
Slide 11: Performance by segment
02 | Performance by segment Startups
Slide 12: Human Capital Business | Quarterly change in net sales and orders received
02 | Performance by segment Human Capital Business | Quarterly change in net sales and orders received Orders received fell slightly QoQ. This was due to effects of order unit price, number of converted placements (which is main indicator) has been solid Change in net sales over time Change in order
Slide 13: Human Capital Business | Breakdown of net sales for employee placement service
02 | Performance by segment Human Capital Business | Breakdown of net sales for employee placement service Saw significant increase in unit price following rise in converted placements for high salary bands, but perceive this to be temporary Basically expect unit price to subside to level of previou
Slide 14: Human Capital Business | Change in KPIs over time (parent)
02 | Performance by segment Human Capital Business | Change in KPIs over time (parent) “Number of converted placements per person” productivity indicator falling due to entry of new graduates, as expected One issue is fall in conversion rate from meetings with applicants to interviews arranged for u
Slide 15: Open Innovation Business | Quarterly change in net sales and orders received
02 | Performance by segment Open Innovation Business | Quarterly change in net sales and orders received STARTUP DB revenue declined QoQ, but this was due to spot sales with high unit price recorded in 4Q of previous fiscal year, so no real impact Have decided to postpone conferences for the time be
Slide 16: Venture Capital Business | Achieved first exit
02 | Performance by segment Venture Capital Business | Achieved first exit Sale of some shares held by the fund was settled in June (secondary transaction), achieving first exit by Venture Capital Business. Due to accounting period mismatch between the Company and the fund, 48 million yen in consoli
Slide 17: Progress in medium-term management policy
03 | Progress in medium-term management policy
Slide 18: Business portfolio for the growth industry support platform
03 | Progress in medium-term management policy Business portfolio for the growth industry support platform Growth drivers will be high-margin, high-added value Human Capital and M&A intermediary businesses By combining these with an investment business that leverages the strengths of the Company, we
Slide 19: Become the best HR partner for startup and growth companies
03 | Progress in medium-term management policy Room for growth in Human Capital Business We plan to strengthen our innovation support not only for pre-IPO startups but also in the 17 government- designated strategic fields. Our group will continue to improve productivity in areas where support is hi
Slide 20: M&A Intermediary | Progress
03 | Progress in medium-term management policy M&A Intermediary | Progress Inflows of candidates for corporate business transfers derived from introductions by VC firms and others have been steady, and we have secured a certain number of outsourced deals We are carrying out steady sales activities a
Slide 21: Improvements in corporate value
03 | Progress in medium-term management policy Improvements in corporate value Achieved 5,000 million yen in net sales within ten years of founding. Next target is to exceed 10,000 million yen in net sales as quickly as possible Over the next five years (to FY03/31), will achieve the business growth
Slide 22: Acquisition of shares by Directors
03 | Progress in medium-term management policy Acquisition of shares by Directors Three for Startups Directors (Yuichiro Shimizu, Yukiko Tsuneda, and Kazuhiko Shimizu) will buy common shares of the Company in the market up to a maximum of 150 million yen in total By taking on risk themselves through
Slide 23: Appendix - FAQ
04 | Appendix— FAQ Startups
Slide 24: Q&A on matters of interest to investors
04 | Appendix－FAQ Q&A on matters thought to be of considerable interest to investors The increase in unit price in the Human Capital Business is remarkable. Please comment on the reasons Q1 for this and the outlook going forward. In terms of external factors, we have inflation and increases in offer
Slide 25: Q&A on matters of interest to investors
04 | Appendix－FAQ Q&A on matters thought to be of considerable interest to investors Have there been changes in startup recruitment demand caused by factors in the external environment, Q3 such as the uncertainty surrounding the Growth Market and startup industry, and the emergence of AI? The raisin
Slide 26: Appendix - Supplementary materials
04 | Appendix－Supplementary materials
Slide 27: Company overview
04 | Appendix－Supplementary materials Company overview Company name for Startups, Inc. Established September 2016 Location of 31F Azabudai Hills Mori JP Tower, 1-3-1 head office Azabudai, Minato-ku, Tokyo Number of regular 271 (as of June 30, 2026) employees Capital 239 million yen (as of June 30, 2
Slide 28: Human Capital Business | KPI tree
04 | Appendix－Supplementary materials Human Capital Business | KPI tree KPIs: we seek to maximize the indicator targets that we can control (number of interviews with new job applicants / number of unique users for which interviews arranged) Career change activity flow Our KPIs and flow for recogniz
Slide 29: Growth industry support platform concept
04 | Appendix－Supplementary materials Growth industry support platform Becoming a platform for services (originating in HR support) that support Japanese companies and industries as they focus on their ‘challenges’ “Growth industry support platform” concept Entrepreneurs Overseas Enterprise Today, a
Slide 30: Becoming a company essential for the creation of new industries
04 | Appendix－Supplementary materials for Startups value creation story Mission: Towards the center of evolution (together) / Vision: for Startups Initiatives to reinforce Our strengths / Business model Positive outcomes from the Vision our strengths / issues sources of growth (Growth industry suppo
Slide 31: Quarterly performance by segment
04 | Appendix－Supplementary materials Quarterly performance by segment FY03/25 FY03/26 FY03/27 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Unit: Million yen Net sales 810 749 785 777 1,010 1,028 1,114 1,321 1,432 − − − Human Capital Segment profit/loss 367 312 311 318 451 443 501 617 722 − − − Net sales 55
Slide 32: Change in SG&A expenses
04 | Appendix－Supplementary materials Change in SG&A expenses Personnel expenses rose as a result of higher bonuses in 4Q of the previous fiscal year, while in 1Q it remained at the same level due to salary increases for existing employees and a rise in headcount FY03/25 FY03/26 FY03/27 Unit: Millio
Slide 33: Consolidated balance sheet
04 | Appendix－Supplementary materials Consolidated balance sheet FY03/27 FY03/27 FY03/25 FY03/26 FY03/25 FY03/26 Unit: Million yen 1Q Unit: Million yen 1Q Cash and deposits 1,895 2,162 2,477 Current liabilities 788 1,524 1,096 Accounts receivable - trade, and contract 484 910 506 Non-current liabili
Slide 34: Approach to capital allocation
04 | Appendix－Supplementary materials Approach to capital allocation While establishing a new quota for investments on our own account and securing funds for M&A, we will also consider a dynamic approach to shareholder returns Cash resources Allocation policy Although profit growth is the basic poli
Slide 35: IR initiatives
04 | Appendix－Supplementary materials IR initiatives Shared Research Consolidation of QA information As part of our efforts to eliminate the information gap with A list of questions and answers received from investors in the investors and disclose information fairly, we publish company past has been
Slide 36: Disclaimer
Disclaimer These materials contain forward looking statements. These statements are based on no more than the information available at the time the statements were created. Furthermore, such statements do not constitute a guarantee of future results, and incorporate risks and uncertainties. Be aware