Northsand,inc. · TSE:446A

Northsand,inc — Q2 FY2027/1 Earnings Presentation

46 slides from Northsand,inc's earnings presentation, Sep 14, 2026

  1. Slide 1: Notice Concerning Additional Materials for FY2027/1 Q2 Financial Results Presentation

    Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. September 14, 2026 Company Name: Northsand, Inc. Representative: Tomohiro Maeda, Rep

  2. Slide 2: FY2027/1 Q2 Financial Results Presentation Material

    n M a t e r i a l s e n t a t i o l R e s u l ts Pre 2 F i n a n c i a FY 2 0 2 7 / 1 Q Copyright @ Northsand, Inc. All rights reserved

  3. Slide 3: Table of Contents

    f C o n t en t s Table o FY27/1 Future 01. Q2 Results 02. Outlook Copyright @ Northsand, Inc. All rights reserved 2

  4. Slide 4: Table of Contents

    f C o n t en t s Table o FY27/1 Future 01. Q2 Results 02. Outlook Copyright @ Northsand, Inc. All rights reserved 3

  5. Slide 5: FY27/1 Q2 Results｜Financial Results

    FY27/1 Q2 Results｜Financial Results i n g p r o f i t & k e y K P I s R e v e n ue , o p e r a t grew steadily YoY Revenue Operating Profit Key KPI (¥ million) (¥ million) Operating Margin 5,000 20.4% 18,445 +1pt Number of consultants 19.4% 20,000 4,000 3,766 1,916（YoY+689） +60.2% 15,000 11,514 +68.

  6. Slide 6: Quarterly Progress Against Full-Year Forecast

    FY27/1 Q2 Results｜Quarterly Progress Against Full-Year Forecast r o f i t b o t h s u r p a s s e d & o p e r a t i n g p Revenue last year’s pace Q4 Revenue (¥ million) Q4 Operating Profit (¥ million) Q3 Q3 Q2 Q2 Forecast Forecast Q1 26,185 38,493 Q1 5,547 8,630 100% 100% 29.9% 33.0% 75% 75% 26.1%

  7. Slide 7: Revenue / Cost of Sales & Gross Margin Trends

    FY27/1 Q2 Results｜Revenue / Cost of Sales & Gross Margin Trends e g r e w s t e a d i l y Revenu i n l i ne w i t h p l a n gross margin also (¥ million) Revenue / Cost of Sales & Gross Margin Trends First Half First Half 48.3% 50.3% 48.3% 49.1% 48.1% 49.7% 47.0% 47.5% 9,588 1,125 8,856 7,823 1,102

  8. Slide 8: Operating Profit & SG&A Trends

    FY27/1 Q2 Results｜Operating Profit & SG&A Trends f i t i n c r e a s e d s t e a d i ly O p e r a t i n g p r o 0 % a r g i n o v e r 2 maintaining m (¥ million) 3500 3500 Operating Profit and SG&A Trends First Half 25.00% First Half 21.6% 20.4% 20.6% 20.4% 20.4% 3000 3000 19.4% 23.4% 2500 2500 18.0

  9. Slide 9: SG&A Expenses Breakdown

    FY27/1 Q2 Results｜ SG&A Expenses Breakdown d e c l i n e d s t e a d i l y SG&A ratio a t i n g e f f i c i e n c y i n g i m p r o v e d o p e r reflect (¥ million) 3500 31.1% First Half 28.9% SG&A Trends 29.3% First Half 27.9% 3000 26.9% 26.4% 26.9% 26.6% 316 242 2500 2000 489 570 408 135 171 133

  10. Slide 10: Number of Consultants and Hires Trends

    FY27/1 Q2 Results｜Number of Consultants and Hires Trends n t s i n c r e a s e d d u e t o Numb e r o f c o n s u l ta g & s t r o n g r e t en t i o n i d - c a r e e r h i r i n steady m Consultants Number of Consultants and Hires Trends 500 New graduate hires 450 Mid-career consultant hires 1,916

  11. Slide 11: Financial Position (B/S)

    FY27/1 Q2 Results｜Financial Position (B/S) v i a b u s i n e s s g r o w t h a s o l i d f i n a n c i a l b a s e A c h i e v e d (¥ million) FY26/1 FY27/1 Q2 Change Current asset Current liabilities Non-current asset Non-current liabilities Total assets 21,861 24,376 +11.5% Total net assets (¥ mil

  12. Slide 12: Table of Contents

    f C o n t en t s Table o FY27/1 Future 01. Q2 Results 02. Outlook Copyright @ Northsand, Inc. All rights reserved 11

  13. Slide 13: Upward Revision to Full-Year Earnings & Dividend Forecasts for FY27/1

    Future Outlook｜Upward Revision to Full-Year Earnings & Dividend Forecasts for FY27/1 s t s r e v i s e d u p w a r d , p r o f i t f o r e c a Revenue and h i g h u t i l i z a t i o n s t r o n g h i r i n g a n d driven by Key Highlights FY27/1 FY27/1 FY26/1 YoY • Steady consultant headcount growt

  14. Slide 14: FY27/1 Revised Forecast (Revenue / Operating Profit & Key KPI)

    Future Outlook｜ FY27/1 Revised Forecast (Revenue / Operating Profit & Key KPI) u e o f ¥ 4 0 . 5 6 b i l l i o n , We ta r g e t a r e v e n % l l i o n & m a r g i n o f 2 2 . 7 t o f ¥ 9 . 2 b i operating profi Revenue Operating Profit Key KPI (¥ million) (¥ million) 40,560 45,000 Operating Margin

  15. Slide 15: Quarterly Progress Against Revised Forecast

    Future Outlook｜Quarterly Progress Against Revised Forecast f i t b o t h s h o w s t r o n g & o p e r a t i n g p r o Revenue e v i s e d f o r e c a s t progress agains t r Q4 Revenue (¥ million) Q4 Operating Profit (¥ million) Q3 Q3 Q2 Q2 Revised Forecast Revised Forecast Q1 26,185 40,560 Q1 5,54

  16. Slide 16: FY27/1 Revised Forecast (Cost of Sales / Gross Margin and SG&A)

    Future Outlook｜ FY27/1 Revised Forecast (Cost of Sales / Gross Margin and SG&A) p r o f i t a b i li ty p u r s u i n g We a i m to en h a n c e e m e n t & l o w e r S G & A e f f i c i e n t m a n a g Cost of sales / SG&A / SG&A ratio Gross margin Gross margin (¥ million) Others SG&A Ratio (¥ mill

  17. Slide 17: Mid to Long Term Targets

    Disclosed Future Outlook｜Mid to Long Term Targets 2026/3/13 3 0 % r e v e n u e C A G R , Mid-t e r m t a r g e t : + ¥ 1 0 0 b i l l i o n r e v e n ue Lo n g -t e r m t a r g e t : Revenue Revenue Mid to Long Term Targets ¥ 100 billion Operating Profit Revenue CAGR Over 30% Operating Margin 30 ％ (

  18. Slide 18: Growth Strategy

    Disclosed Future Outlook｜Growth Strategy 2026/3/13 n a b l e r e v e n u e / p r o f i t We a i m f o r s u s t a i f a n - b u i l d i n g c y c l e growth with our Fan-Building Targets Strategy Target ① • Strengthen relationships with Increase in consultants Recruitment agencies recruitment agenci

  19. Slide 19: Our View on ROE and Cost of Capital

    Disclosed Future Outlook｜ Our View on ROE and Cost of Capital 2026/6/11 c a p i t a l a t a r o u n d 1 0 % We estim a t e c o s t o f b o v e c o s t o f c a p i t a l e l i v er R O E a and aim to d Over 30 ％ 10～11% Approx. 9% Cost of Capital (CAPM) Cost of Capital (Market Expectations) FY27/1 ROE

  20. Slide 20: Initiatives Focused on the Cost of Capital

    Disclosed Future Outlook｜Initiatives Focused on the Cost of Capital 2026/6/11 p r o f i t m a x i m i z a t i o n Drivin g r e v e nu e & c a p i t a l a l l o c a t i o n while optimizing Funding Source Use Allocation Revenue Growth via the Funds to maintain working capital Approx. 30% Working Fan-

  21. Slide 21: Market Segment Change

    Future Outlook｜Market Segment Change o w t h , w e a p p l i e d f o r s u s t a i n a b l e gr Pursuing e P r i m e M a r k e t a transition to t h On September 7, 2026, we applied for a market segment change to the Prime Market. Aiming for sustainable growth and enhanced long-term corporate value,

  22. Slide 22: Appendix

    A p p e n d i x Copyright @ Northsand, Inc. All rights reserved

  23. Slide 23: Appendix｜Basic Information

    Appendix｜Basic Information r m f o u nd ed i n 2 0 1 5 C o ns u lt i n g f i Company name Northsand, Inc. Established July 10, 2015 7th Floor, Kabukiza Tower, 4-12-15, Headquarters Ginza, Chuo-ku, Tokyo 17th Floor, JP Tower Osaka, 3-2-2, Kansai Branch Umeda, Kita-ku, Osaka 12th Floor, ACROS Fukuoka,

  24. Slide 24: Appendix｜Business Model / Revenue Structure

    Appendix｜Business Model / Revenue Structure s s m o d e l : w e p r o v i d e A s i m p l e b u s i n e e i v e f e e f r o m c l i e nt s g s e r v i c e & r e c consultin Revenue Structure Business Model Revenue Cost of sales Consultant salaries Clients Number of consultants Service × SG&A IT Busi

  25. Slide 25: Appendix｜Founding Story

    Appendix｜Founding Story a n d t o c h a l l e n g e t h e Foun d ed N o r t h s t r y t he c o n s u l t i n g i n d u s n a t u r e o f self-satisfactory Consulting Industry Hard Skill-Focused Prioritizes demonstrating their intelligence and skills over solving client issues Human Skill-Focused Pas

  26. Slide 26: Appendix｜People-Focused Consulting

    Appendix｜People-Focused Consulting v e r s k i l l s , w e d e li v e r o n p e o p l e o Focusing n s u l t i n g s e r v i c e a unique c o Empathy Proactive Foresight Sense others’ emotions and Take initiative by anticipating Focus on people provide prompt support future needs Consideration & Car

  27. Slide 27: Appendix｜Selective Hiring of High-Quality Talent

    Appendix｜Selective Hiring of High-Quality Talent f r o m n o n - c o n s u l t i n g hi r i n g o f t a le n t Selective r e e n i n g p r o c e s s u n d v i a a u n i q u e s c backgro ① Initiative Applicants from 88.5% Results Talent pool including Target non-consulting consulting newcomers backg

  28. Slide 28: Appendix｜Employee Background

    Appendix｜Employee Background e t a l e n t f r o m I T & Our hires includ s e b a c k g r o u n d s other diver Employees’ Previous Employers Railway Commercial Bank Business Company 21.0% Telecom Manufacturer Consulting Firm Strategy Consulting Finance Consulting 11.5% 67.5% IT Company E-commerce I

  29. Slide 29: Appendix｜Our Hiring Capability

    Appendix｜Our Hiring Capability a m o n g t o p 2 0 f i r m s , e o f n et h i r i n g Approx. 11% shar f u r t h er g r o w t h with room for Northsand’s Net Hiring (Aug 2025 – Jul 2026) Approx. 800 Net Hiring Among the Top 20 Consulting Firms Approx. 7,200 Accounted for approx. 11 of net hiring ％ a

  30. Slide 30: Appendix｜Improved Turnover Rates

    Appendix｜Improved Turnover Rates e n g a g e m e n t e f f o r t s e c r u i t m e n t & Culture-match r d t u r n o v e r r a t e s have improve 2200.0 2195.0 2190.0 2185.0 1,762 2180.0 2175.0 2170.0 2165.0 2160.0 2155.0 2150.0 2145.0 2140.0 2135.0 2130.0 2125.0 2120.0 2115.0 2110.0 2105.0 2100.0 2

  31. Slide 31: Appendix｜Increase in Clients and High Utilization Rate

    Appendix｜Increase in Clients and High Utilization Rate a b l e d u s t o m a i n t a i n n c l i e nt s h a s e n Increase i h u t i l i z a t i o n r a t e ah i g 293 90 350 Number of Client Over Utilization rate Companies 300 250 % ever since founding 200 179 150 144 100 92 50 0 FY23/1 FY24/1 FY25

  32. Slide 32: Appendix｜Our Client Base

    Appendix｜Our Client Base d o m e s t i c c o m p a n i e s s e r v e l e a d i n g We mainly v e n u e s t r u c t u r e i n t a i n a b a la n c e d r e and ma Revenue Breakdown by Sector Client Company Revenue Revenue Breakdown by Client Others Over ¥500 million Top client Pharmaceutical Over ¥1 t

  33. Slide 33: Appendix｜Long-Term Client Relationship

    Appendix｜Long-Term Client Relationship n s h i p s h a v e d r i v e n a c l i e n t r e l a t i o Long-term r e v e n u e m o d e l stable, recurri n g (¥billion) 30 Revenue by Contract Year 十億 Revenue of clients contracted in 2025 Revenue of clients contracted in 2024 25 2025 Revenue of clients co

  34. Slide 34: Appendix｜Scaling While Maintaining High Engagement

    Appendix｜Scaling While Maintaining High Engagement a g e m en t e v e n a s t h e We su s t a i n h i g h e n g workforce grows 2500 Headcount & Engagement Level 90 78.7 75.2 75.9 76.0 75.5 74.0 73.0 80 69.3 1,762 2000 70 60 1500 Company engagement score 1,170 50 40 1000 Headcount 710 30 314 20 500

  35. Slide 35: Appendix｜Domestic IT Service / Business Consulting Market Outlook

    Appendix｜Domestic IT Service / Business Consulting Market Outlook e x p e c t e d t o g r o w t o m a r k e t s a r e The combined l i o n y e n b y 2 0 2 9 over 10 t r i l ¥1.2T ¥0.8T Market 2025 Forecast 2029 ¥8.4T CAGR ¥10.9T 6.6% ¥7.5T Domestic IT service market ¥9.6T Domestic business consultin

  36. Slide 36: Appendix｜Client Acquisition Structure

    Appendix｜Client Acquisition Structure 3 d e d i c a t e d t e a m s : W e o p e r a t e w i t h t t a c q u i s i t i o n s u p p o r t , s a l es & c l i e n consultan Client Acquisition Structure Approach Towards Clients Client Sales Team New clients Inside Sales and Referral Sales Acquisition • S

  37. Slide 37: Appendix｜Increase in Recruitment Agencies and Job Candidates

    Appendix｜Increase in Recruitment Agencies and Job Candidates o f j o b c a n d i d a t e s b y a n d o u r p o o l We aim to exp c y p a r t n e r s hi p s strengthening ag e n To give our thanks to recruitment agencies who support our recruiting Recruitment Agencies and Job Candidates 30000 450 act

  38. Slide 38: Appendix｜Consultant Support System

    Appendix｜Consultant Support System o n s u lt a n t c o n c e r n s , m a d d r e s s e s c Our support syste e e e n g a g em e n t e n ha n c e e m p l o y aiming to Training Team Follow-up Team Training and support for Career counseling and guidance on improving consultants’ delivery how to take

  39. Slide 39: Appendix｜Workforce Structure and Training Approach

    Appendix｜Workforce Structure and Training Approach n i n g , w e a i m t o s c a l e h i r i n g & t r a i With proactive nc ed p osition ratio m a intainin g a w e ll-bala while FY26/1 Position Balance Long-term Workforce Expansion Strategy Number of consultants Number of consultants 1,453 5,000 As

  40. Slide 40: Appendix｜Consulting Cases Using Human Skills

    Appendix｜Consulting Cases Using Human Skills a n - s k i l ls w o n o v er Cases w h er e h um clients’ trust ① Financial Institution • Large-scale core system renewal aimed at ② Service Company • Implementation of company-wide remote work integrating and automating accounting operations. environmen

  41. Slide 41: Appendix｜Consulting Cases Related to AI

    Appendix｜Consulting Cases Related to AI r e l a t ed c a s e s Generative AI- ① Financial Institution Enterprise-wide AI strategy and adoption ② Construction Company Custom corporate AI for advanced knowledge management • Led end-to-end support from roadmap & use case rollout to CoE (Center of Excel

  42. Slide 42: Appendix｜Role Division of AI and Consultants

    Appendix｜Role Division of AI and Consultants ea r c h & a n a l y s i s , AI speeds up res h i g h - v a l u e w o r k m a n s t o f o c u s o n allowing hu ➊ Strategy & Planning ❷ Research & Analysis ❸ Execution & Adoption Problem-setting Vision Development Data Collection Analysis Execution Suppor

  43. Slide 43: Appendix｜Our AI Implementation and Future Plans

    Appendix｜Our AI Implementation and Future Plans x . 6 0 0 h o u r s p e r m o . a d b y a p p r o AI reduced worklo i z e p r o f i t a b i li t y e x p a n d u s e t o m a x i m Planning to Finance & Consulting Expand Accounting Division AI Adoption Scope Commuting expense 1st review Proposal doc p

  44. Slide 44: Appendix｜Characteristics of Japanese Organizational Structures

    Appendix｜Characteristics of Japanese Organizational Structures t i o n a r e e s s en t i a l, Context & c o o r d i na s u lt i n g d e m a n d driving con Sales HR Job-based employment Accounting Membership-based employment Hired based on clearly defined roles; transfers are rare Hired based on po

  45. Slide 45: Notes on the Use of This Document

    Disclaimer o f Th i s D o c u me nt Notes o n t he U s e This document contains forward-looking statements, including outlook, plans, targets, and other future expectations of Northsand, Inc. (the “Company”). These statements may include terms such as “forecast,” “estimate,” “expect,” “intend,” “pla

  46. Slide 46: Copyright @ Northsand, Inc. All rights reserved

    Copyright @ Northsand, Inc. All rights reserved

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