M&a Capital Partners Co. Ltd. · TSE:6080
M&a Capital Partners — FY2025 Earnings Presentation
58 slides from M&a Capital Partners's earnings presentation, Oct 30, 2025
Slide 1: Presentation Materials for the Fiscal Year 09/2025 Earnings Results
Presentation Materials for the Fiscal Year 09/2025 Earnings Results Oct. 30, 2025 FY09/2025 Results Presentation | Copyright © 2025 M&A Capital Partners Co., Ltd. All rights reserved
Slide 2: Agenda
Agenda １ Performance P3 ２ Company Overview P17 ３ Competitive Edge P23 ４ Market Environment and Industry Trends P36 ５ Growth Strategy and Shareholder Returns P42 6 Topics P48 7 Social Significance P54 1 FY09/2025 Results Presentation | Copyright © 2025 M&A Capital Partners Co., Ltd. All rights reserv
Slide 3: Results summary
Results summary Achieved record highs in net sales, closed deals, and large deals for the full year Leading indicators such as number of consultants, active deals, and contract liabilities also reached record highs Net Sales (consolidated) Ordinary income (consolidated) Deals closed (consolidated) 2
Slide 4: Agenda
Agenda １ Performance P3 ２ Company Overview P17 ３ Competitive Edge P23 ４ Market Environment and Industry Trends P36 ５ Growth Strategy and Shareholder Returns P42 6 Topics P48 7 Social Significance P54 3 FY09/2025 Results Presentation | Copyright © 2025 M&A Capital Partners Co., Ltd. All rights reserv
Slide 5: Non-consolidated performance summary for FY09/2025
Non-consolidated performance summary for FY09/2025 MACP hit record highs in full-year net sales, number of deals closed, and large deals concluded RECOF did not turn profitable due to deferred large transactions M&A Capital Partners Co., Ltd. RECOF Corporation Results YoY change Results YoY change N
Slide 6: Earnings results and annual trend
Earnings results and annual trend Revenue and profit were broadly in line with budget Achieved record-highs in full-year net sales and number of closed deals Full-year results Forecast for the full year YTD Progress ( unit： ¥ million ) □ Consolidated net sales 22,449 23,645 94.9% □ Consolidated ordi
Slide 7: Overview of consolidated income statement for FY09/2025
Overview of consolidated income statement for FY09/2025 Record-high sales (+17.1% YoY), high-level of ordinary income (+23.4% YoY) (Unit: Millions of yen, second line is composition ratio) FY09/2024 FY09/2025 (consolidated) (consolidated) YoY change Summary Number of closed deals and large deals 19,
Slide 8: Overview of consolidated balance sheets for FY09/2025
Overview of consolidated balance sheets for FY09/2025 Solid financial condition underpinned by stable shareholder’s equity ( Unit：¥ Million; % is composition ratio) FY2025（Consolidated） FY2024 （Consolidated） YoY Change Summary Current Assets 40,691 46,924 +6,232 ◼ Cash and deposits +7,096 (86.3%) (9
Slide 9: Consolidated annual trend of the number of deals closed
Consolidated annual trend of the number of deals closed MACP’s number of deals closed increased by 12.7% YoY, achieving a full-year record on a consolidated basis 280 Annual trend of the number of deals closed, 262 Number of deals closed (consolidated) 260 numbers are shown cumulatively for each qua
Slide 10: Quarterly trend of the number of active deals (non-consolidated)
Quarterly trend of the number of active deals (non-consolidated) MACP has achieved the highest number of active deals so far: 662 (YoY +26.1％), with a large deal ratio of 25.7%, updated the record high by establishing a balance between deal completion and new deal development Quarterly trend of the
Slide 11: Quarterly trend of contract liability
Quarterly trend of contract liability Contract liability reached a record high, holding ¥1,376 million (+29.4％ compared to the previous fiscal year-end), updated the record high by achieving both a successful deal conclusion and a smooth progression of active deals Quarterly trend of the amount of c
Slide 12: Annual trend of the number of consultants
Annual trend of the number of consultants Highest-ever consolidated total of 258 consultants (+44 YoY) With hiring progressing steadily, 36.2%* of objectives have been met toward the full-year 25% headcount growth plan (289 for MACP), including confirmed future joiners *as of September 30, 2025 Quar
Slide 13: Consolidated performance forecast for FY09/2026 (IFRS)
Consolidated performance forecast for FY09/2026 (IFRS) The earnings forecast has been prepared in accordance with IFRS. Year-on-year comparisons are not provided as there are no corresponding IFRS-based figures for the previous period. Projecting a further 20% increase in closed deals from the recor
Slide 14: (Reference) FY09/2026 earnings forecast: Impact of accounting standard change
(Reference) FY09/2026 earnings forecast: Impact of accounting standard change (Unit: Millions of yen) FY09/2026 (J-GAAP) FY09/2026 (IFRS) Difference Main factors Net sales 26,991 Net sales 26,991 ― Cost of sales 10,063 Cost of sales 10,063 ― Gross profit 16,927 Gross profit 16,927 ― SG&A expenses 6,
Slide 15: (Reference) Key changes resulting from accounting standard change
(Reference) Key changes resulting from accounting standard change Item J-GAAP IFRS Impact on earnings forecast ⚫ Expenses recognized ⚫ Total rent for the estimated ⚫ Office lease contracts that meet the requirements will be recognized on the balance over the lease term office usage period is recogni
Slide 16: Non-consolidated earnings forecast for the FY09/2026 (J-GAAP)
Non-consolidated earnings forecast for the FY09/2026 (J-GAAP) Deals closed and net sales projected to rise about 20% from the previous record-high year Background ●YoY change ⚫ Record highs in the number of consultants, Net sales ¥24,640 million +19.1% active deals, and contract liabilities indicate
Slide 17: Non-consolidated earnings forecast for the FY09/2026 (J-GAAP) - RECOF
Non-consolidated earnings forecast for the FY09/2026 (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 Backgr
Slide 18: Agenda
Agenda １ Performance P3 ２ Company Overview P17 ３ Competitive Edge P23 ４ Market Environment and Industry Trends P36 ５ Growth Strategy and Shareholder Returns P42 6 Topics P48 7 Social Significance P54 17 FY09/2025 Results Presentation | Copyright © 2025 M&A Capital Partners Co., Ltd. All rights reser
Slide 19: 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 20: 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 21: 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 22: Our business
Our business Business M&A-Related Services Characteristics We provide advisory services for M&A transactions, We offer and facilitate the implementation of M&A-focused maintaining an independent and impartial stance between solutions for business owners concerned about succession the seller (acquire
Slide 23: 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 24: Agenda
Agenda １ Performance P3 ２ Company Overview P17 ３ Competitive Edge P23 ４ Market Environment and Industry Trends P36 ５ Growth Strategy and Shareholder Returns P42 6 Topics P48 7 Social Significance P54 23 FY09/2025 Results Presentation | Copyright © 2025 M&A Capital Partners Co., Ltd. All rights reser
Slide 25: Overview of our competitive advantage
Overview of our competitive advantage 1 Brand An overwhelming brand in the M&A intermediary industry ⚫ Key 10 categories in the M&A intermediary industry ⚫ League table High productivity of our consultants 2 Unparalleled proposal capabilities and track record in the industry ⚫ Net sales and ordinary
Slide 26: Brand
Competitive edge 1 Brand Establishing the “best brand” with a dominant presence in the M&A intermediary industry *The above is sourced from our website. 25 FY09/2025 Results Presentation | Copyright © 2025 M&A Capital Partners Co., Ltd. All rights reserved
Slide 27: Position: M&A market league table
Competitive edge 1 Position MACP maintains its position in the domestic M&A market League Table as the only M&A-specialized advisory firm On the path to a globally recognized M&A advisory company, with our vision of becoming the world’s leading investment bank Q4 2024 Domestic Market Financial Advis
Slide 28: High productivity of our consultants
Competitive edge 2 High productivity of our consultants Overwhelmingly high productivity per capita in the M&A intermediary; 13.4% of our consultants are certified professionals, such as accountants and lawyers (an outstanding holding rate in the industry). Productivity Sales per consultant Ordinary
Slide 29: 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 30: 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 31: Commission fee variance between companies listed on the TSE Prime market
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 32: 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 consulta
Slide 33: Highly Profitable Large Deals
Competitive edge 5 Highly Profitable Large Deals Achieving an exceptionally high average consideration in the M&A intermediary industry through the successful conclusion of highly profitable large-scale deals, with a direct proposal business model 25.2% About 1 in 4 deals 58 large M&A deals are larg
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. The President himself carefully selects and interviews the candidates who have an outstanding sales record and a sincer
Slide 35: Human Resource Development
Advantage 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
Slide 36: Engagement
Advantage 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 Point Point Point 1 2 ３ 4 The hallmark of MACP’s corporate
Slide 37: Agenda
Agenda １ Performance P3 ２ Company Overview P17 ３ Competitive Edge P23 ４ Market Environment and Industry Trends P36 ５ Growth Strategy and Shareholder Returns P42 6 Topics P48 7 Social Significance P54 36 FY09/2025 Results Presentation | Copyright © 2025 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 From January to September 2025, the number of M&A deals reached a record 3,694, with a record-high total transaction value of 26.8605 trillion yen (Number of deals) Latest ■ OUT-IN 2025 Jan.-Sep. M&A of Japanese companies by overseas companies ■ IN-OUT M&A of ov
Slide 39: The status-quo of SMEs
The status-quo of SMEs (small and medium enterprises) Changes in the operating environment are leading to an increase in business closures and bankruptcies As the average age of company presidents rises, many organizations are struggling with succession planning Number of Suspensions, Closures and D
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 250,000 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 3,046. The MACP Group’s share is about 4% among the total registered M&A advisors. ※ ※ MACP Group’s 171 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. Examples o
Slide 43: Agenda
Agenda １ Performance P3 ２ Company Overview P17 ３ Competitive Edge P23 ４ Market Environment and Industry Trends P36 ５ Growth Strategy and Shareholder Returns P42 6 Topics P48 7 Social Significance P54 42 FY09/2025 Results Presentation | Copyright © 2025 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) Three-year plan for deals closed and number of consultants to drive further growth FY09/2026–FY09/2028 Deals closed Number of consultants Three-year plan (MACP) Three-year plan (RECOF) Three-year plan (MACP) Three-year plan (RECOF) 29 41
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 share holder returns centered on dividends Basic policy on profit distribution Implement shareholder returns
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: 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 Listed on First Mothers Section Section of TSE 2025-2026 Becoming the E
Slide 49: Agenda
Agenda １ Performance P3 ２ Company Overview P17 ３ Competitive Edge P23 ４ Market Environment and Industry Trends P36 ５ Growth Strategy and Shareholder Returns P42 6 Topics P48 7 Social Significance P54 48 FY09/2025 Results Presentation | Copyright © 2025 M&A Capital Partners Co., Ltd. All rights reser
Slide 50: M&A Market League Table
TOPICS 1. M&A Market League Table Achieved triple crown in Q3 2025 M&A Market League Table by number of transactions MACP is the Sole M&A Brokerage Firm that ranked in, and secured the top position in Q3 2025, following our full-year No.1 across three divisions in 2024 Domestic Deals Top 5 Advisors
Slide 51: Partnerships
TOPICS 2. Partnerships Formed partnerships in the M&A field and for local co-creation Began new partnerships in Q4 with two companies in the M&A field, two major key TV station groups, and five local newspaper companies across Japan Partnerships with major key TV station groups and newspaper compani
Slide 52: Matching
TOPICS 3. Matching Focusing on the "quality" and "quantity" of matching to create efficient and effective matching opportunities. In the fourth quarter, built an industry-leading matching platform using AI and newly formed a partnership with one financial institution. Enhancing the quality of matchi
Slide 53: 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 3 new CM have been released in January 2025, enjoying an overwhelming level of recognition as a leading compa
Slide 54: IR Initiatives
IR Initiatives Earnings Briefing for Institutional Investors Company Information Session for Individual Investors We plan to hold a full-year earnings briefing. This event was held on NET-IR (a service by Nomura Investor Relations, a Nomura Securities Please register via the URL if you wish to atten
Slide 55: Agenda
Agenda １ Performance Summary P3 ２ Company Overview P17 ３ Competitive Edge P23 ４ Market Environment and Industry Trends P36 ５ Growth Strategy and Shareholder Returns P42 6 Topics P48 7 Social Significance P54 54 FY09/2025 Results Presentation | Copyright © 2025 M&A Capital Partners Co., Ltd. All righ
Slide 56: 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 57: 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 58: 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